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Coders who trade: Wall Street designs its staff for the future #fintech #trading #algotrading #quantitative #quant #quants #hft ##markets #hedgefunds #fx #forex

Coders who trade: Wall Street designs its staff for the future #fintech #trading #algotrading #quantitative #quant #quants #hft ##markets #hedgefunds #fx #forex submitted by silahian to quant_hft [link] [comments]

Forex Trading, Trade in Forex Platform at Capital Street FX

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FX Street vs Forex Pros vs Twitter

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Former investment bank FX trader: News trading and second order thinking part 2/2

Former investment bank FX trader: News trading and second order thinking part 2/2
Thanks for all the upvotes and comments on the previous pieces:
From the first half of the news trading note we learned some ways to estimate what is priced in by the market. We learned that we are trading any gap in market expectations rather than the result itself. A good result when the market expected a fantastic result is disappointing! We also looked at second order thinking. After all that, I hope the reaction of prices to events is starting to make more sense to you.

Before you understand the core concepts of pricing in and second order thinking, price reactions to events can seem mystifying at times
We'll add one thought-provoking quote. Keynes (that rare economist who also managed institutional money) offered this analogy. He compared selecting investments to a beauty contest in which newspaper readers would write in with their votes and win a prize if their votes most closely matched the six most popularly selected women across all readers:
It is not a case of choosing those (faces) which, to the best of one’s judgment, are really the prettiest, nor even those which average opinions genuinely thinks the prettiest. We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be.
Trading is no different. You are trying to anticipate how other traders will react to news and how that will move prices. Perhaps you disagree with their reaction. Still, if you can anticipate what it will be you would be sensible to act upon it. Don't forget: meanwhile they are also trying to anticipate what you and everyone else will do.

Part II
  • Preparing for quantitative and qualitative releases
  • Data surprise index
  • Using recent events to predict future reactions
  • Buy the rumour, sell the fact
  • The trimming position effect
  • Reversals
  • Some key FX releases

Preparing for quantitative and qualitative releases

The majority of releases are quantitative. All that means is there’s some number. Like unemployment figures or GDP.
Historic results provide interesting context. We are looking below the Australian unemployment rate which is released monthly. If you plot it out a few years back you can spot a clear trend, which got massively reversed. Knowing this trend gives you additional information when the figure is released. In the same way prices can trend so do economic data.

A great resource that's totally free to use
This makes sense: if for example things are getting steadily better in the economy you’d expect to see unemployment steadily going down.
Knowing the trend and how much noise there is in the data gives you an informational edge over lazy traders.
For example, when we see the spike above 6% on the above you’d instantly know it was crazy and a huge trading opportunity since a) the fluctuations month on month are normally tiny and b) it is a huge reversal of the long-term trend.
Would all the other AUDUSD traders know and react proportionately? If not and yet they still trade, their laziness may be an opportunity for more informed traders to make some money.
Tradingeconomics.com offers really high quality analysis. You can see all the major indicators for each country. Clicking them brings up their history as well as an explanation of what they show.
For example, here’s German Consumer Confidence.

Helpful context
There are also qualitative events. Normally these are speeches by Central Bankers.
There are whole blogs dedicated to closely reading such texts and looking for subtle changes in direction or opinion on the economy. Stuff like how often does the phrase "in a good place" come up when the Chair of the Fed speaks. It is pretty dry stuff. Yet these are leading indicators of how each member may vote to set interest rates. Ed Yardeni is the go-to guy on central banks.

Data surprise index

The other thing you might look at is something investment banks produce for their customers. A data surprise index. I am not sure if these are available in retail land - there's no reason they shouldn't be but the economic calendars online are very basic.
You’ll remember we talked about data not being good or bad of itself but good or bad relative to what was expected. These indices measure this difference.
If results are consistently better than analysts expect then you’ll see a positive number. If they are consistently worse than analysts expect a negative number. You can see they tend to swing from positive to negative.

Mean reversion at its best! Data surprise indices measure how much better or worse data came in vs forecast
There are many theories for this but in general people consider that analysts herd around the consensus. They are scared to be outliers and look ‘wrong’ or ‘stupid’ so they instead place estimates close to the pack of their peers.
When economic conditions change they may therefore be slow to update. When they are wrong consistently - say too bearish - they eventually flip the other way and become too bullish.
These charts can be interesting to give you an idea of how the recent data releases have been versus market expectations. You may try to spot the turning points in macroeconomic data that drive long term currency prices and trends.

Using recent events to predict future reactions

The market reaction function is the most important thing on an economic calendar in many ways. It means: what will happen to the price if the data is better or worse than the market expects?
That seems easy to answer but it is not.
Consider the example of consumer confidence we had earlier.
  • Many times the market will shrug and ignore it.
  • But when the economic recovery is predicated on a strong consumer it may move markets a lot.
Or consider the S&P index of US stocks (Wall Street).
  • If you get good economic data that beats analyst estimates surely it should go up? Well, sometimes that is certainly the case.
  • But good economic data might result in the US Central Bank raising interest rates. Raising interest rates will generally make the stock market go down!
So better than expected data could make the S&P go up (“the economy is great”) or down (“the Fed is more likely to raise rates”). It depends. The market can interpret the same data totally differently at different times.
One clue is to look at what happened to the price of risk assets at the last event.
For example, let’s say we looked at unemployment and it came in a lot worse than forecast last month. What happened to the S&P back then?

2% drop last time on a 'worse than expected' number ... so it it is 'better than expected' best guess is we rally 2% higher
So this tells us that - at least for our most recent event - the S&P moved 2% lower on a far worse than expected number. This gives us some guidance as to what it might do next time and the direction. Bad number = lower S&P. For a huge surprise 2% is the size of move we’d expect.
Again - this is a real limitation of online calendars. They should show next to the historic results (expected/actual) the reaction of various instruments.

Buy the rumour, sell the fact

A final example of an unpredictable reaction relates to the old rule of ‘Buy the rumour, sell the fact.’ This captures the tendency for markets to anticipate events and then reverse when they occur.

Buy the rumour, sell the fact
In short: people take profit and close their positions when what they expected to happen is confirmed.
So we have to decide which driver is most important to the market at any point in time. You obviously cannot ask every participant. The best way to do it is to look at what happened recently. Look at the price action during recent releases and you will get a feel for how much the market moves and in which direction.

Trimming or taking off positions

One thing to note is that events sometimes give smart participants information about positioning. This is because many traders take off or reduce positions ahead of big news events for risk management purposes.
Imagine we see GBPUSD rises in the hour before GDP release. That probably indicates the market is short and has taken off / flattened its positions.

The price action before an event can tell you about speculative positioning
If GDP is merely in line with expectations those same people are likely to add back their positions. They avoided a potential banana skin. This is why sometimes the market moves on an event that seemingly was bang on consensus.
But you have learned something. The speculative market is short and may prove vulnerable to a squeeze.

Two kinds of reversals

Fairly often you’ll see the market move in one direction on a release then turn around and go the other way.
These are known as reversals. Traders will often ‘fade’ a move, meaning bet against it and expect it to reverse.

Logical reversals

Sometimes this happens when the data looks good at first glance but the details don’t support it.
For example, say the headline is very bullish on German manufacturing numbers but then a minute later it becomes clear the company who releases the data has changed methodology or believes the number is driven by a one-off event. Or maybe the headline number is positive but buried in the detail there is a very negative revision to previous numbers.
Fading the initial spike is one way to trade news. Try looking at what the price action is one minute after the event and thirty minutes afterwards on historic releases.

Crazy reversals


Some reversals don't make sense
Sometimes a reversal happens for seemingly no fundamental reason. Say you get clearly positive news that is better than anyone expects. There are no caveats to the positive number. Yet the price briefly spikes up and then falls hard. What on earth?
This is a pure supply and demand thing. Even on bullish news the market cannot sustain a rally. The market is telling you it wants to sell this asset. Try not to get in its way.

Some key releases

As we have already discussed, different releases are important at different times. However, we’ll look at some consistently important ones in this final section.

Interest rates decisions

These can sometimes be unscheduled. However, normally the decisions are announced monthly. The exact process varies for each central bank. Typically there’s a headline decision e.g. maintain 0.75% rate.
You may also see “minutes” of the meeting in which the decision was reached and a vote tally e.g. 7 for maintain, 2 for lower rates. These are always top-tier data releases and have capacity to move the currency a lot.
A hawkish central bank (higher rates) will tend to move a currency higher whilst a dovish central bank (lower rates) will tend to move a currency lower.
A central banker speaking is always a big event

Non farm payrolls

These are released once per month. This is another top-tier release that will move all USD pairs as well as equities.
There are three numbers:
  • The headline number of jobs created (bigger is better)
  • The unemployment rate (smaller is better)
  • Average hourly earnings (depends)
Bear in mind these headline numbers are often off by around 75,000. If a report comes in +/- 25,000 of the forecast, that is probably a non event.
In general a positive response should move the USD higher but check recent price action.
Other countries each have their own unemployment data releases but this is the single most important release.

Surveys

There are various types of surveys: consumer confidence; house price expectations; purchasing managers index etc.
Each one basically asks a group of people if they expect to make more purchases or activity in their area of expertise to rise. There are so many we won’t go into each one here.
A really useful tool is the tradingeconomics.com economic indicators for each country. You can see all the major indicators and an explanation of each plus the historic results.

GDP

Gross Domestic Product is another big release. It is a measure of how much a country’s economy is growing.
In general the market focuses more on ‘advance’ GDP forecasts more than ‘final’ numbers, which are often released at the same time.
This is because the final figures are accurate but by the time they come around the market has already seen all the inputs. The advance figure tends to be less accurate but incorporates new information that the market may not have known before the release.
In general a strong GDP number is good for the domestic currency.

Inflation

Countries tend to release measures of inflation (increase in prices) each month. These releases are important mainly because they may influence the future decisions of the central bank, when setting the interest rate.
See the FX fundamentals section for more details.

Industrial data

Things like factory orders or or inventory levels. These can provide a leading indicator of the strength of the economy.
These numbers can be extremely volatile. This is because a one-off large order can drive the numbers well outside usual levels.
Pay careful attention to previous releases so you have a sense of how noisy each release is and what kind of moves might be expected.

Comments

Often there is really good stuff in the comments/replies. Check out 'squitstoomuch' for some excellent observations on why some news sources are noisy but early (think: Twitter, ZeroHedge). The Softbank story is a good recent example: was in ZeroHedge a day before the FT but the market moved on the FT. Also an interesting comment on mistakes, which definitely happen on breaking news, and can cause massive reversals.

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Euro is rolling down. Forecast as of 16.10.2020

Euro is rolling down. Forecast as of 16.10.2020
The EURUSDis being corrected down amid several negative factors. They are growing political risks in the USA, the second pandemic wave in Europe, and the high risk of a no-deal Brexit. Let us discuss how bad the situation is and male up a EURUSD trading plan.

Weekly euro fundamental forecast

The EURUSD is down to its two-week low for several reasons. The US stock indexes have been trading down for three consecutive days; additional restrictions are introduced in Paris and London because of COVID-19. Besides, the EU officials announce that agreeing a "fair" new partnership with Britain was "worth every effort" but that the bloc would not compromise at any cost, which sends the pound down. The euro bulls are trying to consolidate the price at the bottom of figure 17, betting on China’s rebound and the ECB’s unwillingness to boost the monetary stimulus before December.
China has attracted $6 billion in the dollar-backed obligations, which repeats the record of 2019. According to the median forecast of the financial analysts polled by the Wall Street Journal, China’s GDP will grow by 5.3% Y-o-Y in the third-quarter report, which is much higher than in the April-June period (+3.2%) and close to the data recorded in 2019 (6.1%). The foreign demand for Chinese securities and the optimism about economic rebound allowed the yuan to compensate for most losses resulted from PBoC’s FX interventions. These facts support the euro.
The euro bulls are also encouraged by the ECB’s unwillingness to expand the monetary stimulus at its October meeting. Despite a sharp downturn of the euro-area economy amid the second pandemic waves, the ECB officials believe there is no need yet to ease the monetary policy. According to the head of the Bank of Holland, Klaas Knot, the regulator needs additional information. The ECB Vice-President Luis de Guindos believes that since less than half of the money in the QE framework has been spent, there is no need to boost asset purchases.

ECB monetary stimulus spending


https://preview.redd.it/esnb9ht5dgt51.jpg?width=583&format=pjpg&auto=webp&s=dd293647240a19596f885ecf8728551baa93c363
Source: Bloomberg
The euro is supported by the fact that China’s economy is growing, and the ECB is unlikely to take active measures. However, the dollar demand increases amid the political uncertainty in the US associated with a lower global risk appetite, which sets the EURUSD bulls back.
The number of Americans filing for unemployment benefits rose by 898 thousand in the week ended October 10th, proving the US labor market needs an additional fiscal stimulus. A poor reading has sent the S&P 500 down and strengthened the greenback. Investors still bet on the Democrats’ victory on November 3. However, they are not willing to buy US stocks now, as they remember how Hillary Clinton, who was leading in the ratings, eventually lost to Donald Trump. If the US stock indices continue falling, the market situation will be similar to that of 2017. At that time, the ECB, discontent with the euro strengthening, used verbal interventions, and the pair failed to consolidate above 1.2.

Dynamics of EURUSD in 2017 and 2020


https://preview.redd.it/ck7knoc6dgt51.png?width=593&format=png&auto=webp&s=e04a6232ebb77be11ea89114fb412fd900e69381
Source: Nordea Markets

Weekly EURUSD trading plan

Remarkably, the EURUSD trend depends on the pound now. The UK is discontent with the EU's willingness to prepare for a no-deal Brexit can drop the GBPUSD deeper and send the euro towards $1.159-$1.162. I suggest one continue holding down the EURUSD shorts entered at level 1.178.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/euro-is-rolling-down-forecast-as-of-16102020/?uid=285861726&cid=62423
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Dollar goes up amid the troubles. Forecast as of 30.09.2020

Dollar goes up amid the troubles. Forecast as of 30.09.2020
Carry trades have been an important driver of the EURUSD fall in September. It should go on in October. Let us discuss the euro outlook and make up a EURUSD trading plan

Weekly fundamental US dollar forecast

Money rules the world. In summer, big traders were selling off the dollar. In autumn, they are eagerly buying it again. If we answer the question “Why?”, we can understand what will be next. The world is going to change after the pandemic and the US presidential election. The clue could be given by the assets crashed in September. It is not enough just to sell the greenback, one should buy something instead. Emerging markets’ currencies have significantly weakened in September, and the bet on carry trades hasn’t worked out. Carry traders were closing positions, going back to the US dollar, which has become one of its major growth drivers.
In 2015-2019, amid the Fed monetary normalization, the greenback lost its appeal as a funding currency, giving the way to the euro and the yen. 2020 should have begun the golden age for carry traders. The federal funds rate crashed to a zero level, Treasury yield rolled down to all-time lows, and the rise of the US stock indexes up from the March lows reassured investors pressing down the volatility. Furthermore, most analysts suggested a grim outlook for the dollar, and speculators increased the USD shorts to a two-year high. The situation was perfect for carry traders!

Dynamics of Treasury yield and break-even


Source: Wall Street Journal

Dynamics of USD speculative positions



Source: Wall Street Journal
Remarkably, this perfect world has crashed because of the Fed. The Fed, by its vague explanation of the new average inflation targeting policy, has triggered the volatility rise, which pressed down the global risk appetite and supported the greenback strengthening. The situation has also been fueled by the disputes among the Republicans and the Democrats about the new fiscal stimulus package. But the responsibility of the central bank is clear. The US presidential election is another factor, which increases the FX volatility, discourages carry traders, and drives the USD index up. The presidential election is going to be the most important topic for financial markets in October.
Ahead of the debates, the EURUSD rates were rising amid the concerns that Joe Biden could beat Donald Trump, which would send the dollar down. In fact, there wasn’t a constructive talk. The opponents frequently interrupted each other and even resorted to verbal insults, which emphasized their disrespect for each other. Based on the approval ratings, no one won. The major currency pair is unlikely to rally up. Uncertainty will drive Forex through November 4, and the greenback as a rule benefits form the uncertainty. Another matter is a new world. The world after the pandemic and the election. The world of carry trades and emerging markets’ currencies. After all, it too early to speculate about this.

Weekly trading plan for EURUSD

In the short run, the inability of the EURUSD bulls to drive the rates back above 1.18 will signal their weakness, increasing the risk of the consolidation in the range of 1.161-1.177. Especially since investors would rather wait and see ahead of the US jobs report. It makes sense to avoid trading or trade intraday.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/dollar-goes-up-amid-the-troubles-forecast-as-of-30092020/ ?uid=285861726&cid=62423
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Which site better for Fx news?

Newbie here. Trying to decide between DailyFx, FxStreet, and ForexFactory. Is there a big difference between them? Thanks in advance.
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EUR/USD forecast: Dollar is out of fashion

EUUSD forecast: Dollar is out of fashion

Fundamental U.S. dollar forecast for today

USD shorts are now the most popular Forex trading strategy

The market is driven by emotions. If the EUUSD bulls are taken by the euphoria, no negative economic data will hold them back! The U.S. industrial production data have exceeded the forecasts, the U.S. retail sales are back at the pre-crisis levels. In the euro-area, however, the euro-area employment has dropped the most on record since the series begun in 1995. But the euro buyers are going ahead. Investors are confident that the euro-area economy will recover, and the U.S. growth will face a recession amid the coronavirus pandemic.
BofA Merrill Lynch notes that 36% of asset managers surveyed by the bank said the U.S. dollar sell positions are their favourite trading strategy, the highest in the history of research. This strategy is much ahead of all the others, its proportion increased by 6% from 30% in July, and, most likely, it will continue to gain popularity. BofA Merrill Lynch names, among other reasons, the loss of the greenback's position as a reserve currency. In fact, the countries that are under pressure from the USA are active participants in the process of de-dollarization. The proportion of the US currency in the trade settlements between Russia and China has been for the first time below 50%. In 2015, for example, the dollar’s share in the Russia-China trade settlements was more than 90%.

Dynamics of USD share in China-Russia trade settlements



Source: Wall Street Journal
Washington tries to affect Moscow using sanctions, but it uses much more sophisticated measures concerning Beijing. President Donald Trump ordered ByteDance to divest the U.S. operations of its app TikTok as the social media will cease to work in the USA in 90 days. A U.S. reprieve that had allowed some US companies to work with Huawei without a license now expires. The USA warns that the sanctions will target other China’s corporations, including Alibaba.
The US-China relations are getting tense, the parties even delayed the meeting planned for August 15 to assess the fulfilment of obligations under the trade agreement signed in January. The EUUSD bulls, however, are not concerned about the trade conflict escalation. They expect that amid such a scenario the euro’s share in the global FX reserves will increase. According to 40% of asset managers polled by BofA Merrill Lynch, this process will start already in 2021.
Forex seems to be taken away by euphoria. Hedge funds’ dollar longs versus the world eight major currencies have been in the red for the first time since May 2018. The main reason is said to be speculators’ growing interest in the euro.

Dynamics of speculative dollar positions and Treasury real yields



Source: Bloomberg
Of course, bulls’ enthusiasm used to quickly result in the capitulation in the past. However, under the current conditions, I mean the difficult epidemiological situation in the USA, Fed’s grim projections, and the upcoming presidential election in November, the US stock indexes are growing, and the EUUSD can well grow as well. Amid the current situation, it is important to check buyers’ willingness to continue the rally anyway. If the resistance at 1.188 is broken out, the pair can well continue rising.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/eurusd-forecast-dollar-is-out-of-fashion/?uid=285861726&cid=79634
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I have missionfx, lucid fx , rockz, carter fx, wall street academy, Daniel savage bundke, ASTRO fx 2.0 and regular ASTRO fx, imperial fx, lamboraul, fibs don't lie , ict membership, steve mauro, nicks classes, ruth forex lady, dylans forexia course, Jeff fx mind shift, mark Douglas, Transparent fx, rocket launch, coin fx, fx Jake daily traders program, bull fx, market masters academy, liberate fx, bk forex, price action profits, urban forex 2.0, guerrilla trading, professsional forex trading masterclass, Rashad smith, six figure capital, piranha profits, trade currencies like big dogs, the traders mindset and switztrader
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Signal Skyline


Signal Skyline is a most accurate Forex signals providers. Subscribe us today for FX trade alerts daily. See Forex signals review! Signal Skyline provides a paid service that sends our subscribers daily Forex and commodities trading signals and forecasts.
Address: 250, Younge Street Canada
Website: https://www.signalskyline.com/
submitted by DueValuable15 to u/DueValuable15 [link] [comments]

Signal Skyline


Signal Skyline is a most accurate Forex signals providers. Subscribe us today for FX trade alerts daily. See Forex signals review! Signal Skyline provides a paid service that sends our subscribers daily Forex and commodities trading signals and forecasts.
Address: 250, Younge Street Canada
Website: https://www.signalskyline.com/
submitted by DueValuable15 to u/DueValuable15 [link] [comments]

Interesting question I saw on someone's feed that got me thinking..

I love Fx game and the constant cat and mouse. However, the guy who turned me onto Forex (very successful trader) is a personal friend of mine on Facebook.
Our other mutual friend is a "WallStreet" guy. He asked a simple question to my Forex friend:
"Why risk your money on Foreign Exchange when you can completely liquidate your account? At least with stocks you still hold those shares, even if you're wrong and it goes the other way."

That is a good point that I never considered.
submitted by DanicaHamlin to Forex [link] [comments]

Signal Skyline

Signal Skyline is a most accurate Forex signals providers. Subscribe us today for FX trade alerts daily. See Forex signals review! Signal Skyline provides a paid service that sends our subscribers daily Forex and commodities trading signals and forecasts.
Address: 250, Younge Street Canada
Website: https://www.signalskyline.com/
submitted by DueValuable15 to u/DueValuable15 [link] [comments]

The single currency defended the support

The single currency defended the support

PipsWin - EURUSD
#EURUSD
The single currency defended the support at 1.0964, the 76.4% Fibonacci retracement of the rally from 1.0879 to 1.1240, on Thursday, but so far, the bounce has been capped above 1.0980.
Today last price: 1.0983 Today Daily Change: 0.0004 Today Daily Change %: 0.04 Today daily open: 1.0979
#forex #analysis #currency #eur #usd #signalprovider pipswin.com
Source: FX Street
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Year End/Year Beginning Ruminations (Contributions wanted and welcome from everyone)

Hi all, I wanted to post some ruminations on trading that hit me this year. Most of this is common sense, but sometimes it helps to put it to words or to see others who are going through it.
TIMES OF STRESS
So, this is not a pity party for Huachi, instead it is a hard but good lesson learned that I need to pass on;. I like this sub, I'm an experienced trader (FX and stock) with a decent background in options and Futures, and was trying to be actively involved in TheWallStreet as well as growing my trading capital and my retirement accounts. Back in September, I had a family emergency that was medical in nature. This required my total attention, with emergency time off from work, where I had to care for that family member medically (I'm in the medical field, I do this for a living, and it still was a massive undertaking), as well as dealing with the fallout of that person's life choices. This is soft language for I love this person but their life can be a trainwreck that I had clean up. This meant 100% mental energy 100% of the time for 2 months solid, burning FMLA the whole time. I was not in the mind to do anything else, but unfortunately right after hitting the ground, I took an open position that turned out to be a bad idea - I was short /LE and /ZS in the form of long puts, and took that position just prior to a hurricane scare (which spiked Soybeans) as well as a bull market (no pun... well maybe not) for cattle. I held till death, no stop loss, no reflection, no GTFO we are in trouble. This cost me a good 8K in trading capital that I sorely needed and still need today.
When you are massively stressed, your worst trading habits, whatever they are, will come out in spades. Gambler? You are going to be hitting the craps table with your account. Revenge trader? You'll hold till you die on something that you would have bailed on during normal times. Poor sizer? Risking 100% with no stop loss is the par.... you get the drift. Your worst habits will come out in droves. I'm a seasoned trader and investor, but I have horrible impulse control that I have had to overcome with years of work to be successful in doing this. Self analyze, and realize that the same battle you fight everyday doing this wonderful trading business is going to be amplified exponentially in a stressor.
My advice to most of you (not all, because some would be able to focus, but most won't) is to exit all positions when a true, bad ass emergency happens. I don't care how confident you are in them, if you cannot treat this trading as a second career and keep those positions under your hawk's eye, and start to back burner it, it is going to burn you. Exit all positions immediately, even at a loss, come back with a clear head when the situation has resolved. Family emergency, girl/boy emergency, your children emergency, work emergency, whatever, being open during this can kill you. I wish I had that 8K back, but I don't. Between that loss and then the output of almost 20K of my own cash money just to pay bills, I have a tiny trading account now!!
EDIT: This wasn't rent money.
CAREER
Which brings me to this. I don't see it as much here as I do on other subs (especially Forex and WSB), but there are enough new traders that I see trying to trade gamble their way out of a dead end job or unhappy career. Many of the traders here, especially the ones wielding big gains, already have established, well paying careers in professional fields. I am one of them. Your earnings flow from your sweat equity. I spent years in a dead end, high hours, low pay and low reward job trying to wagegamble/trade my way out of a life that was unhappy. Now, that gave me a solid experience base, but trying to flip $300 in Forex money into spendable cash was just not going to happen, at least for me.... and this is true for most traders. You want a career that is intellectually and fiscally rewarding and that leaves you with some free time. I recognize that this is Dad advice, but your trading will prosper once you have a good career that produces healthy revenue that you can trade. As well, when faced with the aforementioned emergency, you can re-capitalize in a relatively short time and get back to work. I estimate I should be OK by March/April for funds... but I don't want to tempt the Gods.
ROTH IRA
Total right turn here, but do you have a Roth IRA? I am a believer in this vehicle. The benefit of a Roth is that whatever gains you make you keep. You pay no taxes as what goes into the Roth is after tax money. This means you can amplify your earnings. Your Roth maximum contribution is capped at $5500 per year for 2018, but as you grow that, you owe no taxes. Roth is a retirement account accessible at 59 1/2 years, and also can serve as an emergency fund because it has some accessibility as one. In short, get a Roth! You aren't being eaten by quarterly taxes, and you can grow yours wonderfully.
Good luck everybody. Ruminations, advice, comments, and snide remarks are welcome below.
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Goldman Sachs sales executive on automation on trading floor - Business Insider

fintech #trading #algotrading #quantitative #quant #quants #forex #fx #banks #hedgefunds #hft

Goldman Sachs sales executive on automation on trading floor Technology is a great democratizing force on Wall Street and is forcing management teams to rethink their sales and trading businesses. Automation, electronification and digitization means the traditional advantages exploited by capital markets incumbents like capital and scale are no longer the key differentiators going forward. Consequently, technologists have made the transition from cost center to front office and are now considered the key source of competitive advantage. Automation has started to move into areas of sales & trading that would have seemed impossible only a few years ago. For example, Goldman Sachs recently announced they can price 20,000 bonds algorithmically, without a human trader. Salespeople and traders fear what this may bring. Read more: BlackRock now has a higher percentage of technologists than JPMorgan, and it says a lot about the future of the money-management industry But while a lot has b..... Continue reading at: https://www.businessinsider.com/goldman-sachs-executive-on-technology-automation-wall-street-2018-12
submitted by silahian to quant_hft [link] [comments]

No, algorithms aren't causing all the wild stock market swings - Business Insider

fintech #trading #algotrading #quantitative #quant #quants #forex #fx #banks #hedgefunds #hft

No, algorithms aren't causing all the wild stock market swings The wild swings and see-sawing of markets these last few days was unprecedented in many ways. But one aspect of the week ended up being very predictable: Like clockwork after any sudden jolt and market event, big investors come out and point the finger at algorithms. The argument goes something like this: Electronic trading programs feed off each other to cause an "invisible herding effect" that amplifies price moves, capable of turning a minor downward market trajectory into a full-blown bloodbath, all in a matter of milliseconds. Now that electronic trading makes up huge swathes of the market, a sea change from only a few decades ago, it's obvious that robot traders are causing the plunges and rallies like those of this week. "Electronic traders are wreaking havoc in the markets," Leon Cooperman, the billionaire stock picker who founded hedge fund Omega Advisors, told the Wall Street Journal. JPMorgan Asset Management..... Continue reading at: https://www.businessinsider.com/no-algorithms-arent-causing-all-the-wild-stock-market-swings-2018-12
submitted by silahian to quant_hft [link] [comments]

FXStreet - YouTube ICT Mentorship - Learn How To Read Forex Price Action ... FXstreetCZ - YouTube Týdenní analýza FXstreet.cz: Forex, komodity, akcie a kryptoměny

El Curso de Forex consta de 4 unidades, cada una orientada a contenidos de valor estructurados en varios capítulos. Cada capítulo trata sobre diversos temas que van desde los niveles básicos hasta los avanzados. En realidad no hay partes para principiantes o para traders avanzados, cada una de ellas puede ser utilizada como una unidad de aprendizaje independiente. Real-time forex news and the latest trading updates. What you need to know now about the GBP, Dollar, Yen, Euro and minors. The real-time Economic Calendar covers economic events and indicators from around the world, including the US, the UK, Canada and Australia, and is automatically updated when new data is released FXStreet is a leading source for reliable news and real time Forex analysis. FXStreet offers real-time exchange rates, charts and an economic calendar. FXStreet es el portal lider de notícias y analísis sobre Forex. Ofrece gráficos y tipos de cambio en tiempo real y un calendario económico. FXStreet ist die führende Quelle für zuverlässige Nachrichten und Forex-Analysen mit Echtzeit-Wechselkursen, Charts und Wirtschaftskalender. FXStreet Forex piyasaları ile ilgili güvenilir güncel haber ve analiz portalıdır. FXStreet Forex piyasaları ile ilgili eş zamanlı parite grafikleri ve ekonomi takvimi içermektedir. FXStreet est une source majeure d’informations fiables et d’analyses Forex en temps réel. FXStreet propose des taux de change en temps réel, des graphiques et un calendrier économique. Forex street, neboli FXstreet.cz je nejnavštěvovanější portál o obchodování na forexu u nás. Forex zpravodajství je zóna portálu FXstreet.cz, kde najdete nejnovější zprávy ze světa forexu, stejně tak jako forex zone nebo vzdělávací zóna. Forex robot je jiný název pro automatický obchodní systém, nebo také AOS, který ... FXStreet ist verlässlich und Sie können dem Kalender vertrauen. Es ist der vollständigste, hochwertigste und pünktlichste Kalender im Forex Markt. Wir haben ein engagiertes Team von Ökonomen und Journalisten, die die Daten 24 Stunden, 5 Tage in der Woche aktualisieren.

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FXStreet - YouTube

Steve Nison: Using Nison Candlesticks to Catch the Next Move in Forex - Duration: 22:16. FXStreet 49,570 views. 22:16. How to Trade with Fibonacci Levels - Duration: 1:00:28. Manesh Patel 994,521 ... FXStreet - YouTube. FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. On this channel you'll find extracts of webinars, demos and inte... FXstreet.cz je první nezávislý server o FOREX tradingu v České republice a na Slovensku. Naším cílem je vytvoření komunity úspěšných FOREX traderů. Pokud chc... Pravidelný týdenní komentář k aktuálnímu vývoji na měnových trzích (forex) od profesionálního tradera a analytika Patrika Urbana ze společnosti FXstreet.cz - https://www.fxstreet.cz. Trend Detection Software- https://bit.ly/37yi0vY Forex Backtesting Simulator- https://ForexSimulator.com Indicators- https://PipsAhoy.com/downloads Good brok... Excerpts of the webinars broadcast on FXstreet. Sovereign debt crisis in the Euro zone, and the Euro technical outlook for this year An Example of ICT Concepts in Intraday Trading.Follow Me on Twitter at @I_Am_ICT

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