EURCHF News - CFDTrading

Former investment bank FX trader: Risk management part 3/3

Former investment bank FX trader: Risk management part 3/3
Welcome to the third and final part of this chapter.
Thank you all for the 100s of comments and upvotes - maybe this post will take us above 1,000 for this topic!
Keep any feedback or questions coming in the replies below.
Before you read this note, please start with Part I and then Part II so it hangs together and makes sense.
Part III
  • Squeezes and other risks
  • Market positioning
  • Bet correlation
  • Crap trades, timeouts and monthly limits

Squeezes and other risks

We are going to cover three common risks that traders face: events; squeezes, asymmetric bets.

Events

Economic releases can cause large short-term volatility. The most famous is Non Farm Payrolls, which is the most widely watched measure of US employment levels and affects the price of many instruments.On an NFP announcement currencies like EURUSD might jump (or drop) 100 pips no problem.
This is fine and there are trading strategies that one may employ around this but the key thing is to be aware of these releases.You can find economic calendars all over the internet - including on this site - and you need only check if there are any major releases each day or week.
For example, if you are trading off some intraday chart and scalping a few pips here and there it would be highly sensible to go into a known data release flat as it is pure coin-toss and not the reason for your trading. It only takes five minutes each day to plan for the day ahead so do not get caught out by this. Many retail traders get stopped out on such events when price volatility is at its peak.

Squeezes

Short squeezes bring a lot of danger and perhaps some opportunity.
The story of VW and Porsche is the best short squeeze ever. Throughout these articles we've used FX examples wherever possible but in this one instance the concept (which is also highly relevant in FX) is best illustrated with an historical lesson from a different asset class.
A short squeeze is when a participant ends up in a short position they are forced to cover. Especially when the rest of the market knows that this participant can be bullied into stopping out at terrible levels, provided the market can briefly drive the price into their pain zone.

There's a reason for the car, don't worry
Hedge funds had been shorting VW stock. However the amount of VW stock available to buy in the open market was actually quite limited. The local government owned a chunk and Porsche itself had bought and locked away around 30%. Neither of these would sell to the hedge-funds so a good amount of the stock was un-buyable at any price.
If you sell or short a stock you must be prepared to buy it back to go flat at some point.
To cut a long story short, Porsche bought a lot of call options on VW stock. These options gave them the right to purchase VW stock from banks at slightly above market price.
Eventually the banks who had sold these options realised there was no VW stock to go out and buy since the German government wouldn’t sell its allocation and Porsche wouldn’t either. If Porsche called in the options the banks were in trouble.
Porsche called in the options which forced the shorts to buy stock - at whatever price they could get it.
The price squeezed higher as those that were short got massively squeezed and stopped out. For one brief moment in 2008, VW was the world’s most valuable company. Shorts were burned hard.

Incredible event
Porsche apparently made $11.5 billion on the trade. The BBC described Porsche as “a hedge fund with a carmaker attached.”
If this all seems exotic then know that the same thing happens in FX all the time. If everyone in the market is talking about a key level in EURUSD being 1.2050 then you can bet the market will try to push through 1.2050 just to take out any short stops at that level. Whether it then rallies higher or fails and trades back lower is a different matter entirely.
This brings us on to the matter of crowded trades. We will look at positioning in more detail in the next section. Crowded trades are dangerous for PNL. If everyone believes EURUSD is going down and has already sold EURUSD then you run the risk of a short squeeze.
For additional selling to take place you need a very good reason for people to add to their position whereas a move in the other direction could force mass buying to cover their shorts.
A trading mentor when I worked at the investment bank once advised me:
Always think about which move would cause the maximum people the maximum pain. That move is precisely what you should be watching out for at all times.

Asymmetric losses

Also known as picking up pennies in front of a steamroller. This risk has caught out many a retail trader. Sometimes it is referred to as a "negative skew" strategy.
Ideally what you are looking for is asymmetric risk trade set-ups: that is where the downside is clearly defined and smaller than the upside. What you want to avoid is the opposite.
A famous example of this going wrong was the Swiss National Bank de-peg in 2012.
The Swiss National Bank had said they would defend the price of EURCHF so that it did not go below 1.2. Many people believed it could never go below 1.2 due to this. Many retail traders therefore opted for a strategy that some describe as ‘picking up pennies in front of a steam-roller’.
They would would buy EURCHF above the peg level and hope for a tiny rally of several pips before selling them back and keep doing this repeatedly. Often they were highly leveraged at 100:1 so that they could amplify the profit of the tiny 5-10 pip rally.
Then this happened.

Something that changed FX markets forever
The SNB suddenly did the unthinkable. They stopped defending the price. CHF jumped and so EURCHF (the number of CHF per 1 EUR) dropped to new lows very fast. Clearly, this trade had horrific risk : reward asymmetry: you risked 30% to make 0.05%.
Other strategies like naively selling options have the same result. You win a small amount of money each day and then spectacularly blow up at some point down the line.

Market positioning

We have talked about short squeezes. But how do you know what the market position is? And should you care?
Let’s start with the first. You should definitely care.
Let’s imagine the entire market is exceptionally long EURUSD and positioning reaches extreme levels. This makes EURUSD very vulnerable.
To keep the price going higher EURUSD needs to attract fresh buy orders. If everyone is already long and has no room to add, what can incentivise people to keep buying? The news flow might be good. They may believe EURUSD goes higher. But they have already bought and have their maximum position on.
On the flip side, if there’s an unexpected event and EURUSD gaps lower you will have the entire market trying to exit the position at the same time. Like a herd of cows running through a single doorway. Messy.
We are going to look at this in more detail in a later chapter, where we discuss ‘carry’ trades. For now this TRYJPY chart might provide some idea of what a rush to the exits of a crowded position looks like.

A carry trade position clear-out in action
Knowing if the market is currently at extreme levels of long or short can therefore be helpful.
The CFTC makes available a weekly report, which details the overall positions of speculative traders “Non Commercial Traders” in some of the major futures products. This includes futures tied to deliverable FX pairs such as EURUSD as well as products such as gold. The report is called “CFTC Commitments of Traders” ("COT").
This is a great benchmark. It is far more representative of the overall market than the proprietary ones offered by retail brokers as it covers a far larger cross-section of the institutional market.
Generally market participants will not pay a lot of attention to commercial hedgers, which are also detailed in the report. This data is worth tracking but these folks are simply hedging real-world transactions rather than speculating so their activity is far less revealing and far more noisy.
You can find the data online for free and download it directly here.

Raw format is kinda hard to work with

However, many websites will chart this for you free of charge and you may find it more convenient to look at it that way. Just google “CFTC positioning charts”.

But you can easily get visualisations
You can visually spot extreme positioning. It is extremely powerful.
Bear in mind the reports come out Friday afternoon US time and the report is a snapshot up to the prior Tuesday. That means it is a lagged report - by the time it is released it is a few days out of date. For longer term trades where you hold positions for weeks this is of course still pretty helpful information.
As well as the absolute level (is the speculative market net long or short) you can also use this to pick up on changes in positioning.
For example if bad news comes out how much does the net short increase? If good news comes out, the market may remain net short but how much did they buy back?
A lot of traders ask themselves “Does the market have this trade on?” The positioning data is a good method for answering this. It provides a good finger on the pulse of the wider market sentiment and activity.
For example you might say: “There was lots of noise about the good employment numbers in the US. However, there wasn’t actually a lot of position change on the back of it. Maybe everyone who wants to buy already has. What would happen now if bad news came out?”
In general traders will be wary of entering a crowded position because it will be hard to attract additional buyers or sellers and there could be an aggressive exit.
If you want to enter a trade that is showing extreme levels of positioning you must think carefully about this dynamic.

Bet correlation

Retail traders often drastically underestimate how correlated their bets are.
Through bitter experience, I have learned that a mistake in position correlation is the root of some of the most serious problems in trading. If you have eight highly correlated positions, then you are really trading one position that is eight times as large.
Bruce Kovner of hedge fund, Caxton Associates
For example, if you are trading a bunch of pairs against the USD you will end up with a simply huge USD exposure. A single USD-trigger can ruin all your bets. Your ideal scenario — and it isn’t always possible — would be to have a highly diversified portfolio of bets that do not move in tandem.
Look at this chart. Inverted USD index (DXY) is green. AUDUSD is orange. EURUSD is blue.

Chart from TradingView
So the whole thing is just one big USD trade! If you are long AUDUSD, long EURUSD, and short DXY you have three anti USD bets that are all likely to work or fail together.
The more diversified your portfolio of bets are, the more risk you can take on each.
There’s a really good video, explaining the benefits of diversification from Ray Dalio.
A systematic fund with access to an investable universe of 10,000 instruments has more opportunity to make a better risk-adjusted return than a trader who only focuses on three symbols. Diversification really is the closest thing to a free lunch in finance.
But let’s be pragmatic and realistic. Human retail traders don’t have capacity to run even one hundred bets at a time. More realistic would be an average of 2-3 trades on simultaneously. So what can be done?
For example:
  • You might diversify across time horizons by having a mix of short-term and long-term trades.
  • You might diversify across asset classes - trading some FX but also crypto and equities.
  • You might diversify your trade generation approach so you are not relying on the same indicators or drivers on each trade.
  • You might diversify your exposure to the market regime by having some trades that assume a trend will continue (momentum) and some that assume we will be range-bound (carry).
And so on. Basically you want to scan your portfolio of trades and make sure you are not putting all your eggs in one basket. If some trades underperform others will perform - assuming the bets are not correlated - and that way you can ensure your overall portfolio takes less risk per unit of return.
The key thing is to start thinking about a portfolio of bets and what each new trade offers to your existing portfolio of risk. Will it diversify or amplify a current exposure?

Crap trades, timeouts and monthly limits

One common mistake is to get bored and restless and put on crap trades. This just means trades in which you have low conviction.
It is perfectly fine not to trade. If you feel like you do not understand the market at a particular point, simply choose not to trade.
Flat is a position.
Do not waste your bullets on rubbish trades. Only enter a trade when you have carefully considered it from all angles and feel good about the risk. This will make it far easier to hold onto the trade if it moves against you at any point. You actually believe in it.
Equally, you need to set monthly limits. A standard limit might be a 10% account balance stop per month. At that point you close all your positions immediately and stop trading till next month.

Be strict with yourself and walk away
Let’s assume you started the year with $100k and made 5% in January so enter Feb with $105k balance. Your stop is therefore 10% of $105k or $10.5k . If your account balance dips to $94.5k ($105k-$10.5k) then you stop yourself out and don’t resume trading till March the first.
Having monthly calendar breaks is nice for another reason. Say you made a load of money in January. You don’t want to start February feeling you are up 5% or it is too tempting to avoid trading all month and protect the existing win. Each month and each year should feel like a clean slate and an independent period.
Everyone has trading slumps. It is perfectly normal. It will definitely happen to you at some stage. The trick is to take a break and refocus. Conserve your capital by not trading a lot whilst you are on a losing streak. This period will be much harder for you emotionally and you’ll end up making suboptimal decisions. An enforced break will help you see the bigger picture.
Put in place a process before you start trading and then it’ll be easy to follow and will feel much less emotional. Remember: the market doesn’t care if you win or lose, it is nothing personal.
When your head has cooled and you feel calm you return the next month and begin the task of building back your account balance.

That's a wrap on risk management

Thanks for taking time to read this three-part chapter on risk management. I hope you enjoyed it. Do comment in the replies if you have any questions or feedback.
Remember: the most important part of trading is not making money. It is not losing money. Always start with that principle. I hope these three notes have provided some food for thought on how you might approach risk management and are of practical use to you when trading. Avoiding mistakes is not a sexy tagline but it is an effective and reliable way to improve results.
Next up I will be writing about an exciting topic I think many traders should look at rather differently: news trading. Please follow on here to receive notifications and the broad outline is below.
News Trading Part I
  • Introduction
  • Why use the economic calendar
  • Reading the economic calendar
  • Knowing what's priced in
  • Surveys
  • Interest rates
  • First order thinking vs second order thinking
News Trading 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 mysterious 'position trim' effect
  • Reversals
  • Some key FX releases
***

Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
submitted by getmrmarket to Forex [link] [comments]

eToro: impressions, doubts and (ignored) lessons from copy trading

(no promotional content, no affiliate links)
Hi,
exactly four years ago, I started copying eToro investors / traders that I selected using the broker's built-in search engine (profitable in last two years, already being copied by others), followed by manual filtering, to take into account fluctuations in yearly returns, composition of their portfolios etc. With that, I got a list of 10 people whom I started to copy on a demo account:
https://drive.google.com/file/d/1u52f0XHfr-LauIscKcFDYF0yGTTUr6VY/view?usp=sharing
In the screenshot you can see that in case of the first two of them the amount invested was $10,000, while for the rest it was just $100. This is because I started copying the first two a couple of weeks earlier; eventually I changed this into $100 the same day I made the screenshot and this is when my calculations start - so this thing is irrelevant, I just cannot travel in time to make another screenshot.
What I did after that?
Well, within the next six weeks my profits oscillated between -$11 and +$9.50 (the biggest profit was on Nov 9, a day after US presidential elections). I found this "boring" and discontinued experimenting with copy trading.
Today I looked back at those ten traders. Here is what I found. Firstly, seven of them are not with eToro anymore; investorNo1, Simple-Stock-Mkt, tradingrelax, 4exPirate, primit, Gallojack, xjurokx. The other three traders are:
My observations and thoughts are as follows:
  1. Seven out of ten traders are not with eToro anymore, which makes me wonder why. I have no proof but my guess is they simply performed poorly, lost their copiers and closed their accounts. This is already alarming but what if they opened another account? Or, even worse, multiple accounts? They could be investing small money and try different risky approaches, hoping that at least one account will turn out profitable in the long turn, attracting potential copiers. (I'm not claiming that those 7 particular traders did this, it's just my general suspicion regarding some of eToro traders)
  2. I'm unable to calculate what would be my profit if I never stopped copying them, because I cannot check at what day and with what profit those seven traders left eToro. I'm guessing this would be an immense loss. On the other hand, considering the three traders who are still with eToro, I would lose more than a quarter of my assets!
What now?
I must be a quite adventurous person or at least an incorrigible optimist, because a month ago (exactly on Aug 26th) I started copying three traders with real money. Here is who they are.
rubymza (Heloise Greeff)

OlivierDanvel (Olivier Jean Andre Danvel)

rayvahey (Raymond Noel Vahey)
What was my strategy to hand-pick these particular traders? First I did some basic scanning using eToro's built-in search engine. The most important filter was that the trader was profitable within the last two years: unfortunately, eToro does not allow to reach details of earlier performance automatically. To know how the trader performed before 2019, I had to look at stats in the profile of each of them. I was also taking into account how often they trade (to avoid those who do only a couple of trades yearly), whether they were trading recently and whether they write posts regularly in their feed. With this, I got a list of fifteen candidates to copy:
As you already know, I finally chose three of them. Rubymza seemed to be the most trustworthy stock trader, based on profits, posts feed and regular trading, among other things. Regarding OlivierDanvel, his uniqueness is the ability to record continuous profits with the Forex market. Finally, with rayvahey I wanted to increase my exposure to the commodities market.
Wish me good luck!
Michael

P.S.
You might find those copy-trading related readings interesting:

Disclosures:
submitted by investing-scientist2 to StockMarket [link] [comments]

Copy trading with eToro: impressions, doubts and (ignored) lessons

(no promotional content, no affiliate links)
Hi,
exactly four years ago, I started copying eToro investors / traders that I selected using the broker's built-in search engine (profitable in last two years, already being copied by others), followed by manual filtering, to take into account fluctuations in yearly returns, composition of their portfolios etc. With that, I got a list of 10 people whom I started to copy on a demo account:
https://drive.google.com/file/d/1u52f0XHfr-LauIscKcFDYF0yGTTUr6VY/view?usp=sharing
In the screenshot you can see that in case of the first two of them the amount invested was $10,000, while for the rest it was just $100. This is because I started copying the first two a couple of weeks earlier; eventually I changed this into $100 the same day I made the screenshot and this is when my calculations start - so this thing is irrelevant, I just cannot travel in time to make another screenshot.
What I did after that?
Well, within the next six weeks my profits oscillated between -$11 and +$9.50 (the biggest profit was on Nov 9, a day after US presidential elections). I found this "boring" and discontinued experimenting with copy trading.
Today I looked back at those ten traders. Here is what I found. Firstly, seven of them are not with eToro anymore; investorNo1, Simple-Stock-Mkt, tradingrelax, 4exPirate, primit, Gallojack, xjurokx. The other three traders are:
My observations and thoughts are as follows:
  1. Seven out of ten traders are not with eToro anymore, which makes me wonder why. I have no proof but my guess is they simply performed poorly, lost their copiers and closed their accounts. This is already alarming but what if they opened another account? Or, even worse, multiple accounts? They could be investing small money and try different risky approaches, hoping that at least one account will turn out profitable in the long turn, attracting potential copiers. (I'm not claiming that those 7 particular traders did this, it's just my general suspicion regarding some of eToro traders)
  2. I'm unable to calculate what would be my profit if I never stopped copying them, because I cannot check at what day and with what profit those seven traders left eToro. I'm guessing this would be an immense loss. On the other hand, considering the three traders who are still with eToro, I would lose more than a quarter of my assets!
What now?
I must be a quite adventurous person or at least an incorrigible optimist, because a month ago (exactly on Aug 26th) I started copying three traders with real money. Here is who they are.
rubymza (Heloise Greeff)

OlivierDanvel (Olivier Jean Andre Danvel)

rayvahey (Raymond Noel Vahey)
What was my strategy to hand-pick these particular traders? First I did some basic scanning using eToro's built-in search engine. The most important filter was that the trader was profitable within the last two years: unfortunately, eToro does not allow to reach details of earlier performance automatically. To know how the trader performed before 2019, I had to look at stats in the profile of each of them. I was also taking into account how often they trade (to avoid those who do only a couple of trades yearly), whether they were trading recently and whether they write posts regularly in their feed. With this, I got a list of fifteen candidates to copy:
As you already know, I finally chose three of them. Rubymza seemed to be the most trustworthy stock trader, based on profits, posts feed and regular trading, among other things. Regarding OlivierDanvel, his uniqueness is the ability to record continuous profits with the Forex market. Finally, with rayvahey I wanted to increase my exposure to the commodities market.
Wish me good luck!
Michael

P.S.
You might find those copy-trading related readings interesting:

Disclosures:
submitted by investing-scientist2 to InvestmentClub [link] [comments]

Eurchf, what happened?

Today I managed to take a short on the pair. Basically it reversed and I entered. Price was really bullish before today and it reversed. I'm happy to make a profit but there's a feeling that I was just dumb lucky.
What happened to eurchf? I don't see why from a TA view it reversed. And I looked at news but I'm not sure why this happened.
Was there a logical reason? I'm noticing that forex markets can move +50 pips in a day without needing a catalyst (or maybe it does and I'm still not understanding it).
Please help a lost soul haha.
Thanks for any input.
submitted by crashbandishocks to Forex [link] [comments]

Forex Robot Review - BF Scalper PRO

BF Scalper PRO is an expert advisor which is fully automated. It supports multiple currency pairs - GBPUSD, EURUSD, EURCHF, EURAUD, EURCAD, GBPCAD, USDCAD, USDCHF and USDJPY. The robot has reasonable SL/TP levels, including ATR based algorithm. It is professional version of another free forex robot BF Scalper EA. This system has an optional grid system which is not active by default. So, if you are keen on trading grid strategy you can activate it. The EA works with low drawdown.
In addition, this expert advisor includes strong system such as advanced news filter, volatility filter. What gets my attention about this EA is the email and push notifications system. This is not all, there is an option to use Friday exit system.
If you want to read more please visit https://www.forexmarketcoupon.com/blog/forex-robot-review-bf-scalper-pro-33
submitted by forexmarketcoupon to u/forexmarketcoupon [link] [comments]

Setups This Week (8th May - 12th May)

Hey all, I know I said I'd be back for last week but I realized that I'd just be forcing myself to post premature ideas that are lower in 'quality' - especially since my ideas are usually long-term, so that didn't really sit well with me.
Recap from last week
1) USDCAD: Oh boy, if I could hear the 'X' sound from America's Got Talent on cue, I would need it right about now. Though the USD has been under-performing lately, the CAD took that sentiment and dialed it up to 10 resulting in a pair that has broken through the daily local maximum and looking towards 1.40. Shit happens right? Graph
2) EURCAD: Unlike it's older brother that is still respecting the structure (EURUSD), the strength of the EUR following the first round of the French elections combined with CAD's weakness has resulted in a massive jump that has all but invalidated the ABCD pattern. However, if you managed to take the aggressive entry I posted on the idea, you would have gotten all 600 pips on the C-D leg completion which is a beautiful result for a 9 day trade. Graph
New Setups
1) GBPUSD: What we can see here is a very clear channel that the pair has been trading in since the Brexit vote almost one year ago. From this, we can use fibonacci retracements to outline very clear and distinct levels that the price is using to bounce off of. As of today, the price seems to be entering a rather important decision point where it may attempt to break through the 0.618 level - indicating a rather significant bullish run for the pair. The alternative is that it may attempt to test the 0.5 level which is the border between the two adjacent channels, and from here it can either bounce upwards to test the 0.618 level again or it can break through it downwards indicating that the pair will likely stay in this lower channel.
The GBP has been rallying as of late but the USD has also been gaining some traction. I would predict that although the USD has shown signs of life, it may be a short lived run compared to the GBP. So with regards to this structure, I would say that the price is headed back down to the 0.5 level to test it before rallying up and over the 0.618 level. The RSI indicates that the pair is very oversold so it seems to support this prediction of a brief bearish trend followed by an OVERALL bullish trend . I stress that word because we can always expect some consolidation and brief reversals off the major S&R levels outlined here. Assuming the price breaks through the 0.618 level, we'll be analyzing the upper channel and using its fibonacci retracements (marked in blue) to determine the possible targets. Upper play Entry: 1.29656 TP: 1.30953, 1.32023, 1.33320 SL: 1.29042 -- Lower Play Entry: 1.28618 TP: 1.27613 SL: 1.28910 Graph
2) EURCHF: I've never traded this pair, but I drew out the formation of the falling wedge quite a while ago and knew that the Euro's recent massive surge must have broken through it. This is a very interesting situation as it means that the price is trying to rally back to its recent maximum at 1.19 - and possibly even beyond that. The ones that have been following my ideas in the past will have noticed that I avoid trading the news so it wasn't a realistic idea to assume that the price would have broken through the way it did (we'd be gambling if we tried to trade the elections). However now that it has, I can see it hitting these 3 strong daily S&R levels with a bit of consolidation in between. The reason why this entry is a little higher than usual is because we can see a clear area of consolidation (marked by the blue rectangle ) where the price may experience a similar fate. If that area is cleared, then we can reasonably expect the aforementioned targets to be hit with ease. Setup Entry: 1.09031 SL: 1.08015 TP: 1.09749, 1.11050, 1.12054 Graph
I really do appreciate all the kind words and support from a lot of people on the sub and I'm going to try and do these posts as much as I can, but sometimes I'm just waiting for pairs to show their hand so I can make a reasonable prediction. I feel like I've been on point more often than not, and forcing the ideas when they're not ready will almost certainly result in a dip in quality. That said, there are a lot of my older long-term ideas that are currently panning out (due to their nature) and unless you're going through my posts, some of you won't even get to see them so here are some of the older posts:
20th - 24th March
27th - 31st March
2nd - 7th April
17th-21st April
24th - 28th April
I wish it was, but this isn't the gospel so please take the necessary precautions when trading
Have a good week and good luck!
submitted by Invictavis to Forex [link] [comments]

Current State of the Brokers

Still Operating
In Danger
Shutdown
No Annoucement
submitted by J2000_ca to Forex [link] [comments]

My finalized trading plan for the week of 11/20/16

I have decided there isn't a risk worth taking at the week's open but I'm interested in hearing your opinions
Things I will take action on this week if they happen:
A USDCAD pull back into 1.32 would cause me to enter long SL 1.29 TP 1.37
A USDJPY pull back into 107 would cause me to enter long SL 104 TP 115
A AUDNZD pull back into 1.065 would cause me to enter short SL 108 TP 104
This is subject to change based on news and analysis mid week
Things I will be paying attention to this week:
Previous thread for this coming week!
Please criticize me, tell me I'm dumb, tell me your plans, what you disagree with, what you'd like to add, and etc. In the end I will trade the way I choose, but maybe you pointing something out will cast enough doubt for me to question something, and make even better decisions.
submitted by aquaforex to Forex [link] [comments]

Quick MT4 brokers question, don't upvote

I'm a former Alpari UK customer, looking for a new MT4 broker. I've tried a few practice accounts to see what instruments they offer and Forex Broker Inc seems good.
Can anyone here vouch for them? They seem to be one of the highest rated brokers on FX Empire. Or indeed let me know of any other MT4 broker that you'd recommend.
I didn't lose anything on the EURCHF mess, thank goodness. I code my own EAs and I know what I'm doing with risk. Just waiting to get my funds back from KPMG.
submitted by topspeedj to Forex [link] [comments]

Setups This Week (29th May - 2nd June)

Hey all, I'm back for another week so let's dive right into it!
Recap from last week
1) GBPUSD: The prediction regarding this pair's consolidation area seems to have been spot-on as we can see the price has moved and adhered to the area between 1.286 and 1.297 quite religiously. There was a brief fake-out that may have netted you a few pips (if you had a good trailing stop), but overall the price has opted to go for the "lower play" and has proceeded to hit the outlined target perfectly for just over 100 pips. I expect the price to rebound back to the consolidation area to retest the "upper play". Graph
2) EURCHF: The expected breakout has continued quite well, going as far as hitting the first target. As expected, there was a brief pullback to the entry price level but I expect it to continue its climb to Targets 2 and 3 over the next few months. Graph
New Setups
1) EURJPY: What we have here are signs of a potential rising wedge formation on EURJPY due to the higher highs and higher lows being formed since the 18th of May. Fibonacci levels applied on a larger timescale seem to show the price working well between the 0.5 and 0.618 levels - an idea supported by the recent rejection of a new high on the 16th and on the 24th. If the pair adheres to the rising wedge formation, we can assume that it will hit at least 3 different targets: Target 1 is a relatively new S&R level that seems to have formed at the beginning of May, Target 2 is a strong S&R level that stretches back a few months and happens to coincide with the 0.382 fib level of the yellow retracement lines, and finally Target 3 which is the area between the 0.236 fib level and the price where the rising wedge originated from.
In a longer-term view, we can see a double-top forming following a price rejection at 125.82. In keeping with how I usually approach double-top formations, there are two targets: A conservative target that is placed at the neckline and an aggressive target that is equidistant from the neckline. Despite all this analysis, the consensus on the Euro remains bullish . However, now that the French elections are behind us we can position ourselves quite nicely if the Euro ends up cooling off and losing momentum. In the event that it stays bullish and breaks through the 125.82, we have a simpler play worth about 65 pips which should tide us over until things clear up. Rising Wedge Play (Medium Term) Entry:124.965 (Price has already been hit but it is still worth a look) TP: 124.554, 123.813, 123.355 SL:125.643 Double Top Play (Long Term) Entry:124.965 TP: 123.074, 120.704 SL:125.643 Graph
2) USDCHF: I've given this pair another look since my last analysis on USDCHF 0.14% very recently hit its final target. Following that last target, we can now see that the price has been consolidating in the area between the 0.382 and 0.236 levels on the blue fibonacci retracements. From here, the price can push up through the 0.382 level to test the upper level of the channel again. The three targets outlined here are all based on important S&R levels that often coincide quite well with the fibonacci retracements on the larger time intervals.
Conversely, the price may opt to break through the 0.236 level with a goal of testing the lower wall of the descending channel . Again, we can 'safely' assume that it will hit three targets that are also derived from a combination of S&R levels and fib levels. What is interesting about this particular idea is that an "upper play" means that there is a strong potential for the formation of a potential wedge (marked by the red triangle). This would mean that the price already hit the wall of the wedge back on the 22nd of May and that the descending channel would be giving way to a falling wedge - which has implications on the long-term plans for this pair. Upper Play Entry: 0.97827 TP: 0.98142, 0.98534, 0.99039 (area) SL: 0.97549 ; Lower Play Entry: 0.96905 TP: 0.96791(area), 0.96286, 0.95503 SL: 0.97145 Graph
I truly hope you guys enjoy the read! Getting a lot of feedback goes a long way in helping me improve the quality and frequency of the posts!
Previous Weeks:
20th - 24th March
27th - 31st March
2nd - 7th April
17th-21st April
24th - 28th April
8th May - 12th May
I wish it was, but this isn't the gospel so please take the necessary precautions when trading
Have a good week and good luck!
submitted by Invictavis to Forex [link] [comments]

EURCHF - 14 January 2020 - Elliott Wave Forex Trade Setups EURCHF, EURGBP, EU / UK PMI Events - FOREX NEWS calendar, September 4, 2019 EURCHF - 02 July 2020 - Wave Analysis and Forex Trade Setups forex daily analysis EURCHF - AUDCHF - EURAUD - CHFJPY ... Forex Technical Analysis: EUR.CHF Trading FOREX IN EURCAD BUY, EURCHF & GPBJPY SELLS - YouTube How To Trade The NEWS In FOREX - Extra EURCHF Update - YouTube

Forex News. Toggle navigation. Hauptseite; Forexbroker-Vergleich; StereoTrader; Seasonal Trading. Seasonal MT5; Traden lernen; Schlagwort: EURCHF. Black Swan Trading: Wer hat Angst vorm Schwarzen Schwan? 5. März 2020 6. März 2020 Devisenhandel Schreibe einen Kommentar. Die Panik ist da! In der vergangenen Woche sahen wir an den Börsenmärkten heftige Abverkäufe, die in der Vergangenheit ... EUR/CHF Up 8 Pips On Hourly Chart, 2 Day Up Streak Broken; in a Downtrend Over Past 30 Days. Categories Forex News Tags EURCHF. November 9, 2020. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. EURCHF Up 32 Pips On Hourly Chart, 2 Day Up Streak Broken; in a Downtrend Over Past 30 Days ... Find the latest EUR CHF news from around the world. All articles are brought to you by only the best Forex experts and sources. Founded in 2008, ForexLive.com is the premier forex trading news site offering interesting commentary, opinion and analysis for true FX trading professionals. The EUR/AUD pair is the abbreviated term used for the Euro & Swiss franc. the Euro and Swiss franc nicknamed as “Euro-SwissyBefore we get into the particulars, what exactly does the EUR/CHF rate mean? The exchange rate tells you how many Swiss francs (the quote currency) are required to purchase one Euro (base currency). For example, if the pair is trading at 1.14, it means it takes 1.14 CHF ... News zu Forex und Devisen Nutzen Sie diese Kategorie, um sich über die Bewegungen des Devisenmarktes auf dem Laufenden zu halten. Bleiben Sie am Ball, wenn es um die Geschehnisse am Devisenmarkt ... EUR/CHF IG Client Sentiment: Our data shows traders are now net-short EUR/CHF for the first time since Jun 11, 2020 when EUR/CHF traded near 1.07. 2020-11-10 13:23:00 View product details for the EUR/CHF. FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826). EUR CHF (Euro / Swiss Franc) The Euro vs. the Swiss Franc. This pair is known as a pair trend because there are often long upward or downward trends. It is also often adapted to Swing Trading but because of its lack of volatility it is less popular with scalpers. The EUR/CHF and the USD/SHF exchange rates are highly positively correlated. Get the latest market information on EUR/CHF. Follow the live EUR/CHF chart and read the latest news, forecast and analysis on the Euro - Swiss Franc pair.

[index] [26350] [18146] [23215] [14582] [8364] [2100] [17197] [28340] [983] [19789]

EURCHF - 14 January 2020 - Elliott Wave Forex Trade Setups

forex analysis today EUR/CHF - AUD/CHF - EUR/AUD - CHF/JPY technical analysis In this video, you will learn how to trade the news, so how to approach a high impact news release depending on your different exposure. I will also show you... How to trade Forex: Euro vs. Swiss Franc Enter code: FXG20 for 20% off your first month at www.forexgentleman.com Visit www.forexgentleman.com to join for fr... EURGBP - pound supported , bears rejected 0,9150 and targeting 0,90 and 0,8950 EURAUD - we are testing important support here around 1,6200/6180 and bulls are trying to defend that zone but pre ... Today, we have a new trade setup along with the hotlist updates. Join me in the Trading Group: ☻ https://www.patreon.com/WaveAnalysis/ Visit my webpage to se... Today, we have 1 new trade setup along with the hotlist updates. Join me in the Trading Group: ☻ https://www.patreon.com/WaveAnalysis/ Visit my webpage to se... HUGOSWAY'S link to sign up https://hugosway.com/?refid=13277 FOREX patterns https://www.forexfactory.com/thread/452780-price-action-made-simple-with-supply-a...

http://binary-optiontrade.edvertavesbe.gq