Forex Brokers List & Websites DailyForex.com

P2P Bitcoin Derivative Trading Through the Blockchain: Equities, Bonds, Forex & Commodities

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Bitcoin mentioned around Reddit: List of Forex Brokers Accepting Bitcoin – For US clients, Canadian clients and are Non ESMA. /r/Forex

Bitcoin mentioned around Reddit: List of Forex Brokers Accepting Bitcoin – For US clients, Canadian clients and are Non ESMA. /Forex submitted by SimilarAdvantage to BitcoinAll [link] [comments]

Bitcoin mentioned around Reddit: List of Forex Brokers Accepting Bitcoin – For US clients, Canadian clients and are Non ESMA. /r/Forex

Bitcoin mentioned around Reddit: List of Forex Brokers Accepting Bitcoin – For US clients, Canadian clients and are Non ESMA. /Forex submitted by SimilarAdvantage to BitcoinAll [link] [comments]

Here is the appropriate link to the subbreddit- List of Forex Brokers Accepting Bitcoin – For US clients, Canadian clients and are Non ESMA.

Here is the appropriate link to the subbreddit- List of Forex Brokers Accepting Bitcoin – For US clients, Canadian clients and are Non ESMA. submitted by PetersonPaul7 to CryptoForexBrokers [link] [comments]

List of Forex Brokers Accepting Bitcoin – For US clients, Canadian clients and are Non ESMA. • r/Forex

List of Forex Brokers Accepting Bitcoin – For US clients, Canadian clients and are Non ESMA. • Forex submitted by FamousCode to u/FamousCode [link] [comments]

Resource: List of Forex Brokers

submitted by cryptocoinsmania to learntrading [link] [comments]

A list of the Best Forex Brokers in Europe

A list of the Best Forex Brokers in Europe submitted by sujal456 to CryptoMarkets [link] [comments]

Importance of Social Trading in Forex Brokerage

Social Trading Platforms has revolutionized the forex market to a great extent. It has been proven to be quite beneficial for new traders to learn new skills, strategies, and tactics for forex world in a short duration of time. But the question arises, “How are social trading platforms benefiting the forex brokers?”
If you are one of the forex brokers who already know some good strategies to earn good money in forex market, social trading platform might seem non-beneficial for you. But that is not true. A social trading platform is a strong tool from which forex brokers can highly benefit from.
Social Trading platform is a place where there is low risk of losing money in a forex market and therefore, new traders do not hesitate participating in forex market via these platforms. Participation of these new traders opens up a wide range of clients that brokers can acquire by having conversations, building trusts and gaining reliability from new traders. The lifetime of an average trader on social trading platforms are 14% higher than the ones who are not.
People follow experienced brokers on these social trading platforms. By making a good image and building a good relationship with your followers, you can actually retain all the followers. The new traders will build a trust in you and will be comfortable with your brokerage instead of going to a very new broker again.
Social trading platforms connects traders from almost all regions of the world. This can be the biggest platform to make more number of clientele. It will increase your trading activity by more than 50%. One of the reason behind this is traders can be from different time zones and will be active even in your downtime. Another reason for increased trading activity is whenever a broker opens a position, every new trader copying will also open the same position at the same time. When profiting by traders, these traders spend more time on these platforms which eventually increases trading activity and retention.
The attrition rates of social trading platforms are thus very low and it helps in boosting the retention of the traders. As a broker gets more and more followers, they tend to become a big community, attracting more new traders. The cycle thus grows and a forex broker can highly benefit from such social trading platforms, acquiring more and more traders every day.
Here is a list of forex brokers who are earning a big time using social trading platform as a tool.
  1. Jeroen Dekker with a gain percentage of 123.20% and 1905 Copiers.
  2. Fabian Gerspacher with a gain percentage of 47.08% and 1490 Copiers.
  3. Sergejs Kovalonoks with a gain percentage of 41.28% and 1631 Copiers.
There are more like them such as: LaserWinner on Zulu platform who has drawdown about 3 times than the average gains of other traders who do not use social trading platform opening 12 trades at the same time.
The average pip gains on these social trading platforms are at least 11-12 per trade. A broker named as TrendingFund have made over $15000 profit for their live followers. There are various such brokers (Janhne, 4exPirate, Jaynemenis, EdleMetalle, Luck Pound, Berrau, SyConNET, Liam Davies) who are making limitless profit from such social trading platforms.
The fond of social trading platforms are growing more and more in countries like Sydney, Tokyo, Hong-Kong, Bahrain, Zurich, London, Chicago, New York, San Francisco, Los Angeles, and many European and Asian countries as well. It has become the largest financial market in the world and registered a turnaround of more than 1600 billion dollars more and more traders are signing up on these social trading platforms to make a good trade and earn money. As the number of these new traders grows, the opportunities of high-end brokers to make a good client list grows.
How to become a Broker that other’s follow? Make a good record: Do not expect that as soon as you join a trading platform, people will start to follow you. People rely on your track record. So in early stages build a good track record which will encourage others to follow you.
Make sure you followers are also making good money: As soon as your followers will start making profits, it will encourage other traders to follow you. Real money speaks for itself.
Make a clear trading strategy and the same goes with your profile: The better your profile is, the reliable you look to the other traders.
Do not rely on automated systems completely: People rely on brokers who keep on making manual interventions with the change in market.
Set stop levels to manage risk: If you don’t keep a stop level, it will mean unlimited risk for your followers.
Keep check on your draw-down: It acts as a negative quotient for a broker’s account.
Keep a check on your winning percentage: Anything above 85% will portray that you carry a high draw-down risk because it will look like you were holding on to a losing position until it eventually turned positive again.
Communicate with your followers frequently: Keep them updated about your strategy and market. This habit will give your followers a sense that you analyze the market closely and hence you will react and adjust to market change effectively and much sooner.
Followers and traders look closely on how you react and behaved in a bad run: Keeping calm and sticking to your tried and tested principals could be your mantras. Do not start chasing your losses. It creates a bad impression on you followers and other traders.
Keep a track of your risks and traders and gradually you will build a remarkable network with immense profit. Internet in booming these days and so are these social trading platforms. Using these platforms can turn into your best decisions and one of your major income tool.
Reference Link - https://bit.ly/2rE9lli Visit www.simple2trade.com for more information.
submitted by Simple2Trade to u/Simple2Trade [link] [comments]

Good List of Brokers

Hi Forex!
Longtime lurker and I am trying to compile a good list of forex brokers broken down by country if possible. Any insight or help is greatly appreciated.
submitted by Systane to Forex [link] [comments]

Finding the Best Forex Broker From a List of Brokers

Finding the Best Forex Broker From a List of Brokers submitted by Rufflenator to 3bitcoins [link] [comments]

Finding the Best Forex Broker From a List of Brokers

Finding the Best Forex Broker From a List of Brokers submitted by ososru to Bitcoin4free [link] [comments]

List of Top 10 Forex Brokers 2019

Forex has become a giant market in which people come not only to market their currency but also to make this a lifestyle and a business.
Here is my Top 10 Forex Brokers 2019
submitted by Sjoshi76 to u/Sjoshi76 [link] [comments]

Live free or die! Try something new! This here is a list of new promising forex brokers. Almost all of them have demo trading accounts and good forex bonus. Register for demo or live account!

Live free or die! Try something new! This here is a list of new promising forex brokers. Almost all of them have demo trading accounts and good forex bonus. Register for demo or live account! submitted by FX_Winner to Forex [link] [comments]

List of Over 200 Online Forex Brokers

submitted by black_agent to it [link] [comments]

Great, original reviews of the world's best Forex brokers, with a list of top 5 platforms, plus several honorable mentions.

submitted by cheomsky78 to Forex [link] [comments]

US Forex broker | The list of online US Forex brokers

US Forex broker | The list of online US Forex brokers submitted by watanuki17 to Forex [link] [comments]

APIs offered by brokers and data platforms

I’ve been looking for a broker that has an API for index futures and ideally also futures options. I’m looking to use the API to build a customized view of my risk based on balances, positions, and market conditions.
Searching the algotrading sub I found many API-related posts, but then when I actually read them and their comments, I found they’re often lacking in real substance. It turns out many brokers or data services that have APIs don’t actually support index futures and options via the API, and instead they focus on equities, forex, or cypto. So here’s the list of what I’ve found so far. This isn’t a review of these brokers or APIs and note that I have a specific application in mind (index futures and futures options). Perhaps you’re looking for an API for equities, or you just want data and not a broker, in which case there may be a few options. Also, I’m based in the US so I didn’t really look for brokers or platforms outside the US.
If you have experience with these APIs, please chime in with your thoughts. Also, I may have missed some brokers or platforms. If I did or if you see anything that needs correction please let me know.

Platform Notes
ADM Investor Services No API
Ally Invest Does not support futures instruments
Alpaca Only supports US Equities
Alpha Vantage Does not support futures instruments
AMP Broker with a huge number of platforms available including some with APIs
ApexFutures No API
Arcade Trader No API
AvaTrade Does not support futures instruments
Backtrader Not a data feed; otherwise looks cool but also looks like a one-man shop
Cannon Trading Broker with a variety of platforms, some have API access such as TT
Centerpoint No API
Charles Schwab API does not support futures instruments
Cobra No API
Daniels Trading No API
Discount Trading Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
Edge Clear Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
Eroom Now part of Dashprime. Offer a variety of APIs including CQG, TT, CBOE's Silexx, and others via FIX.
ETNA Trader Only supports equities, options (including multi-legs), ETFs, Mutual Funds (Forex with cryptocurrencies coming soon)
ETrade API seems robust but OAuth authorization needs to be refreshed via login once per 24 hours
Futures Online No API
Gain Capital Futures API available, based on .NET; unsure if they are open to retail clients
GFF Brokers Broker with a large number of platforms including some with API access
High Ridge Futures Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
iBroker API available; contact them for more info
IEX Cloud Looks great but does not support futures instruments
Infinity Futures JSON API available; contact them for more info
Interactive Brokers Client Web API looks promising if clunky
Intrinio Supports futures instruments but is expensive
Koyfin No API
Lightspeed C++ API available
marketstack API for equities available. Does not support futures instruments.
Medved Trader Windows app with a streaming API to various data sources and brokers. See comment below about API beta access.
NinjaTrader Does not support futures options
Norgate Data Not a broker; supports futures data for $270/year
Oanda Forex only; API last updated in 2018
Optimus Futures Broker with a large number of available platforms including some with API access
Phillip Capital Broker with a large number of available platforms including some with API access
polygon.io Expensive but looks slick; does not support futures instruments
Quandl API looks solid; $49/monthly for personal use, does not allow distributing or sharing data; not a broker
Quantconnect Does not expose raw data
Quantopian Does not expose raw data
Quantower Software that connects to multiple brokers and data feeds; API to their software via C# interface
Saxo Markets Broker with extensively documented API
Stage 5 Trading API available through Trading Technologies
Straits Financial Broker with several platforms available including some with APIs such as CQG, R
Sweet Futures Broker with a large number of available platforms including some with API access
TastyWorks There's an unofficial Python API
TenQuant.io Does not support futures instruments
ThinkorSwim Does not support futures instruments via the API
Tiingo Free account tier but does not support futures instruments
TradePro Broker with a number of platforms available; unclear if any are available with API access
Tradier Free developer API account for delayed data but does not support futures instruments
TradeStation Nice looking API docs and supports futures instruments; requires opening an account and a minimum balance of $100k and there’s no trial available
TradeFutures4Less Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
TradingTechnologies API looks robust; pricing starts at $700/month
TradingView Does not expose data API
Tradovate Technologies API exists, documentation unknown; need to talk to their account team
Wedbush Futures Broker with several platforms offered, a few of which have API access
WEX .NET/COM only; pricing not disclosed on website
Xignite Pricing not disclosed on website but they do support futures instruments
Yahoo Finance API Available through RapidAPI or via direct access; but it’s discontinued and unreliable
Zaner Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs

Wow, this list grew longer than I originally thought it would be. If you spot a mistake, please let me know and I’ll correct it.
Edit:
- added Lightspeed API - updated Dashprime to indicate some of the APIs available - added Medved Trader to table - added marketstack to table
submitted by theloniusmunch to thewallstreet [link] [comments]

Forex Trading in Kenya.

Someone posted on here a few days ago asking about forex and forex trading in Kenya, I have gone through the responses and clearly, most people don’t have an idea. It is 3am in the morning and am in a good mood so let me make this post. This will be a comprehensive and lengthy post so grab a pen and paper and sit down. We’ll be here a while.
FIRST OF ALL, who am I..?
I am a forex trader, in Nairobi, Kenya..i have been actively involved in forex since I found out about it in Feb 2016 when I somehow ended up in a wealth creation seminar (lol) in pride inn Westlands, the one close to Mpaka Rd. Luckily for me, it was not one of those AIM global meetings or I’d be on Facebook selling God knows what those guys sell. I did not take it seriously till August of the same year and I have been active ever since.
I don’t teach, mentor or sell a course or signals, I trade my own money. I am also posting from a throwaway account because I don’t want KRA on my ass.
What the fuck is forex and forex trading.
In simple plain English, forex is like the stock market but for currencies. Stock Market = Shares, forex = currencies. If you want more in-depth explanation, google is your friend.
These currencies are pegged on specific countries, united states- dollar, UK- pound, euro zone- euro, Switzerland- Swiss franc, Kenya- Kenya shilling.. you get the point. Now, there are specific events and happenings between these economies that affect the movement and values of the currencies, driving their value (purchasing power up and down). Forex trading exploits these movements to make money. When the value is going up, we buy and vice versa (down –sell)
Is forex trading illegal in Kenya? Is it a scam?
Illegal, no. scam, no. All the banks in the world do it (KCB made about 4 billion from trading forex in 2019)
Have there been scams involving forex in Kenya?
Yes. Here is one that happened recently. This one is the most infamous one yet. Best believe that this is not the end of these type of scams because the stupidity, greed and gullibility of human beings is unfathomable.
However, by the end of this post, I hope you won’t fall for such silliness.
What next how do I make it work..?
Am glad you asked. Generally, there are two ways to go about it. One, you teach yourself. This is the equivalent of stealing our dad’s car and hoping that the pedal you hit is the brake and not the accelerator. It is the route I took, it is the most rewarding and a huge ego boost when you finally make it on your own. Typically, this involves scouring the internet for hours upon hours going down rabbit holes, thinking you have made it telling all your friends how you will be a millionaire then losing all your money. Some people do not have the stomach for that.
The second route is more practical, structured and smarter.
First Learn the basics. There is a free online forex course at www.babypips.com/learn/forex this is merely an introductory course. Basically it is learning the parts of a car before they let you inside the car.
Second, start building your strategy. By the time you are done with the babypips, you will have a feel of what the forex market is, what interests you, etc. Tip..Babypips has a lot of garbage. It is good for introductory purposes but not good for much else, pick whatever stick to you or jumps at you the first time. Nonsense like indicators should be ignored.
The next step is now the most important. Developing the skill and building your strategy. As a beginner, you want to exhaust your naivety before jumping into the more advanced stuff. Eg can you identify a trend, what is a pair, what is position sizing, what is metatrader 4 and how to operate it, what news is good for a currency, when can I trade, what are the different trading sessions, what is technical analysis, what is market sentiment, what are bullish conditions what is emotion management, how does my psychology affect my trading (more on this later) an I a swing, scalper or day trader etc
Mentors and forex courses.. you have probably seen people advertising how they can teach and mentor you on how to trade forex and charging so much money for it. Somehow it seems that these people are focused on the teaching than the trading. Weird, right..? Truth is trading is hard, teaching not quite. A common saying in the industry is “Those who can’t trade, teach” you want to avoid all these gurus on Facebook and Instagram, some are legit but most are not. Sifting the wheat from the chaff is hard but I did that for you. The info is available online on YouTube, telegram channels etc. am not saying not to spend money on a course, if you find a mentor whose style resonates with you and the course is reasonably priced, please, go ahead and buy..it will cut your learning curve in half. People are different. What worked for me might not work for you.
Here are some nice YouTube channels to watch. These guys are legit..
  1. Sam sieden
  2. Cuebanks
  3. TheCoinFx
  4. The trading channel
  5. Astro
  6. Forex family
  7. Wicksdontlie
Advanced stuff
  1. ICT
After a short period of time, you will be able to sniff out bs teachers with relative ease. You will also discover some of your own and expand the list. Two tips, start with the oldest videos first and whichever of these resonates with you, stick with till the wheels fall off.
How long will it take until things start making sense
Give yourself time to grow and learn. This is all new to you and you are allowed to make mistakes, to fail and discover yourself. Realistically, depending on the effort you put in, you will not start seeing results until after 6 months. Could take longeshorter so there is no guarantee.
Social media, Mentality, Psychology and Books
Online, forex trading might not have the best reputation online because it takes hard work and scammers and gurus give it a bad name. However, try to not get sucked into the Instagram trader lifestyle as it is nowhere close to what the reality is. You will not make millions tomorrow or the day after, you might never even make it in this market. But that is the reality of life. Nothing is promised, nothing is guaranteed.
Your mentality, beliefs and ego will be challenged in this market. You will learn things that will make you blood boil, you will ask yourself daily, how is this possible, why don’t they teach this in school..bla bla bla..it will be hard but growth is painful, if it wasn’t we’d all be billionaires. Take a break, take a walk, drink a glass of whatever you like or roll one..detox. Chill with your girl (or man) Gradually you will develop mental toughness that will set you up for life. Personally, I sorta ditched religion and picked up stoicism. Whatever works for you.
Psychology, this is unfortunately one of the most neglected aspects of your personal development in this journey. Do you believe in yourself? Can you stand by your convictions when everyone is against you? Can you get up every day uncertain of the future? There will be moments where you will question yourself, am I even doing the right thing? the right way? It is normal and essential for your growth. People who played competitive sports have a natural advantage here. Remember the game is first won in your head then on the pitch.
Books: ironically, books that helped me the most were the mindset books, Think and grow rich, trading for a living, 4 hour work week, the monk who sold his Ferrari..just google mindset and psychology books, most trading books are garbage. Watch and listen to people who have made it in the investing business. Ray Dalio, warren, Bill Ackman and Carl Icahn.
This is turning out to be lengthier than I anticipated so I’ll try to be brief for the remaining parts.
Brokers
You will need to open up an account with a broker. Get a broker who is regulated. Australian ones (IC Market and Pepperstone) are both legit, reliable and regulated. Do your research. I’d avoid local ones because I’ve heard stories of wide spreads and liquidity problems. International brokers have never failed me. There are plenty brokers, there is no one size fits all recommendation. If it ain’t broke..don’t fix it.
Money transfer.
All brokers accept wire transfers, you might need to call your bank to authorize that, avoid Equity bank. Stanchart and Stanbic are alright. Large withdrawals $10k+ you will have to call them prior. Get Skrill and Neteller if you don’t like banks like me, set up a Bitcoin wallet for faster withdrawals, (Payoneer and Paypal are accepted by some brokers, just check with them.)
How much money can I make..?
I hate this question because people have perceived ceilings of income in their minds, eg 1 million ksh is too much to make per month or 10,000ksh is too little. Instead, work backwards. What % return did I make this month/ on this trade. Safaricom made 19.5% last year, if you make 20% you have outperformed them. If you reach of consistency where you can make x% per month on whatever money you have, then there are no limits to how much you can make.
How much money do I need to start with..?
Zero. You have all the resources above, go forth. There are brokers who provide free bonuses and withdraw-able profits. However, to make a fulltime income you will need some serious cash. Generally, 50,000 kes. You can start lower or higher but if you need say 20k to live comfortably and that is a 10% return per month, then you can do the math on how big your account should be. Of course things like compound interest come into play but that is dependent on your skill level. I have seen people do spectacular things with very little funds.
Taxes..?
Talk to a lawyer or an accountant. I am neither.
Family? Friends?
Unfortunately, people will not understand why you spend hundreds of hours watching strangers on the internet so it is best to keep it from them. Eventually you will make it work and they will come to your corner talking about how they always knew you’d make it.
The journey will be lonely, make some trading buddies along the way. You’d be surprised at how easy it is when people are united by their circumstances (and stupidity) I have guys who are my bros from South Africa and Lebanon who I have never met but we came up together and are now homies. Join forums, ask questions and grow. That is the only way to learn. Ideally, a group of 5-10 friends committed to learning and growth is the best model. Pushing each other to grow and discovering together.
Forex is real and you can do amazing things with it. It is not a get rich quick scheme. If you want a quick guaranteed income, get a job.
And now it is 5am, fuck.
This is oversimplified and leaves out many many aspects.
Happy to answer any questions.
submitted by ChaliFlaniwaNairobi to Kenya [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]

H1 Backtest of ParallaxFX's BBStoch system

Disclaimer: None of this is financial advice. I have no idea what I'm doing. Please do your own research or you will certainly lose money. I'm not a statistician, data scientist, well-seasoned trader, or anything else that would qualify me to make statements such as the below with any weight behind them. Take them for the incoherent ramblings that they are.
TL;DR at the bottom for those not interested in the details.
This is a bit of a novel, sorry about that. It was mostly for getting my own thoughts organized, but if even one person reads the whole thing I will feel incredibly accomplished.

Background

For those of you not familiar, please see the various threads on this trading system here. I can't take credit for this system, all glory goes to ParallaxFX!
I wanted to see how effective this system was at H1 for a couple of reasons: 1) My current broker is TD Ameritrade - their Forex minimum is a mini lot, and I don't feel comfortable enough yet with the risk to trade mini lots on the higher timeframes(i.e. wider pip swings) that ParallaxFX's system uses, so I wanted to see if I could scale it down. 2) I'm fairly impatient, so I don't like to wait days and days with my capital tied up just to see if a trade is going to win or lose.
This does mean it requires more active attention since you are checking for setups once an hour instead of once a day or every 4-6 hours, but the upside is that you trade more often this way so you end up winning or losing faster and moving onto the next trade. Spread does eat more of the trade this way, but I'll cover this in my data below - it ends up not being a problem.
I looked at data from 6/11 to 7/3 on all pairs with a reasonable spread(pairs listed at bottom above the TL;DR). So this represents about 3-4 weeks' worth of trading. I used mark(mid) price charts. Spreadsheet link is below for anyone that's interested.

System Details

I'm pretty much using ParallaxFX's system textbook, but since there are a few options in his writeups, I'll include all the discretionary points here:

And now for the fun. Results!

As you can see, a higher target ended up with higher profit despite a much lower winrate. This is partially just how things work out with profit targets in general, but there's an additional point to consider in our case: the spread. Since we are trading on a lower timeframe, there is less overall price movement and thus the spread takes up a much larger percentage of the trade than it would if you were trading H4, Daily or Weekly charts. You can see exactly how much it accounts for each trade in my spreadsheet if you're interested. TDA does not have the best spreads, so you could probably improve these results with another broker.
EDIT: I grabbed typical spreads from other brokers, and turns out while TDA is pretty competitive on majors, their minors/crosses are awful! IG beats them by 20-40% and Oanda beats them 30-60%! Using IG spreads for calculations increased profits considerably (another 5% on top) and Oanda spreads increased profits massively (another 15%!). Definitely going to be considering another broker than TDA for this strategy. Plus that'll allow me to trade micro-lots, so I can be more granular(and thus accurate) with my position sizing and compounding.

A Note on Spread

As you can see in the data, there were scenarios where the spread was 80% of the overall size of the trade(the size of the confirmation candle that you draw your fibonacci retracements over), which would obviously cut heavily into your profits.
Removing any trades where the spread is more than 50% of the trade width improved profits slightly without removing many trades, but this is almost certainly just coincidence on a small sample size. Going below 40% and even down to 30% starts to cut out a lot of trades for the less-common pairs, but doesn't actually change overall profits at all(~1% either way).
However, digging all the way down to 25% starts to really make some movement. Profit at the -161.8% TP level jumps up to 37.94% if you filter out anything with a spread that is more than 25% of the trade width! And this even keeps the sample size fairly large at 187 total trades.
You can get your profits all the way up to 48.43% at the -161.8% TP level if you filter all the way down to only trades where spread is less than 15% of the trade width, however your sample size gets much smaller at that point(108 trades) so I'm not sure I would trust that as being accurate in the long term.
Overall based on this data, I'm going to only take trades where the spread is less than 25% of the trade width. This may bias my trades more towards the majors, which would mean a lot more correlated trades as well(more on correlation below), but I think it is a reasonable precaution regardless.

Time of Day

Time of day had an interesting effect on trades. In a totally predictable fashion, a vast majority of setups occurred during the London and New York sessions: 5am-12pm Eastern. However, there was one outlier where there were many setups on the 11PM bar - and the winrate was about the same as the big hours in the London session. No idea why this hour in particular - anyone have any insight? That's smack in the middle of the Tokyo/Sydney overlap, not at the open or close of either.
On many of the hour slices I have a feeling I'm just dealing with small number statistics here since I didn't have a lot of data when breaking it down by individual hours. But here it is anyway - for all TP levels, these three things showed up(all in Eastern time):
I don't have any reason to think these timeframes would maintain this behavior over the long term. They're almost certainly meaningless. EDIT: When you de-dup highly correlated trades, the number of trades in these timeframes really drops, so from this data there is no reason to think these timeframes would be any different than any others in terms of winrate.
That being said, these time frames work out for me pretty well because I typically sleep 12am-7am Eastern time. So I automatically avoid the 5am-6am timeframe, and I'm awake for the majority of this system's setups.

Moving stops up to breakeven

This section goes against everything I know and have ever heard about trade management. Please someone find something wrong with my data. I'd love for someone to check my formulas, but I realize that's a pretty insane time commitment to ask of a bunch of strangers.
Anyways. What I found was that for these trades moving stops up...basically at all...actually reduced the overall profitability.
One of the data points I collected while charting was where the price retraced back to after hitting a certain milestone. i.e. once the price hit the -61.8% profit level, how far back did it retrace before hitting the -100% profit level(if at all)? And same goes for the -100% profit level - how far back did it retrace before hitting the -161.8% profit level(if at all)?
Well, some complex excel formulas later and here's what the results appear to be. Emphasis on appears because I honestly don't believe it. I must have done something wrong here, but I've gone over it a hundred times and I can't find anything out of place.
Now, you might think exactly what I did when looking at these numbers: oof, the spread killed us there right? Because even when you move your SL to 0%, you still end up paying the spread, so it's not truly "breakeven". And because we are trading on a lower timeframe, the spread can be pretty hefty right?
Well even when I manually modified the data so that the spread wasn't subtracted(i.e. "Breakeven" was truly +/- 0), things don't look a whole lot better, and still way worse than the passive trade management method of leaving your stops in place and letting it run. And that isn't even a realistic scenario because to adjust out the spread you'd have to move your stoploss inside the candle edge by at least the spread amount, meaning it would almost certainly be triggered more often than in the data I collected(which was purely based on the fib levels and mark price). Regardless, here are the numbers for that scenario:
From a literal standpoint, what I see behind this behavior is that 44 of the 69 breakeven trades(65%!) ended up being profitable to -100% after retracing deeply(but not to the original SL level), which greatly helped offset the purely losing trades better than the partial profit taken at -61.8%. And 36 went all the way back to -161.8% after a deep retracement without hitting the original SL. Anyone have any insight into this? Is this a problem with just not enough data? It seems like enough trades that a pattern should emerge, but again I'm no expert.
I also briefly looked at moving stops to other lower levels (78.6%, 61.8%, 50%, 38.2%, 23.6%), but that didn't improve things any. No hard data to share as I only took a quick look - and I still might have done something wrong overall.
The data is there to infer other strategies if anyone would like to dig in deep(more explanation on the spreadsheet below). I didn't do other combinations because the formulas got pretty complicated and I had already answered all the questions I was looking to answer.

2-Candle vs Confirmation Candle Stops

Another interesting point is that the original system has the SL level(for stop entries) just at the outer edge of the 2-candle pattern that makes up the system. Out of pure laziness, I set up my stops just based on the confirmation candle. And as it turns out, that is much a much better way to go about it.
Of the 60 purely losing trades, only 9 of them(15%) would go on to be winners with stops on the 2-candle formation. Certainly not enough to justify the extra loss and/or reduced profits you are exposing yourself to in every single other trade by setting a wider SL.
Oddly, in every single scenario where the wider stop did save the trade, it ended up going all the way to the -161.8% profit level. Still, not nearly worth it.

Correlated Trades

As I've said many times now, I'm really not qualified to be doing an analysis like this. This section in particular.
Looking at shared currency among the pairs traded, 74 of the trades are correlated. Quite a large group, but it makes sense considering the sort of moves we're looking for with this system.
This means you are opening yourself up to more risk if you were to trade on every signal since you are technically trading with the same underlying sentiment on each different pair. For example, GBP/USD and AUD/USD moving together almost certainly means it's due to USD moving both pairs, rather than GBP and AUD both moving the same size and direction coincidentally at the same time. So if you were to trade both signals, you would very likely win or lose both trades - meaning you are actually risking double what you'd normally risk(unless you halve both positions which can be a good option, and is discussed in ParallaxFX's posts and in various other places that go over pair correlation. I won't go into detail about those strategies here).
Interestingly though, 17 of those apparently correlated trades ended up with different wins/losses.
Also, looking only at trades that were correlated, winrate is 83%/70%/55% (for the three TP levels).
Does this give some indication that the same signal on multiple pairs means the signal is stronger? That there's some strong underlying sentiment driving it? Or is it just a matter of too small a sample size? The winrate isn't really much higher than the overall winrates, so that makes me doubt it is statistically significant.
One more funny tidbit: EUCAD netted the lowest overall winrate: 30% to even the -61.8% TP level on 10 trades. Seems like that is just a coincidence and not enough data, but dang that's a sucky losing streak.
EDIT: WOW I spent some time removing correlated trades manually and it changed the results quite a bit. Some thoughts on this below the results. These numbers also include the other "What I will trade" filters. I added a new worksheet to my data to show what I ended up picking.
To do this, I removed correlated trades - typically by choosing those whose spread had a lower % of the trade width since that's objective and something I can see ahead of time. Obviously I'd like to only keep the winning trades, but I won't know that during the trade. This did reduce the overall sample size down to a level that I wouldn't otherwise consider to be big enough, but since the results are generally consistent with the overall dataset, I'm not going to worry about it too much.
I may also use more discretionary methods(support/resistance, quality of indecision/confirmation candles, news/sentiment for the pairs involved, etc) to filter out correlated trades in the future. But as I've said before I'm going for a pretty mechanical system.
This brought the 3 TP levels and even the breakeven strategies much closer together in overall profit. It muted the profit from the high R:R strategies and boosted the profit from the low R:R strategies. This tells me pair correlation was skewing my data quite a bit, so I'm glad I dug in a little deeper. Fortunately my original conclusion to use the -161.8 TP level with static stops is still the winner by a good bit, so it doesn't end up changing my actions.
There were a few times where MANY (6-8) correlated pairs all came up at the same time, so it'd be a crapshoot to an extent. And the data showed this - often then won/lost together, but sometimes they did not. As an arbitrary rule, the more correlations, the more trades I did end up taking(and thus risking). For example if there were 3-5 correlations, I might take the 2 "best" trades given my criteria above. 5+ setups and I might take the best 3 trades, even if the pairs are somewhat correlated.
I have no true data to back this up, but to illustrate using one example: if AUD/JPY, AUD/USD, CAD/JPY, USD/CAD all set up at the same time (as they did, along with a few other pairs on 6/19/20 9:00 AM), can you really say that those are all the same underlying movement? There are correlations between the different correlations, and trying to filter for that seems rough. Although maybe this is a known thing, I'm still pretty green to Forex - someone please enlighten me if so! I might have to look into this more statistically, but it would be pretty complex to analyze quantitatively, so for now I'm going with my gut and just taking a few of the "best" trades out of the handful.
Overall, I'm really glad I went further on this. The boosting of the B/E strategies makes me trust my calculations on those more since they aren't so far from the passive management like they were with the raw data, and that really had me wondering what I did wrong.

What I will trade

Putting all this together, I am going to attempt to trade the following(demo for a bit to make sure I have the hang of it, then for keeps):
Looking at the data for these rules, test results are:
I'll be sure to let everyone know how it goes!

Other Technical Details

Raw Data

Here's the spreadsheet for anyone that'd like it. (EDIT: Updated some of the setups from the last few days that have fully played out now. I also noticed a few typos, but nothing major that would change the overall outcomes. Regardless, I am currently reviewing every trade to ensure they are accurate.UPDATE: Finally all done. Very few corrections, no change to results.)
I have some explanatory notes below to help everyone else understand the spiraled labyrinth of a mind that put the spreadsheet together.

Insanely detailed spreadsheet notes

For you real nerds out there. Here's an explanation of what each column means:

Pairs

  1. AUD/CAD
  2. AUD/CHF
  3. AUD/JPY
  4. AUD/NZD
  5. AUD/USD
  6. CAD/CHF
  7. CAD/JPY
  8. CHF/JPY
  9. EUAUD
  10. EUCAD
  11. EUCHF
  12. EUGBP
  13. EUJPY
  14. EUNZD
  15. EUUSD
  16. GBP/AUD
  17. GBP/CAD
  18. GBP/CHF
  19. GBP/JPY
  20. GBP/NZD
  21. GBP/USD
  22. NZD/CAD
  23. NZD/CHF
  24. NZD/JPY
  25. NZD/USD
  26. USD/CAD
  27. USD/CHF
  28. USD/JPY

TL;DR

Based on the reasonable rules I discovered in this backtest:

Demo Trading Results

Since this post, I started demo trading this system assuming a 5k capital base and risking ~1% per trade. I've added the details to my spreadsheet for anyone interested. The results are pretty similar to the backtest when you consider real-life conditions/timing are a bit different. I missed some trades due to life(work, out of the house, etc), so that brought my total # of trades and thus overall profit down, but the winrate is nearly identical. I also closed a few trades early due to various reasons(not liking the price action, seeing support/resistance emerge, etc).
A quick note is that TD's paper trade system fills at the mid price for both stop and limit orders, so I had to subtract the spread from the raw trade values to get the true profit/loss amount for each trade.
I'm heading out of town next week, then after that it'll be time to take this sucker live!

Live Trading Results

I started live-trading this system on 8/10, and almost immediately had a string of losses much longer than either my backtest or demo period. Murphy's law huh? Anyways, that has me spooked so I'm doing a longer backtest before I start risking more real money. It's going to take me a little while due to the volume of trades, but I'll likely make a new post once I feel comfortable with that and start live trading again.
submitted by ForexBorex to Forex [link] [comments]

[META] Recent scam/spam trends.. Or, a peak inside what it's like to moderate /r/forex

After a few...especially trying...interactions with unhappy ban recipients today, I thought it would be fun to share a little info on what moderators do to keep this place clean. :)
The forex industry is full of shady characters. Any industry sitting on the intersection of financial independence, work, and money, is bound to attract them. There are many reasons for this; the lower barrier to entry compared to other markets, the lack of public knowledge on the subject, and greedy human nature to name a few.
Moderating a subreddit dedicated to forex (or anything trading realted for that matter,) presents extra challenges beyond your regular sub. Marketers and scammers are super motivated, and MLM / referral marketing is extremely popular right now, which can turn everyday regular users into sources of spam.
How we currently tackle this problem involves technology (scripts, bots, and automod,) a mod review workflow, and some smart sleuthing when needed.
The mod team and our scripts aren't perfect though... but the few false positives we get are a very, very small fraction of all mod actions taken (~1%.) Unfortunately, that means some otherwise sincere members get handled roughly, and that can really suck.. I wish there was a better way, but the alternative is this place becomes a wild west and starts looking like your gmail spam folder.
That said, here's my personal stats for JUST the last 24 hours:
And I'm just one of the mods. . .
So what scammer and marketing trends are we seeing lately?
Honestly, it can be really frustrating at times.. luckily the scripts we have in place make weeding out ~80% of these jokers quite easy and quick. Heck, we had one scammer who blew through 12+ accounts over the last few days trying to scam people but none of their posts ever saw the light of day thanks to the spam triggers I've written.
What motivates the mod team to keep this place clean? That's an easy answer: The majority of users here are new to trading. Making sure they aren't food for the wolves is important.
But even with all the measures we take, some bad actors still get through.
So here's where you can help: Use the report button! Anytime you see something that you think fits the descriptions listed above, or violates our sidebar rules, just report it. Even if you're not 100% sure, don't be afraid to use the report tool.. The worst thing that can happen is the mod team reviews and approves it, but the best outcome is you directly help keep this place clean and humming! :)
And the mod team is always looking to improve where it can: I've already talked about what we do to scrub away bad actors, but one place we could do better is education. The plan is to rewrite a good portion of the wiki to include the following sections:
(Titles above are a work in progress ;P)
Are you a good writer and want to help out with this? Think you can write up a killer wiki article on spotting scam artists? Message the mods and let us know!
Finally, a reminder, we are still interested in taking on more moderators and will be revisiting that very shortly. If you'd be interested, read through this post and reply accordingly: https://www.reddit.com/Forex/comments/h7ok6k/seeking_more_mods_recruitment_thread/
submitted by finance_student to Forex [link] [comments]

How much money would it cost to setup high-frequency trading?

I worked with many HFT startups and I have a pretty good idea of the initial costs that such trading shops have.
Data: High-frequency strategies are data-intensive, so you need to get the best data providers at the tick level (level 3). That’s expensive. Depending on the market you are in (forex, futures, bonds, etc) the cost could vary. FX is even more complex, because of its highly fragmented nature, so they will need to have a broad view of all of them. Each provider cost could start from $5k per month each, up to $50k per month
Servers: You will need power. A decent server (please don’t use the cloud), could cost you 20k at least. It needs to have 32-cores at least. You can rent a dedicated server, and its cost could start from $2k per month
Collocation: That powerful server must be placed inside a collocated environment. The idea is to reduce the latency as much as you can, so being close to the exchanges/venues is the best choice. These data centers will charge you for your server space and for the connectivity you use (cross-connection). This varies considerably depending on the markets you are in.
Software: this would be the most expensive piece of your setup. Remember, that the software is the brain of your operation. Not only needs to get ALL the data from the exchanges/venues but normalize it, store it, manipulate it, and prepare it to be consumed by your strategies(s) that will be doing tons of different calculations based on the data they receive. And all that must be done in a fraction of milliseconds (hopefully within 10–50 microseconds)
On top of that, you must be sure, that you will have all the different modules in place: price aggregators, order management systems (OMS), execution management systems (EMS), smart order routing (SOR), liquidity manager (LM), risk management systems (RMS). and any interface you may need (to databases, storage, monitoring systems, reporting, etc)
Cost-wise, all of this will depends on what you choose. If you go with an off-the-shelf solution (not recommended, cheaper, you don’t own anything, slow), or you start your own development (time to market +1 year, very costly). The cost could vary between $300K to $1M
People: you will need human resources. This is not a one-guy operation. You will need to have software engineers, quantitative analysts, and researchers. Think about 150k /year at the low end.
Brokers/Prime Brokers: you will need to open up a brokerage account to have access to the trading venues. They will require you to have a minimum capital to trade (besides the commissions/fees they may charge). So, that adds up to your initial setup cost.
Conclusions
It’s a very lucrative business but is hard to get started. Usually, startups try to start small and grow as they see profits, but that always falls into failure. If you do that, you will fail to have all the above points I’ve listed.
Your initial investment is high, and keeping in mind that after having all these startup costs, all your infrastructure in place, and the software ready to run, your first profitable trades could start to come in after 6 to 12 months of operations.
I hope my question is not as vague as the others…
Please, let me know if I was missing something else, so we can add it to this list 😎

Ariel Silahian
http://www.sisSoftwareFactory.com/blog
submitted by silahian to quant_hft [link] [comments]

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