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Forex Trading in Bolivia • Forex Strategy • Benzinga

The forex market has been growing at a rapid pace in Bolivia, where increased currency stability, free-floating government regulations and an expanded internet infrastructure has made it easier to trade. If you’ve ever wanted to trade forex in Bolivia, our comprehensive guide will show you how to get started, open a brokerage account and formulate…

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The forex market has been growing at a rapid pace in Bolivia, where increased currency stability, free-floating government regulations and an expanded internet infrastructure has made it easier to trade. If you’ve ever wanted to trade forex in Bolivia, our comprehensive guide will show you how to get started, open a brokerage account and formulate your own unique trading strategy.   

Get Started with Forex in Bolivia

Getting started with forex trading begins with opening a brokerage account. You can open a brokerage account on nearly any device that connects to the internet, including:

  • Desktop computers
  • Mobile phones
  • Tablets
  • Laptops

Before you begin the process of opening an account, check and make sure that your internet connection is secure and private. You may also want to run a speed test on your device.

There are many international and local brokers offering forex trading capabilities to investors in Bolivia. When you compare brokers, be sure to consider the following characteristics:

  • Currencies the broker offers access to
  • Territories the broker services
  • Local and international licensure and regulation status
  • Account minimums
  • Fees and other transaction expenses

When you find a broker that you want to work with, create an account using that broker’s process. You may also need to download a 3rd-party trading platform like MetaTrader 4 or 5 before you can trade.

After your account has been opened in full, choose how you’d like to deposit trading funds. Most brokers in Bolivia allow you to fund your account using a number of methods, including:

  • Direct bank transfers
  • Transfers from electronic wallets like PayPal or Skrill
  • Deposits from a debit or credit card

It might take a few days for your deposit to show in your account. When your deposit clears, you can officially trade forex by placing your first order through your broker. 

Bolivia Forex Trading Strategies

Thanks to a high level of volatility, most forex traders in Bolivia use a technical analysis strategy to profit from their trades. Technical analysis is a type of currency examination that uses past charting patterns and indicators to predict how the price of the currency will move in the future. There are a wide range of technical analysis strategies used throughout the world. Let’s take a look at a few examples to help you get started. 

Head and Shoulders

The head and shoulders pattern is 1 of the most commonly used technical analysis formations. The head and shoulders pattern first establishes a baseline, with 2 minor peaks positioned in between a major peak. This pattern gets its name from its shape, which resembles a head and a pair of shoulders. The head and shoulders pattern is a bearish indicator and typically represents a sell signal. 

Reversal Candlesticks

Traders who rely on short-term price movements often use reversal candlesticks to determine when they should buy or sell a currency. A reversal candlestick is an indicator that signifies that a currency’s price trend direction will change soon. A reversal candlestick can be bullish or bearish depending on its position. There are a wide range of reversal candlesticks, and the strength of each candlestick is typically determined by its tail length.  

Forex Trading Example in Bolivia 

How can you earn money trading forex? Let’s take a look at an example of how differences in currency values can be profitable for you.

Imagine that you fund your account with Bs10,000. Your broker offers you 10:1 leverage, which means that you can place trades worth up to Bs100,000. You believe that the value of the USD will rise in relation to the BOB, so you use your entire lot and leverage to buy dollars. $1 is currently equal to 6.89 BOB — converting Bs100,000 leaves you with about $14,513.79.

Soon, you see that the value of the BOB is falling in comparison to the U.S. dollar. When $1 is equal to 6.93 BOB, you decide to cash out. You convert your entire lot of dollars back to BOB and receive Bs100,580.55 in the trade. This means that, after accounting for leverage and your initial deposit, you’ve earned a profit of about Bs580.55.

Making Money with Forex in Bolivia 

Though the realm of forex trading is still gaining traction in Bolivia, residents and travelers in Bolivia are free to exchange currencies as they wish. There are no limitations on the amount of money that you can deposit into an international brokerage account. You don’t need any type of special permissions from the Central Bank of Bolivia before you begin.

This freedom to trade combined with a growing internet infrastructure has led to the growth of forex trading in Bolivia. However, you’ll need to take steps to protect yourself and your capital during this period of change and growth. Some of the ways you can fight back against fraud and forex scams include:

  • Working only with licensed, well-known brokers. Whether they’re registered with the Central Bank of Bolivia or a comparable international oversight body, legitimate forex brokers are always regulated. Be sure to ask about licensure and regulation before you open an account.
  • Limit your leverage usage. It’s possible to find local brokers offering up to 1,000:1 leverage. This is a dangerously high level of leverage that’s very likely to cause bankruptcy for new traders. Limit the amount of leverage you use as much as possible.
  • Practice trading with a demo account. Most forex brokers allow you to practice your trading strategy with a demo account before investing your own money. Be sure to get familiar with your broker’s tools before you invest.

Best Online Forex Brokers in Bolivia

The forex broker you choose will dictate how much you pay in fees, which currencies you can buy and sell, the platforms you can use to trade and more. This means that it’s well worth the effort to take plenty of time researching and comparing brokers before you open an account.

Don’t have time to conduct your own research? Consider opening an account with one of our favorite international brokers offering services to investors in Bolivia below. 

Forex Terminology

One of the first things that you’ll notice when you begin researching the forex market is that forex traders seem to have their own unique language they use when discussing trades. Familiarizing yourself with forex terminology before you enter the market can enhance your understanding of the materials you’re reading. Explore a few of the most common forex terms you’ll hear with the definitions below.

  • Pip: A single pip is the smallest calculatable unit by which a currency can move, usually calculated to the 4th decimal place. For example, if a currency moves from a value of $1.0000 to $1.0010, you could say that the value increased by 10 pips.
  • Lot size: Your lot size is equal to the number of units of currency you are buying or selling on a single trade. For example, if you want to exchange ¥100,000 into euros, your lot size is equal to 100,000. Most forex traders consider 100,000 units of currency to be a “standard lot.”
  • Orders: An order is a specific set of instructions you provide to your forex broker so they can carry out a trade on your behalf. When you place an order, you’ll specify which currencies you’re exchanging, your lot size, the price that you need the order executed at and more. There are multiple types of orders and you can combine order types to limit your loss and automatically take profits.
  • Calls: A margin call is a risk of using leverage to trade. If you borrow money on leverage and your portfolio falls below a certain percentage, your broker might subject you to a margin call. If you receive a margin call, you’ll need to deposit more money in your account to make up the difference. If you cannot bring your portfolio value back up, you’ll need to exit your positions. 

Getting Started with Forex Trading

Forex trading is still a relatively new market for traders and investors in Bolivia. This means that laws and restrictions on brokers, leverage caps and more may change in the coming years as the Bolivian government gains a fuller understanding of how currency investing affects the local economy. If you do decide to trade forex, be sure to protect yourself and your investment by only using licensed brokers to invest with, limiting your leverage usage and practicing your trading on a demo account before you put money into your broker’s account. 

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Why You Need to Get Onboard With Blockchain!

Why You Need to Get Onboard With Blockchain!

Blockchain tech – so revolutionary in nature that some are calling it the “new internet.” It has applications in just about every industry, and has completely altered the way we think about internet security, the processing of information, and the speed of transactions.

Blockchain is the technology that supports the digital currency  or cryptocurrency called Bitcoin –

however this is not what it is really about as it has a far wider scope of applications and is being commercialized in a growing number of areas.

It has generated much interest in technology circles and beyond, because of the new possibilities it opens up in financial services, the public sector and other areas.

According to sites like BitFortune.net, blockchain tech is definitely worth keeping an eye on due to the myriad of benefits it provides.

Blockchain and Bitcoin are not the same thing – Bitcoin is implemented using blockchain technology, but blockchain technology can be used in contexts much wider than Bitcoin or other cryptocurrencies. so when we are talking about the blockchain we are talking about a combination of a number of technologies, these including:

  • Distributed ledgers.
  • The blockchain data structure.
  • Public key cryptography.
  • Consensus mechanisms.

Part of what makes it so exciting is that it is completely open source. As a result, there are already a number of interesting blockchain apps, and the number is growing daily.

The technology is so secure that it is already being used by DARPA to secure military data. Various governments around the world are working on ways to use the tech to protect their own data.
The tech is tamper-proof, and the data stored within it is permanent. It cannot be erased or altered, and this is what makes it so enticing to those needing more secure networks.

But there is more, folks. (Okay, so that sounds a bit like an infomercial, but the benefits are real nonetheless.) Transactions can speed across the network – taking only as much time as it takes for them to be authorized.

The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression.

William Mougayar

The system runs without the need for an intermediary, and this reduces the time it takes to execute transactions. This, and the unique way that the tech works, means that costs are significantly reduced as well.

What makes it so revolutionary is that the information is spread across every computer within the network. With Bitcoin, that means the data is securely “backed up” over thousands of computers.

Now, it is unlikely that banks will entrust their data to a public network in the same way, but they have been working on creating networks of their own instead.

The potential savings in terms of cost and time are extensive. If you want to learn more about these savings, check out the infographic below.

 

Why You Need to Get Onboard With Blockchain!


Why You Need to Get Onboard With Blockchain!


Visit bitfortune.net . for more interesting Infographics

Guys did an amazing job and was allowed to share.


 

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Statements about Cryptocurrency

Statements about Cryptocurrency

Cryptocurrencies are in a bubble and regulators could burst this at a whim.

  • Eight years after the introduction of Bitcoin, there are now over 900 cryptocurrencies and their prices are at all-time highs.
  • Richard Schiller categorizes bubbles as an underlying story driving the market forward, as opposed to the fundamentals of the assets. Cryptocurrencies are riding on a narrative of economic empowerment and freedom.
  • Despite the widespread attention that cryptocurrency receive, many of the actors involved in the market are not fully informed. Debate tends to turn to hype and naive investors are buying crypto-assets without fully understanding what they are.
  • Banks spend 73% of the market capitalization of Bitcoin each year on regulatory compliance. Crypto-assets are currently unregulated and free of these restrictions. As such, the market has thrived but also developed some bad habits.
  • Regulators cannot necessarily shut down cryptocurrencies, but they can restrict liquidity into them from fiat currencies and hamper their growth. The global derivatives market, for example, is worth $1.2 quadrillion, dwarfing Bitcoin’s $100 billion market cap.

Statements about Cryptocurrency

Market manipulations in crypto markets are undermining their credibility.

  • Due to low liquidity, no regulation, and a lack of clear understanding of the markets, pump and dumps are widespread in crypto markets. This is where a speculator can artificially sell while concurrently buying their own currency, wait for the market to rise, and then dump their holdings.
  • Frontrunning is also a common occurrence in ICOs, where early investors—who are used to show initial faith in the enterprise—buy discounted tokens before immediately selling them on.

As with historic bubbles, scams are exploiting naive investors.

ICOs can have the characteristics of vaporware. Entrepreneurs are raising hundred of millions of dollars purely on concepts. Money is being raised from investors who do not truly understand the technical concepts being proposed to them, let alone whether they are feasible.

  • The actual asset structures of ICOs are not only complex but also new forms of assets in their own right. This further confuses investors, which is compounded by the “FOMO” mentality of rushing into investments and following the crowd.
  • The use of celebrities to promote ICOs further demonstrates the use of manipulative marketing techniques used to cajole immature investors into participating in ICOs.
  • The current ICO craze is reminiscent of the South Sea Bubble of the 18th century, a speculatory period that involved crazed investment into enterprises in the New World. Once one of the highest valued companies of all time, the South Sea Company’s bubble burst and the company disappeared almost as quickly as it appeared.

Blockchains are still not proven technology, and more work is required.

  • Blockchains are still new concepts and their technology has not yet been proven on a consumer-wide scale. Attention should be focused on developing this, not speculating on short-termist projects.
  • The security of blockchains is a concept that most investors in crypto-assets do not understand. The onus is on them to protect their assets, which, on the basis of the amount of thefts and frauds in the space, is not being done properly.

There are some solutions to these issues.

  • A less polarized mentality of “us against the world” is needed; this could be enforced by the promotion of self-regulatory standards. These could also help to highlight the bad actors in the ecosystem.
  • More development is required into the underlying technology of blockchains. In the long run, this would be far more valuable than ICO moon-shot projects.
  • Awareness and discussion needs to be promoted. Conferences should present balanced debates from both sides of the crypto-view and more emphasis should be placed on educating investors instead of soliciting their investments.

Originally Published here at https://www.toptal.com

Statements about Cryptocurrency

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CMStrader Signals provider, the number 1 signal provider 4 years in a row

CMStrader Signals provider, the number 1 signal provider 4 years in a row.

CMStrader, the number 1 signal provider 4 years in a row, is now offering free signals to new clients!  Reliable trading tools are fundamental part of successful trading.

cmstrader for the Best Trading Signals

cmstrader for the Best Trading Signals

 

CMStrader’s signals success rate is estimated in 91% this should be enough to take a look and decide for yourself. since this is their biggest feature and drives this broker towards success, it is opretty afe to say that they do their utmost to provide you with quality forex signals.

This broker also entered the cryptocurrency market and offers several cryptocurrencies.  in short they act on the market and engage their clients directly.

when you start trading at CMSTrader, you can choose from a extended list of currencies, indices, commodities, gold and oil.

CMStrader Signals for better Trading

CMSTrader sends trading signals to traders’ accounts when there is an opportunity to buy or sell orders at specific points; an overview of the speculated price or loss ratio is included.

CMStrader Signals the number 1 signal provider among brokers

CMStrader Signals the number 1 signal provider among brokers

The signals are sent directly via SMS to a cellphone for major currencies traded on the stock exchange, foreign goods and precious metals.

In addition, signals can be sent to an e-mail address and or traders can be notified directly over the phone.  This service is available 24/5.

Like with Most proper signal services don’t expect 50 signals a day as simply there are not that many. you will get maybe a few good ones a day on which you could and most of the time should act.

Earn profits with CMStrader Signals in the forex market – the biggest trading scene in the world. Enjoy our unique benefits, trading education, minimum margin and best leverage! Start with a demo account and enter the amazing world of forex with CMStrader.

More about CMStrader Signals & Forex Broker

  • Name :CMSTrader
  • Website :cmstrader.com
  • Established :2013
  • Regulation :FSP
  • Country :United Kingdom
  • U.S. Clients Allowed ?  :No

CMSTrader is a leading investment advisor specializing in personal wealth management and growth and is a somewhat a newcomer to the Forex market.

they started in 2013 and since then have won several awards 2 including one for having best customer service in 2013.

CMSTrader “CMStrader Signals” is authorized under the name of CMS Ventures Limited which is a New Zealand Registered Financial Service Provider (FSP).

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