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Is it worthwhile to trade currencies? | Cyprus Mail

Trading foreign exchange is a seriously risky business, but it can also be seriously lucrative. As one very successful trader once told this writer: “In forex trading, the market will screw you if it can.”

Trading foreign exchange is a seriously risky business, but it can also be seriously lucrative.

As one very successful trader once told this writer: “In forex trading, the market will screw you if it can.”

There are ways of reducing risk and protecting the funds in your trading account. But forex trading requires a lot of attention – take your eyes off the account for a few minutes and you could be very, very sorry.

Is it worthwhile? A careful trader, once a certain level of experience is gained, can earn a significant percentage of return. How great a return depends on attention and skill. You will need to invest at least €1,000 to get started; some online platforms will start an account for you for less, but small sums tend to disappear quickly in rapid trade movements, even with good management.

Of course, if you invest €1 million, it is relatively easier to achieve gains than if you only invest €1,000, because even a tiny price movement in your favour brings in a substantial return.

Individual investors who wish to trade forex are advised to go one of two routes: the Forex trading broker, or an online platform for this kind of trading (these are run by brokers).

The vast majority of online trading takes place on the MT5 terminal which you can download for free from its maker MetaTrader. But the online platform you choose is likely to have one to offer you, and it is often tweaked for the broker’s specific needs.

You will be offered a chance to open a free demo account at most brokers, and it’s wise to familiarise yourself with the format first. Just remember: Trading on a demo account is not at all like the real thing. It’s only when your money is at risk that the real trader shows his/her stuff, and once you launch a forex trade, it’s out of your control until you close it. There is no pause button.

You either buy or sell a currency pair, like GBP/USD using your online account, and you try t0 determine, using various tools, whether you expect the pound to rise or fall against the dollar. You use ‘stops’ to limit risk, meaning that when you gain a certain amount or lose a certain amount, the stop closes the trade. Forex pair prices can change in a nanosecond, so even if you’re sitting and watch with your finger on the mouse, you can lose a fortune in the time it takes to click – use stops!

Then there are any number of approaches to forex trading – Elliot Wave, Momentum, the very traditional use of Fibonacci number sequences, just to give a few examples.

But the basic principle remains the same in all of them. Forex trades move higher and lower in wave patterns all day long, from Sunday morning to Friday evening – this includes nearly all of the currencies in the world except for those that are pegged to the dollar or another major currency.

You make sense of these movements based on either fundamentals – the ECB raises interest rates, so the euro goes higher, or any other event of this kind – or technical trading which just looks at price movements.

Fundamentals trading is somewhat easier if you are just starting out, but is far less predictable than technical trading. You know, for example, that the Bank of Japan is making an announcement today, and it looks like it will announce a new policy. You have carefully read analysis, and you think that it means the yen will go higher. So you buy JPY/EUR, for example. And wait to see what happens.

Technical trading looks for two things in price movements: Resistance and support floor. Choosing a single currency pair, you watch for the point at which the price stops rising – the point of resistance. Your currency pair goes from 90 to 100, then drops to 95, then goes back to 1o0 again. This makes 100 a probable point of resistance. Or the pair drops to 90, and then goes back to 95, then to 90 – 90 is probably the support floor.

Certain types of trading patterns show up on the charts on your terminal indicating that resistance is likely to be overcome, or that a price will drop below a support floor. These can be learned from books on forex trading. Your terminal will have other tools, indicators and special programmes that also help you to determine when to buy and when to sell.

And the longer you trade seriously, spending at least a few hours every day, the better you will get at it.

But for some HNWI individuals, there is the other alternative of working with a forex trading house.

Cyprus, as is well-known, is home to a large forex broker industry. These houses usually offer to trade for you, using either a model trading strategy or an algorithm. The model trading strategy uses a well-defined approach that has a history of success, and it is usually applied via a computer programme.

The algorithm offers automatic reactions in specific trading conditions, trading always at specific times, or at specific price levels.   This kind of trading is very efficient, and low-cost, and produces usually a 6-12 per cent return per month, although some trading houses may be able to show a higher return.

Yes, it’s worthwhile. But it’s tough. It can also be great fun, and really satisfying.

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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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Supreme Court Sides With Bits of Gold in Bank Dispute

Supreme Court Sides With Bitcoin Broker “Bits of Gold” in Israeli Bank Dispute

Upon appeal, the Israeli Supreme Court has rejected the closure of Bits of Gold’s banking facilities at Leumi bank, Tel Aviv.

The Israeli cryptocurrency brokerage’s appeal followed a previous ruling against it that has now been set aside by the higher court.

As Israel and many other countries struggle with the accelerated phenomenon of virtual currencies, Leumi Bank recently made the news for being a particularly blunt in its rejection of Bitcoin.

We should of course not be surprised with the banks attitude towards bitcoin or any other cryptocurrency for that matter. keep in mind that the banks become more and more obsolete because of them. Bits of gold versus leumi

They will keep on loosing money which now they make with ridiculous commissions of work that is fully automated. so they will try to see how they are able to make the operation and acquiring cryptos  as hard as possible knowing that they will never be able to stop them.

There is widespread anticipation that the upcoming G20 Summit in March 2018 will produce a global, moderate framework for a regulatory approach. Set against that are persistent hostile stances the world over from banks, asset managers and even governments towards cryptocurrencies.

Now that the countries understand there is money to be made with Taxation in cryptocurrencies they might want to make sure that the banks stay within their lane. 

Apart from the Israeli revenue service opting to tax cryptocurrency assets as “properties” and other more positive developments dating back to mid-2017, Israel remains a strange mix of genteel acceptance alongside wildly opposing voices.

There is thus Hope But no decision

Bits of Gold has fought a David and Goliath battle since their banker decided it wanted to steer clear of all cryptocurrency-related business.

On record as recently telling another bitcoin-related trader that they simply don’t want the business, Leumi Bank’s hard-line stance is accumulating bad press. The second-largest bank in Israel appears as discriminatory when analyzing virtual currency traders and other digital coin businesses.

During 2017, a customer made a bank transfer to the Kraken exchange site for buying bitcoin worth $1000. The bank identified the request, halted it, and started investigating.

The elated CEO of Bits of Gold, Youval Rouach said that “The court’s decision enables us to focus on the growth of the Israeli cryptocurrency community.”

 

The February 26 Supreme Court ruling granted Bits of Gold a temporary injunction against their account closure pending further scrutiny by the bank and other parties. The presiding bench declared that the company had “acted transparently and did not violate any provision of law.”

Calling the bank’s concerns “speculative” and turning an unsympathetic ear to the plaintiff, the ruling does, however, allow for the bank to still close the account on any small technical detail that defies legislation. As a record of a public spat around cryptocurrency’s right to be recognized in many ways, the ruling is seen as a victory for the local cryptocurrency community.

One Small Step Forward

Although not as absolute as nations like China that has opted for draconian bans, Israel is a front line for digital coins’ right not just to exist, but also become assets in the true sense of the word. The Supreme Court noted in its written ruling that Bits of Gold had not made itself guilty of the violation of any standing laws since opening its doors for business.

 

The Bits of Gold v. Leumi Bank case might become something of a test case once the bank applies its mind in scrutinizing the company’s accounts against the backdrop of existing legislation. The outcome will also be informed by sentiment post the G20 Summit due in March as well as other global regulatory trends.

Now that the countries understand there is money to be made with Taxation in cryptocurrencies they might want to make sure that the banks stay within their lane.

This was First Published by coindesk

 

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