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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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RoboForex adding EOS Cryptocurrency

RoboForex adding EOS Cryptocurrency

RoboForex announced today adding EOS, a cryptocurrency which is now available for trading with the broker on both MT4 and MT5 platforms.

Roboforex added EOS CryptocurrencyCurrently, RoboForex clients have 7 crypto instruments to choose from.

RoboForex keeps expanding its crypto portfolio.

The latest addition is EOSUSD, which is already available to the clients through MT4 and MT5, alongside with six other crypto pairs:

BTCUSD, ETHUSD, BCHUSD, DSHUSD, LTCUSD, and XRPUSD.

The EOSUSD trading conditions are the following:

  • minimum lot size: 100,
  • minimum increment: 0.01,
  • leverage 5:1.

EOS is a cryptocurrency that was introduced in 2017 and is based on blockchain and smart contracts. Its key features are scalability, decentralized apps, and huge throughput (a few million transaction per second).

This is another step towards developing our crypto portfolio.

Our clients do value the flexibility and state of the art technologies we offer them As for us, our mission is meeting their expectations and constantly improving the trading conditions by opening the door to new instruments and opportunities.

says Denis Golomedov, ;Marketing Director at RoboForex.

Roboforex and Cryptocurrency

This Broker has been on the forefront of crypto trading on the Metatrader 4 and Metatrader trading platforms from the beginning and pushing for more and more trad-able assets to be added to their offering .

it took this broker a little bit of time but now that they got them selves into the cryptocurrency trading arena they come to lead the pack. this in combination with their the trading platforms they are offering makes this a broker to take notice of.

as yet there are not enough brokers that offer metatrader 5 and especially one where you are able to trade bitcoin ethereum, litecoin and now also EOS.

About RoboForex

RoboForex is a brokerage company catering to clients from various countries. The broker’s focus is providing the traders with access to its own financial market platforms.

RoboForex Ltd is a licensed company (License No. IFSC/60/271/TS/17).

 

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Local bitcoin Trader Jailed for Money Laundering

Indicted: Local bitcoin Trader Jailed for Money Laundering

Local Bitcoin trader, Theresa Lynn Tetley, also widely known as Bitcoin Maven has been indicted for indulging in illegal bitcoin-for-cash transactions. According to the Central District of California, the LocalBitcoins.com trader has been sentenced to 12 months in prison.

She has also been handed a three-year supervised release and a $20,000 fine. A former real estate investor and stockbroker, the court ordered her to relinquish $292,264.00 in cash, 25 assorted gold bars, and 40 bitcoin.

money launderingTetley pled guilty to one count of operating an unlicensed money exchange business, and another related to money laundering. Her case is the first of its kind in the Central District of California.

Tetley was procedurally supposed to register her business with the Financial Crimes Enforcement Network, an agency of the United States Department of the Treasury.

The agency is responsible for analyzing transactions to curb money laundering and related financial crimes. She also failed to implement standard anti-money laundering protocol, including reporting of certain financial sources as per the requirements of this type of business.

Tetley is said to have traded over $6 million for clients within the United States and charged higher rates as compared to other traders within the LocalBitcoins platform.

Also noted in the court documents was that Theresa Lynn laundered bitcoin for a customer who had been suspected of having acquired the cryptocurrency through illegal activities, including drug sales on the dark web.

She also carried out a bitcoin to cash transaction for an undercover agent who had explicitly declared that his bitcoin was tied to narco-trafficking operations.

According to the report, Tetley’s service was responsible for fueling the growing use of cryptocurrencies to launder money and supported a black market system set up purposely to circumvent the law.

The organizations involved in her investigation included the IRS Criminal Investigation and the Drug Enforcement Administration.

Just One of Many

That said, the government has been committing significant resources to counter the crypto – dark web menace, and earlier this month, a major sting operation was carried out against a major money laundering network. Thirty-five suspects were arrested.

One individual, identified as John Edward Monette, was charged with Conspiracy to Distribute a Controlled Substance. He was also alleged to have carried out numerous bitcoin for cash exchange transactions on the dark web, most of them in 2017 and totaling about $19,000.

Another dark web vendor busted during the operation, Ryan Farace, 34 was indicted for being involved in an alprazolam tablets manufacture and distribution scheme.

He sold the drugs on the dark web, with all transactions being made in bitcoin. Additional digital currency money laundering transactions were made to conceal the sources.

Article Originally Published:

By ELIZABETH GAIL at Coincentral

 

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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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