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Former investment bank FX trader: News trading and second order thinking part 2/2

Former investment bank FX trader: News trading and second order thinking part 2/2
Thanks for all the upvotes and comments on the previous pieces:
From the first half of the news trading note we learned some ways to estimate what is priced in by the market. We learned that we are trading any gap in market expectations rather than the result itself. A good result when the market expected a fantastic result is disappointing! We also looked at second order thinking. After all that, I hope the reaction of prices to events is starting to make more sense to you.

Before you understand the core concepts of pricing in and second order thinking, price reactions to events can seem mystifying at times
We'll add one thought-provoking quote. Keynes (that rare economist who also managed institutional money) offered this analogy. He compared selecting investments to a beauty contest in which newspaper readers would write in with their votes and win a prize if their votes most closely matched the six most popularly selected women across all readers:
It is not a case of choosing those (faces) which, to the best of one’s judgment, are really the prettiest, nor even those which average opinions genuinely thinks the prettiest. We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be.
Trading is no different. You are trying to anticipate how other traders will react to news and how that will move prices. Perhaps you disagree with their reaction. Still, if you can anticipate what it will be you would be sensible to act upon it. Don't forget: meanwhile they are also trying to anticipate what you and everyone else will do.

Part II
  • Preparing for quantitative and qualitative releases
  • Data surprise index
  • Using recent events to predict future reactions
  • Buy the rumour, sell the fact
  • The trimming position effect
  • Reversals
  • Some key FX releases

Preparing for quantitative and qualitative releases

The majority of releases are quantitative. All that means is there’s some number. Like unemployment figures or GDP.
Historic results provide interesting context. We are looking below the Australian unemployment rate which is released monthly. If you plot it out a few years back you can spot a clear trend, which got massively reversed. Knowing this trend gives you additional information when the figure is released. In the same way prices can trend so do economic data.

A great resource that's totally free to use
This makes sense: if for example things are getting steadily better in the economy you’d expect to see unemployment steadily going down.
Knowing the trend and how much noise there is in the data gives you an informational edge over lazy traders.
For example, when we see the spike above 6% on the above you’d instantly know it was crazy and a huge trading opportunity since a) the fluctuations month on month are normally tiny and b) it is a huge reversal of the long-term trend.
Would all the other AUDUSD traders know and react proportionately? If not and yet they still trade, their laziness may be an opportunity for more informed traders to make some money.
Tradingeconomics.com offers really high quality analysis. You can see all the major indicators for each country. Clicking them brings up their history as well as an explanation of what they show.
For example, here’s German Consumer Confidence.

Helpful context
There are also qualitative events. Normally these are speeches by Central Bankers.
There are whole blogs dedicated to closely reading such texts and looking for subtle changes in direction or opinion on the economy. Stuff like how often does the phrase "in a good place" come up when the Chair of the Fed speaks. It is pretty dry stuff. Yet these are leading indicators of how each member may vote to set interest rates. Ed Yardeni is the go-to guy on central banks.

Data surprise index

The other thing you might look at is something investment banks produce for their customers. A data surprise index. I am not sure if these are available in retail land - there's no reason they shouldn't be but the economic calendars online are very basic.
You’ll remember we talked about data not being good or bad of itself but good or bad relative to what was expected. These indices measure this difference.
If results are consistently better than analysts expect then you’ll see a positive number. If they are consistently worse than analysts expect a negative number. You can see they tend to swing from positive to negative.

Mean reversion at its best! Data surprise indices measure how much better or worse data came in vs forecast
There are many theories for this but in general people consider that analysts herd around the consensus. They are scared to be outliers and look ‘wrong’ or ‘stupid’ so they instead place estimates close to the pack of their peers.
When economic conditions change they may therefore be slow to update. When they are wrong consistently - say too bearish - they eventually flip the other way and become too bullish.
These charts can be interesting to give you an idea of how the recent data releases have been versus market expectations. You may try to spot the turning points in macroeconomic data that drive long term currency prices and trends.

Using recent events to predict future reactions

The market reaction function is the most important thing on an economic calendar in many ways. It means: what will happen to the price if the data is better or worse than the market expects?
That seems easy to answer but it is not.
Consider the example of consumer confidence we had earlier.
  • Many times the market will shrug and ignore it.
  • But when the economic recovery is predicated on a strong consumer it may move markets a lot.
Or consider the S&P index of US stocks (Wall Street).
  • If you get good economic data that beats analyst estimates surely it should go up? Well, sometimes that is certainly the case.
  • But good economic data might result in the US Central Bank raising interest rates. Raising interest rates will generally make the stock market go down!
So better than expected data could make the S&P go up (“the economy is great”) or down (“the Fed is more likely to raise rates”). It depends. The market can interpret the same data totally differently at different times.
One clue is to look at what happened to the price of risk assets at the last event.
For example, let’s say we looked at unemployment and it came in a lot worse than forecast last month. What happened to the S&P back then?

2% drop last time on a 'worse than expected' number ... so it it is 'better than expected' best guess is we rally 2% higher
So this tells us that - at least for our most recent event - the S&P moved 2% lower on a far worse than expected number. This gives us some guidance as to what it might do next time and the direction. Bad number = lower S&P. For a huge surprise 2% is the size of move we’d expect.
Again - this is a real limitation of online calendars. They should show next to the historic results (expected/actual) the reaction of various instruments.

Buy the rumour, sell the fact

A final example of an unpredictable reaction relates to the old rule of ‘Buy the rumour, sell the fact.’ This captures the tendency for markets to anticipate events and then reverse when they occur.

Buy the rumour, sell the fact
In short: people take profit and close their positions when what they expected to happen is confirmed.
So we have to decide which driver is most important to the market at any point in time. You obviously cannot ask every participant. The best way to do it is to look at what happened recently. Look at the price action during recent releases and you will get a feel for how much the market moves and in which direction.

Trimming or taking off positions

One thing to note is that events sometimes give smart participants information about positioning. This is because many traders take off or reduce positions ahead of big news events for risk management purposes.
Imagine we see GBPUSD rises in the hour before GDP release. That probably indicates the market is short and has taken off / flattened its positions.

The price action before an event can tell you about speculative positioning
If GDP is merely in line with expectations those same people are likely to add back their positions. They avoided a potential banana skin. This is why sometimes the market moves on an event that seemingly was bang on consensus.
But you have learned something. The speculative market is short and may prove vulnerable to a squeeze.

Two kinds of reversals

Fairly often you’ll see the market move in one direction on a release then turn around and go the other way.
These are known as reversals. Traders will often ‘fade’ a move, meaning bet against it and expect it to reverse.

Logical reversals

Sometimes this happens when the data looks good at first glance but the details don’t support it.
For example, say the headline is very bullish on German manufacturing numbers but then a minute later it becomes clear the company who releases the data has changed methodology or believes the number is driven by a one-off event. Or maybe the headline number is positive but buried in the detail there is a very negative revision to previous numbers.
Fading the initial spike is one way to trade news. Try looking at what the price action is one minute after the event and thirty minutes afterwards on historic releases.

Crazy reversals


Some reversals don't make sense
Sometimes a reversal happens for seemingly no fundamental reason. Say you get clearly positive news that is better than anyone expects. There are no caveats to the positive number. Yet the price briefly spikes up and then falls hard. What on earth?
This is a pure supply and demand thing. Even on bullish news the market cannot sustain a rally. The market is telling you it wants to sell this asset. Try not to get in its way.

Some key releases

As we have already discussed, different releases are important at different times. However, we’ll look at some consistently important ones in this final section.

Interest rates decisions

These can sometimes be unscheduled. However, normally the decisions are announced monthly. The exact process varies for each central bank. Typically there’s a headline decision e.g. maintain 0.75% rate.
You may also see “minutes” of the meeting in which the decision was reached and a vote tally e.g. 7 for maintain, 2 for lower rates. These are always top-tier data releases and have capacity to move the currency a lot.
A hawkish central bank (higher rates) will tend to move a currency higher whilst a dovish central bank (lower rates) will tend to move a currency lower.
A central banker speaking is always a big event

Non farm payrolls

These are released once per month. This is another top-tier release that will move all USD pairs as well as equities.
There are three numbers:
  • The headline number of jobs created (bigger is better)
  • The unemployment rate (smaller is better)
  • Average hourly earnings (depends)
Bear in mind these headline numbers are often off by around 75,000. If a report comes in +/- 25,000 of the forecast, that is probably a non event.
In general a positive response should move the USD higher but check recent price action.
Other countries each have their own unemployment data releases but this is the single most important release.

Surveys

There are various types of surveys: consumer confidence; house price expectations; purchasing managers index etc.
Each one basically asks a group of people if they expect to make more purchases or activity in their area of expertise to rise. There are so many we won’t go into each one here.
A really useful tool is the tradingeconomics.com economic indicators for each country. You can see all the major indicators and an explanation of each plus the historic results.

GDP

Gross Domestic Product is another big release. It is a measure of how much a country’s economy is growing.
In general the market focuses more on ‘advance’ GDP forecasts more than ‘final’ numbers, which are often released at the same time.
This is because the final figures are accurate but by the time they come around the market has already seen all the inputs. The advance figure tends to be less accurate but incorporates new information that the market may not have known before the release.
In general a strong GDP number is good for the domestic currency.

Inflation

Countries tend to release measures of inflation (increase in prices) each month. These releases are important mainly because they may influence the future decisions of the central bank, when setting the interest rate.
See the FX fundamentals section for more details.

Industrial data

Things like factory orders or or inventory levels. These can provide a leading indicator of the strength of the economy.
These numbers can be extremely volatile. This is because a one-off large order can drive the numbers well outside usual levels.
Pay careful attention to previous releases so you have a sense of how noisy each release is and what kind of moves might be expected.

Comments

Often there is really good stuff in the comments/replies. Check out 'squitstoomuch' for some excellent observations on why some news sources are noisy but early (think: Twitter, ZeroHedge). The Softbank story is a good recent example: was in ZeroHedge a day before the FT but the market moved on the FT. Also an interesting comment on mistakes, which definitely happen on breaking news, and can cause massive reversals.

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Weekly Update: Blink-and-you-miss Parena, CyberFM suspends On-Air Ads, Intellishare withdrawal announcement, BitForex + Mycro.. – 20 Mar - 26 Mar'20

Weekly Update: Blink-and-you-miss Parena, CyberFM suspends On-Air Ads, Intellishare withdrawal announcement, BitForex + Mycro.. – 20 Mar - 26 Mar'20
Heyo folks! Want to get off the COVID-19 news cycle? Hop onto the Parachute express. Here’s your week at Parachute + partners (20 Mar - 26 Mar'20):

Doc Vic hosted a CoD Mobile Battle Royale in the Parachute War Zone while Alejandro hosted a gun mode flash game followed by a free for all flash game. The PAR4PAR raffle continues too. Get on in the action to win some cool $PAR just for HODLing. Afful held a trivia in TTR for 1k $PAR in prizes per question. While Gamerboy’s history trivia in tiproom was a ton of fun, Charlotte’s math quiz bamboozled everyone. Foo held a blink-and-you-miss Parena this week. Gian’s Two-for-Tuesday was a welcome respite in these testing times with Parachuters invited to post music from their home countries. Sebastian, like always, was a Godsend for setting up a playlist of all the posts. For #wholesomewed, Parachuters looked for "the most ridiculous item for sale of Amazon". Haha!
The wackiest #wholesomewed entries from Streamr, Franklin and Christian (L-R)
Click here to watch this week’s aXpire update video. For the weekly token burn, 20k $AXPR was sent to the Ethereum Genesis Address. 2gether has observed a 236% rise in crypto purchases during the COVID-19 crisis period. Results of these findings were published on Cointelegraph as well as shared in a video by YouTuber Tiziano Tridico. Bounty0x Telegram community members were in for a treat this week. The project partnered with Unstoppable Domains to offer a free .crypto domain to everybody who followed the instructions here. Switch published their latest product update this week. Click here to read about Fantom’s views on regulations and expansion plans in Korea. The latest technical update was published as well. Following the project’s partnership with Band Protocol which was announced last week, the two teams got together for an AMA this week. Plus, congrats on reaching 1Bn staked $FTM! A brand new API was released so that it could keep up with the chain followed by the release of its chain explorer – Fantom Vision. Uptrennd founder Jeff Kirdeikis hosted a community AMA to take feedback on how to improve the platform. Jeff also wrote about the markets and how they have affected Uptrennd amidst the COVID-19 situation. And congrats on the merch shop. Get your Uptrennd gear, folks! Digibyte won the public vote which started last week to select a project for a free free review + marketing package from Uptrennd. The report will be published next week. Entries for the Article of the Month contest ended this week with a public vote to adjudge the best. CyberFM suspended all On-Air advertising this week to be replaced by public service announcements and free advertising for small local businesses.
That is a big jump indeed
Harmony’s #pow thread is a detailed summry of the individual-level work of all team members over the last week. The weekly video digest can be seen here. The crew also conducted a meetup over Zoom this week. Validators, delegators and stakers have their own chat room now as well. The winners of the $ONE trading competition on ViteX started few weeks back were announced this week. Privacy protocol Suterusu partnered with Harmony to add new privacy features to the $ONE blockchain. $ONE got listed on SimpleSwap. Mainnet swap was completed on HitBTC. Did you know it would less than a minute to recover your node after a network hard reset? Check out this video to see for yourself. Plus, a demo of how cheap a transaction can be showed you could do almost a thousand transactions with 1 $ONE. The project also joined hands with several other blockchain companies to contribute computing power for COVID-19 research through BOINC Network. Intellishare announced a deadline (24 Apr’20) with withdraw all funds from their website to prepare for an upgrade. GET Protocol CEO Maarten Bloemers wrote penned his thoughts on the present COVID-19 crisis and how the platform is coping with it. Despite the lockdown, the team’s “spirits” continue to remain high. Get it, get it? Haha. As the Q1 2020 burn report gets close, the community got together to guess the burn amount to win some cool $GET tokens. THE $COTI top management were invited by Cardano this week to talk about payment networks. Following the claim reward option released last week, the unstake option was also made available to stakers on the mainnet wallet starting this week. A new upgrade was made to the transaction distribution algorithm to ensure fair chance to all participating nodes in the network. For the latest project status report, click here. Plus, congratulations on the new funding round. $ETH HODLers, you might want to check your wallets. DoYourTip airdropped 20 $DYT tokens to each wallet that held some ParJar supported tokens this week.
New unstake option in the COTI mainnet wallet
This week’s District0x Dapp Digest had former professional basketball player and founder of DAOhub Auryn Macmillan as an interviewee. The District Weekly covers the last 7 days in the District0xverse. Hydrogen announced an integration with KYC provider Trulioo this week. The project was also mentioned in a Forbes article listing fintechs that were offering free technology in the COVID-19 crisis. Thinking of building a fintech app? The crew explained what it takes to make one in their latest blog post. Crypto chartist Stacking USD announced a partnership with Sentivate where he will be creating curated $SNTVT-focused content. Still haven’t seen Sentivate’s social site? Check out the FAQs to learn more. BitForex partnered with Mycro to have their latest campaign on the Mycro Hunter App. SelfKey joined Blockfolio Signal this week. This allows them to share project updates as notifications with Blockfolio users. How could COVID-19 affect your data security? Read all about it in SelfKey’s latest blog post. Plus, tips for WFH (Work From Home) during the lockdown. WhiteBIT was added to the exchange marketplace this week. The team also answered some FAQs on the $KEY token and tokenomics. Additionally, the team wrote about how China’s Social Credit System would mean for the digital identity ecosystem. KuCoin announced support for Constellation’s $DAG mainnet swap. CEO Ben Jorgensen also shared some updates on the swap and onboarding node operators. Owing to the COVID-19 lockdowns, Wibson crew attended this week’s Ethereum Buenos Aires meetup on Zoom.

And with that, it’s a close for this week at Parachute! See you again with another update. Bye for now!
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Trading Contest: Rules, Benchmarks and Prizes.

I've now arranged at least one backer for the trading contest to provide investment prizes. Some of the details of this may be subject to change. Last week my girlfriend went away on a trip and in the car she took was a bag with two of my phones and one laptop. So I've not yet discussed the finer points of this on the phone with the backer yet, just briefly exchanged some emails and have an agreement in principle. I'll be able to confirm Sunday/Monday when she's back.

Initial Funding Offer

Testing investment of $10,000. Scaling to full investment of $100,000. Further adding of funding up to $1 million.

Requirements

Meet a tier 3 trader benchmark.
Tier 3 traders have to be able to produce an average return of 3% a month and never exceed 10% drawdown.
Results need to be over 9 month - 12 months. The trading data needs to be made available for quant team analysis.

Account Requirements

Results have to be produced on live accounts, with a funding of $1,000 (or more).

If anyone is able to produce solid results but for some reason can not afford to fund this, I am willing to sponsor you for this, providing the seed capital (essentially investing in you). For me to do this, I'll need to see you producing solid results on a demo account for at least 3 - 6 months. If you can, I'll set up something to allow you access to live funds trading without self funding it.

Drawdown Rules

Drawdown will be tracked with professional metrics. This means we are tracking equity drawdown (not balance drawdown), and it mean we're tracking equity drawdown from high water mark.

This means if you open trades and they float against you, but later close profitably the drawdown in running trades is counted as losses. It also means if your trades go into profit and later close at a loss the percentage loss will be from the high in equity. So for example if you go up 2% in equity profit and close 1% loss, you lost 3%. 3% is your high water mark drawdown.

So it is essential you can both control your running equity losses, and efficiently cap losses on unrealised profits.

Markets

The backer is mainly from the Forex world, but also willing to provide backing for results from other markets. So people can trade where they know best.

(Note: For me funding you, I'll probably only be accepting Forex. Logistical reasons).

Toxic Tendencies

Results will be screened by quant team for 'toxic tendencies'. These are known weaknesses in strategies that mean they can produce short term results, but rarely are sustainable. The most common example of this is martingale. Toxic tendencies strategies will be rejected even if they produce good results. If there is any chance at all of them being considered 18 months or more of trading history will be required.

Fresh Accounts

For the purposes of this contest, all accounts will have to be new accounts tracking forward from the start date of the contest. Backtesting or previous forward testing will not be accepted.

Further Funding

The funding available can be further increased if tier 3 benchmarks are passed. Tier 3 is the lowest viable results, with funding usually capped under 5 million (most commonly 1 million). If traders can beat tier 3 results and match tier 2 or even tier 1 results, a lot more funding is available.
As a rule of thumb, tier 2 traders have minimum investments of 5 - 10 million. Tier 1 traders minimum investments of $100 million. I will discuss in more detail with people how to progress through these tiers if and when it is applicable.

Time Scale of Opportunity

This is open indefinitely. The backer will probably be quite happy to offer incentives like this for a long time (profitable traders are worth a lot of money to those who can fund them). Even if for some reason they decide to no longer offer funding, in a few years time I will be in a position where I can allocate large amounts of funds to profitable traders - so I will provide continuity of this offer.

My Benchmarks

As benchmarks, I will provide a few different strategies that I know are suitable for tier 3 trading. It has always been in my plan to provide some strategy write ups for these for people to learn them, and then have them running with ongoing results updates for people to see how they perform. So I will just push on with getting this set up, and then use these strategies as my entries into the contest and setting of tier 3 benchmarks.

Starting Date

ETA for this is probably in the next 3 weeks. This gives me a bit of time to do the strategy write ups and finalise details on funding requirements and scale up of investments. I will update on this when I have a more solid timeline.
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𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗩𝗦 𝗦𝘁𝗿𝗲𝘀𝘀

𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗩𝗦 𝗦𝘁𝗿𝗲𝘀𝘀

TopAsiaFX - 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗩𝗦 𝗦𝘁𝗿𝗲𝘀𝘀
#forex #trading #strategy #fxtips #onlinetrade
Do you ever know stress enhancements when we realize we lack control over a condition?
Usually, I, you and we cannot control the markets, and we accept risk on each trade—the result of which is always insecure. The changing nature of the markets also adds stress.
TIPS:
  1. Be quiet and get some exercise 💪.
  2. Understand that stress is natural and helps us be alert when we’re exposed to the risks and uncertainties of the markets.
👉Pro: topasiafx.com helps you find your reliable source of brokers, promotions, contests, and other FX info.
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Weekly Stock Picking Contest for the Week of (9/26 - 9/30) is now OPEN for PICKS!

StockMarket Stock Picking Challenge for the Week of (9/26 - 9/30)

PLEASE READ THESE RULES THOROUGHLY BEFORE POSTING UP YOUR PICKS!

SEE NEW RULE CHANGE #7 AT THE BOTTOM -- RATIONALE NOW A REQUIREMENT!!

If you want to be eligible to participate in this week's contest here is what you need to do (REQUIRED!):
Contest Rules (READ THESE AND FOLLOW THEM!):
I will post up the live contest spreadsheet a little after the market closes on Monday with everyone's picks posted, this will include your opening prices, current prices, P&L, & Total ROI for each of your picks, as well as an overall total ROI and an overall average ROI between 2 of your picks, and that will be what we will use to total up both of your 2 picks!
In addition, since we're doing this contest on Reddit, no one will be able to close out their picks during the trading week... Everyone's picks will close at Friday's close! And also everyone's picks will start at Monday's opening prices.
Good luck to everyone in here! Let's see who can deliver the 2 best picks for this week and take bragging rights as the best stock picker of the week here at StockMarket! :)
If you have any questions about anything feel free to fire away on this thread...
Also, for anyone looking around for our past weekly contest threads & results here they are!:
Here was our 2nd weekly contest thread & results on StockMarket:
And here was our 3rd weekly contest thread & results on StockMarket:
Hope to see another great show of participation in here once again this week from everyone here at StockMarket!:)
Again please try to get those 2 picks in before the 9:30am EST market open on Monday! Ready, set, GO!!!
I'm getting a super early start to next week's contest so let's try to ramp it up on the participation this week!! :D
Have fun all and GLTA! :)
submitted by bigbear0083 to StockMarket [link] [comments]

r/StockMarket Weekly Stock Picking Challenge for the Week of (10/10 - 10/14) is now open for picks! *RATIONALE REQUIRED!*

Welcome to the StockMarket Weekly Stock Picking Challenge for the Week of (10/10 - 10/14)

PLEASE READ THESE RULES THOROUGHLY BEFORE POSTING UP YOUR PICKS!

SEE RECENT NEW RULE CHANGE #7 AT THE BOTTOM -- RATIONALE NOW A REQUIREMENT!!!

If you want to be eligible to participate in this week's contest here is what you need to do (REQUIRED!):
Contest Rules (READ THESE AND FOLLOW THEM!):
I will post up the live contest spreadsheet a little after the market closes on Monday with everyone's picks posted, this will include your opening prices, current prices, P&L, & Total ROI for each of your picks, as well as an overall total ROI and an overall average ROI between 2 of your picks, and that will be what we will use to total up both of your 2 picks!
In addition, since we're doing this contest on Reddit, no one will be able to close out their picks during the trading week... Everyone's picks will close at Friday's close! And also everyone's picks will start at Monday's opening prices.
Good luck to everyone in here! Let's see who can deliver the 2 best picks for this week and take bragging rights as the best stock picker of the week here at StockMarket! :)
If you have any questions about anything feel free to fire away on this thread...
Also, for anyone looking around for our past weekly contest threads & results here they are!:
Here was our 2nd weekly contest thread & results on StockMarket:
Here was our 3rd weekly contest thread & results on StockMarket:
Here was our 4th weekly contest thread & results on StockMarket:
And here is our 5th weekly contest thread & results on StockMarket:
Hope to see another great show of participation in here once again this week from everyone here at StockMarket!:)
Again please try to get those 2 picks in before the 9:30am EST market open on Monday! Ready, set, GO!!!
You guys will notice that I am getting an extremely early start for next week's contest because of some other priorities I have going on this weekend, so let's try to ramp it up on the participation once again this week!! 24 contestants would be the # to beat for a new record high on participation! Let's do it!
Have fun all and GLTA! :)
submitted by bigbear0083 to StockMarket [link] [comments]

r/StockMarket Weekly Stock Picking Contest for the Week of (10/3-10/7) is now open for picks! *Rationale Required!*

StockMarket Stock Picking Challenge for the Week of (10/3 - 10/7)

PLEASE READ THESE RULES THOROUGHLY BEFORE POSTING UP YOUR PICKS!

SEE RECENT NEW RULE CHANGE #7 AT THE BOTTOM -- RATIONALE NOW A REQUIREMENT!!!

If you want to be eligible to participate in this week's contest here is what you need to do (REQUIRED!):
Contest Rules (READ THESE AND FOLLOW THEM!):
I will post up the live contest spreadsheet a little after the market closes on Monday with everyone's picks posted, this will include your opening prices, current prices, P&L, & Total ROI for each of your picks, as well as an overall total ROI and an overall average ROI between 2 of your picks, and that will be what we will use to total up both of your 2 picks!
In addition, since we're doing this contest on Reddit, no one will be able to close out their picks during the trading week... Everyone's picks will close at Friday's close! And also everyone's picks will start at Monday's opening prices.
Good luck to everyone in here! Let's see who can deliver the 2 best picks for this week and take bragging rights as the best stock picker of the week here at StockMarket! :)
If you have any questions about anything feel free to fire away on this thread...
Also, for anyone looking around for our past weekly contest threads & results here they are!:
Here was our 2nd weekly contest thread & results on StockMarket:
Here was our 3rd weekly contest thread & results on StockMarket:
And here was our 4th weekly contest thread & results on StockMarket:
Hope to see another great show of participation in here once again this week from everyone here at StockMarket!:)
Again please try to get those 2 picks in before the 9:30am EST market open on Monday! Ready, set, GO!!!
I'm getting another super early start to next week's contest so let's try to ramp it up on the participation this week!! :D
Have fun all and GLTA! :)
submitted by bigbear0083 to StockMarket [link] [comments]

r/StockMarket Weekly Stock Picking Challenge for the Week of (10/24 - 10/28) is now OPEN for picks! *RATIONALE REQUIRED!*

Welcome to the StockMarket Weekly Stock Picking Challenge for the Week of (10/24 - 10/28)

PLEASE READ THESE RULES THOROUGHLY BEFORE POSTING UP YOUR PICKS!

SEE RECENT RULE CHANGE #7 AT THE BOTTOM -- RATIONALE NOW A REQUIREMENT!!!

If you want to be eligible to participate in this week's contest here is what you need to do (REQUIRED!):
Contest Rules (READ THESE AND FOLLOW THEM!):
I will post up the live contest spreadsheet a little after the market closes on Monday with everyone's picks posted, this will include your opening prices, current prices, P&L, & Total ROI for each of your picks, as well as an overall total ROI and an overall average ROI between 2 of your picks, and that will be what we will use to total up both of your 2 picks!
In addition, since we're doing this contest on Reddit, no one will be able to close out their picks during the trading week... Everyone's picks will close at Friday's close! And also everyone's picks will start at Monday's opening prices.
Good luck to everyone in here! Let's see who can deliver the 2 best picks for this week and take bragging rights as the best stock picker of the week here at StockMarket! :)
If you have any questions about anything feel free to fire away on this thread...
Also, for anyone looking around for our past weekly contest threads & results here they are!:
Here was our 2nd weekly contest thread & results on StockMarket:
Here was our 3rd weekly contest thread & results on StockMarket:
Here was our 4th weekly contest thread & results on StockMarket:
Here was our 5th weekly contest thread & results on StockMarket:
Here was our 6th weekly contest thread & results on StockMarket:
And here was our 7th weekly contest thread & results on StockMarket:
Hope to see another great show of participation in here once again this week from everyone here at StockMarket! :)
Again please try to get those 2 picks in before the 9:30am eastern market open on Monday! Ready, set, GO!!!
You guys will notice that I am getting a super early start here for next week's contest thread here because of some other priorities I have going on this weekend, so let's try to ramp it up on the participation once again this week! 24 contestants would be the # to beat for a new record high on participation! Let's do it!
Have fun all and GLTA this upcoming week ahead! :)
submitted by bigbear0083 to StockMarket [link] [comments]

r/StockMarket Weekly Stock Picking Challenge for the Week of (9/19 - 9/23) is now OPEN for PICKS! :)

As promised yesterday here is your new weekly stock picking challenge picks thread which is now officially open for picks! :)

StockMarket Stock Picking Challenge for the Week of (9/19 - 9/23)

PLEASE READ THESE RULES THOROUGHLY BEFORE POSTING UP YOUR PICKS!
If you want to be eligible to participate in this week's contest here is what you need to do (REQUIRED!):
Contest Rules (READ THESE AND FOLLOW THEM!):
I will post up the live contest spreadsheet a little after the market closes on Monday with everyone's picks posted, this will include your opening prices, current prices, P&L, & Total ROI for each of your picks, as well as an overall average ROI between 2 of your picks, and that will be what we will use to total up both of your 2 picks!
In addition, since we're doing this contest on Reddit, no one will be able to close out their picks during the trading week... Everyone's picks will close at Friday's close! And also everyone's picks will start at Monday's opening prices.
Good luck to everyone in here! Let's see who can deliver the 2 best picks for this week and take bragging rights as the best stock picker of the week here at StockMarket! :)
If you have any questions about anything feel free to fire away...
Also, for anyone looking around for our past weekly contest threads & results here they are!:
And here was our 2nd ever weekly contest thread & results on StockMarket:
Hope to see another great show of participation in here once again this week from everyone here at StockMarket!:)
Again please try to get those 2 picks in before the 9:30am EST market open on Monday! Ready, set, GO!!!
Have fun all and GLTA! :)
submitted by bigbear0083 to StockMarket [link] [comments]

r/StockMarket Weekly Stock Picking Challenge for the Week of (10/17 - 10/21) is now OPEN for picks! *RATIONALE REQUIRED!*

Welcome to the StockMarket Weekly Stock Picking Challenge for the Week of (10/17 - 10/21)

PLEASE READ THESE RULES THOROUGHLY BEFORE POSTING UP YOUR PICKS!

SEE RECENT RULE CHANGE #7 AT THE BOTTOM -- RATIONALE NOW A REQUIREMENT!!!

If you want to be eligible to participate in this week's contest here is what you need to do (REQUIRED!):
Contest Rules (READ THESE AND FOLLOW THEM!):
I will post up the live contest spreadsheet a little after the market closes on Monday with everyone's picks posted, this will include your opening prices, current prices, P&L, & Total ROI for each of your picks, as well as an overall total ROI and an overall average ROI between 2 of your picks, and that will be what we will use to total up both of your 2 picks!
In addition, since we're doing this contest on Reddit, no one will be able to close out their picks during the trading week... Everyone's picks will close at Friday's close! And also everyone's picks will start at Monday's opening prices.
Good luck to everyone in here! Let's see who can deliver the 2 best picks for this week and take bragging rights as the best stock picker of the week here at StockMarket! :)
If you have any questions about anything feel free to fire away on this thread...
Also, for anyone looking around for our past weekly contest threads & results here they are!:
Here was our 2nd weekly contest thread & results on StockMarket:
Here was our 3rd weekly contest thread & results on StockMarket:
Here was our 4th weekly contest thread & results on StockMarket:
Here was our 5th weekly contest thread & results on StockMarket:
And here is our 6th weekly contest thread & results on StockMarket:
Hope to see another great show of participation in here once again this week from everyone here at StockMarket!:)
Again please try to get those 2 picks in before the 9:30am EST market open on Monday! Ready, set, GO!!!
You guys will notice that I am getting a somewhat early start for next week's contest here because of some other priorities I have going on this weekend, so let's try to ramp it up on the participation once again this week! 24 contestants would be the # to beat for a new record high on participation! Let's do it!
Have fun all and GLTA this week! :)
submitted by bigbear0083 to StockMarket [link] [comments]

Trading Ideas Contest (10 - 14 March) - Post your trades and win Gold!

UPDATE: RESULTS!
Thanks again everyone who participated! It was quite an eventful trading week. Hope you all had a chance to make some pips.
Here are the results of the trades I could find that did get executed. I might have left one or two out that I missed - let me know if you have a winning one that I didn't put in!
Trader Day Market Buy/Sell Entry S/L TP Result Profit/Loss Comment
Green_Pips Mon NZD/USD Buy 0.845 0.8395 0.855 Win 100 TP Hit
FXReddit Tues EUAUD Buy 1.5371 Win 88 Closed manually
Phatey Mon GBP/JPY Sell 172.36 173 171 Win 66 Closed manually
FXReddit Tues GBP/AUD Buy 1.8436 Win 44 Closed manually
Asiansupermarket Mon USD/RUB Buy 36.3 37.07 Win 33 Closed manually
FXReddit Tues AUD/USD Sell 0.902 Win 27 Closed manually
3Nelson Mon EUUSD Sell 1.38796 1.3906 1.3819 Win 21 Closed manually
phatey Tues GBP/JPY Sell 171.85 171 172.15 Win 15 Closed manually
Asiansupermarket Mon USD/CAD Buy 1.106 1.116 (Win) (+14) Still open
jadd806 Thurs NZD/CAD Buy 0.9479 0.937 0.9586 (Loss) (-12) Still open
Blades1 Mon EUUSD Sell 1.387 1.3917 1.3787 Loss -18 Closed manually
Ormin Mon AUD/USD Buy 0.8992 0.897 N/A Loss -22 SL
NormanConquest Mon GBP/USD Buy 1.6704 1.6674 1.68 Loss -30 SL
Blades1 Wed EUGBP Sell 0.8332 0.8354 0.8265 Loss -32 SL
NormanConquest Mon EUUSD Buy 1.3879 1.3845 1.395 Loss -34 SL
Phatey Mon USD/JPY Sell 103 103.35 102 Loss -35 SL
ddr4lyfe Mon EUJPY Sell 142.85 143.5 141.55 Loss -65 SL
NormanConquest Tues GBP/JPY Buy 171.15 170.4 Loss -75 SL
Wyatt2000 Tues GBP/USD Buy 1.664 1.6588 1.3724 Loss -76 SL
phatey Thurs GBP/JPY Buy 169.1 168 172.59 Loss -110 SL
And the winner is...
I'd say that Green_Pips's awesome NZD/USD long, bagging him 100 pips in return for risking 50, was the clear winner this week. This one was nice and simple, good R and it ran all the way to the TP - but not before spiking around a lot. And that's what makes it the winner in my books: unlike most of our other winners which were closed manually, Green_Pips held on to his and it eventually hit his full target - the only trade to do so.
Not to say there weren't some other great trades - FXReddit's AUD short trifecta made him plenty of pips, but I didn't want to start a precedent by considering baskets of trades or average performance :P
So well done to Green_Pips and all the other winners, and if you weren't one - there's always next week!
Hey guys, HUGE thanks to everyone who participated in last week's contest and big up to phatey for taking the prize!
Let's see if one of us can knock him off his perch ;)
Rules are the same:
  1. Post as many trades as you like, each in a separate comment. Only trades posted before or at the time of execution obviously. Ideally update your post with how the trade turned out.
  2. Entry levels, stops and targets need to be provided, as well as any specifics about how you plan to manage the trade. Charts and reasons for the trade are optional but definitely appreciated - we're all here to learn
  3. Trades will be judged on technical "goodness", risk management, as well as any reasoning you provide.
  4. Trades still open at Friday's close will be considered closed at that point.
  5. No touching of the hair and face
So let's hear your trade ideas. If you've got one, take it out and put it on the table.
Best of luck to us all!
submitted by NormanConquest to Forex [link] [comments]

r/StockMarket Stock Picking Challenge for the week of (9/12 - 9/16)

OK, so a couple of things in here folks ... I have some bad news and some goods news to share in here -- first the bad news: I want to apologize to the few of you who had submitted picks in here over the past 24hrs ... somehow someway I literally deleted the original contest thread this morning! Lol ... and no i was not hungover from partying the night before! :P
Unfortunately, there is no way for me to resurrect that thread ... it's a goner ... finito ... done!
That being said I do have some good news here: since only about 7 of you had posted picks in the original thread not much was lost, and I was even able to save an archive of the thread last night just before I made this blunder this morning so I have saved all 7 of your guys picks. I will post up those picks just as soon as I have this thread setup first...
But anyway, as promised to all of you who participated on our 1st contest here 2 weeks ago, here we are with our 2nd ever weekly stock picking challenge here on StockMarket! :)
So without further ado, let's get right into the contest rules!

StockMarket Stock Picking Challenge for the week of (9/12 - 9/16)

PLEASE READ THESE RULES THOROUGHLY BEFORE POSTING UP YOUR PICKS!
If you want to be eligible to participate in this week's contest here is what you need to do (REQUIRED!):
Contest Rules (READ THESE AND FOLLOW THEM!):
I will post up the live contest spreadsheet a little after the market closes on Monday with everyone's picks posted, this will include your opening prices, current prices, P&L, and ROI for each of your picks, as well as an overall average ROI between 2 of your picks, and that will be what we will use to total up both of your 2 picks!
In addition, since we're doing this contest on Reddit, no one will be able to close out their picks during the trading week... Everyone's picks will close at Friday's close!
Good luck to everyone in here! Let's see who can deliver the 2 best picks for this week and take bragging rights as the best stock picker of the week here at StockMarket! :)
If you have any questions about anything feel free to fire away...
Also, for anyone looking around for our inaugural contest thread & results here they are:
Hope to see another great show of participation in here once again from everyone here at StockMarket this week! :)

NOTE: We will be needing at minimum 20 PARTICIPANTS to get this contest up and running!

(Anything short of 20 contestants and I will have to pass up on running the contest in here this week...)
Please try to get those 2 picks in before the 9:30am EST market open on Monday! Ready, set, GO!!!
Have fun all and GLTA :)
submitted by bigbear0083 to StockMarket [link] [comments]

I made a list of resources for beginners.

Check back often as this is regularly updated.
BLOGS N/A -------------------------------------------------------------------------------------------
https://jkonfx.com/ Technical & fundamental news on currencies. I would advise newer traders not to trade solely on external opinions because that won't cement your own methodology or reasons for trading. Excellent website for if you want an overview of the markets and daily reports. Also includes a trading journal and a lot of media attention.
http://www.stocktradingtogo.com/ A good blog for new traders/ investors. Lot of ‘top 10 lists’ to flick through.
http://www.tradingheroes.com/ This is absolutely amazing! I can't put a value on this! It's one of the best gems of the internet. Podcasts interviewing successful traders, some are notable such as 50pips, Walter Peters & Chris Kapre.
http://www.nobrainertrades.com/ Found this when doing the podcast link below, it's actually really good high quality stuff. Blog based with plenty of educational material.
http://www.chatwithtraders.com A weekly podcast that interviews successful traders. Thank you gumballfrank for this.
http://ftp.traderkingdom.com/ Not had much of a chance to check this out, but first impression are nice!
http://www.forexlive.com Heavily oriented towards fundamentals. Good news portal submitted by WinterTires thanks!
http://www.tradeciety.com/ Heavily visually oriented perfect for beginners! Lots of infographics and info. Submitted by gumballfrank
ONLINE SCHOOLS & LEARNING PORTALS N/A -------------------------------------------------------------------------------
http://www.tradimo.com A superb website dedicated to training people to become better investors traders for free.
http://www.babypips.com One of the best free online schools which tracks your progress and teaches you heaps on information. The forum is the gem, where many people keep trade journals and put up their strategies. Don't copy them but borrowing concepts and ideas is good.
http://www.forexpeacearmy.com/forex-forum/forex-military-school-complete-forex-education-pro-banke Unbelievably thorough! Education on forex trading, literally everything is covered.
http://stockcharts.com/school/doku.php?id=chart_school Very wide ranging resource that focuses mainly on technical analysis.
http://www.investopedia.com This should be a given, but seriously – this place is the Wikipedia of trading/ investing.
http://www.swing-trade-stocks.com/swing-trading-basics.html Actually a really good learning resource that mentions psychology and momentum among other things.
http://thepatternsite.com/Psychology.html Really good information on trading psychology – something that often goes unnoticed with beginners.
http://www.finvids.com/ Cool little website with videos on candle patterns and chart patterns.
http://www.fxacademy.com/ Appears to be a free trading academy. Not tried it personally, but it looks really good. With plenty of videos for visual learners.
ARTICLES OF INTEREST N/A -----------------------------------------------------------------------------
http://www.stocktradingtogo.com/2009/05/14/trading-psychology-stages-investor-emotions/ An article on the ’14 stages of investor emotions’ knowing who you are and what is happening to you can lead you to make more calculated decisions.
http://fourhourworkweek.com/2014/10/15/money-master-the-game/ Tim Ferris, author of The 4 Hour Work Week interviews Tony Robbins to find out the success behind the worlds best investors. Talking about morning routines, peak performance & mastering money!
http://www.tradeciety.com/category/trading-blog/ Best trading & investing blogs and articles as picked by tradeciety.com
http://www.forextradetracker.com/blog/understanding-forex-jargon-a-glossary-for-beginners Forex jargon glossary for beginners. Submitted by gumballfrank
FORUMS N/A -------------------------------------------------------------------------------------------------
http://www.forexpeacearmy.com/ Excellent learning resource, main focus is to help avoid people getting scammed.
http://www.trade2win.com/boards/ Massive forum for beginners to talk to more experienced traders – very active community.
http://www.forexfactory.com/forum.php Much like trade2win but more focused towards forex.
http://forums.babypips.com/ Another forum dedicated to forex traders. You'll find people keeping good strategies here, list them via most views first to find the real gems.
MISCELLANEOUS RESOURCES N/A --------------------------------------------------------------------
http://www.forex-warez.com/Free%20Download/ Every book you could ever want on trading, investing, market psychology, strategies etc.
http://www.forextradetracker.com/ SUPER IMPORTANT This website is paramount to your success, still in development but will provide users with an easy way to document trades. Success is determined by your willingness to follow through with the boring bits so keep this one in your bookmarks.
http://www.hotcandlestick.com/candlestick-pattern-flashcard-game.html Super useful Flashcard game that helps you to remember important candlestick patterns.
http://www.hotcandlestick.com/forex_charts.htm Important candlestick patterns that have appeared on the major currency pairs. Good for a quick overview.
http://www.freeonlinetradingeducation.com/chart-school.html Website offering visual illustration & practical applications of popular candlestick patterns.
http://www.hotcandlestick.com/candles.htm Glossary of candlestick patterns.
http://www.incrediblecharts.com/topic/Technical_Analysis Another resource for learning technical analysis. Not particularly thorough but useful for basic concepts.
http://www.forexschoolonline.com/ Market overviews and trading opportunity videos provided, along with educational videos and the like.
http://www.tradersdna.com/education/ Another trading education site focusing more on forex.
YOUTUBE CHANNELS N/A ------------------------------------------------------
https://www.youtube.com/useJarrattDavisForex Jarratt Davis - plenty of educational videos to help you get your bearings! *Submitted by masudhossain
https://www.youtube.com/useOneStepRemoved Shaun Overton interviews many forex traders to find out why and how they work.
------------------------------------- BELOW ARE PODCASTS FROM TRADING HEROES WEBSITE ----------------------------------------
Podcast Lessons
TTL001 – Pro Trader Interview: Haji Warithu What he attributes his success to, what amount of money you need to start and how to choose an Islamic broker among other stuff.
TTL002 – Full-Time Trader Interview: Jessica Peletier, AKA Rogue Traderette How she lets her partner know there are losses as well as wins. Where she learnt to trade, why CFDs are amazing etc.
TTL003 - Interview with Pro Trader and mentor Chris Lori. His thoughts on backtesting, why being athletic counts, his development and timeline as a trader, how his trading results exploded and what to do if you want to manage funds.
TTL004 – Interview With Pro Trader Adam Jowett The common trait he sees in successful traders, how long it took him to become profitable, the most important trade that made him successful, his favourite books and why they both like Jessica Peletier.
TTL005 Doesn't seem to exist. I'm not joking.
TTL006 – How Colin Jessup Went From Warehouse Worker To Professional Forex Trader And Soon-To-Be Fund Manager A warehouse worker went through his trials and tribulations to be given the offer of managing an $80 million fund. How he started with $800 and no clue what to do, 2 biggest mistakes he sees traders making, how he continues to improve and what has happened to his lifestyle since becoming a full-time trader.
TTL007 – The Inspiring Story Of How Psychologist Walter Peters Quit His Dream Job To Trade Forex Naked For A Living (not what you think) How Walter Peters quit his job to trade forex for a living. This guy trades naked using No indicators
TTL008 – How Lynette Allen Combines Minimalism, Line Charts And Only One Currency Pair To Trade For A Living How Timothy Sykes inspired her, what minimalism is all about and how it's spread to every facet of her life, what her single pair to trade is, what the 2 best traits for successful traders are and plenty more!
TTL009 – How Brian McAboy Leveraged His Engineering Background To Trade And Coach For A Living What plastic bottles have to do with trading, how much money you need to have to be properly funded and go full-time, how much work you have to do and how long it'll take to get there, 2 best traits to have and loads loads more!
TTL010 – How Rafael Veron Taught His Wife To Trade Better Than Fund Managers Can you actually trade from a beach? The use of hypnosis to make him a better trader, the method that works with his psychology, how much you need to get started, how long it took him to become profitable and what he would do differently if he had to start over! plus loads more!
TTL011 – Why (and how) 50 Pips Trades Forex For A Living What does trading have to do with golf? Things you could learn from his students and his opinion on black box systems and fibo retracements.
TTL012 – How A Millionaire’s Intuition Transformed Chris Capre From Yoga Instructor To Professional Forex Trader Personal Favorite I love this guy because he's true and noble. He is philanthropic, offers trading courses that are cheap and really knows what he's talking about. He explains how a 3 second glance can stop you 2nd guessing yourself, how much he made with $3000 in 6 months and plenty more!
TTL013 – Steve From No Brainer Trades And The Only Thing You Need To Remember When Trading What the biggest killer of our accounts is, the cliches that are true, where to find the hidden information amongst many other things.
TTL014 – How Casey Stubbs Went From Computer Geek To Forex Trader His opinion on EAs, why he trades the way he does and the biggest mistakes to avoid!
TTL015 – Trading For A Living Risking Only 8 To 12 Pips Per Trade: Kim Krompass How she was profitable from the start, her strongest trait, her strong opinion on backtesting and demo accounts, how she lost her fortune and info on her 2 most succesful students.
TTL016 – How Custom Programming Can Help Almost Any Trader With Shaun Overton How to know when you're in the forex dream, lots of info on automated systems and his experience with AI.
TTL017 – Bank Dealer Turned Independent Trader Walter Vannelli Shares His Experience His unique style of meditation, why banks win and how you can fight back, his daily routine and how much you needed to trade in the 80's.
TTL018 – How Reynaldo Soriano Makes A Living Trading 1 Hour A Day Why he holds trading contests, why forex is the best market to learn in, how institutions work and why he stopped day trading.
How A South Central Public School Teacher Became A Successful Forex Trader With Greg McLeod How he's turned some traders around in 30 minutes, why you never trade on a monday, the courses he bought, why he teaches outside the classroom and why he sent his kids to learn chinese.
Edit - I've spent about 2 hours making this now. I hope you guys find it useful! I'll continue to update it and may you all find trading success. If you want to help me out spread the link! put it on forums or share it with friends. Good luck to you all and happy trading!
Edit 2 - My brain is fryed... time for a rest.
Edit 3 Once I've categorized this post making it easier to navigate i'll be adding books to read, videos to watch & the traders that will help on your journey to self-sufficiency. Happy trading everybody!
submitted by Dannyboi93 to Trading [link] [comments]

r/StockMarket Weekly Stock Picking Challenge for the Week of (10/31 - 11/4) is now OPEN for picks! *RATIONALE REQUIRED!*

So I just barely managed to get a thread up for this week's challenge ... but honestly I may not be so fortunate in the following weeks to come ... My schedule is going to be getting hella busy in the weeks ahead unfortunately =/ But at least for this upcoming week we will have the challenge running here! So have at it with your stock picks this week StockMarket! ;)

Welcome to the StockMarket Weekly Stock Picking Challenge for the Week of (10/31 - 11/4)

PLEASE READ THESE RULES THOROUGHLY BEFORE POSTING UP YOUR PICKS!

SEE RECENT RULE CHANGE #7 AT THE BOTTOM -- RATIONALE NOW A REQUIREMENT!!!

If you want to be eligible to participate in this week's contest here is what you need to do (REQUIRED!):
  • 1.) Post 2 tickers (ex. AAPL = Apple) but YOU MUST pick 2 not just 1 or else I will not add you to our list of contestants!
  • 2.) Choose either Long or Short for each ticker (Obviously LONG - if you think it will go up ... or SHORT - if you think it will go down this week...)
  • 3.) Both of your picks MUST each be at least $2 at the very minimum!
Contest Rules (READ THESE AND FOLLOW THEM!):
  • 1.) No OTC or Foreign companies.
  • 2.) No Options, Futures, Forex, stuff like that... Equities ONLY that trade on the U.S. Stock Exchange!
  • 3.) If you don't post both the ticker AND the direction (LONG/SHORT) you won't be added to the list of contestants for this week's stock picking challenge!
  • 4.) You cannot duplicate someone's exact play! For example- If someone picks AAPL - Long and BAC - Long first then you can only pick AAPL - Short and BAC - Long or AAPL - Long and BAC - Short <-- you may only duplicate 1 pick but not BOTH! This is a first come, first serve basis here.
  • 5.) Picks absolutely MUST be posted in here before the 9:30AM eastern cash market open on Monday morning!
  • 6.) You are only allowed 1 leveraged ETF. If you choose two, the second of the two does not count and is still up for grabs. If incorrect picks go un-noticed, you risk your position being forfeited! (These are the 2x/3x ETF's)
  • 7.) RATIONALE - You MUST post up a rationale (either technical or fundamental) for both of your picks or you will NOT be entered into this week's contest!
  • 8.) Please DO NOT EDIT your picks!! If you absolutely must choose another pick, please use a separate post and state that you are changing your original pick to something else!
I will post up the live contest spreadsheet a little after the market closes on Monday with everyone's picks posted, this will include your opening prices, current prices, P&L, & Total ROI for each of your picks, as well as an overall total ROI and an overall average ROI between 2 of your picks, and that will be what we will use to total up both of your 2 picks!
In addition, since we're doing this contest on Reddit, no one will be able to close out their picks during the trading week... Everyone's picks will close at Friday's close! And also everyone's picks will start at Monday's opening prices.
Good luck to everyone in here! Let's see who can deliver the 2 best picks for this week and take bragging rights as the best stock picker of the week here at StockMarket! :)
If you have any questions about anything feel free to fire away on this thread...
Also, for anyone looking around for our past weekly contest threads & results here they are!:
Here was our 2nd weekly contest thread & results on StockMarket:
Here was our 3rd weekly contest thread & results on StockMarket:
Here was our 4th weekly contest thread & results on StockMarket:
Here was our 5th weekly contest thread & results on StockMarket:
Here was our 6th weekly contest thread & results on StockMarket:
Here was our 7th weekly contest thread & results on StockMarket:
And here was our 8th weekly contest thread & results on StockMarket:
Hope to see another great show of participation in here once again this week from everyone here at StockMarket! :)
Once again please try to get those 2 picks in before the 9:30am eastern market open on Monday! Ready, set, GO!!!
Have fun y'all and GLTA in upcoming trading week ahead! :)
submitted by bigbear0083 to StockMarket [link] [comments]

Cryptocurrencies explained by AionNext

Are You Ready for the Cryptocurrency Revolution?
An ancient Chinese curse goes something like this: “May you live in interesting times.” When it comes to something as fundamental to human interactions as money, the beginning of the 21st century has been interesting indeed, thanks to a little development called cryptocurrency. Emerging in 2009, Bitcoin was the first contestant in the digital cash realm, but others soon followed, and there is no letup in sight. But what exactly is a cryptocurrency and should you even care? The underlying technology that makes cryptocurrency possible is about to explode onto society in an even bigger way than it already has.
The World Before Bitcoin
To understand how intrinsically Bitcoin differs from the traditional money system requires a quick review of how financial systems operated up until now. The paper cash and metal coins in your pocket are precisely regulated by the government and central banks. This is where cryptocurrencies diverge. They are a decentralized alternative money system that is beholden to no higher authority.
As one might surmise, it is digital in nature and involves no physical manifestation, existing only as lines of secure code on a server somewhere. While not accepted broadly by mainstream retailers yet, digital currencies have already found kindred spirits in those who support an anonymous, secure, transparent money system. And when mainstream currency brokers like AionNext decide to offer online trading of cryptocurrencies, can the tipping point to mass approval be far behind?
The First Cryptocurrency
In 2009, either a single person or group of people going by the name Satoshi Nakamota created and released Bitcoin, the world’s first cryptocurrency. The idea of a currency that operates outside official government control has created a sense of unease among many. In the first years following Bitcoin’s release, countries have scrambled to come up with a way to define the legal status of this upstart currency. China banned its banks from using cryptocurrency. Russia hasn’t made them illegal to possess, but you can’t buy anything in that country unless you use the ruble.
As far as the United States is concerned, Bitcoin and its variants are treated as property for tax purposes, which means capital gains are due when you sell them at a higher value than what you paid. Online traders, especially those already familiar with the Forex market, love the idea of trading an asset that shows some of the upward mobility tech stocks demonstrated in the late 1990s. In fact, AionNext has updated their trading platform to incorporate Bitcoin, Ethereum, and Dogecoin.
Behind the Cryptocurrency Curtain
In the years since Bitcoin’s introduction, the number of different cryptocurrencies has grown to around 1,100, most of which operate on similar or derived technology as the original. An interesting feature of Bitcoin and most others is that they have a built-in limit on how much will be allowed to enter the market. In a sense, this creates a similar arrangement to precious metals, of which there is a finite amount. When Bitcoin hits the number that its creator preordained, that’s it. Investors and traders will still be able to swap the existing supply amongst themselves, but there will be no more.
Regardless, for those interested in trading cryptocurrencies, rest assured that this should have no effect on the ability to trade in this digital asset. Obviously, precious metals are still traded on commodity markets around the globe, even though there is a hard limit on how much of each type exists.
How to Trade Cryptocurrency
It didn’t take leading currency brokers like AionNext long to realize that there was something in the idea of a cryptocurrency that would appeal to online traders, so they adjusted their asset offerings accordingly. What shouldn’t be lost among the rush for profits is that the need for a high-quality platform and ultra-secure brokerage hasn’t magically disappeared. You can lose or gain real money trading cryptocurrencies, just as easily as you lose or gain in the Forex or equity markets. The need remains for a disciplined trading plan that doesn’t risk too much of your money on a single trade. Discipline, perhaps even more than any single trading strategy, will be the difference between those who profit and those who don’t. One AionNext innovation newbies might be interested in are the buy and sell signals generated by market-monitoring robots powered by algorithms that allow them to analyze the market faster and more completely than any human could.
The Bottom Line
It’s easy to sometimes dismiss a new technology as a flash-in-the-pan that will be gone with the next development. And though individual cryptocurrencies may come and go, there’s something about the underlying technology innovations that could trigger a seismic change in how our financial systems operate. The blockchain technology that powers Bitcoin is already under scrutiny by several banks that are curious if it could lead to improvements on their own security measures. Others hypothesize that another result will be an entirely new internet, one that is more secure and less susceptible to hacks or outside manipulation. Stay tuned. It’s getting good now.
submitted by aesonbitcoin to u/aesonbitcoin [link] [comments]

[Just Launched] Options Domination Binary Trading - [Amazing System] - True Risk Free Trades! [New for 2015]

Many brokers or services will market something called “risk free” trades in which a certain number of your first trades you can get your money back should the signals they give you prove to be of bad quality. In most cases there are many regulations that require you to keep investing a certain amount before you can withdraw your “risk free” trades. This is the sign of a bad signal provider that probably makes more money selling their signals then they do actually implementing them themselves.
In our case study of the system we won 5 out of 7 of the trades and pocketed $250 in profit which is a 25% return on a small investment. We were very impressed with these results. At that time we could have elected to withdraw our original $1,000 and essentially be playing with the $250 “on the house”. CLICK HERE TO GET YOUR RISK FREE TRADES NOW!
CLICK HERE TO GET YOUR RISK FREE TRADES NOW!
Using their basic system of signals we were able to accumulate over $10,000 in our account in just 30 days! These are better results then we have gotten with other binary signals costing 10 times the amount of what options domination is charging. For a simple $50 a month you get multiple daily signals, keep in mind they don’t send you 1,000’s of signals a day like most services as they are focusing on the quality of the signal and not just sending you a bunch of garbage signals like many of the other companies do.
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