Author: Gramatik

A Day In Life Of A Forex Trader

FXgram The Ugly Truth About Trading Related Posts 09 June 2024 Being Born Poor Is Not Your Fault Does it have a ‘slap-in-the-face’ effect on you? Then it’s time to take action and… Read More 02 June 2024 Sky-Tide Marketing SkyTide – the official news publication of Gramatik LTD. SkyTide – the… Read More 28 May 2024 Big Short’s Michael Burry bets against S&P 500 and Nasdaq 100 Michael Burry, the hedge fund manager that inspired Martin Lewis’s book The Big Short,… Read More 20 June 2023 UK billionaire Hamish Harding on board missing Titanic submersible UK billionaire Hamish Harding is one of five people on board a missing tourist submersible… Read More A Day In The Life Of A Forex Trader Hi everyone! Today, I’m excited to take you through a typical day in my life as a Forex trader. If you’re new to trading or have had a rocky experience in the past, I hope my story can shed some light on what it’s really like to trade Forex.   Published by FXgram on June 11, 2024 Open a trading account with a Broker right now OPEN Read the Risk Warning before you register Morning Routine: Success Mindset My name is Matt, I’m a professional trader and I have been living in Bali for almost 8 months. If you are a trader or interested in Forex please read this article until the end.   My day starts early at 6 AM. The first thing I do is grab a cup of coffee and check the latest market news. I follow several financial news websites to get a sense of the market sentiment and any overnight developments that might affect my trading strategy.     For instance, on March 1, 2024, I came across news that geopolitical tensions and ongoing robust central bank purchases provided strong foundational support for the gold rally. Central banks, including India’s Reserve Bank, continued to add to their gold reserves. Knowing this, I immediately pulled up the XAU/USD chart to analyze the potential market movements. The chart from that morning showed a consolidation pattern, indicating that traders were waiting for more information before making any major moves.   By 7 AM, I’m at my desk, reviewing these charts and analyzing trends. Here’s what I saw:   Support and Resistance Levels: The chart showed a strong resistance level at $2,055. The contributing factor was a surge in technical buying. Gold broke through several psychological and technical resistance levels, which spurred additional investment from traders covering short positions and those seeking to capitalize on the upward momentum. Candlestick Patterns: I also noticed a series of doji candles forming near the resistance level in previous days. This often precedes a breakout or a reversal, making it a critical point to watch. Simple Moving Averages: The price remained above 50-day, 100-day, and 200-day averages, thus indicating an uptrend, suggesting bullish sentiment in the market. Volume Indicators: There was an increase in trading volume during the Asian trading session, coinciding with the news of the potential interest rate hike. Higher volume often confirms the strength of a price movement, whether it’s up or down. Economic Calendar: A weak ISM manufacturing report in the U.S. could become a crucial trigger but given the unpredictable nature of such events, it was essential to carefully calculate the associated risks. Based on these signals, I anticipated that the market would experience prevailing bullish sentiment. This analysis helped me prepare my trading strategy for the day. Trading Session: The Heart of the Day By 8 AM, I’m ready to start trading. My focus is on XAU/USD. With the news on the growing geopolitical tensions in mind, I placed a few strategic long positions on gold, anticipating a rise in its price.   Risk management is a crucial part of my trading strategy. Before placing any trade, I ensure that I’m not risking more than 1-2% of my total account balance on a single trade. For this example, let’s say I have an account with $30,000. I decided to risk 1% of my account, which is $300. Given the leverage available, I was able to open a long position on XAU/USD. Open a trading account with a Broker right now OPEN Read the Risk Warning before you register Here are the trades I made throughout the day: 1. • Position size: 10 ounces • Entry price: $2,056 per ounce • Exit price: $2,071 per ounce • Profit per ounce: $15 • Total profit: $150 2. • Position size: 5 ounces • Entry price: $2,055 per ounce • Exit price: $2,053 per ounce • Loss per ounce: $2 • Total loss: $10 3. • Position size: 15 ounces • Entry price: $2,058 per ounce • Exit price: $2,072 per ounce • Profit per ounce: $14 • Total profit: $210 4. • Position size: 10 ounces • Entry price: $2,060 per ounce • Exit price: $2,078 per ounce • Profit per ounce: $18 • Total profit: $180 By the end of the day, my trades had yielded a total profit of $530. Here’s the breakdown of the profits and losses: Trade 1: $150 profit Trade 2: $10 loss Trade 3: $210 profit Trade 4: $180 profit Afternoon Routine: Reflect and Plan Ahead Around 2 PM, I take a break to have lunch and clear my mind. Trading can be intense, so it’s essential to step away and recharge. After lunch, I reviewed the trades I had made. The broker I use provides detailed reports and analytics, which help me understand my performance and areas for improvement. This data is invaluable for refining my strategies and becoming a better trader.By 4 PM, I start winding down my trading activities. I close out any remaining positions and review the day’s performance. This is also the time when I plan for the next day, setting up alerts and preparing for potential market movements. Evening Routine: Balancing Work and Life Evenings are my time to relax and unwind. I usually… Continue reading A Day In Life Of A Forex Trader

A Day In The Life Of A Forex Trader

FXgram The Ugly Truth About Trading Related Posts 09 June 2024 Being Born Poor Is Not Your Fault Does it have a ‘slap-in-the-face’ effect on you? Then it’s time to take action and… Read More 02 June 2024 Sky-Tide Marketing SkyTide – the official news publication of Gramatik LTD. SkyTide – the… Read More 28 May 2024 Big Short’s Michael Burry bets against S&P 500 and Nasdaq 100 Michael Burry, the hedge fund manager that inspired Martin Lewis’s book The Big Short,… Read More 20 June 2023 UK billionaire Hamish Harding on board missing Titanic submersible UK billionaire Hamish Harding is one of five people on board a missing tourist submersible… Read More A Day In The Life Of A Forex Trader Hi everyone! Today, I’m excited to take you through a typical day in my life as a Forex trader. If you’re new to trading or have had a rocky experience in the past, I hope my story can shed some light on what it’s really like to trade Forex.   Published by FXgram on June 11, 2024 Open a trading account with a Broker right now OPEN Read the Risk Warning before you register Morning Routine: Success Mindset My name is Matt, I’m a professional trader and I have been living in Bali for almost 8 months. If you are a trader or interested in Forex please read this article until the end.   My day starts early at 6 AM. The first thing I do is grab a cup of coffee and check the latest market news. I follow several financial news websites to get a sense of the market sentiment and any overnight developments that might affect my trading strategy.     For instance, on March 1, 2024, I came across news that geopolitical tensions and ongoing robust central bank purchases provided strong foundational support for the gold rally. Central banks, including India’s Reserve Bank, continued to add to their gold reserves. Knowing this, I immediately pulled up the XAU/USD chart to analyze the potential market movements. The chart from that morning showed a consolidation pattern, indicating that traders were waiting for more information before making any major moves.   By 7 AM, I’m at my desk, reviewing these charts and analyzing trends. Here’s what I saw:   Support and Resistance Levels: The chart showed a strong resistance level at $2,055. The contributing factor was a surge in technical buying. Gold broke through several psychological and technical resistance levels, which spurred additional investment from traders covering short positions and those seeking to capitalize on the upward momentum. Candlestick Patterns: I also noticed a series of doji candles forming near the resistance level in previous days. This often precedes a breakout or a reversal, making it a critical point to watch. Simple Moving Averages: The price remained above 50-day, 100-day, and 200-day averages, thus indicating an uptrend, suggesting bullish sentiment in the market. Volume Indicators: There was an increase in trading volume during the Asian trading session, coinciding with the news of the potential interest rate hike. Higher volume often confirms the strength of a price movement, whether it’s up or down. Economic Calendar: A weak ISM manufacturing report in the U.S. could become a crucial trigger but given the unpredictable nature of such events, it was essential to carefully calculate the associated risks. Based on these signals, I anticipated that the market would experience prevailing bullish sentiment. This analysis helped me prepare my trading strategy for the day. Trading Session: The Heart of the Day By 8 AM, I’m ready to start trading. My focus is on XAU/USD. With the news on the growing geopolitical tensions in mind, I placed a few strategic long positions on gold, anticipating a rise in its price.   Risk management is a crucial part of my trading strategy. Before placing any trade, I ensure that I’m not risking more than 1-2% of my total account balance on a single trade. For this example, let’s say I have an account with $30,000. I decided to risk 1% of my account, which is $300. Given the leverage available, I was able to open a long position on XAU/USD. Open a trading account with a Broker right now OPEN Read the Risk Warning before you register Here are the trades I made throughout the day: 1. • Position size: 10 ounces • Entry price: $2,056 per ounce • Exit price: $2,071 per ounce • Profit per ounce: $15 • Total profit: $150 2. • Position size: 5 ounces • Entry price: $2,055 per ounce • Exit price: $2,053 per ounce • Loss per ounce: $2 • Total loss: $10 3. • Position size: 15 ounces • Entry price: $2,058 per ounce • Exit price: $2,072 per ounce • Profit per ounce: $14 • Total profit: $210 4. • Position size: 10 ounces • Entry price: $2,060 per ounce • Exit price: $2,078 per ounce • Profit per ounce: $18 • Total profit: $180 By the end of the day, my trades had yielded a total profit of $530. Here’s the breakdown of the profits and losses: Trade 1: $150 profit Trade 2: $10 loss Trade 3: $210 profit Trade 4: $180 profit Afternoon Routine: Reflect and Plan Ahead Around 2 PM, I take a break to have lunch and clear my mind. Trading can be intense, so it’s essential to step away and recharge. After lunch, I reviewed the trades I had made. The broker I use provides detailed reports and analytics, which help me understand my performance and areas for improvement. This data is invaluable for refining my strategies and becoming a better trader.By 4 PM, I start winding down my trading activities. I close out any remaining positions and review the day’s performance. This is also the time when I plan for the next day, setting up alerts and preparing for potential market movements. Evening Routine: Balancing Work and Life Evenings are my time to relax and unwind. I usually… Continue reading A Day In The Life Of A Forex Trader

Pepperstone: Nvidia Q1 25 earnings preview – will the Kraken awake?

https://preview.redd.it/ybyodya41d0d1.png?width=900&format=png&auto=webp&s=65f143a855260b9d46e2ca165c58b8f798280f51 Authored by Chris Weston Due to report shortly after market close on 22 May (typically 06:20 AEST / 21:20 UK). “The most important stock in the world” – That was the label given to Nvidia (NVDA) throughout February as we geared up for its highly anticipated Q424 earnings results. Where, at the time, the sheer number of articles written on the stock was incredible – when you are a momentum stock, you need this sort of attention to fuel the beast. Nvidia – story count (Source: Bloomberg) Since March though the hype has settled, and we see reduced news flow. In fact, we’re seeing an increasing number of articles directing traders away from Nvidia and towards other smaller names in the AI-semi space that could potentially see explosive moves. With the momentum in NVDA falling away since Nvidia’s last earnings, and with Nvidia lacking a near-term catalyst, amid some concern of an over-supplied chips market, market players have moved their attention towards quality defensive areas of the equity market and value as an investment factor, with utilities, energy, and materials all seeing strong outperformance of late vs the S&P500. We can also see this lack of momentum in NVDA’s technical set-up and price action, with shares rallying in a $205 range between $947 to $756, and now finding a fair value around $900. Traders remain buyers of pullbacks, where the trigger for long positions seems to be when the shares fall 10% below the 50-day moving average. https://preview.redd.it/yj7d1zof1d0d1.png?width=900&format=png&auto=webp&s=da78d5e07cf496e03c1f7eb9db61642d9c7b0d8a Nvidia may not be the hot topic it was in February, is that about to change? For a short period, absolutely, with the eyes of the trading world falling once again on NVDA’s quarterly earnings. The options market is pricing a -/+8.9% on the first day of trade after earnings (i.e. the 23 May), which if priced correctly, from current levels, could see the stock trade into new all-time highs or see it closer to $820. With a current market capitalization of $2.260t, an 8.9% move would equate to $200b in gained/lost market cap in one day, which would essentially be larger than the market cap of 82 companies in the NAS100. We can also go back over the past 8 quarterly earnings announcements and that Nvidia has seen an average move of 8.5% on the day of reporting, with shares closing higher in 6 of the past 8 quarters. Many will recall the Q424 earnings (reported in February), where the share price closed +16.4% on the day and went on to rally a further 23.4% over the following 11 trading sessions. Earnings pedigree – few do it better Let’s not forget that few companies globally have NVDA’s form at beating analysts’ consensus expectations on earnings-per-share (EPS), revenue, or gross margins. Perhaps the bar is perennially set too low, but NVDA has beaten expectations for revenue for the reporting quarter, as well as on expectations for the upcoming quarter, on all but two occasions since 2018: Q32019 and Q2 2023 being the exceptions. https://preview.redd.it/qaih2bdn1d0d1.png?width=900&format=png&auto=webp&s=97d65af3f0b9ea8f03a5adb34e8a1b985a391013 In the past 4 quarterly earnings reports, NVDA has beaten guidance on sales for the upcoming quarter by an average of 14% – remarkable form, especially when they have a CEO (Jensen Huang) who knows how to hit the sweet spot and say exactly what investors want to hear in the post-earnings conference call. Earnings expectations for Q1 2025 – will they beat yet again? Q125 EPS – $5.51 (Q2 25 guidance expectations – $5.96c) Q125 revenue – $24.58b (Q2 25 guidance expectations – $26.617b) Data centres revenue – $20.903b (Q2 25 expectations – $22.567b) Gross Margins – 77.01% (Q2 25 guidance expectations – 75.61%) Recall in the prior earnings call CEO Jensen Huang suggested AI was at ‘a tipping point, which was a big topic of discussion. Given that NVDA only recently held its GTC conference in March and explored the future across multiple touch points, this time around traders will react on news that isn’t already discounted into the stock – growth opportunities, maintain its monopolistic qualities, levels of capex, and future partnerships. Traders have found opportunities outside of AI-related semi and while many feel Nvidia lacks a near-term catalyst, the element of surprise is always there. The idea of ‘as goes Nvidia, as goes the market’ has dissipated, but it could make a return – and with big movement expected, this is a key event for equity and index CFD traders to have on the radar. Trade Nvidia on Pepperstone’s 24-hour markets and react and trade the earnings as they break submitted by /u/XGramatik [link] [comments]

BABA -3.5% pre-mkt

ALIBABA 4Q REV. 221.87B YUAN, EST. 219.79B YUAN ALIBABA 4Q ADJ EARNINGS PER ADS 10.14 YUAN VS. 10.71 YUAN Y/Y submitted by /u/XGramatik [link] [comments]

Philippines’ central bank greenlights pilot for Peso-backed stablecoin

BSP approves pilot for PHPC, a Peso-backed stablecoin, in collaboration with Coins.ph. Sandbox testing to evaluate PHPC’s real-world performance and impact on local fiat ecosystem. Transition to real-world usage subject to final evaluations and approvals by central bank. The digital currencies landscape in the Philippines is set for a major shift after the country’s central bank, Bangko Sentral ng Pilipinas (BSP), granted approval for the commencement of a pilot program for a Philippine Peso-backed stablecoin (PHPC). BHP’s move signals a progressive step towards exploring the potential of blockchain technology and stablecoins in the nation’s financial ecosystem. Sandbox testing to evaluate PHPC’s viability The primary objective of the pilot program is to assess the real-world performance of the PHPC and its potential impact on the local fiat ecosystem. Under the terms of the pilot, Coins.ph will maintain cash reserves in pesos equivalent to the circulating supply of PHPC within the sandbox environment, ensuring a stable 1:1 pegging of the digital currency to the Philippine peso. BSP’s choice Coins.ph is strategic. Being a licensed crypto service provider in the Philippines, Coins.ph dominates Philippines crypto space, especially after its partnership with Circle in 2023 for USDC remittances in the Philippines. It was the first to add BRC-20-support in the Philippines. The sandbox testing phase is designed to explore various use cases for PHPC, including domestic and cross-border payments, trading with other virtual assets, hedging against market volatility, and providing collateral and liquidity in decentralized finance (DeFi) applications. These trials will provide valuable insights into PHPC’s practicality and effectiveness in facilitating financial transactions and promoting financial inclusion in the Philippines. Transitioning from sandbox to real-world usage While the pilot program marks an important milestone in the development of PHPC, its transition from a sandbox environment to real-world usage is contingent upon the results of the testing phase and final evaluations by the central bank. According to local regulations, the duration of the testing period can range from three to 12 months, depending on the complexity of the project. However, no official deadline has been disclosed for the conclusion of the stablecoin experiment. The current initiative to launch a Peso-backed stablecoin builds upon previous efforts to introduce stablecoins pegged to the Philippine peso, such as the PHX launched by UnionBank in 2019. UnionBank’s PHX, aimed at driving greater financial inclusion, is also redeemable for pesos and implemented on the bank’s i2i platform. The emergence of PHPC and other stablecoin projects reflects the growing recognition of digital currencies as viable tools for enhancing financial services and expanding access to digital payments in the Philippines. The pilot program, conducted within the framework of BSP’s Regulatory Sandbox, will see the collaboration between the central bank and crypto wallet provider Coins.ph. submitted by /u/Lor1al [link] [comments]

The syndicates are taking a break, leaving the crypto market in a state of low liquidity

In what has been a relatively quiet week for the crypto market, most cryptocurrencies witnessed a downward trajectory. While attention continues to be drawn to meme coins, with developers exploring unconventional methods to gain exposure, more established cryptocurrencies that saw significant gains in the previous week faced declines. Bonk, a meme coin built on the Solana blockchain, experienced a drop of nearly 15%, currently trading at $0.00002342. Amidst these fluctuations, Ethereum, the second-largest cryptocurrency, encountered notable challenges compared to its peers, recording a nearly 7% decrease over the week to reach $2,927. The asset’s decline can be partially attributed to an ongoing high-profile lawsuit by software company Consensys, alleging that the SEC has been deliberately impeding participants in the Ethereum ecosystem. Nevertheless, there are indications of potential improvement as funds flowed into Bitcoin-based Traditional Finance (TradFi) products for three consecutive days this week. However, experts caution that it may take time for Bitcoin to reclaim its all-time high, with the ultimate outcome likely influenced by the actions of the U.S. central bank. Recent options data from Binance has revealed a concentration of open interest in bitcoin options at a strike price of $75,000 for the end-of-June expiry, according to market analyst Ruslan Lienkha. Lienkha noted that this concentration of open interest corresponds with Bitcoin’s historical peak. In mid-March, bitcoin reached a peak value of over $73,000. Against the backdrop of a growing market, lovers of all sorts of analysis are looking for more and more new assets that, in their opinion, show the strongest correlation with Bitcoin. The last time I came across an article about the correlation between BTC and NVIDIA was in March. To my opinion, there’s only one correlation to be found here, and I have a term for it – the expanding bubble. Crypto, AI – what’s the difference. But fear not – strategists at Citi said AI is the bubble but could last into 2025, according to Investing.com submitted by /u/FXgram_ [link] [comments]

A new chance for Argentina’s economy?

IMF approves President Javier Milay’s shock therapy for Argentina’s economy, will soon approve new $800 million tranche I honestly don’t really follow the economic and political situation in Argentina, but maybe there are people here who are interested in this country. So, two questions: 1) Do you think Argentina has a chance to improve its financial situation? (interest rates have already decreased in several times there) 2) How do you feel about shock therapy in the economy, how effective is it? submitted by /u/dll_crypto [link] [comments]