What new forex regulations mean - Newspaper - DAWN.COM

[Business] - CBN rolls out new forex regulation | Vanguard

[Business] - CBN rolls out new forex regulation | Vanguard submitted by AutoNewspaperAdmin to AutoNewspaper [link] [comments]

[Business] - CBN rolls out new forex regulation

[Business] - CBN rolls out new forex regulation submitted by AutoNewsAdmin to VANGUARDauto [link] [comments]

Europe Starts Countdown to New Forex Regulations | Investopedia

Europe Starts Countdown to New Forex Regulations | Investopedia submitted by dialecticwizard to Daytrading [link] [comments]

[Business] - New Zealand regulator sues Hong Kong forex trader for money laundering, terrorism financing law breaches

[Business] - New Zealand regulator sues Hong Kong forex trader for money laundering, terrorism financing law breaches submitted by AutoNewsAdmin to SCMPauto [link] [comments]

[Business] - New Zealand regulator sues Hong Kong forex trader for money laundering, terrorism financing law breaches | South China Morning Post

[Business] - New Zealand regulator sues Hong Kong forex trader for money laundering, terrorism financing law breaches | South China Morning Post submitted by AutoNewspaperAdmin to AutoNewspaper [link] [comments]

OANN: New York state regulator fines Credit Suisse $135 million over forex practices

OANN: New York state regulator fines Credit Suisse $135 million over forex practices submitted by thefeedbot to TheNewsFeed [link] [comments]

Forex news: BTC/USD: Ben Lawsky AMA on bitcoin regulation

Forex news: BTC/USD: Ben Lawsky AMA on bitcoin regulation submitted by jacknocks to Bitcoin [link] [comments]

[Business] - China’s forex regulator unveils new channels to attract capital inflows | South China Morning Post

[Business] - China’s forex regulator unveils new channels to attract capital inflows | South China Morning Post submitted by AutoNewspaperAdmin to AutoNewspaper [link] [comments]

[Business] - China’s forex regulator unveils new channels to attract capital inflows

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Barclays fined $150m over forex trading by New York regulator

Barclays fined $150m over forex trading by New York regulator submitted by rotoreuters to betternews [link] [comments]

Former investment bank FX trader: some thoughts

Former investment bank FX trader: some thoughts
Hi guys,
I have been using reddit for years in my personal life (not trading!) and wanted to give something back in an area where i am an expert.
I worked at an investment bank for seven years and joined them as a graduate FX trader so have lots of professional experience, by which i mean I was trained and paid by a big institution to trade on their behalf. This is very different to being a full-time home trader, although that is not to discredit those guys, who can accumulate a good amount of experience/wisdom through self learning.
When I get time I'm going to write a mid-length posts on each topic for you guys along the lines of how i was trained. I guess there would be 15-20 topics in total so about 50-60 posts. Feel free to comment or ask questions.
The first topic is Risk Management and we'll cover it in three parts
Part I
  • Why it matters
  • Position sizing
  • Kelly
  • Using stops sensibly
  • Picking a clear level

Why it matters

The first rule of making money through trading is to ensure you do not lose money. Look at any serious hedge fund’s website and they’ll talk about their first priority being “preservation of investor capital.”
You have to keep it before you grow it.
Strangely, if you look at retail trading websites, for every one article on risk management there are probably fifty on trade selection. This is completely the wrong way around.
The great news is that this stuff is pretty simple and process-driven. Anyone can learn and follow best practices.
Seriously, avoiding mistakes is one of the most important things: there's not some holy grail system for finding winning trades, rather a routine and fairly boring set of processes that ensure that you are profitable, despite having plenty of losing trades alongside the winners.

Capital and position sizing

The first thing you have to know is how much capital you are working with. Let’s say you have $100,000 deposited. This is your maximum trading capital. Your trading capital is not the leveraged amount. It is the amount of money you have deposited and can withdraw or lose.
Position sizing is what ensures that a losing streak does not take you out of the market.
A rule of thumb is that one should risk no more than 2% of one’s account balance on an individual trade and no more than 8% of one’s account balance on a specific theme. We’ll look at why that’s a rule of thumb later. For now let’s just accept those numbers and look at examples.
So we have $100,000 in our account. And we wish to buy EURUSD. We should therefore not be risking more than 2% which $2,000.
We look at a technical chart and decide to leave a stop below the monthly low, which is 55 pips below market. We’ll come back to this in a bit. So what should our position size be?
We go to the calculator page, select Position Size and enter our details. There are many such calculators online - just google "Pip calculator".

https://preview.redd.it/y38zb666e5h51.jpg?width=1200&format=pjpg&auto=webp&s=26e4fe569dc5c1f43ce4c746230c49b138691d14
So the appropriate size is a buy position of 363,636 EURUSD. If it reaches our stop level we know we’ll lose precisely $2,000 or 2% of our capital.
You should be using this calculator (or something similar) on every single trade so that you know your risk.
Now imagine that we have similar bets on EURJPY and EURGBP, which have also broken above moving averages. Clearly this EUR-momentum is a theme. If it works all three bets are likely to pay off. But if it goes wrong we are likely to lose on all three at once. We are going to look at this concept of correlation in more detail later.
The total amount of risk in our portfolio - if all of the trades on this EUR-momentum theme were to hit their stops - should not exceed $8,000 or 8% of total capital. This allows us to go big on themes we like without going bust when the theme does not work.
As we’ll see later, many traders only win on 40-60% of trades. So you have to accept losing trades will be common and ensure you size trades so they cannot ruin you.
Similarly, like poker players, we should risk more on trades we feel confident about and less on trades that seem less compelling. However, this should always be subject to overall position sizing constraints.
For example before you put on each trade you might rate the strength of your conviction in the trade and allocate a position size accordingly:

https://preview.redd.it/q2ea6rgae5h51.png?width=1200&format=png&auto=webp&s=4332cb8d0bbbc3d8db972c1f28e8189105393e5b
To keep yourself disciplined you should try to ensure that no more than one in twenty trades are graded exceptional and allocated 5% of account balance risk. It really should be a rare moment when all the stars align for you.
Notice that the nice thing about dealing in percentages is that it scales. Say you start out with $100,000 but end the year up 50% at $150,000. Now a 1% bet will risk $1,500 rather than $1,000. That makes sense as your capital has grown.
It is extremely common for retail accounts to blow-up by making only 4-5 losing trades because they are leveraged at 50:1 and have taken on far too large a position, relative to their account balance.
Consider that GBPUSD tends to move 1% each day. If you have an account balance of $10k then it would be crazy to take a position of $500k (50:1 leveraged). A 1% move on $500k is $5k.
Two perfectly regular down days in a row — or a single day’s move of 2% — and you will receive a margin call from the broker, have the account closed out, and have lost all your money.
Do not let this happen to you. Use position sizing discipline to protect yourself.

Kelly Criterion

If you’re wondering - why “about 2%” per trade? - that’s a fair question. Why not 0.5% or 10% or any other number?
The Kelly Criterion is a formula that was adapted for use in casinos. If you know the odds of winning and the expected pay-off, it tells you how much you should bet in each round.
This is harder than it sounds. Let’s say you could bet on a weighted coin flip, where it lands on heads 60% of the time and tails 40% of the time. The payout is $2 per $1 bet.
Well, absolutely you should bet. The odds are in your favour. But if you have, say, $100 it is less obvious how much you should bet to avoid ruin.
Say you bet $50, the odds that it could land on tails twice in a row are 16%. You could easily be out after the first two flips.
Equally, betting $1 is not going to maximise your advantage. The odds are 60/40 in your favour so only betting $1 is likely too conservative. The Kelly Criterion is a formula that produces the long-run optimal bet size, given the odds.
Applying the formula to forex trading looks like this:
Position size % = Winning trade % - ( (1- Winning trade %) / Risk-reward ratio
If you have recorded hundreds of trades in your journal - see next chapter - you can calculate what this outputs for you specifically.
If you don't have hundreds of trades then let’s assume some realistic defaults of Winning trade % being 30% and Risk-reward ratio being 3. The 3 implies your TP is 3x the distance of your stop from entry e.g. 300 pips take profit and 100 pips stop loss.
So that’s 0.3 - (1 - 0.3) / 3 = 6.6%.
Hold on a second. 6.6% of your account probably feels like a LOT to risk per trade.This is the main observation people have on Kelly: whilst it may optimise the long-run results it doesn’t take into account the pain of drawdowns. It is better thought of as the rational maximum limit. You needn’t go right up to the limit!
With a 30% winning trade ratio, the odds of you losing on four trades in a row is nearly one in four. That would result in a drawdown of nearly a quarter of your starting account balance. Could you really stomach that and put on the fifth trade, cool as ice? Most of us could not.
Accordingly people tend to reduce the bet size. For example, let’s say you know you would feel emotionally affected by losing 25% of your account.
Well, the simplest way is to divide the Kelly output by four. You have effectively hidden 75% of your account balance from Kelly and it is now optimised to avoid a total wipeout of just the 25% it can see.
This gives 6.6% / 4 = 1.65%. Of course different trading approaches and different risk appetites will provide different optimal bet sizes but as a rule of thumb something between 1-2% is appropriate for the style and risk appetite of most retail traders.
Incidentally be very wary of systems or traders who claim high winning trade % like 80%. Invariably these don’t pass a basic sense-check:
  • How many live trades have you done? Often they’ll have done only a handful of real trades and the rest are simulated backtests, which are overfitted. The model will soon die.
  • What is your risk-reward ratio on each trade? If you have a take profit $3 away and a stop loss $100 away, of course most trades will be winners. You will not be making money, however! In general most traders should trade smaller position sizes and less frequently than they do. If you are going to bias one way or the other, far better to start off too small.

How to use stop losses sensibly

Stop losses have a bad reputation amongst the retail community but are absolutely essential to risk management. No serious discretionary trader can operate without them.
A stop loss is a resting order, left with the broker, to automatically close your position if it reaches a certain price. For a recap on the various order types visit this chapter.
The valid concern with stop losses is that disreputable brokers look for a concentration of stops and then, when the market is close, whipsaw the price through the stop levels so that the clients ‘stop out’ and sell to the broker at a low rate before the market naturally comes back higher. This is referred to as ‘stop hunting’.
This would be extremely immoral behaviour and the way to guard against it is to use a highly reputable top-tier broker in a well regulated region such as the UK.
Why are stop losses so important? Well, there is no other way to manage risk with certainty.
You should always have a pre-determined stop loss before you put on a trade. Not having one is a recipe for disaster: you will find yourself emotionally attached to the trade as it goes against you and it will be extremely hard to cut the loss. This is a well known behavioural bias that we’ll explore in a later chapter.
Learning to take a loss and move on rationally is a key lesson for new traders.
A common mistake is to think of the market as a personal nemesis. The market, of course, is totally impersonal; it doesn’t care whether you make money or not.
Bruce Kovner, founder of the hedge fund Caxton Associates
There is an old saying amongst bank traders which is “losers average losers”.
It is tempting, having bought EURUSD and seeing it go lower, to buy more. Your average price will improve if you keep buying as it goes lower. If it was cheap before it must be a bargain now, right? Wrong.
Where does that end? Always have a pre-determined cut-off point which limits your risk. A level where you know the reason for the trade was proved ‘wrong’ ... and stick to it strictly. If you trade using discretion, use stops.

Picking a clear level

Where you leave your stop loss is key.
Typically traders will leave them at big technical levels such as recent highs or lows. For example if EURUSD is trading at 1.1250 and the recent month’s low is 1.1205 then leaving it just below at 1.1200 seems sensible.

If you were going long, just below the double bottom support zone seems like a sensible area to leave a stop
You want to give it a bit of breathing room as we know support zones often get challenged before the price rallies. This is because lots of traders identify the same zones. You won’t be the only one selling around 1.1200.
The “weak hands” who leave their sell stop order at exactly the level are likely to get taken out as the market tests the support. Those who leave it ten or fifteen pips below the level have more breathing room and will survive a quick test of the level before a resumed run-up.
Your timeframe and trading style clearly play a part. Here’s a candlestick chart (one candle is one day) for GBPUSD.

https://preview.redd.it/moyngdy4f5h51.png?width=1200&format=png&auto=webp&s=91af88da00dd3a09e202880d8029b0ddf04fb802
If you are putting on a trend-following trade you expect to hold for weeks then you need to have a stop loss that can withstand the daily noise. Look at the downtrend on the chart. There were plenty of days in which the price rallied 60 pips or more during the wider downtrend.
So having a really tight stop of, say, 25 pips that gets chopped up in noisy short-term moves is not going to work for this kind of trade. You need to use a wider stop and take a smaller position size, determined by the stop level.
There are several tools you can use to help you estimate what is a safe distance and we’ll look at those in the next section.
There are of course exceptions. For example, if you are doing range-break style trading you might have a really tight stop, set just below the previous range high.

https://preview.redd.it/ygy0tko7f5h51.png?width=1200&format=png&auto=webp&s=34af49da61c911befdc0db26af66f6c313556c81
Clearly then where you set stops will depend on your trading style as well as your holding horizons and the volatility of each instrument.
Here are some guidelines that can help:
  1. Use technical analysis to pick important levels (support, resistance, previous high/lows, moving averages etc.) as these provide clear exit and entry points on a trade.
  2. Ensure that the stop gives your trade enough room to breathe and reflects your timeframe and typical volatility of each pair. See next section.
  3. Always pick your stop level first. Then use a calculator to determine the appropriate lot size for the position, based on the % of your account balance you wish to risk on the trade.
So far we have talked about price-based stops. There is another sort which is more of a fundamental stop, used alongside - not instead of - price stops. If either breaks you’re out.
For example if you stop understanding why a product is going up or down and your fundamental thesis has been confirmed wrong, get out. For example, if you are long because you think the central bank is turning hawkish and AUDUSD is going to play catch up with rates … then you hear dovish noises from the central bank and the bond yields retrace lower and back in line with the currency - close your AUDUSD position. You already know your thesis was wrong. No need to give away more money to the market.

Coming up in part II

EDIT: part II here
Letting stops breathe
When to change a stop
Entering and exiting winning positions
Risk:reward ratios
Risk-adjusted returns

Coming up in part III

Squeezes and other risks
Market positioning
Bet correlation
Crap trades, timeouts and monthly limits

***
Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
submitted by getmrmarket to Forex [link] [comments]

For Canadian Clients of VantageFX (or Canadian Forex Traders in General)

As you likely already know, VantageFX will no longer service Canadians residents as of Nov 30th. This is unfortunate, since VantageFX has done an excellent job serving Canadian clients with higher leverage account options from a well regulated and trusted broker.
Through contacts in the industry, we've been made aware of a new retail account offering at Pacific Union. Pacific Union has a good history of servicing institutional accounts and has only just started taking on retail clients, but they are positioned to service the Canadian clients in the space that VantageFX has left behind.
Further, we were made aware of Pacific Union first by contacts at VantageFX, and then this recommendation was backed up by a trusted source who works closely with both companies.
Again, to be very clear, this post isn't to give undue attention to some random broker.. we are providing this info because Pacific Union is a proper alternative for Canadian based traders that will no longer be serviced by VantageFX.
On that note, I've updated the wiki to include Pacific Union Prime - https://puprime.com:
Subreddit's Canadian Brokers Wiki Page
The only major difference I have noticed so far is lacking MT5, but the word is that Pacific Union will be reviewing MT5 and other enhancements to their offing next quarter after they get past the launch of their retail offering.
Key highlights from my perspective:
Remember, going offshore means you lose CIPF protection on funds, so a well vetted and properly regulated broker is a must!
UPDATE #1: Oct 6th: Took this post off sticky and redacted some info as the connection between VantageFX and Pacific Union Prime was not "official". Pacific Union is still a great alternative / replacement for Canadian clients seeing higher leverage accounts and who are no longer serviced after VantageFX left Canada.
UPDATE #2, Oct 8th: Adjusted this thread again to best reflect where Pacific Union Prime fits with VantageFX and former Canadian VantageFX cleints.
submitted by finance_student to Forex [link] [comments]

Massachusetts Charges BNY Mellon With Forex Fraud - Massachusetts' top securities regulator charged Bank of New York Mellon with fraud for having allegedly overcharged the state's pension fund on currency trades for more than a decade.

Massachusetts Charges BNY Mellon With Forex Fraud - Massachusetts' top securities regulator charged Bank of New York Mellon with fraud for having allegedly overcharged the state's pension fund on currency trades for more than a decade. submitted by yesitsme123 to WTF [link] [comments]

Is it OK to use an unregulated broker?

I am new to forex, but I've been trading crypto a bit. I was using Binance for crypto trading, but right now I want to migrate into euusd.
i don't want to use a regulated company because I reside in a location where the laws suck and they are changing a lot all the time. I am from Russia. So, I am OK with working with an unregulated broker, but I am just not sure about the risks.
What are the risks? And how do you approach this?
submitted by dev_lurve to Forex [link] [comments]

Islamic Accounts in the USA?

Hi all. I'm new to this and I had a question or two for Muslim Forex traders. I'm looking to open an Islamic account for swap free trades that involve 0% interest. Does anyone know websites that offer Islamic Accounts in the USA?
Also I was reading that some websites are not working with the USA due to CFTC regulations. What does that mean, and does this regulation make Forex trading harder? I would love to hear from someone who has been through all this. Thanks everyone!
submitted by Rendo92 to Forex [link] [comments]

Dollar is set back by euphoria. Forecast as of 09.11.2020

Dollar is set back by euphoria. Forecast as of 09.11.2020
Investors continue trading the idea of Joe Biden becoming the president. That is why the S&P 500 features the best weekly rise since April and pushes the EURUSD up. How long will it continue? Let us discuss the Forex outlook and make up a EURUSD trading plan.

Weekly US dollar fundamental analysis

Euphoria rules the market. Investors forgot about both COVID-19, the US fiscal stimulus's unsettled issue, and Donald Trump rejecting the voting results. Traders are satisfied with the less uncertainty around Joe Biden’s policy, hoping for lower volatility. Analysts suggest that the divided Congress won’t allow Biden to carry out radical reforms in tightening taxation and regulation of technology companies. As a result, the S&P 500 grew by 7.3% in the first week of November, and the USD dropped to the lowest level since early September.
How long will the euphoria last? History proves that starting from 2000, if the S&P 500 was growing on election day, it continued growing in November and December. The first years of presidential terms were also favorable for the US stock indexes. The S&P 500 grew by 18.6% on average. However, the stock indexes’ trends during the time of the divided Congress, which prevented the White House from carrying out radical reforms, were controversial. During 45 years, starting from 1928, when one party controlled the US government, the stock market rose at an average rate of 7.46% annually, up from 7.26% in 46 years when the power was divided.

Reaction of S&P 500 to the political situation in USA


Source: Wall Street Journal
In my opinion, the markets are going too fast. Investors want to join the stock market’s uptrend, forgetting about the negative. However, are some negative factors that should have their effect. First, political uncertainty continues. Donald Trump is challenging the election results. Because of the second round of voting in Georgia, we will know the partisan makeup of the U.S. Senate only on January 5. It creates obstacles to the agreement on the new fiscal stimulus. Until a fresh stimulus is provided, the US economy will be slowing down, which presses down both the global GDP and the risk appetite.
Second, the coronavirus vaccines haven’t yet been developed, and the COVID-19 pandemic continues in the USA and in the euro area. The numbers of new coronavirus cases, hospitalizations, and deaths are hitting all-time highs, so investors’ optimism is surprising. The epidemiological situation in Europe is deteriorating. France, Germany, and other countries are locked down. This fact suggests that the divergence in the economic growth and monetary policy is in favor of the EURUSD bears.
Finally, the U.S. dollar may not be falling amid the growth of the S&P 500. The negative correlation between stocks and the USD is the strongest at the time of uncertainty, also because of the US presidential election. Once uncertainty eases, the negative correlation should stop working.

Weekly EURUSD trading plan

Euphoria rules the market, but it can’t last for long. If the EURUSD bulls fail to hold the price above 1.188, the pair should roll down to 1.183 and 1.1785. Otherwise, if the resistance is held up, the euro could continue the rally up to $1.195-$1.196 and even $1.2. Next, large traders should take some profits and exit the longs.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/dollar-is-set-back-by-euphoria-forecast-as-of-09112020/?uid=285861726&cid=62423

submitted by Maxvelgus to Finance_analytics [link] [comments]

Dollar is following its heart. Forecast as of 06.11.2020

Dollar is following its heart. Forecast as of 06.11.2020

Weekly US dollar fundamental analysis

Markets are just like people. They follow their hearts from time to time and forget about common sense. Investors like the idea of the division in the Congress and the Democratic president. In this scenario, the risks of tax hikes and high tech companies' strict regulation are much lower. This fact supports the stock indexes. The S&P 500 has been up by 1% and more during four consecutive trading sessions, which has been for the first time since 1982. In percentage terms, those days have been the best since early April. Markets consider Joe Biden to be a better president than Donald Trump, which allowed the yuan to gain back more than 50% of the losses faced during trade wars. The EURUSD tested the resistance at 1.186-1.187.
The growing chance of Biden’s victory encourages investors to spend the cash, which they have been accumulating ahead of the US presidential election. They are buying stocks and bonds. However, traders forget about other factors, such as the pandemic, uncertainty around the new fiscal stimulus, and Donald Trump’s willingness to reject the voting results. It looks like an attempt to give out desirable for valid. According to TD securities, there should not be any concerns about challenging the voting results, which has pushed the risky assets up and weakened the US dollar. DZ Bank believes that the greenback is falling because the voting results were reported earlier than some had expected. I do not think the above arguments to be strong.
I suppose traders are following their hearts. They invest the capitals in the securities as they worry not to miss the uptrend, which sends the S&P 500 up, fuels global risk appetite, and weakens the US dollar against a basket of currencies.

Dynamics of world's currencies versus the US dollar


Source: Financial Times
How long can it be going on? It depends. People in love are passionate during different periods. However, common sense should win sooner or later. The USA performs better than the euro area at the current stage of the economic cycle. The Fed is not willing to boost the monetary stimulus while the ECB tends to increase the current QE pace. According to Bloomberg’s leading indicators, the largest euro-area economies face a deeper drawdown in the PMIs because of the new lockdowns. The euro-area bond yields fall, which signals that the markets expect the ECB to take active measures in December.

Recovery of the world’s economies


Source: Bloomberg

Yields on the euro-area bonds


Source: Wall Street Journal

Weekly EURUSD trading plan

Let us be sensible during times of euphoria. Although the EURUSD has rebounded from the resistance at 1.186, the shorts entered in the zone seem vulnerable. It will be relevant to hold down the shorts if the pair goes below the support at 1.179. The S&P 500 rally could push the euro up above $1.188. The EURUSD medium-term outlook depends on whether the bulls can hold the price above 1.188.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/dollar-is-following-its-heart-forecast-as-of-06112020/?uid=285861726&cid=62423
submitted by Maxvelgus to Finance_analytics [link] [comments]

The following are the best Forex brokers

  1. XCFD - This brokerage is one of the most trusted in the world. They have been serving investors for years, and they have earned a solid reputation in the industry for their track record of success in helping clients to make profitable trades. XCFD is a member of the Financial Action Task Force.

  1. ALFATRADE - Although ALFATRADE is a relatively new Forex brokerage, being established in 2010, the company has earned the respect of traders on a global scale. Investors can count on a high level of security and safe transactions with this company. They are regulated by the Financial Conduct Authority in the UK.

  1. Ikon Group - The Ikon Group was established in 1995, and since that time they have been one of the fastest-growing brokerages in the world. They have helped thousands of investors with NDF's, CFD's, options and future trades. The brokerage has offices in numerous locations around the world, and they offer exceptional personalized services to meet the needs of their customers.

  1. XTB UK - This Forex brokerage has gained an excellent reputation for their "straight through processing" methods of facilitating trades. Investors come to this brokerage in large numbers, because XTB often has the best spreads in the market as a result of their processing approach. They give investors the opportunity to trade multiple markets simultaneously, and they offer plenty of benefits to keep investors coming back for more.

Other Top Forex Brokerages You Can Count On

> ForexTime

> FxPro

> Markets.com

> Yesoption

> Orbex

> Forexbrokerinc

> GAINSY
submitted by tasay4 to TopForexBrokerage [link] [comments]

Indian sugar industry’s major player Nirani Group projects going forward as a bio-energy company with sugar a by-product

Indian sugar industry’s major player Nirani Group is looking to evolve beyond the traditional sugar business model and expand further as it targets new long-term supply deals for the ethanol, leaving sugar as a by product. The company's Managing Director - Mr. Vijay Nirani told ChiniMandi News in an interview.
Speaking on his assessment on the sugar season in terms of sugar production, exports and profitability he said, “With a very good monsoon this year, Karnataka is set to see a record breaking crushing season this year. The district of Bagalkot itself has forecasted a crushing of 14 million Mt, which is the highest ever. This year is an opportunity to crush with high efficiency and try and make it even with the preceding 3 bad seasons where we had to face huge natural calamities like droughts and flash floods. The high crushing that is forecasted is not all merry, as there will be a huge gap between demand and supply as there is going to excess production of sugar, it is going to be a challenge in itself this year to get a good realisation for sugar.
With speculations from the Government of India, that they may not consider giving subsidy for exports, it will only multiply the challenges in hand. Though mills in the state and the country have a great chance to make up for the accumulated losses in the past, with good availability of quality cane, the millers are all set to exhibit their talents by ensuring high efficiency crushing with maximum value additions, the true crux of profitability lies with the sugar market dynamics, the Govt. has to ensure proper regulation to make sure the mills get a fair share in order to ensure timely and proper payments to farmers who are already in great distress due to continued draught, flash floods and now the spread of this deadly pandemic of COVID-19.
On being asked how he sees the prices of sugar in Karnataka State considering the aftermath of Covid-19 and no announcement of hike in MSP Nirani said, “It is definitely going to be a great challenge to get a proper realisation for sugar though there is an Minimum Selling Price (MSP), if we look at the pretext of MSP being set at ₹3100 is itself not a thorough price, in order to bridge the cost gap between FRP to MSP the MSP has to be revised to ₹3500. Since sugar being an essential commodity there is not going to be a huge drop in consumption by any means at the same time we know there is already carried forward stock from the last season and the production this year is going to be massive by all measures and the consumption of sugar is not going to increase all of a sudden. This is definitely going to directly impact the price, the symptoms have already begun, the rates are already in a downward trajectory.”
Sharing views about the growth prospect in Karnataka state for the sugar industry he shared, “It is definitely going to be value addition and ensuring zero wastage, we need to ensure there is a proper backward and a forward integration for all the mass that is being generated or put into use in the mills.”
“The major advantages that the sugar industries have are yet untapped by many, with just sugar cane as a raw material, we can generate - Sugar, jaggery powder, jaggery cakes, sugar syrup, icing sugar, Electricity, Pulp from Bagasse, furniture from bagasse, biodegradable products from bagasse, CNG and Bio gases, bio fuels, chemicals, ENA, Ethanol the list goes on. The key to sustain is to add value to every product, rather create products of value and not just depend on sugar as a product.” He further added.
Over the couple of years, Nirani Group has been widening its wings in the business of sugar, answering whether there are any further plans on expansion in capacity and beyond Karnataka Nirani said, “We started off about 2 decades ago as the smallest industry in the country with a crushing capacity of 500 mT per day, but now stand tall with a consolidated crushing capacity of 60,000mT with 230 MW of Co-Generation and with allied integration spread across 6 mills. We have understood the weight that the sector carries and envision the thousands of lives that each of our mills have an effect on. We have been turning around sick units in the state, like Kedarnath Sugars and Agro, Badami Sugars Ltd, Pandavapura SSk, Sreerama Sugars SSK, SPR sugars, these were all closed/distressed units that we took over and are being run professionally and successfully, directly helping out all the families that were associated with those mills by means of employment, by crushing farmers cane in time, by creating many unorganised businesses around the campuses and creating revenue for the state and the country.
Coming towards, how we at Nirani Group are taking measures to step up for the Ethanol Blending Programme (EBP); our chairman Shri Murugesh R Nirani ji was one of the pioneers of this EBP programme, he being a close associate in the govt and decision making, had key impact in developing of this scheme. As a group we already have a production capacity of 650 KLPD and are in an advanced stage of expanding the capacities to over 1000 KLPD by December of 2021.
The EBP program has truly been a blessing not just for the health of the sugar industry but also achieves major goals like, reducing crude imports, directly benefiting our FOREX and addressing major ecological crises.
We were one of the first in the state to divert sugarcane juice to Ethanol, during the previous crushing season 19-20, we have produced close to 16 Million litres of Ethanol from Sugarcane juice/Syrup.
Going forward also we have all the plans to divert maximum of sugar into producing Ethanol we estimate a production of close to 96 Million liters of Ethanol purely from Sugarcane juice/syrup, the decision to allow Sugar cane juice/Syrup/B-heavy molasses for Ethanol and giving attractive incentives have been a landmark policy in the country for Sugar Sector.
On being asked, what long term policies should be announced by the Govt. for the sugar industry to develop he said, “The Govt. should first eliminate the EBP hinges, like allowing for OMCs to enter into a 5 year supply contract and bringing in 2nd round of Interest subvention scheme, the GOI has already addressed a big crux, the enhancement of rate for ethanol by 3 odd rupees is an icing on the cake.
The key policy that is thoroughly in need is the revision in MSP to ₹3500 at least, this is no way going to burden the average consumer as shelling out ₹3 to 5 more on sugar is not a huge impact for them, as compared to the benefits that this decision would bring, timely and prompt payments to farmers and sustainability of the mills.
“Also to address the challenge of excess supply of sugar in the country the GOI usually gives export subsidy, which is usually released after a lot of scrutiny and delays, instead they should allow for this excess sugar to be diverted to ethanol so that the cash cycle is quicker and we address the demand that is there for ethanol. This diversion of excess sugar to Ethanol can be considered as deemed export and the same benefit can be given to the sugar mills that adopt this mechanism.
To address the issue of excess production the GOI should increase the radial distance between the plants from the existing 15 Kms to atlest 35 Kms.” Nirani added.
https://storage.googleapis.com/stateless-chinimandi-com/2020/11/8b27b37c-indian-sugar-industry’s.dom\_.eng\_.02.11.2020.08.58.mp3
submitted by chinimandi to u/chinimandi [link] [comments]

Yen places its opponent in check. Analysis as of 04.11.2020

Yen places its opponent in check. Analysis as of 04.11.2020

Monthly fundamental forecast for yen

While the greenback is waiting for the election's final results, trading currency cross rates may be worth considering. The US political landscape will undoubtedly affect most currencies, but the pandemic remains a weightier factor in Forex pricing in the medium and long terms. The strategies based on the divergence in epidemiological situations, economic growth, and monetary policies continue to yield profits. Another confirmation is the realization of the targets at 122.9 and 121.8 set in mid-October for shorts in the EURJPY.
COVID-19 hit Japan less than the eurozone: in terms of Coronavirus cases per 100,000, Japan is one of the countries that tackle the pandemic most efficiently, along with China, Taiwan, and South Korea. The situation in Belgium, Spain, and Italy looks gloomy, on the contrary.

Recession and pandemic


Source: Financial Times.
As a result, Europe is forced to introduce new restrictions, which will cut the eurozone's Q4 GDP by 2.3%, according to Financial Times. Thus, a double recession is certainly in the air. The organization of economic development and cooperation expects that the currency block's economy will reduce 7.9% in 2020, i.e., twice as much as during the previous global crisis. I dare suppose that the second wave may even downgrade those forecasts.
The BoJ expects that the Japanese GDP will fall by 5.5% by the end of the 2020/2021 fiscal year in March. Japan's economic loss doesn't look as significant as the eurozone's since the efficiency of anti-pandemic measures in Asia is higher than in Europe.

GDP dynamics

Source: Financial Times.
Christine Lagarde is sure the ECB will expand a monetary stimulus package in December as the coronavirus is spreading fast across Europe. Haruhiko Kuroda and his colleagues are ready to take action if necessary, but the BoJ's Head has not seen such a necessity so far. Both regulators got caught in a liquidity trap where softer monetary policies do not have any positive effect. Both agree to play currency wars, but the ECB's intentions are manifest, and the euro is therefore falling faster than other G10 currencies.

Monthly trading plan for EURJPY

The situation may seriously change soon: vaccines' development will support the global economic recovery and international trade, which is positive news for the euro. The European countries will lift restrictions, and Christine Lagarde's hints about QE expansion will remain mere hints. According to Governor of the Austrian National Bank Robert Holzmann, there is no point in increasing buy volumes as the inflation won't speed up anyway. Instead, a change in the QE program's structure must be in focus.
This scenario looks too optimistic, though. But why not hope for the best and use the EURJPY's drawdown to 120.65 for long-term buying?
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/yen-places-its-opponent-in-check-analysis-as-of-04112020/?uid=285861726&cid=62423
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Forex Trading in Kenya.

Someone posted on here a few days ago asking about forex and forex trading in Kenya, I have gone through the responses and clearly, most people don’t have an idea. It is 3am in the morning and am in a good mood so let me make this post. This will be a comprehensive and lengthy post so grab a pen and paper and sit down. We’ll be here a while.
FIRST OF ALL, who am I..?
I am a forex trader, in Nairobi, Kenya..i have been actively involved in forex since I found out about it in Feb 2016 when I somehow ended up in a wealth creation seminar (lol) in pride inn Westlands, the one close to Mpaka Rd. Luckily for me, it was not one of those AIM global meetings or I’d be on Facebook selling God knows what those guys sell. I did not take it seriously till August of the same year and I have been active ever since.
I don’t teach, mentor or sell a course or signals, I trade my own money. I am also posting from a throwaway account because I don’t want KRA on my ass.
What the fuck is forex and forex trading.
In simple plain English, forex is like the stock market but for currencies. Stock Market = Shares, forex = currencies. If you want more in-depth explanation, google is your friend.
These currencies are pegged on specific countries, united states- dollar, UK- pound, euro zone- euro, Switzerland- Swiss franc, Kenya- Kenya shilling.. you get the point. Now, there are specific events and happenings between these economies that affect the movement and values of the currencies, driving their value (purchasing power up and down). Forex trading exploits these movements to make money. When the value is going up, we buy and vice versa (down –sell)
Is forex trading illegal in Kenya? Is it a scam?
Illegal, no. scam, no. All the banks in the world do it (KCB made about 4 billion from trading forex in 2019)
Have there been scams involving forex in Kenya?
Yes. Here is one that happened recently. This one is the most infamous one yet. Best believe that this is not the end of these type of scams because the stupidity, greed and gullibility of human beings is unfathomable.
However, by the end of this post, I hope you won’t fall for such silliness.
What next how do I make it work..?
Am glad you asked. Generally, there are two ways to go about it. One, you teach yourself. This is the equivalent of stealing our dad’s car and hoping that the pedal you hit is the brake and not the accelerator. It is the route I took, it is the most rewarding and a huge ego boost when you finally make it on your own. Typically, this involves scouring the internet for hours upon hours going down rabbit holes, thinking you have made it telling all your friends how you will be a millionaire then losing all your money. Some people do not have the stomach for that.
The second route is more practical, structured and smarter.
First Learn the basics. There is a free online forex course at www.babypips.com/learn/forex this is merely an introductory course. Basically it is learning the parts of a car before they let you inside the car.
Second, start building your strategy. By the time you are done with the babypips, you will have a feel of what the forex market is, what interests you, etc. Tip..Babypips has a lot of garbage. It is good for introductory purposes but not good for much else, pick whatever stick to you or jumps at you the first time. Nonsense like indicators should be ignored.
The next step is now the most important. Developing the skill and building your strategy. As a beginner, you want to exhaust your naivety before jumping into the more advanced stuff. Eg can you identify a trend, what is a pair, what is position sizing, what is metatrader 4 and how to operate it, what news is good for a currency, when can I trade, what are the different trading sessions, what is technical analysis, what is market sentiment, what are bullish conditions what is emotion management, how does my psychology affect my trading (more on this later) an I a swing, scalper or day trader etc
Mentors and forex courses.. you have probably seen people advertising how they can teach and mentor you on how to trade forex and charging so much money for it. Somehow it seems that these people are focused on the teaching than the trading. Weird, right..? Truth is trading is hard, teaching not quite. A common saying in the industry is “Those who can’t trade, teach” you want to avoid all these gurus on Facebook and Instagram, some are legit but most are not. Sifting the wheat from the chaff is hard but I did that for you. The info is available online on YouTube, telegram channels etc. am not saying not to spend money on a course, if you find a mentor whose style resonates with you and the course is reasonably priced, please, go ahead and buy..it will cut your learning curve in half. People are different. What worked for me might not work for you.
Here are some nice YouTube channels to watch. These guys are legit..
  1. Sam sieden
  2. Cuebanks
  3. TheCoinFx
  4. The trading channel
  5. Astro
  6. Forex family
  7. Wicksdontlie
Advanced stuff
  1. ICT
After a short period of time, you will be able to sniff out bs teachers with relative ease. You will also discover some of your own and expand the list. Two tips, start with the oldest videos first and whichever of these resonates with you, stick with till the wheels fall off.
How long will it take until things start making sense
Give yourself time to grow and learn. This is all new to you and you are allowed to make mistakes, to fail and discover yourself. Realistically, depending on the effort you put in, you will not start seeing results until after 6 months. Could take longeshorter so there is no guarantee.
Social media, Mentality, Psychology and Books
Online, forex trading might not have the best reputation online because it takes hard work and scammers and gurus give it a bad name. However, try to not get sucked into the Instagram trader lifestyle as it is nowhere close to what the reality is. You will not make millions tomorrow or the day after, you might never even make it in this market. But that is the reality of life. Nothing is promised, nothing is guaranteed.
Your mentality, beliefs and ego will be challenged in this market. You will learn things that will make you blood boil, you will ask yourself daily, how is this possible, why don’t they teach this in school..bla bla bla..it will be hard but growth is painful, if it wasn’t we’d all be billionaires. Take a break, take a walk, drink a glass of whatever you like or roll one..detox. Chill with your girl (or man) Gradually you will develop mental toughness that will set you up for life. Personally, I sorta ditched religion and picked up stoicism. Whatever works for you.
Psychology, this is unfortunately one of the most neglected aspects of your personal development in this journey. Do you believe in yourself? Can you stand by your convictions when everyone is against you? Can you get up every day uncertain of the future? There will be moments where you will question yourself, am I even doing the right thing? the right way? It is normal and essential for your growth. People who played competitive sports have a natural advantage here. Remember the game is first won in your head then on the pitch.
Books: ironically, books that helped me the most were the mindset books, Think and grow rich, trading for a living, 4 hour work week, the monk who sold his Ferrari..just google mindset and psychology books, most trading books are garbage. Watch and listen to people who have made it in the investing business. Ray Dalio, warren, Bill Ackman and Carl Icahn.
This is turning out to be lengthier than I anticipated so I’ll try to be brief for the remaining parts.
Brokers
You will need to open up an account with a broker. Get a broker who is regulated. Australian ones (IC Market and Pepperstone) are both legit, reliable and regulated. Do your research. I’d avoid local ones because I’ve heard stories of wide spreads and liquidity problems. International brokers have never failed me. There are plenty brokers, there is no one size fits all recommendation. If it ain’t broke..don’t fix it.
Money transfer.
All brokers accept wire transfers, you might need to call your bank to authorize that, avoid Equity bank. Stanchart and Stanbic are alright. Large withdrawals $10k+ you will have to call them prior. Get Skrill and Neteller if you don’t like banks like me, set up a Bitcoin wallet for faster withdrawals, (Payoneer and Paypal are accepted by some brokers, just check with them.)
How much money can I make..?
I hate this question because people have perceived ceilings of income in their minds, eg 1 million ksh is too much to make per month or 10,000ksh is too little. Instead, work backwards. What % return did I make this month/ on this trade. Safaricom made 19.5% last year, if you make 20% you have outperformed them. If you reach of consistency where you can make x% per month on whatever money you have, then there are no limits to how much you can make.
How much money do I need to start with..?
Zero. You have all the resources above, go forth. There are brokers who provide free bonuses and withdraw-able profits. However, to make a fulltime income you will need some serious cash. Generally, 50,000 kes. You can start lower or higher but if you need say 20k to live comfortably and that is a 10% return per month, then you can do the math on how big your account should be. Of course things like compound interest come into play but that is dependent on your skill level. I have seen people do spectacular things with very little funds.
Taxes..?
Talk to a lawyer or an accountant. I am neither.
Family? Friends?
Unfortunately, people will not understand why you spend hundreds of hours watching strangers on the internet so it is best to keep it from them. Eventually you will make it work and they will come to your corner talking about how they always knew you’d make it.
The journey will be lonely, make some trading buddies along the way. You’d be surprised at how easy it is when people are united by their circumstances (and stupidity) I have guys who are my bros from South Africa and Lebanon who I have never met but we came up together and are now homies. Join forums, ask questions and grow. That is the only way to learn. Ideally, a group of 5-10 friends committed to learning and growth is the best model. Pushing each other to grow and discovering together.
Forex is real and you can do amazing things with it. It is not a get rich quick scheme. If you want a quick guaranteed income, get a job.
And now it is 5am, fuck.
This is oversimplified and leaves out many many aspects.
Happy to answer any questions.
submitted by ChaliFlaniwaNairobi to Kenya [link] [comments]

FOREX BEAST TRADING

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Central Bank of Liberia Outlines New Regulations for Forex Bureaus Understanding New ESMA Forex & CFD Trading Regulations ... Forex and Regulation: Good or Bad? - YouTube How to avoid EU Forex trading regulations by ESMA 1st August 2018 Understanding Trading Regulations What the New ESMA Regulations Mean For You ❗❗ US NFA Forex Regulations, Forex Strategy for Maintaining High Leverage New ESMA Regulation and Scalping: How To Go Ahead with Forex & CFD ESMA Forex regulations explained! - YouTube Understanding Worldwide Forex Regulations  Explanation of ...

This self-regulatory body works hard to protect the integrity of the forex market and implements new forex regulations where necessary. Common laws and regulations. Image: Pixabay.com. Each forex broker or platform must have a valid license to operate in the country you live in. If they do not, you could be trading illegally. Each licensed forex dealer or broker must accept periodic reviews ... "The new regulations will help distinguish between three types of brokers: the big brands offering multi-market financial instruments, the forex brokers that are experts in marketing and ... Follow us on Twitter @InvestLawGroup for updates on the New Forex Regulations. ECPs include, acting for its own account, a financial institution, an insurance company, an investment company, a commodity pool run by a registered CPO with greater than $5mm in total assets, an entity with greater than $10mm in total assets, a broker-dealer, an FCM, an individual with greater than $10mm in total ... Forex regulation in the USA. After the United Kingdom, the United States is the 2nd most important sales desk, with 19.5% of the global OTC Foreign Exchange turnover between April 2013 and April 2016. CFDs and spread bets are banned for retail traders in the US, so spot Forex is very popular and tightly regulated. SBP issues clarification on new forex rules. Web Desk On Oct 12, 2020. KARACHI: The State Bank of Pakistan on Sunday issued a clarification about the rules pertaining to foreign currency accounts ... Forex Brokers Regulations Being one of the largest and most liquid markets in the world, the Foreign exchange (FX) market offers countless profitable trading opportunities for traders around the ... BEAC must reconsider its new Forex regulation to save jobs in Gabon, Cameroon, Republic of Congo, Equatorial Guinea, Central African Republic and Chad (By Leoncio Amada Nze) Content provided by Forex Regulations. One of the most important criteria for traders when choosing a Forex broker is the regulatory status of the broker and under which regulatory body the broker is regulated. Unregulated Forex / CFD brokerages are risky places for traders to deposit funds, and traders who do so are likely to find they have no effective remedy to counter losses caused by dishonesty or ... What new forex regulations mean Mohiuddin Aazim Updated 28 May 2018. Facebook Count. Twitter Share Email. Your Name * Recipient Email * 3. After recent amendments in the laws governing foreign ... BEAC must reconsider its new Forex regulation to save jobs in Gabon, Cameroon, Republic of Congo, Equatorial Guinea, Central African Republic and Chad (By Leoncio Amada Nze) Fighting for decent paying jobs in the African energy sector is at the centre of what the African Energy Chamber stands for. Print; Share. Favourite; Copy text; Get source logo; Egalement disponible en Français. We do ...

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Central Bank of Liberia Outlines New Regulations for Forex Bureaus

According to the MiFIR legislative framework, these new regulations can be introduced on a three-monthly basis, with a review for possible extension prior to the end of the current time period ... How much capital do you need to make the same profit pre-ESMA rules? This is a common question traders ask because recently the European Securities Markets A... The number one question Joshua Martinez, of traders agency, receives is which futures broker does he use. Due to current regulations and neither Joshua Marti... Forex Regulations implemented today by ESMA mean that as a small or new trader, it has just become a lot more difficult to make money from trading Forex. New ESMA Regulation and Scalping: How To Go Ahead with your trading strategies? ESMA: New CFD Regulation in Europe - 3 Special Webinars by Admiral Markets, this is session 3, recorded 03rd August ... In the wake of rapidly increasing exchange rates, Nathaniel Patray, the Central Bank of Liberia governor designate, outlined new regulations for forex bureaus at a July 18 meeting with operators ... Stephen Story discusses recent NFA regulations affecting the US Forex market. He discusses forex strategy and the forex systems that are needed to continue trading with success, with high leverage ... Forex and Regulation: Good or Bad? Zoe Fiddes, Currency Analyst comments. PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! What do the regulators do to pr... Recently ESMA the super regulator for Europe issued new regulations that affect most online trading. These regulations went into effect August 1, 2018. They ... In this tutorial, basics about the Forex trading business are given. In this video, I am going to tell you about the understanding of Forex regulation. As yo...

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