Due to popular demand I've decided to bring this series back for a week 2 and I'll continue to release 3-5 trading ideas every Saturday. How do you guys feel about the name of this series? Would you like me to change the name to something like "Setup Saturdays" or are you guys cool with the current naming scheme?submitted by AD3133 to Forex [link] [comments]
So this week I wanted to be a lot more in depth in my analysis and setups since I didn't think I was super clear last week with my reasoning on some the setups. I want these posts to be as beginner friendly as possible because there's a lot more beginners in this Subreddit than I had realized. I want you to use this as an educational tool and not as a signal service as a result I'm going to give you possible trade setups and I want you to be the judge of whether you should enter once/if price gets to that point since I feel like that will benefit beginners in the long run. I got a couple questions about top down time frame analysis so that'll be a focus of today's post. Scroll down to NZDJPY if you really want an in-depth look at how I perform top down time frame analysis.
I'll include a picture of a chart and my TradingView chart so if you want to zoom in and out of the chart you'll have that ability to do so.
Quick Disclaimer: Some of the charts pricing might be off by a bit since I started working on this during the New York session on Friday. If any of the charts are impacted in a way that alters the setup I'll be sure to update the charts before I post this on Saturday. Just gotta hope that hope that Powell doesn't break the market or else I might have to redo this entire post.
TradingView Link For Daily: https://www.tradingview.com/chart/AUDUSD/Wb5K2bS8-AUDUSD-Daily-For-Reddit-Post-6-20-U-AD3133/
Analysis: Which way is the trend pointing? It looks like it's pointing up which we can see with the green trend line but how about we zoom in to the 4 hour char to see if that's actually the case.
Tip: When drawing a trend line, especially on the daily and higher time frames, remember to hit as many wicks as possible since they are relevant and not just some anomaly you can ignore.
AUDUSD 4 Hour
TradingView Link For 4 Hour: https://www.tradingview.com/chart/AUDUSD/aah8294z-AUDUSD-4-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: When we got close to where we are with price and we draw a Fibonacci Retracement from the point where price took off to the point where price peaked we can see that price came down to .5 Fibonacci level where it then started going up again. Coincidence? Possibly. As a result I believe that price could continue higher and it would be justified if it did. However, if we look at the trend lines we can see that price appears to have broke put of of our major trend line (Green) which means that price could fall to the downside if it's actually a breakout. Price then appears like it would then adhere to the new minor trend line (Red). There's also the possibility that this was just a fake breakout and price could go up and adhere to green trend line. I'm going to have a selling bias on this trade since price looks like it double topped at the highs of this year and it looks like we could see price fall. I'm leaning towards the drop of price due to the symmetrical triangle pattern created by the major and minor trend line and looks like price is going to get pushed down which we should get an idea of soon.
Tip: Every time price makes a large move and falls/rises after making a peak/valley always pull out the Fibonacci retracement tool to see if price will bounce from the .382, .5, or .618 levels as they are the most significant levels. This can tell you if you're going to likely get a trend continuation.
AUDUSD 1 Hour
TradingView Link For 1 Hour: https://www.tradingview.com/chart/AUDUSD/IHgrnfYs-AUDUSD-1-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: I drew out multiple different scenarios which I think can play out since like I said before we're not trying to predict a single movement but we're preparing to be reactive to an ideal condition which may be thrown at us. Remember that major trend line we drew in on the daily chart well it's going to play a large role here. This trend line has been in the making since March so we're not just going to brush it off. The trend line appears to have been broken and we seem to be sticking that minor trend line after the break of the symmetrical triangle pattern. After the break of the symmetrical triangle pattern price usually gets pushed heavily to one side and it looks like price is wanting to get pushed to the downside. As a result, I'm going to really keep on eyes on scenario the blue arrows display since I think it's the most probable. Looking at the scenario there are going to be two potentially good entry points for a sell. The first being when price goes up to retest the green trend line which would also serve as a bounce from our red trend line. Once we get that bounce we could enter in for a sell with a take profit hopefully somewhere around the .66 area. Another good entry would be when price breaks the zone of support of .68 and after it retests it. Wait for a confirmation candlestick pattern showing price will fall when retesting (i.e. railroad track, bullish engulfment candle, evening star, shooting star, etc.). Look for these candlestick patterns on the 15 minute chart. Once you got the confirmation take the sell and ride price down to the .66 zone. The other scenario that could occur is we could see price go back into the green trend line by breaking the red trend line (Orange Arrows). If this occurs we want to catch the retest bounce of the red trend line and ride price up to the high of the year which is at .702. At that point price could break the resistance at which point we could catch the retest of the zone and ride price up. Or it could go up to .702 create a triple top and fall. If you get a candlestick confirmation saying it'll fall then take a sell at the high of the year.
If there's something I really like in Forex it's definitely got to be harmonic patterns due to their high accuracy. NZDUSD just recently completed one of them and this is a really good indicator of what price is going to do.
TradingView Chart For Daily: https://www.tradingview.com/chart/NZDUSD/zQpHzUcK-NZDUSD-Daily-For-Reddit-Post-6-20-U-AD3133/
Analysis: Yes, we have trend line that says that price is going up however I make exceptions for Harmonic patterns since they are accurate about 80%-90% of the time. The pattern you see above is know as a Bearish Bat Pattern. Like the name says it's an indicator that price is going to go Bearish so although the trend line is going up I'm going to have a bearish bias on this trade.
NZDUSD 4 Hour
TradingView Chart For 4 Hour: https://www.tradingview.com/chart/NZDUSD/C29kpCyO-NZDUSD-4-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: Not really much to add here just tossed on a Fibonacci retracement tool from where price took off to the peak just to check for any potential support from any of the major levels which we don't appear to have. We'll go a lot more in-depth on this pair on the 1 hour chart since that's where things get interesting.
NZDUSD 1 Hour
TradingView Link For 1 Hour: https://www.tradingview.com/chart/NZDUSD/dKJatcM7-NZDUSD-1-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: Looking at price we can see that since June 11th price has been trading in a boxed consolidation range. Again I drew out the possibilities I believe could be ideal for us. Remember that I said Harmonics work 80%-90%. Well that means that they fail 10%-20% of the time which is definitely not something we can neglect. We can see that there's a descending triangle which price is reaching the end of. This means that price is getting ready to move to one direction since big moves always come after consolidation. If it moves to upside wait for price to close above the the spot marked D then you can enter for a buy and ride price up to the .67525 zone where price could break to upside or bounce back down (Orange Arrow). Remember to wait for it to actually close above point D since it could create a triple top and drive price back down. It's the same procedure as AUDUSD here if it makes this move where if it breaks it then catch the retest and if it looks like it's wanting to fall down wait for a confirmation pattern. If it breaks the box to the downside and breaks the support zone then take a sell and ride price down to the trend line at which point you should close the trade as there's a chance price could move against you and it's best to secure profits while you can. Once at the trend line it could bounce and if it does you should be able to ride price up to that .67525 zone (Green Arrow). If price breaks the trend line then wait for the retest and you should be able to ride price down pretty far (Red Arrows). I think you should be able to ride it down to .5918 zone but you'll have to keep your on it.
TradingView Link For Daily: https://www.tradingview.com/chart/EURNZD/jzgmGcRe-EURNZD-Daily-For-Reddit-Post-6-20-U-AD3133/
Analysis: Well we got a pretty clear descending channel and price looks like it's at the top part of the channel currently so we're going to want to look for some optimal selling conditions due to the down trend.
EURNZD 4 Hour
TradingView Link For 4 Hour: https://www.tradingview.com/chart/EURNZD/YzOpvcH7-EURNZD-4-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: Looking at the 4 hour chart we can see that there appears to be a symmetrical triangle coming to it's end meaning price is getting ready to get pushed to a side. I believe it'll break the triangle and fall to the downside so once you see it break it would be a good idea to take a sell and ride price down to that support zone at 1.7187. Price could also briefly break to the upside then bounce off the top of the channel and it does take a trade from the bounce and ride price down to the same support zone. At that point, I'll leave it up to you to determine how you think price will go and what you should be looking for. Consider it to be a little quiz if you want to think of it like that. You've got my charts so use them as a reference since I've already marked some crucial support/resistance zones which we should keep our on for the next couple weeks.
EURNZD 1 Hour
TradingView Link For 1 Hour: https://www.tradingview.com/chart/EURNZD/ICWvgEsg-EURNZD-1-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: There's nothing that special on the one hour chart that I have to point out since I think we pretty much got all the big stuff out of the way on our analysis of the 4 hour chart. Be sure to get a good sell in there since there are two potentially good setups which I've outlined for you. Also be sure to be careful and wait for the bounce of the channel if price goes that way since there's a chance price could break the channel and I don't want you to take a loss because you were impatient.
This pair is going to be really fun since we're going to be looking through a lot of time frames so if you really want to learn about a top down approach to analyzing time frames and trends then pay very close attention to how I break down this trade.
TradingView Link For Monthly: https://www.tradingview.com/chart/NZDJPY/jZh4F2Jv-NZDJPY-Monthly-For-Reddit-Post-6-20-U-AD3133/
Analysis: Yes, we're actually going to be looking at the monthly chart. I bet you guys don't do that very often. Looking at it we can see that price has been following a clear down trend line since late 2014. If you look at the wick of this month's candle you can see that it appears to have touched the trend line meaning we could see a good opportunity to catch a sell since it had just recently bounced off. Let's take a look at lower time frames to see if this continues to be true.
TradingView Link For Weekly: https://www.tradingview.com/chart/NZDJPY/dpvI29BB-NZDJPY-Weekly-For-Reddit-Post-6-20-U-AD3133/
Analysis: When zooming into the weekly we can see that using the wicks of the candles we can actually draw a channel for the low portion that runs pretty much in parallel to the trend line we drew on the monthly chart. We can see that price clearly bounced from the trend line and I think this gives us good reason to believe in the coming weeks we could see the price drop. Also looking at the Bollinger Bands we can see that price also bounced from the top band which also supports a drop of price. Let's go into the daily to see if we can get a better idea.
TradingView Link For Daily: https://www.tradingview.com/chart/NZDJPY/NbWLURkU-NZDJPY-Daily-For-Reddit-Post-6-20-U-AD3133/
Analysis: Looking at the daily time frame we can see that price is currently consolidated and remember big moves always come after consolidation. If you look closely however you can see that price looks like it's about to break the 200 day EMA (Orange line). If it breaks the EMA we could see price drop pretty far at an accelerated rate. Besides those couple observations there's not much else going on with the daily chart.
NZDJPY 4 Hour
TradingView Link For 4 Hour: https://www.tradingview.com/chart/NZDJPY/d1kaogH5-NZDJPY-4-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: Would you look at that, it looks like we got a descending triangle on the 4 hour chart which looks like it's coming to an end. Looking at price it looks like it's wanting to push to the downside. Once you get a break below the lows of the day of June 11th I think it would be a safe bet to take a sell trade and ride it down for 66.825 for this week. If it breaks the 66.825 support zone then I'll definitely take a sell and try to ride price down to the bottom of the channel which we drew on the weekly chart. There's also the possibility that price could take support at any of these support zones and then head back up to test the top of the channel. At which point I'll be looking to get into a sell at the top of the channel but I won't ride price up to the channel since at this current point in time I feel like there's a large amount of risk in that.
NZDJPY 1 Hour
TradingView Link For 1 Hour: https://www.tradingview.com/chart/NZDJPY/83b47mFS-NZDJPY-1-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: Not much more to add here since I think by this point we got the entire story so I'm not going to say much more about the 1 hour chart since I think the analysis for the 4 hour chart also sums this up pretty well.
Well that was a lot of information to go through and I hope you found some value in this since it took me quite a few hours to put this together for you guys. Truth be told, I spent most of Friday working on this so I hope at least one person finds some value in which case I'll consider it a win.
So you guys tired of me yet or do you want me to continue this series for a week 3? It takes a lot of time and effort to put this together so I'll only do it if people want it or else I'll pretty much feel like I wasted my time. I might put together a little lesson on how to use the COT in order to catch some big reversal moves in the market since the COT pretty much tells you what the hedge funds are doing and you also want to trade with the hedge funds and institutions. It'll probably take a couple weeks since I'll have to compile some data together and wait for a setup before putting that out but I'll be working on it. Are there any other things you may want explained? Let me know and I'll try to find setups which contain the topic you may want more details on. I hope you have a great trading week!
Decisions on a PHEIC always involve politics .... West African countries discouraged a declaration in 2014 after they were hit by the largest Ebola virus outbreak on record, mainly because of concern about the economic impact.------------------------
Since 2017, Trump’s travel bans have never been rooted in national security—they’re about discriminating against people of color. They are, without a doubt, rooted in anti-immigrant, white supremacist ideologies. This travel ban is no different.On Feb 03, criticizing Trump for his travel restrictions continues. Chinese foreign ministry spokeswoman Hua Chunying (华春莹), a Peking University professors James Liang (梁建章), New York Times, the Nation, OBSERVER, the Boston Globe, Yahoo, and Daily Kos were saying,
China's delegate took the floor ... and denounced measures by "some countries" that have denied entry to people holding passports issued in Hubei province - at the centre of the outbreak - and to deny visas and cancel flights.Also on Feb 03, China is expected to gradually implement a larger stimulus packages (in total) than a USD $572 billion from 2008. — We'd never find out but my guess is that the fund will probably go to Shanghai clique.
The speed ... pushing through a new diagnostic test shows just how seriously they’re taking the potentially pandemic threat of 2019-nCoV. It’s also a sign that the world is starting to learn how to deal with an onslaught of new pathogens.Also on Feb 04, the Wuhan Institute of Virology and China's Academy of Military Medical Sciences (AMMS, Chief Chen Wei belongs to) have jointly applied to patent the use of Remdesivir. Scientists from both institutes said in a paper published in Nature’s Cell Research that they found both Remdesivir and Chloroquine to be an effective way to inhibit the coronavirus.
As countries are trying to develop their own control strategies, they are looking for evidence of whether the situation in China is getting worse or better. [But] We still don't have very basic information. [since the WHO just entered China] We hope that information will be coming out.On the same day, the CDC reports that the 15th case in the US was confirmed. The patient was a part of group who were under a federal quarantine order at the JBSA-Lackland base because of a recent trip to Hubei Province, China.
Fast! There is no time difference to raise urgently needed materials! Some Overseas Chinese have used their professions in the field of medicine in order to purchase relevant materials Hubei province in short of supply (to send them to China). .... Some Overseas Chinese took advantage of the connection resources, opened green transportation channels through our embassies and consulates abroad, and their related enterprises, and quickly sent large quantities of medical supplies (to China), making this love relay link and cooperation seamless.On Feb 18, Reuters reports that 3M is on the list of firms eligible for China loans to ease coronavirus crisis.
There is no indication from the list that loans offered will necessarily be sought, or that such firms are in any financial need. The Bank of Shanghai told Reuters it will lend 5.5 billion yuan ($786 million) to 57 firms on its list.On Feb 21, Xi Jinping writes a thank-you letter to Bill Gates for his foundation’s support to China regarding COVID-19 outbreak.
.... the WHO said it has repeatedly asked Chinese officials for "disaggregated" data — meaning specific figures broken out from the overall numbers — that could shed light on hospital transmission and help assess the level of risk front-line workers face. "We received disaggregated information at intervals, though not details about health care workers," said Tarik Jasarevic of the WHO. — The comment, in an email on Feb 22 to the Post, was one of the first instances that the WHO had directly addressed shortcomings in China's reporting or handling of the coronavirus crisis.On Feb 27, after missteps, the CDC says its test kit is ready and the US started to expand testing.
Dr. Li Wenliang said in the interview with Caixin media; [in Dec 2019] another doctor (later turned out to be Dr. Ai Fen) examined and tried to treat a patient who exhibited SARS-like symptoms which akin to influenza resistant to conventional treatment methods. And "the family members who took care of her (the patient) that night also had a fever, and her other daughter also had a fever. This is obviously from person to person" Dr. Li said in the interview."------------------------
If China retaliates against the US at this time, it will also announce strategic control over medical products, and ban exports of said products to the US. ... If China declares today that its drugs are for domestic use only, the US will fall into the hell of new coronavirus epidemic.On Mar 05, Shanghai Index has recovered the coronavirus loss almost completely.
To make it clear again on coronavirus: CureVac has not received from the US government or related entities an offer before, during and since the Task Force meeting in the White House on March 2. CureVac rejects all allegations from press.On Mar 16, the fan club of European globalists has published a piece titled, "China and Coronavirus: From Home-Made Disaster to Global Mega-Opportunity." The piece says:
The Chinese method is the only method that has proved successful [in fighting the virus], is a message spread online in China by influencers, including many essentially promoting propaganda. ... it is certainly a message that seems to be resonating with opinion leaders around the world.On the same day, unlike China that had one epicentre, Wuhan city, the US now overtakes China with most cases reporting multiple epicentres simultaneously.
Although optimal dosing and duration of hydroxychloroquine for treatment of COVID-19 are unknown, some U.S. clinicians have reported anecdotally different hydroxychloroquine dosing such as: 400mg BID on day one, then daily for 5 days; 400 mg BID on day one, then 200mg BID for 4 days; 600 mg BID on day one, then 400mg daily on days 2-5.------------------------
|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|
|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.|
|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.|
|How does your company plan on staying competitive with other local exchanges coming out? Any plans on making an app?||The company was started by Mike and Ryan, crypto-enthusiasts who saw problems in the marketplace when dealing in cryptos. They wanted an exchange that had a strong support team, legal visibility, operated somewhere where you could trust your money and had strong security - so in short they built it! We expect really big things for VoS and do indeed intend to be competitive with other exchanges, and yes, that does include building an app - we're currently exploring options in that field but we feel it crucial to take our time in doing that and put security first.|
|Why is it important for bitcoin companies to donate to charities? Or people to donate with cryptocurrency? Just wanna say thanks for being in the btc community and helping it grow and spread it around. Is there a lot of pressure on you now that you got your MSB? Any pressure from banks or government on how to behave?||As for Charity we just feel its the right thing to do, I've always been a strong supporter of charities in my daily life and I brought that forward to VoS and the team agreed it made sense to gather up some funds for the Canadian Cancer Society given that April is their big fundraising month. On a grander scale I think it's important for cryptocurrencies to play a positive role in the world, let people know what we are all about, there is a lot of negative stigma about cryptos, some people say it's just kids "printing money", but it's a lot harder to say that when you're positively changing the world!|
|There's not any more pressure on us now than there was before - in fact I would say the MSB has taken some of the pressure off. We instead hold ourselves to the same laws and scrutiny as any financial institution would have to, and we feel this is best for our users and this sector as a whole. Getting the MSB let us know we had done everything right so far, and being in a new and evolving industry it's not always too clear if you're taking the right steps. The MSB is a checkmark that says "Hey you guys are as legitimate as you say you are" and we'll continue to hold ourselves to what ever rigorous standards we can (even when we don't need too). As far as external entities like Banks and Government - I think they are happy to see we have our MSB, I think it makes them more comfortable with the field in general and more willing to work with us. We recently met with our Member of Provincial Parliament and are setting up meetings with our Member of Parliament, and our Minister of Finance so they can see our operation here! The MPP certainly loved what we've got going!|
|That was a fast reply. Thanks for the response, you guys always been good with customer service :p . And thats great Mike and Ryan stepped up to be the ones to do it, it's a really much needed addition to the Toronto bitcoin scene.||Oh man if Timmies was a payment I don't think Canada would need cryptocurrencies at all! Timbits everywhere! We love Tim Hortons - we usually start our Monday's with group coffee and donuts! So we are never opposed Timmies if you are dropping by for a visit :P (Compliance disclaimer: Timmies is not a valid payment method, just a staple at all Canadian meetings)|
|We also feel the importance of charities, especially with the nature of the bitcoin community always being a giving one. I hope you guys see good results n help the bitcoin image. We want to come visit you guys sometime, do you accept Tim Hortons as payment? :p.|
|The charity that you are donating to, do they accept btc or will you be converting it to fiat?||We'll be convert it to Fiat.|
|Any plans on an Android app?||We are looking into this, no formal timeline, but we're certainly exploring it!|
|It would be great if the volume would increase, can you comment on what is the strategy for getting more costumers?||We are actually making a big push this spring in regards to our volume, including launching a highly competitive affiliates program that expect will grow our volume a great deal.|
|Any chance on improving the charts? (Or being included in bitcoinwisdom)||We're always happy to take feedback on our charts, let us know what you want to see! As for Bitcoinwisdom, we've reached out to them multiple times, and added all the API support they need - just waiting on them to hopefully add us!|
|It currently takes ~3 days to get funds added to the balance, I presume that is mostly for security and because banks suck, are there plans to reduce this waiting time?||We're looking at adding instant online debit transactions, no formal timeline on that yet but we are sure it will be great for our customers!|
|Glad SonOfAragon asked those questions so I don't end up repeating them and thanks for your reply Adam. However can you give us an idea of when you plan to launch the affiliates program/make the big push? If I sign up for an account, I'd probably want to beat the rush.||We're actively working towards our affiliate program and our intention is to have it sometime this spring!|
|As someone who is completely ignorant of all things internet currency. can you please tell me how a beginner would go about getting into investing? (Lets say I have $10k of disposable income currently, would you suggest investing it all in bitcoin?)||Hey Buildingdreams4,|
|That's a pretty hard question to answer, and so I can't give you an official Vault of Satoshi answer but I can give you a personal opinion. So please note this is my two cents and nothing VoS official.|
|Personally I have some experience in day trading and that's the best way to make money in such markets - however that's the kind of situation where you have to take risks, actively watch the market and only ever trade with what you have to lose (not only to avoid loss but also to make sure you are willing to take the level of risk needed to make strong returns.) I'd highly recommend learning about Forex trading before you dive into this.|
|That being said the Bitcoin community still feels strongly that their currency value will rise, subject to merchant adoption, legal/political landscapes and a number of other factors but I can't really comment on that as it is a real challenge to predict; there is also a great deal of merit to a number of altcoins with unique value - but just make sure you research and make informed decisions. Don't take anyone's advice at face value (mine included) research and invest where you feel comfortable.|
|What does vault think about VOS bitcoin atms? What can we do as customers to help you guys make this site better?||As far as what customers can do - simply share the love! Tell your friends about VoS and always feel free to reach out to is with what you want to see on our site.|
|What about a physical location for vault deposits and verifications?||We are currently examining new infrastructure opportunities that would allow us to accept physical deposits in more locations and we hope to have more information about that soon!|
|How does your reporting with with CRA?||As for the CRA reporting I'm not sure what your exact question is, but as a registered business we report to the CRA in a typical fashion.|
|Is there any way to shorten deposit times? I'm super impressed that I can pay you like a bill directly from my bank account, but I'm bummed about how long it takes. If I send money to my vos account on a Thursday, I may not see those funds until Monday or Tuesday. If the exchange is open for trading on weekends, how about processing deposits as well?||Hey Jay.|
|Also, what is done with the confidential info people upload to become verified? is it deleted? if it's kept on file, is access to it restricted to certain employees?||We're currently working on a system that will allow immediate deposits via online debit! No formal time line yet but that will indeed make things much quicker!|
|Keep up the good work! Thank you.||As for confidential information, if you have ever made a financial transaction on our website then we are required by law to keep a copy of that information. We take this responsibility very seriously, this information is encrypted and stored securely and is most certainly restricted access!|
|That's cool! Awesomesauce! I'm looking forward to it! Do you know if it will be limited like QuickBT (.2 BTC) or if there is some kind of daily limit? Also: when trading doge to btc I swear it took me half an hour to figure exactly how many doge I could buy with my btc including the fee. And I did it all wrong. I still have like .00066 btc left in my account which I guess is forfeit to the ether... Is there any way to put a helpful calculator on that page that figures it out for you???||As for your other question, as Xangelo said, we are working on improving the layout of our coin to coin system to make it less complicated. Being one of the first major exchanges to offer any coin to any coin means there is going to have to be some tweaking while we find out what the marketplace likes! But we're always open to feedback!|
|Would you rather fight a horse-sized duck or a hundred duck sized horses? Please elaborate. Feel free to answer individually.||If there is anything that years of video game playing has taught me it's always pick the bigger monster over a ton of little ones! A hundred duck sized horses could quite quickly surround and nip and kick from all angles. Where as I feel that whilst a horse-sized duck would be absolutely terrifying my odds are better as I can always keep it in front of me (and perhaps distract it with breadcrumbs)|
|Also do you guys have any plans to change the buy/sell mechanic? I find its way too easy to accidentally make a buy order when you meant to make a sell order.||As for the buy/sell mechanic it is something we are actively implementing and expect to launch in a couple weeks! Will make it easier to keep that straight!|
|My question: To be honest I've been using CaVirtex.How* would you say yours is better?||We stand by our service as we are sure they do theirs, but at the end of the day it's about what better suits your needs. At the end of the day competition makes the market better for everybody!|
|Specifically, I would like to know what the nature of their cooperation and level of engagement is. Do they provide VoS with the absolute minimum of services as they would with any other business? Are they accommodative to specific VoS needs and requests related to crypto-currency specific challenges? Are they mutually active in developing services and infrastructure to support VoS/crypto-currencies? Are they taking a leading role in facilitating the necessary changes to support this new industry and growing public demand? Are you provided with a liaison to facilitate a closer working relationship?||That being said when we did work with them they were fantastic, very supportive, and loved our business; the local branch went to some great lengths to help with our unique challenges and we certainly hope we can work with them again in the future.|
|Thanks for the reply! I feared as much having read about Cointrader in Vancouver being cut off by BMO in February. If I can follow up, how are your banking needs currently being met?||We're currently actually streamlining our financials and will have more announcements on this soon. New partnerships are opening up doors to new payment methods and currencies and we're excited about that.|
|Are you planning to offer other services with altcoins? or you want to keep it solely as an exchange?||We are exploring services beyond just exchange services - but we have no formal timelines on them yet! We'll be sure to let folks know!|
|Are you operating a full or fractional reserve and how much liquidity do you have available if tomorrow all clients wanted to withdraw all their funds?||We are a full reserve exchange. We do have our holdings divided between our hot and cold wallets and top our hot wallet as it gets low. But we do have all the BTC we claim to and are actively working on a Proof of Solvency tool to verify this to users.|
|Which altcoins do you see as strongest going forward?||Anything that has a unique value proposition and a strong community has the ability to go places but it's pretty hard to gauge these in advanced. We expect great things from the coins we've added/intend to add over the next month, which have all been announced.|
|Good to know Yubikey's available, thanks xangelo. Maybe one of your execs can chime in on the qualifications needed to join your verification team but that has me wondering...if a customer opens an account with VoS, can they still be hired, then close their account of course, or is that an automatic disqualification? By the way I didn't see a careers section on your site, are there plans for that once volume and I guess revenue increase?||Just because you have an account with us, does not mean that you would be barred from applying for a job.|
|Currently we don't have any openings but when we do we'll be posting them to our website and all current positions would be located at our Brantford office.|
|Our verification system was designed by our exec team and our compliance officer and aided by our legal team; and our support staff handle the verifications. (Wasn't sure what you meant by "verification team") as for requirements for any opening, we'll be sure to post them with up coming jobs! Thanks for your inquiry though!|
|Thanks for clearing that up, I appreciate your thoroughness.||Yes sorry, I was just speaking about FinCen to someone else before replying to this. I did mean Fintrac and I've edited the post!|
|I don't want to draw this exchange out too much but what puzzles me is your statement about FinCen compliance. If you're currently not accepting US customers, why would FinCEN compliance even be relevant? Let's say a customer lives in Canada. Wouldn't you simply have to comply with FINTRAC regulations, seeing as that's an a Canadian agency? And one other thing. Does Vos report transaction details to the CRA to meet fiscal obligations?||As for CRA reporting I can not comment on that, however we follow all legal requirements of a financial institution dealing with proper reporting.|
|How does the US IRS deal effect things on your end? did this announcement open the door back up for USD wire transfers?||The IRS statement actually doesn't change to much for us, FinCEN and other entities still consider it as currency - we're still actively looking into US options and moving forward on some with our legal team.|
|Do you see cryptocurrency status changing in Canada as a result of the US ruling? Do you have any indication of the direction that the bureaucrats will take?||We have met with our Member of Provincial Parliament, are meeting with our Member of Parliament and are having a meeting with the Minister of Finance arranged to continue to advocate on behalf of cryptocurrency in Canada.|
|From everything we've been hearing, we're optimistic about Canada's role in the future of Cryptocurrency, people have been very forward thinking and accepting here!|
|Disapointed you're getting ride of the free cash-out by cheque. And do you plan to have some sort of automated EFT withdraw ? you allready have my bank account into. Write now it would seem simpler to move my BTC to cavirtex when I'm ready to make a withdraw to my bank account, as I can do it from the website. What am I missing here ? thanks.||We are rolling out a number of new payment methods shortly that will make withdrawals easier for our clients.|
|Hey guys, thanks for doing this AMA. You were my first exchange, and gave me a warm welcome to the world of Cryptocurrency (free trading through Reddit promo, invited me for Doge cake)||I've actually had the pleasure of talking to some reps from the MintChip program - we kept a careful eye on it but I know that the Mint is selling it off to private enterprise. While it is in a different space from us we are always looking at the evolving landscape of digital money and what can be done to promote that in Canada.|
|I was going to ask about your stance on MintChip, the Canadian government's digital currency program, but I just read they were looking to sell it off! Has there been any interest at Vault of Satoshi about this technology?||While I don't think there is any direct partnership opportunities at this time it is always something on our radar and I think that MintChip was an interesting hardware development and it was great to see a federal institution being so forward thinking!|
|Can you tell us when and if you'll be able to operate as an exchange with USD?||We currently do accept USD, we just can't accept it from US citizens or institutions.|
|That being said we are glad to announce we have identified our US re-entry strategy and are moving forward to launching in a few states first. We have no formal timeline on this yet, but it's a big step in the right direction.|
|Quick question, if in the future I choose to close my account with VOS, will all my info and history also be deleted from your servers?||As per government regulations if you have ever made a financial transaction we are required to keep your information on file for seven years.|
|If you have not made a financial transaction you may email us with a request to delete your information. Please note that the request will be kept on file.|
|Hey guys, Are there plans to incorporate google authenticator? Thanks and keep up the good work!||User we already support Google Authenticator, YubiKey, SMS, and Email for 2FA and will be adding Authy and Gemalto soon!|
|Is your $99 per month Unlimited Plan in USD or CAD? Please state it on your website.||It is currently billed in USD as that's more widely accepted with our international audience.|
|When will Darkcoin, Worldcoin, Mintcoin, Cryptogenic Bullion, and Maxcoin be added?||Those coins will be added in the next few weeks! We're pretty excited about that!|
|Hi there! I have a level 2 VOS account. I'm not really comfortable filling out the form for level 3. Currently I have to use QuickBT or an ATM to get BTC - which sometimes I turn into DOGE. (THANK YOU FOR ADDING BTC<->DOGE! you guys are lifesavers!!)||We're actually working on adding an instant online Interac payment system, still no formal timeline but it's in the works. As for email transfers from BMO, BMO has come out and said they aren't working with businesses that operate in cryptocurrencies and so we can't accept funds from them on anything that would require us to have a BMO account or registration there. But, we can accept Pre-authorized debit and wire transfers from accounts there! Also feel free to email me about any concerns you may have about the level 3 account and I'll see if can't reassure you! ([email protected])|
|Just wondering why there is no support for an Email Transfer from BMO. Or online Interac payment, as that's the only reason I use QuickBT.|
|Would you rather fight a horse-sized duck or a hundred duck sized horse. I prefer horse sized ducks!||What a kamikaze!|
|Don't be so sure.||YES! Take that Angelo! Horsefish!|
|'disabled login' Another word, the exchange is down. I've been trying to login and access my funds for the past 5 hours.||We're back up now!|
|No need to be alarmed though people; this is just a result of VoS being pro-active with patching up the latest SSL security bug (heartbleed).||Ah yes, that is indeed a side-effect of the patch. While our systems weren't directly effected a load balance server hosted by Amazon would have been so to be better safe than sorry we've got them patching it and we are rolling over to new SSL certs! Always better safe than sorry!|
|I can see your exchange being the top exchange in Canada. Great work! I will come up to brantford one day after my exams and bring you guys some timmies, depending on the weather it could be coffee or ice caps, or just let me know ha :)||As for the UI we're currently giving it an overhaul on our internal servers and hope to have more info on that soon!|
|I know it's not much but I just sent 6000 Dogecoins :)||Every bit helps :)|
|Whats the yearly revenue and profit of your company?||Sorry, as a private company we are going to abstain from answering that one - but even if we wanted too, we couldn't; we've only been around for six months so far!|
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