Thursday, January 31, 2019

Forex major sentiment (31/1/2019)


Retail forex sentiment typically seen as a contrarian indicator.

Monday, December 24, 2018

Currency Strength Review 2018

Here's a chart of currency strength % change since the start of the year.


More information on currency strength can be found here.

Happy Holidays and Best Wishes for 2019!

Wednesday, November 7, 2018

FXCM Accounts and Trade Copying / Mirroring

European forex / CFD market is going through some hard times currently due to the new ESMA (European Securities and Markets Authority) rules which has increased margin requirements for retail forex and CFD trading, as well as prohibited some types of trading altogether.

One solution to this is to "off-shore", i.e. seek a broker outside the EU, which will take non local clients.

There are some downsides to this: 1) lack of regulation / protection offered by the EU brokers; 2) moving to a different broker often means a different platform.

On the regulation / protection side, well that's up to an individual's choice and risk tolerance.

On the platform side, unless you're using MT4 then likelihood is that your new broker will not support your previous platform. This is certainly the case with FXCM TradingStation / MarketScope platform that I develop for.

One solution to this problem, is to use a cross-platform trade copying / mirroring service, such as "DUPLIKIUM" (https://www.trade-copier.com/). With such a service it is possible to mirror trades from FXCM to an MT4 of other platform from a different broker. This should even work with FXCM demo account, thus it should be possible to continue using FXCM platforms and have the live trades auto-magically mirrored on the other broker's account.

I think such a service has a lot of merit, and certainly is a better option than having to totally change platform, and loosing all of your indicator / strategy setups.

It is even possible to have a scaling factor applied, for instance allowing the use of smaller trade size on one broker, and using increased leverage on the other broker.

I'm sure there are other trade copying / mirroring providers around, DUPLIKIUM just happens to be one that one of my clients mentioned.