How to Start Forex Trading Online from Home - 99BusinessIdeas

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VegasCoin

VegasCoin the Las Vegas Cryptocurrency just like bitcoin, litecoin and most like Auroracoin, but for Las Vegas, Nevada.
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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]

Everything You Always Wanted To Know About Swaps* (*But Were Afraid To Ask)

Hello, dummies
It's your old pal, Fuzzy.
As I'm sure you've all noticed, a lot of the stuff that gets posted here is - to put it delicately - fucking ridiculous. More backwards-ass shit gets posted to wallstreetbets than you'd see on a Westboro Baptist community message board. I mean, I had a look at the daily thread yesterday and..... yeesh. I know, I know. We all make like the divine Laura Dern circa 1992 on the daily and stick our hands deep into this steaming heap of shit to find the nuggets of valuable and/or hilarious information within (thanks for reading, BTW). I agree. I love it just the way it is too. That's what makes WSB great.
What I'm getting at is that a lot of the stuff that gets posted here - notwithstanding it being funny or interesting - is just... wrong. Like, fucking your cousin wrong. And to be clear, I mean the fucking your *first* cousin kinda wrong, before my Southerners in the back get all het up (simmer down, Billy Ray - I know Mabel's twice removed on your grand-sister's side). Truly, I try to let it slide. I do my bit to try and put you on the right path. Most of the time, I sleep easy no matter how badly I've seen someone explain what a bank liquidity crisis is. But out of all of those tens of thousands of misguided, autistic attempts at understanding the world of high finance, one thing gets so consistently - so *emphatically* - fucked up and misunderstood by you retards that last night I felt obligated at the end of a long work day to pull together this edition of Finance with Fuzzy just for you. It's so serious I'm not even going to make a u/pokimane gag. Have you guessed what it is yet? Here's a clue. It's in the title of the post.
That's right, friends. Today in the neighborhood we're going to talk all about hedging in financial markets - spots, swaps, collars, forwards, CDS, synthetic CDOs, all that fun shit. Don't worry; I'm going to explain what all the scary words mean and how they impact your OTM RH positions along the way.
We're going to break it down like this. (1) "What's a hedge, Fuzzy?" (2) Common Hedging Strategies and (3) All About ISDAs and Credit Default Swaps.
Before we begin. For the nerds and JV traders in the back (and anyone else who needs to hear this up front) - I am simplifying these descriptions for the purposes of this post. I am also obviously not going to try and cover every exotic form of hedge under the sun or give a detailed summation of what caused the financial crisis. If you are interested in something specific ask a question, but don't try and impress me with your Investopedia skills or technical points I didn't cover; I will just be forced to flex my years of IRL experience on you in the comments and you'll look like a big dummy.
TL;DR? Fuck you. There is no TL;DR. You've come this far already. What's a few more paragraphs? Put down the Cheetos and try to concentrate for the next 5-7 minutes. You'll learn something, and I promise I'll be gentle.
Ready? Let's get started.
1. The Tao of Risk: Hedging as a Way of Life
The simplest way to characterize what a hedge 'is' is to imagine every action having a binary outcome. One is bad, one is good. Red lines, green lines; uppie, downie. With me so far? Good. A 'hedge' is simply the employment of a strategy to mitigate the effect of your action having the wrong binary outcome. You wanted X, but you got Z! Frowny face. A hedge strategy introduces a third outcome. If you hedged against the possibility of Z happening, then you can wind up with Y instead. Not as good as X, but not as bad as Z. The technical definition I like to give my idiot juniors is as follows:
Utilization of a defensive strategy to mitigate risk, at a fraction of the cost to capital of the risk itself.
Congratulations. You just finished Hedging 101. "But Fuzzy, that's easy! I just sold a naked call against my 95% OTM put! I'm adequately hedged!". Spoiler alert: you're not (although good work on executing a collar, which I describe below). What I'm talking about here is what would be referred to as a 'perfect hedge'; a binary outcome where downside is totally mitigated by a risk management strategy. That's not how it works IRL. Pay attention; this is the tricky part.
You can't take a single position and conclude that you're adequately hedged because risks are fluid, not static. So you need to constantly adjust your position in order to maximize the value of the hedge and insure your position. You also need to consider exposure to more than one category of risk. There are micro (specific exposure) risks, and macro (trend exposure) risks, and both need to factor into the hedge calculus.
That's why, in the real world, the value of hedging depends entirely on the design of the hedging strategy itself. Here, when we say "value" of the hedge, we're not talking about cash money - we're talking about the intrinsic value of the hedge relative to the the risk profile of your underlying exposure. To achieve this, people hedge dynamically. In wallstreetbets terms, this means that as the value of your position changes, you need to change your hedges too. The idea is to efficiently and continuously distribute and rebalance risk across different states and periods, taking value from states in which the marginal cost of the hedge is low and putting it back into states where marginal cost of the hedge is high, until the shadow value of your underlying exposure is equalized across your positions. The punchline, I guess, is that one static position is a hedge in the same way that the finger paintings you make for your wife's boyfriend are art - it's technically correct, but you're only playing yourself by believing it.
Anyway. Obviously doing this as a small potatoes trader is hard but it's worth taking into account. Enough basic shit. So how does this work in markets?
2. A Hedging Taxonomy
The best place to start here is a practical question. What does a business need to hedge against? Think about the specific risk that an individual business faces. These are legion, so I'm just going to list a few of the key ones that apply to most corporates. (1) You have commodity risk for the shit you buy or the shit you use. (2) You have currency risk for the money you borrow. (3) You have rate risk on the debt you carry. (4) You have offtake risk for the shit you sell. Complicated, right? To help address the many and varied ways that shit can go wrong in a sophisticated market, smart operators like yours truly have devised a whole bundle of different instruments which can help you manage the risk. I might write about some of the more complicated ones in a later post if people are interested (CDO/CLOs, strip/stack hedges and bond swaps with option toggles come to mind) but let's stick to the basics for now.
(i) Swaps
A swap is one of the most common forms of hedge instrument, and they're used by pretty much everyone that can afford them. The language is complicated but the concept isn't, so pay attention and you'll be fine. This is the most important part of this section so it'll be the longest one.
Swaps are derivative contracts with two counterparties (before you ask, you can't trade 'em on an exchange - they're OTC instruments only). They're used to exchange one cash flow for another cash flow of equal expected value; doing this allows you to take speculative positions on certain financial prices or to alter the cash flows of existing assets or liabilities within a business. "Wait, Fuzz; slow down! What do you mean sets of cash flows?". Fear not, little autist. Ol' Fuzz has you covered.
The cash flows I'm talking about are referred to in swap-land as 'legs'. One leg is fixed - a set payment that's the same every time it gets paid - and the other is variable - it fluctuates (typically indexed off the price of the underlying risk that you are speculating on / protecting against). You set it up at the start so that they're notionally equal and the two legs net off; so at open, the swap is a zero NPV instrument. Here's where the fun starts. If the price that you based the variable leg of the swap on changes, the value of the swap will shift; the party on the wrong side of the move ponies up via the variable payment. It's a zero sum game.
I'll give you an example using the most vanilla swap around; an interest rate trade. Here's how it works. You borrow money from a bank, and they charge you a rate of interest. You lock the rate up front, because you're smart like that. But then - quelle surprise! - the rate gets better after you borrow. Now you're bagholding to the tune of, I don't know, 5 bps. Doesn't sound like much but on a billion dollar loan that's a lot of money (a classic example of the kind of 'small, deep hole' that's terrible for profits). Now, if you had a swap contract on the rate before you entered the trade, you're set; if the rate goes down, you get a payment under the swap. If it goes up, whatever payment you're making to the bank is netted off by the fact that you're borrowing at a sub-market rate. Win-win! Or, at least, Lose Less / Lose Less. That's the name of the game in hedging.
There are many different kinds of swaps, some of which are pretty exotic; but they're all different variations on the same theme. If your business has exposure to something which fluctuates in price, you trade swaps to hedge against the fluctuation. The valuation of swaps is also super interesting but I guarantee you that 99% of you won't understand it so I'm not going to try and explain it here although I encourage you to google it if you're interested.
Because they're OTC, none of them are filed publicly. Someeeeeetimes you see an ISDA (dsicussed below) but the confirms themselves (the individual swaps) are not filed. You can usually read about the hedging strategy in a 10-K, though. For what it's worth, most modern credit agreements ban speculative hedging. Top tip: This is occasionally something worth checking in credit agreements when you invest in businesses that are debt issuers - being able to do this increases the risk profile significantly and is particularly important in times of economic volatility (ctrl+f "non-speculative" in the credit agreement to be sure).
(ii) Forwards
A forward is a contract made today for the future delivery of an asset at a pre-agreed price. That's it. "But Fuzzy! That sounds just like a futures contract!". I know. Confusing, right? Just like a futures trade, forwards are generally used in commodity or forex land to protect against price fluctuations. The differences between forwards and futures are small but significant. I'm not going to go into super boring detail because I don't think many of you are commodities traders but it is still an important thing to understand even if you're just an RH jockey, so stick with me.
Just like swaps, forwards are OTC contracts - they're not publicly traded. This is distinct from futures, which are traded on exchanges (see The Ballad Of Big Dick Vick for some more color on this). In a forward, no money changes hands until the maturity date of the contract when delivery and receipt are carried out; price and quantity are locked in from day 1. As you now know having read about BDV, futures are marked to market daily, and normally people close them out with synthetic settlement using an inverse position. They're also liquid, and that makes them easier to unwind or close out in case shit goes sideways.
People use forwards when they absolutely have to get rid of the thing they made (or take delivery of the thing they need). If you're a miner, or a farmer, you use this shit to make sure that at the end of the production cycle, you can get rid of the shit you made (and you won't get fucked by someone taking cash settlement over delivery). If you're a buyer, you use them to guarantee that you'll get whatever the shit is that you'll need at a price agreed in advance. Because they're OTC, you can also exactly tailor them to the requirements of your particular circumstances.
These contracts are incredibly byzantine (and there are even crazier synthetic forwards you can see in money markets for the true degenerate fund managers). In my experience, only Texan oilfield magnates, commodities traders, and the weirdo forex crowd fuck with them. I (i) do not own a 10 gallon hat or a novelty size belt buckle (ii) do not wake up in the middle of the night freaking out about the price of pork fat and (iii) love greenbacks too much to care about other countries' monopoly money, so I don't fuck with them.
(iii) Collars
No, not the kind your wife is encouraging you to wear try out to 'spice things up' in the bedroom during quarantine. Collars are actually the hedging strategy most applicable to WSB. Collars deal with options! Hooray!
To execute a basic collar (also called a wrapper by tea-drinking Brits and people from the Antipodes), you buy an out of the money put while simultaneously writing a covered call on the same equity. The put protects your position against price drops and writing the call produces income that offsets the put premium. Doing this limits your tendies (you can only profit up to the strike price of the call) but also writes down your risk. If you screen large volume trades with a VOL/OI of more than 3 or 4x (and they're not bullshit biotech stocks), you can sometimes see these being constructed in real time as hedge funds protect themselves on their shorts.
(3) All About ISDAs, CDS and Synthetic CDOs
You may have heard about the mythical ISDA. Much like an indenture (discussed in my post on $F), it's a magic legal machine that lets you build swaps via trade confirms with a willing counterparty. They are very complicated legal documents and you need to be a true expert to fuck with them. Fortunately, I am, so I do. They're made of two parts; a Master (which is a form agreement that's always the same) and a Schedule (which amends the Master to include your specific terms). They are also the engine behind just about every major credit crunch of the last 10+ years.
First - a brief explainer. An ISDA is a not in and of itself a hedge - it's an umbrella contract that governs the terms of your swaps, which you use to construct your hedge position. You can trade commodities, forex, rates, whatever, all under the same ISDA.
Let me explain. Remember when we talked about swaps? Right. So. You can trade swaps on just about anything. In the late 90s and early 2000s, people had the smart idea of using other people's debt and or credit ratings as the variable leg of swap documentation. These are called credit default swaps. I was actually starting out at a bank during this time and, I gotta tell you, the only thing I can compare people's enthusiasm for this shit to was that moment in your early teens when you discover jerking off. Except, unlike your bathroom bound shame sessions to Mom's Sears catalogue, every single person you know felt that way too; and they're all doing it at once. It was a fiscal circlejerk of epic proportions, and the financial crisis was the inevitable bukkake finish. WSB autism is absolutely no comparison for the enthusiasm people had during this time for lighting each other's money on fire.
Here's how it works. You pick a company. Any company. Maybe even your own! And then you write a swap. In the swap, you define "Credit Event" with respect to that company's debt as the variable leg . And you write in... whatever you want. A ratings downgrade, default under the docs, failure to meet a leverage ratio or FCCR for a certain testing period... whatever. Now, this started out as a hedge position, just like we discussed above. The purest of intentions, of course. But then people realized - if bad shit happens, you make money. And banks... don't like calling in loans or forcing bankruptcies. Can you smell what the moral hazard is cooking?
Enter synthetic CDOs. CDOs are basically pools of asset backed securities that invest in debt (loans or bonds). They've been around for a minute but they got famous in the 2000s because a shitload of them containing subprime mortgage debt went belly up in 2008. This got a lot of publicity because a lot of sad looking rednecks got foreclosed on and were interviewed on CNBC. "OH!", the people cried. "Look at those big bad bankers buying up subprime loans! They caused this!". Wrong answer, America. The debt wasn't the problem. What a lot of people don't realize is that the real meat of the problem was not in regular way CDOs investing in bundles of shit mortgage debts in synthetic CDOs investing in CDS predicated on that debt. They're synthetic because they don't have a stake in the actual underlying debt; just the instruments riding on the coattails. The reason these are so popular (and remain so) is that smart structured attorneys and bankers like your faithful correspondent realized that an even more profitable and efficient way of building high yield products with limited downside was investing in instruments that profit from failure of debt and in instruments that rely on that debt and then hedging that exposure with other CDS instruments in paired trades, and on and on up the chain. The problem with doing this was that everyone wound up exposed to everybody else's books as a result, and when one went tits up, everybody did. Hence, recession, Basel III, etc. Thanks, Obama.
Heavy investment in CDS can also have a warping effect on the price of debt (something else that happened during the pre-financial crisis years and is starting to happen again now). This happens in three different ways. (1) Investors who previously were long on the debt hedge their position by selling CDS protection on the underlying, putting downward pressure on the debt price. (2) Investors who previously shorted the debt switch to buying CDS protection because the relatively illiquid debt (partic. when its a bond) trades at a discount below par compared to the CDS. The resulting reduction in short selling puts upward pressure on the bond price. (3) The delta in price and actual value of the debt tempts some investors to become NBTs (neg basis traders) who long the debt and purchase CDS protection. If traders can't take leverage, nothing happens to the price of the debt. If basis traders can take leverage (which is nearly always the case because they're holding a hedged position), they can push up or depress the debt price, goosing swap premiums etc. Anyway. Enough technical details.
I could keep going. This is a fascinating topic that is very poorly understood and explained, mainly because the people that caused it all still work on the street and use the same tactics today (it's also terribly taught at business schools because none of the teachers were actually around to see how this played out live). But it relates to the topic of today's lesson, so I thought I'd include it here.
Work depending, I'll be back next week with a covenant breakdown. Most upvoted ticker gets the post.
*EDIT 1\* In a total blowout, $PLAY won. So it's D&B time next week. Post will drop Monday at market open.
submitted by fuzzyblankeet to wallstreetbets [link] [comments]

KFC6855/环球潮鞋: The Secrets of Replica Sneaker Selling

KFC6855/环球潮鞋: The Secrets of Replica Sneaker Selling
Following a post from u/donjonne about a HUGE Weibo story on how to actually start your own 1:1 repsneaker empire, I figured as a native Mandarin speaker I gave it a shot and translated the entire article, since I myself am pretty damn intrigued what the guy's speaking.Do note this article is written in March 2017, lots of stuff may have been outdated, and I translated word-for-word with some pruned paragraphs that seems like the fella repeating himself. I absolutely hate the weird flowery prose Mandarin always carry when I work on translations, so apologies if the in-jokes or general writing gets a bit dry.
This is my personal tl;dr without the author's boastful claims, so if you're short on time, here's the quick rundown.

How do replica sneakers get sold?

Taobao: Long history with the reputation for being the single biggest online BST hub, with Tmall and Xianyu Second-hands integrated. Lots of fake reviews and seller reputation ratings. The rep game there got outta hand, CEO of Alibaba stepped in and cleaned house, thus everyone moved to...
WeChat: Lots more convoluted, no proper tracking and confirmation like a real shopping app and build quality can vary greatly between sneaker models from the same seller. But through word-of-mouth, standout resellers get recommended more organically, of course you need connections to start with.
Agents: Your best friend if you're overseas, usually ran by freelancers merely collecting orders, reporting back to resellers and have them directly ship your kicks to your doorstep. Agents can be a single person, or a huge operation i.e. Wegobuy and Ytaopal.

How's the quality tho?

Depends. Some will try to bait-and-switch, some will bond genuine friendships for simply being a return customer. Factories often cut corners to save some dough and end up with a worse rep, so like the purpose of this sub, dig into forums and guide yourself to trustworthy sellers. Author also goes on a tangent and revealed the numbers and figures of selling reps, along with the sheer gold rush he's in now. Read below for more info.

Anything of note?

We're getting ripped off. Real hard, if you're a Mainlander chances are you're being sold 1/3 of the prices we see here. Part of the reason is that the multi-level reselling jacks up the price a lot, so unless you're buying in bulk for the purpose of selling them, good luck finding GET-passable OW AJ1's for less than $70. If you get caught selling, it's fines upwards of ¥50,000 and your license revoked, but nothing too serious beyond that. Author promised more novel shoes get made in the future, like Uggs and non-hypebeast dress shoes or sumthin.

With that outta the way, here's the translation for the whole article, hope you'll learn something for it and if there's any mistakes, feel free to point it out in DMs or just in the comments.
EDIT 17/05/2020: punctuation mistakes and missing formatting, also thanks for the kind words repfam
_______________

GOD'S HAND: The Secrets of Replica Sneaker Selling


Having been in the rep game for around 4 to 5 years, it all started out of sheer curiosity. I spent ¥1099 for Air Force 1's some celebrity wore, only to had my buddy show up on me with a fake pair of the same sneaker only costs ¥300.
Not everyone is some rich parents' spoiled brat where a pair of shoes costing a couple grand is considered pocket change, yet everyone has that sense of envy, the need to follow the hype to really stand out from the crowd, so do I honestly. But then again you'd only wear that pair of grails for only a good couple months and it'll be out of the wave, why not I find myself a more wallet-friendly way to do so?
Ever since dipping my toe into the replica community, I'm making connections, meeting new friends and getting scammed in every step I make, keeping contacts of my favorite sellers (looking back yeah they're not the best and cheapest isn't it huh). I'm deep in the rabbit hole now, buying so many pairs I'm starting to be able to tell batches at a glance, and where to hunt down that very best batch at the cheapest price. At this point it's natural that I'm thinking of selling these reps and becoming a middleman with the best of the batches under one roof (which is what's following below).
Anyone who has dealt with middlemen know that actually tracking down the direct factory outlets are nigh impossible, and the multiple stages of middlemen-ception where bigger but more discreet resellers selling to more minor, smaller middlemen can only make one dream of the sheer profit you can make for being on the very top of the pyramid, that idea has only been a mere blip in my mind. There was once in a bar my fam hollered at me with "Yo you remember that John Doe went to Putian for two years? Dude gave up college and has been filthy stinkin' rich by now!" I was like bah it'll never work out for me, but with the summer break I'd worth giving it a shot and have John Doe on the line. And boy howdy, ain't he wildin' right now with his business.
Some say every Nike you see there's 1/3 chance it's straight outta Putian, some say Nike's LC works by handling a pair of dumb shoes to an uninformed factory worker and have him say "fuck kinda shoes are these, looks cool I guess so it's legit?" The only way is to really tear down the whole sneaker and see the markings in UV, and once we're on the point where we can fake inside tags and its barcodes, ask yourself can call out fakes on feet?
A promotion for \"discount\" NB's on Weibo
Ever seen promos like these?
It's what I saw on Weibo today, and you've seen one like it yourself did you? They all look good on the images and you'd be right that they're photos of the real deal, just that of course the shoes you actually get were reps, and for each pair profits are never above ¥100; I sell ya an NB for ¥165, I'd only make ¥50.

REPLICA SNEAKERS: HOW DO THEY GET SOLD?

TAOBAO
Taobao has always been the single biggest hub for BST. Run by the faceless middlemen, sold by the page visits, and reviewed by the bots. And stores with inflated trust scores were used as a front, once costing hundreds of yuan to buy now go for the tens of thousands. As Taobao is taking action to curb counterfeits to make way for legitimate resellers, these fronts are getting more expensive by the day, since then people took it to WeChat later on.
Ask anyone who ran a Taobao store, and they'd tell you "you'll never make a cent unless you're selling fakes". A pair of (fake) shoes take some ¥100 to make, and can be sold as a legit like the thousands of yuan you see on their listings, you'd get away with dozens of fakes sold this way, where you can properly guage and adjust said price to match your profit margins. Once the rep game got popular and the snowball kept rolling, the problem got too big for Ma Yun to not ignore it and he went full banhammer on every rep seller. With every media outlet roasting Taobao's ass, everyone wises up to the knowledge that almost every sneaker you see could be fakes. The stigma lived on, and no one would touch any store where its place of origin writes "Putian".
When life gives you lemons, you make a whole damn lemonade stand and just circumvent the whole damn thing by appearing that you're not from Putian. Problem solved. As you check your shipping details, it always seems to travel from Shangai, Shenzen, Quanzhou or even goddamn Xiamen of all places, even overseas.

Proxy services are very popular due to China's stringent laws
When sneakers are labeled as being shipped from Hong Kong, of course the sellers gonna say "it's from Hong Kong" but in fact it's shipping from Shenzhen, and the seller's excuse is that the sneakers are going through HK's borders from Shenzen then to the buyer's location. Even if you bought fakes in Tmall however, it won't be as bad as the ones sold as legit retails in Taobao. There's just too many of these rip-offs anyway! Had a reseller came to me to buy 10 pairs of sneakers, I make ¥10 each pair, but he sold it as retails and went on to make ¥500 each. Of course I'd panicked a jacked a prices a bit so I could have my own slice of extra profit to ¥20 each pair, said the factories jacked the prices themselves as an excuse.
Hoe's mad I guess

WECHAT
While profit margins are no higher than Taobao, they still range around a dozen yuan on bulk. For all the actual friends I have in WeChat, I'd never believe them not having owned a replica sneaker in their whole life, blah blah blah "factory direct", "wholesale prices" my ass, who really can head to the factories and buy direct these days? Rep resellers buying bulk from those factories are truly the "direct from factory" purchases. Resellers then selling the reps to middlemen and agents, that's another step. Said middlemen then resell these reps to quote-on-quote "middlemen". (NB: may have been the very resellers we see on the sub) And it goes on and on and then, to you, the customer.The so-called A-grade reps you see on WC, let's say we buy it from the factory at ¥200 (for example, the real deal won't be this cheap) and sell to the end-user for ¥400~¥500, it does in fact look decent. Heck, retails may get "called out" in forums and reps may sneak under the radar. Chat and forum opinions aren't good indicatiors for a rep's actual quality. Thus you may wonder why buy retails at this point? No one would really hit the New Balance outlets at their local Wanda mall and ask the teeny-bop promoter lady if their kicks are legit anyway, so wouldn't this been the dream job you've wanted, right?
SMALL-TIME AGENTS
These sort of agents are mostly handling orders from overseas to cater the westerners, mainly Russian, SE-Asian, North/South American countries etc., and will never be some solo project as they always come in groups of a few dozen staff members. These agent groups can also hire decently well-spoken college students to help converse customers in English and pay them good pocket change, which is eerily similar to how Forex scams work before, but this time they're doing legit businesses for a change. Sort of.
FREELANCE AGENTS
The most common agent you may come across can be your close friends, they get instant payouts for attracting their local classmates to collect orders for reps, and this wannabe hustler reports them back to the resellers to ship to school dorms directly.

REPLICA BUILD AND QUALITY

Replicas reach far, far and wide. You could see your neighborhood cleaner aunt wearing 990v4s, motorbike taxi riders wearing Duck Camo AM90's, your kind old uncle next door exercising in Flyknit Racers and so on. NB, Nike, Converse, Ascis, Kappa; any brand you wanted they got it. ¥100 to ¥500 is what the factories charge, but after it hits resellers with a ¥200 hike, the illusion what seems to be a shoe that'll last breaks down as it wears out after a few wears. Bad stitching? Poorly-tumbled faux-leather? Off-moulded shape? I'd believe you but you sure you can tell if the EVA is fake by just looking on it? Is the gluing pattern underneath it visible even? A good deal of local boutiques sell ¥120 replicas at official retail prices like ¥599, a good ¥400 profit.
Putian factories are split into "heavy" and "light" industries. The heavy industries builds the sneaker as a whole from scratch, while the light industries were like CKD vehicles, where parts are purchased and assembled together instead. and quality of each part of the sneaker depends among factories. Lots of them try to cut corners to save every extra cent, which explains the decreasing quality of recent sneakers you see now. Larger factories has always been delivering consistently decent sneakers, as customers who contacted them are much picker and won't slash prices along with quality out of the blue. The stitching (and Nike Air units/Boost soles even!) is close enough to pass off as retails. Some of the more badass factories can make a batch of 100 brand new replicas for you, just hand in a donor retail pair and they'll get to work.The old dogs in Putian has been around for ages, runs most of the resellers you know and love. They buy reps from the factory direct at ¥140, sell to resellers at ¥160 and have the resellers push ¥180, at these prices the shoes are just not enough to satisfy demand. I've gave it an estimate if the factory got his order to 30 dozen pairs of reps, with each pair a ¥20 profit, we're looking at ¥7,000 a day or ¥20,000 a month in gross profit.
Of course, the Sales and Commerce Assoc. will still take a heavy hand on counterfeit sneakers till today, basically a few sellers every month get caught in the counterfeit business. The offenders walk into the office, sit down, had "the talk" yet again and pay a good ¥30k~¥50k fine and had their licenses taken away, for just awhile. Factories themselves get raided very seldom, maybe a every 6 months only a single factory gets caught per year. Putian has become the leading worldwide repsneaker operation for the entire world, and outputs around 50% the actual worldwide sneaker market, an estimated ¥20bn yearly. The Nikes and Adidases you wear now has an "OEM" for that. You may have bought a brand sneaker [in China], but it may very well be a fake regardless, to be fair the quality itself is indistinguishable anyway.

REPSNEAKER GRADES

1) The Standard Putian's cheapest offering, pretty much trash tier and a certain Taobao sells them the most often :^)
2) The GET Batch A huge improvement from the Standards, and the so-called 1:1 batch from the mouths of others. It's really not, some of the materials itself is not as fine or accurate as the real deal. Tmall often sells these batches, but often get sold as retails.
3) The 1:1 The absolute tip of the high-end replicas. Take it to HuPu.com and only the eagle-eyed few would call you out. Not everyone can get their hands on them, regardless of price. [eg: similar situation to UABat's Union AJ1's]
4) The Retail Nuff said, just retails. (But really, reps cost just 1/5 of the retail price, why bother lol?)
A snapshot of KFC6855's wares

HOW TO TELL FAKES

[The author essentially details how to LC NB998's, so this is best skipped as it adds nothing to the article other than repeating the author's point over and over.]

THE REPSNEAKER FUTURE

If you ever think replica sneakers will only remain within the hypebeast sporty trainer radar, oh you'd be surprised. The replica factories are on full steam, churning out Dr. Martens, UGGS, Tod's and a lot more to come. If you're interested, my WeChat: KFC6855 has them on sale right now, guaranteed to keep ya comfy this winter.

With all that said, I hope you learnt something from this, and now that you know if you really wanted a retail pair to sleep well at night, just don't get 'em in online stores. There's no glitz and glamor selling counterfeit sneakers, it's just business after all.
If you know, you know.

submitted by TeddyTheEspurr to Repsneakers [link] [comments]

Can finance training help in doing forex?

I wanna say since the beginning this post is just a question. It’s not made to brag about anything.
I just wanted to say I started to trade before doing forex classes. I have phd and masters and currently i’m on a financial doctoral study in finance and international business. Again, that’s not said for bragging. But I mentioned because I started to trade ‘for fun’ after I read a bit how things go in trading and learning some names of the tools etc. I had 1k as a start and I doubled it in less than a month. And it’s been the same for almost half a year. And I didn’t test 1000 things and I still maybe don’t know everything others say around here. Since I’m ok with less than 10k/month for now, I plan to keep it slowly but surely. My dream is not to be a millionaire anyway
But I was curious if that’s possible or do I really need to do even more courses to test strategies etc?
I am willing to learn. I never said I know them all. I studied all my life anyway so I don’t back off from it. I was just asking if it’s worth to ‘chew’ more theory (and if yes - WHAT exactly ) or just practice more.
Thanks a lot! Peace
submitted by FocusedJade to Forex [link] [comments]

I need to vent about quarantine

Hi everyone I just need to vent and get everything off my chest from quarantine because my mom doesn’t understand. So I’m 18 years old a senior who GRADUATED this year so no prom or graduation school ended as soon as baseball season began my favorite sport. And now that things are opening up again and people and my friends are going places I can’t go.
I understand why I can’t go because I do have a compromised immune system from having a kidney transplant and taking medicine but at times being in the house gets to me. Especially when you see your friends out having fun going over each other’s houses playing sports and they don’t even offer to invite you because they know what that answer is gonna be. I’m losing friends because there’s people I haven’t talked to since school ended up nobody dare checks up on me but I do to everyone else.
I decline FaceTime calls from my group chat friends and I know some of you might think oh your stupid why are you declining the call but I do because they can all laugh and have a good time and say what’s the move and I don’t say anything or they could ask me can you come and I have to say no. Then my friends are also getting jobs so they’re gonna be making money but I’m just sitting on my ass at home and my mom said I can’t get a job until all of this is over whenever it is. And I know some of y’all will say why not start an online business or learn how to do Forex trading or something I don’t have the patience to wait I would rather just get a normal job and get paid immediately.
Then my mom watches nothing but CNN and just gets more paranoid by the day and even told me after this is all over I’m still not letting you go out because how do I know it’s gone. I haven’t been allowed to go into a grocery store since February haven’t gotten my haircut since March and my mental health is just going down. I feel that nobody cares about me not even my mom nobody understands what I’m going through and whenever I ask her can I go somewhere just for fun it turns into an argument and me just wanting to explode and me throw and break everything in sight.
I hate social media now because I hate seeing people live life but I’m stuck in my own house as a prison.
I’m just tired of quarantine I want it to end before I end up doing something I regret and my mental health gets worse.
Update: So yesterday me and my mom had a fight and it wasn’t good.
This is what happened my friend invited me to his cookout tomorrow and said I can also spend the night and he said that nobody has been out of his house and I told my mom and she was like heck no and started ranting and stuff so I asked again and she said no so then I got mad/upset and went downstairs and I was mad so u could see it on my face and then she was like idky ur mad and all this other stuff and was like if u have an attitude you can go stay at Ashley’s(my sister) for the night and then when u get mad u start to cry so then she was like idc if ur crying and I don’t feel sorry for u do u think ur the only one who’s going through this and then was like ur making me mad and she went upstairs
submitted by Shon1021 to offmychest [link] [comments]

I just need to vent about quarantine

I need to vent about quarantine
Hi everyone I just need to vent and get everything off my chest from quarantine because my mom doesn’t understand. So I’m 18 years old a senior who GRADUATED this year so no prom or graduation school ended as soon as baseball season began my favorite sport. And now that things are opening up again and people and my friends are going places I can’t go.
I understand why I can’t go because I do have a compromised immune system from having a kidney transplant and taking medicine but at times being in the house gets to me. Especially when you see your friends out having fun going over each other’s houses playing sports and they don’t even offer to invite you because they know what that answer is gonna be. I’m losing friends because there’s people I haven’t talked to since school ended up nobody dare checks up on me but I do to everyone else.
I decline FaceTime calls from my group chat friends and I know some of you might think oh your stupid why are you declining the call but I do because they can all laugh and have a good time and say what’s the move and I don’t say anything or they could ask me can you come and I have to say no. Then my friends are also getting jobs so they’re gonna be making money but I’m just sitting on my ass at home and my mom said I can’t get a job until all of this is over whenever it is. And I know some of y’all will say why not start an online business or learn how to do Forex trading or something I don’t have the patience to wait I would rather just get a normal job and get paid immediately.
Then my mom watches nothing but CNN and just gets more paranoid by the day and even told me after this is all over I’m still not letting you go out because how do I know it’s gone. I haven’t been allowed to go into a grocery store since February haven’t gotten my haircut since March and my mental health is just going down. I feel that nobody cares about me not even my mom nobody understands what I’m going through and whenever I ask her can I go somewhere just for fun it turns into an argument and me just wanting to explode and me throw and break everything in sight.
I hate social media now because I hate seeing people live life but I’m stuck in my own house as a prison.
I’m just tired of quarantine I want it to end before I end up doing something I regret and my mental health gets worse.
Update: So yesterday me and my mom had a fight and it wasn’t good.
This is what happened my friend invited me to his cookout tomorrow and said I can also spend the night and he said that nobody has been out of his house and I told my mom and she was like heck no and started ranting and stuff so I asked again and she said no so then I got mad/upset and went downstairs and I was mad so u could see it on my face and then she was like idky ur mad and all this other stuff and was like if u have an attitude you can go stay at Ashley’s(my sister) for the night and then when u get mad u start to cry so then she was like idc if ur crying and I don’t feel sorry for u do u think ur the only one who’s going through this and then was like ur making me mad and she went upstairs
Edit: It’s not like I ask to go places I’ve only asked to go somewhere TWICE DURING THIS WHOLE PANDEMIC. The first place was the bowling alley with my friends the day lockdown started which was on March 13th. The second time was yesterday July 3rd other than that I’ve been staying inside and don’t ask to go anywhere. And I haven’t seen any friends since March 13th or family members since June 2nd.
I just wanna get out of the house and feel a little bit of normality.
submitted by Shon1021 to quarantine [link] [comments]

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submitted by ViralMedia007 to FREECoursesEveryday [link] [comments]

I just started learning about Forex trading

Hi all! I just started learning Forex trading last week and i don't have any professionals to guide me so i'm hoping i could find some help here. I'm not a very smart person when it comes to this so i apologize in advance if i end up asking pretty dumb questions.
  1. So far i have learned about PIPs, leverage, stoploss for risk management and reading the candlestick chart. The topics in this area could be very broad so i'm wondering what are some of the other areas i should look into as well.
  2. As a beginner, how do i know i'm confident enough to actually start trading with real money? I don't intend to jump straight into trading but i'm wondering how much time i should invest on researching and self-teaching.
  3. Is it possible to invest as low as $10? I'm currently residing in Canada and i'm not sure which broker is the best to use.
I honestly do have A LOT more questions but i will settle for the three questions above i have for now. Would appreciate if there are any professionals out there who could guide me along.
Thanks in advance!

Edit: I have been approached by a couple of "traders" through private messages promoting their own websites and courses with a fee required from me. Please do not approach me for any self-promotion for your business. Thank you!
submitted by annmateur to Forex [link] [comments]

125 days strong and counting

Last posted an update when I was 3 weeks in here.
Bit of a TL;DR for going decaf. My caffeine consumption came from pre-workouts, caffeine tablets and energy drinks. Right before I went on decaf I was probably consuming close to 1g of caffeine a day (2 tablets at 200mg per tablet in a morning, 3 scoops of pre-workout at 250mg per scoop at the gym, and maybe an energy drink through the day/or other fizzy drinks containing caffeine).
Got to a point where I was feeling nothing off that amount besides a bad night's sleep and a wave of anxiety.
Went cold turkey and started to notice improvements straight away. Sleep was noticeably better. Weirdly when I was taking that much pre-workout at the gym around 7pm, I never had a problem actually getting to sleep so I always figured I could handle the caffeine well. Just could never figure out why I felt worse the morning after haha
As the days and weeks went on noticed more improvements like more stable levels of energy through the day, more motivation, better feeling of well being, improved mental health etc. All positives.
Even now over 4 months later still feel like a million times more productive than I was before. I got furloughed from work in April, and since then me and a few friends set up a small online business, I've done jobs around the house I'd been putting off for months and years, picked up some new hobbies/skills such as forex trading.
Mood has also been a big one that's improved. There'd be times I'd be short and snap at my girlfriend. We'd get in to arguments because I'd have a short temper and such, and would just lead to putting a downer on some days because I snapped at something stupid. Feel a lot calmer and a hell of a lot less in terms of mood swings now.
My diet and sleep regime has always been strict with my powerlifting training, which I feel attributes to the lack of side effects in the early days. I think it was the 3rd day I really noticed a difference and never really got any cravings for a caffeine "pick-me-up". I still have the caffeine tablets in my supplement cupboard and not thought about taking them once.
My morning supplement stack is:
Multivitamin Fish oil Vitamin D 6mg Boron 250mg vitamin B6 powder Pinch of Himalayan salt mixed in to glass of lime juice
The lime juice/himalayan salt/vitamin b6 powder is my go-to morning drink for an energy boost now. I promise you this will give you a buzz like your morning coffee used to.
The multivitamin and fish oil are pretty basic supplements to take. Vitamin D I was already taking from the winter and just keep it in my stack. Boron as I think it's a hard mineral to get from food, and has some great benefits in hormone levels in men that studies have shown. High dose of vitamin b6 for its role with hormone balance as well, and as well as its role in the functioning of HPA axis helping regulate adrenal and stress response.
Pre-bed supplements are just 5-HTP and ZMA.
Opted for a stim free pre-workout at the gym as well, and feel much better on it with much more energy throughout my workout and all around feel like my performance in the gym has much improved. I've read studies on how caffeine and it's role on cortisol can then have a negative effect on testosterone levels, coupled with poor night's sleep, so I'm attributing it to a much better hormone balance now.
Giving up decaf has been great for me and I've advised family and friends to try it too, but I think the improvements in day-to-day life are only as good as what your day-to-day regime is in terms of diet and sleep and water in take. I drink about 4 litres a day minimum, for example. I think if you're lacking in these areas, then you're gonna still have those dips in energy etc where before you'd cover it up with caffeine.
Hoping it's a good read for someone anyway!
submitted by Harrysoon to decaf [link] [comments]

I need to vent about quarantine

Hi everyone I just need to vent and get everything off my chest from quarantine because my mom doesn’t understand. So I’m 18 years old a senior who GRADUATED this year so no prom or graduation school ended as soon as baseball season began my favorite sport. And now that things are opening up again and people and my friends are going places I can’t go.
I understand why I can’t go because I do have a compromised immune system from having a kidney transplant and taking medicine but at times being in the house gets to me. Especially when you see your friends out having fun going over each other’s houses playing sports and they don’t even offer to invite you because they know what that answer is gonna be. I’m losing friends because there’s people I haven’t talked to since school ended up nobody dare checks up on me but I do to everyone else.
I decline FaceTime calls from my group chat friends and I know some of you might think oh your stupid why are you declining the call but I do because they can all laugh and have a good time and say what’s the move and I don’t say anything or they could ask me can you come and I have to say no. Then my friends are also getting jobs so they’re gonna be making money but I’m just sitting on my ass at home and my mom said I can’t get a job until all of this is over whenever it is. And I know some of y’all will say why not start an online business or learn how to do Forex trading or something I don’t have the patience to wait I would rather just get a normal job and get paid immediately.
Then my mom watches nothing but CNN and just gets more paranoid by the day and even told me after this is all over I’m still not letting you go out because how do I know it’s gone. I haven’t been allowed to go into a grocery store since February haven’t gotten my haircut since March and my mental health is just going down. I feel that nobody cares about me not even my mom nobody understands what I’m going through and whenever I ask her can I go somewhere just for fun it turns into an argument and me just wanting to explode and me throw and break everything in sight.
I hate social media now because I hate seeing people live life but I’m stuck in my own house as a prison.
I’m just tired of quarantine I want it to end before I end up doing something I regret and my mental health gets worse.
Update: So yesterday me and my mom had a fight and it wasn’t good.
This is what happened my friend invited me to his cookout tomorrow and said I can also spend the night and he said that nobody has been out of his house and I told my mom and she was like heck no and started ranting and stuff so I asked again and she said no so then I got mad/upset and went downstairs and I was mad so u could see it on my face and then she was like idky ur mad and all this other stuff and was like if u have an attitude you can go stay at Ashley’s(my sister) for the night and then when u get mad u start to cry so then she was like idc if ur crying and I don’t feel sorry for u do u think ur the only one who’s going through this and then was like ur making me mad and she went upstairs
submitted by Shon1021 to sad [link] [comments]

Forex Trading - Getting Started

Forex Trading: a Beginner's Guide
The forex market is the world's largest international currency trading market operating non-stop during the working week. Most forex trading is done by professionals such as bankers. Generally forex trading is done through a forex broker - but there is nothing to stop anyone trading currencies. Forex currency trading allows buyers and sellers to buy the currency they need for their business and sellers who have earned currency to exchange what they have for a more convenient currency. The world's largest banks dominate forex and according to a survey in The Wall Street Journal Europe, the ten most active traders who are engaged in forex trading account for almost 73% of trading volume.
However, a sizeable proportion of the remainder of forex trading is speculative with traders building up an investment which they wish to liquidate at some stage for profit. While a currency may increase or decrease in value relative to a wide range of currencies, all forex trading transactions are based upon currency pairs. So, although the Euro may be 'strong' against a basket of currencies, traders will be trading in just one currency pair and may simply concern themselves with the Euro/US Dollar ( EUUSD) ratio. Changes in relative values of currencies may be gradual or triggered by specific events such as are unfolding at the time of writing this - the toxic debt crisis.
Because the markets for currencies are global, the volumes traded every day are vast. For the large corporate investors, the great benefits of trading on Forex are:

From the point of view of the smaller trader there's lots of benefits too, such as:

How the forex Market Works
As forex is all about foreign exchange, all transactions are made up from a currency pair - say, for instance, the Euro and the US Dollar. The basic tool for trading forex is the exchange rate which is expressed as a ratio between the values of the two currencies such as EUUSD = 1.4086. This value, which is referred to as the 'forex rate' means that, at that particular time, one Euro would be worth 1.4086 US Dollars. This ratio is always expressed to 4 decimal places which means that you could see a forex rate of EUUSD = 1.4086 or EUUSD = 1.4087 but never EUUSD = 1.40865. The rightmost digit of this ratio is referred to as a 'pip'. So, a change from EUUSD = 1.4086 to EUUSD = 1.4088 would be referred to as a change of 2 pips. One pip, therefore is the smallest unit of trade.
With the forex rate at EUUSD = 1.4086, an investor purchasing 1000 Euros using dollars would pay $1,408.60. If the forex rate then changed to EUUSD = 1.5020, the investor could sell their 1000 Euros for $1,502.00 and bank the $93.40 as profit. If this doesn't seem to be large amount to you, you have to put the sum into context. With a rising or falling market, the forex rate does not simply change in a uniform way but oscillates and profits can be taken many times per day as a rate oscillates around a trend.
When you're expecting the value EUUSD to fall, you might trade the other way by selling Euros for dollars and buying then back when the forex rate has changed to your advantage.
Is forex Risky?
When you trade on forex as in any form of currency trading, you're in the business of currency speculation and it is just that - speculation. This means that there is some risk involved in forex currency trading as in any business but you might and should, take steps to minimise this. You can always set a limit to the downside of any trade, that means to define the maximum loss that you are prepared to accept if the market goes against you - and it will on occasions.
The best insurance against losing your shirt on the forex market is to set out to understand what you're doing totally. Search the internet for a good forex trading tutorial and study it in detail- a bit of good forex education can go a long way!. When there's bits you don't understand, look for a good forex trading forum and ask lots and lots of questions. Many of the people who habitually answer your queries on this will have a good forex trading blog and this will probably not only give you answers to your questions but also provide lots of links to good sites. Be vigilant, however, watch out for forex trading scams. Don't be too quick to part with your money and investigate anything very well before you shell out any hard-earned!
The forex Trading Systems
While you may be right in being cautious about any forex trading system that's advertised, there are some good ones around. Most of them either utilise forex charts and by means of these, identify forex trading signals which tell the trader when to buy or sell. These signals will be made up of a particular change in a forex rate or a trend and these will have been devised by a forex trader who has studied long-term trends in the market so as to identify valid signals when they occur. Many of the systems will use forex trading software which identifies such signals from data inputs which are gathered automatically from market information sources. Some utilise automated forex trading software which can trigger trades automatically when the signals tell it to do so. If these sound too good to be true to you, look around for online forex trading systems which will allow you undertake some dummy trading to test them out. by doing this you can get some forex trading training by giving them a spin before you put real money on the table.
How Much do you Need to Start off with?
This is a bit of a 'How long is a piece of string?' question but there are ways for to be beginner to dip a toe into the water without needing a fortune to start with. The minimum trading size for most trades on forex is usually 100,000 units of any currency and this volume is referred to as a standard "lot". However, there are many firms which offer the facility to purchase in dramatically-smaller lots than this and a bit of internet searching will soon locate these. There's many adverts quoting only a couple of hundred dollars to get going! You will often see the term acciones trading forex and this is just a general term which covers the small guy trading forex. Small-scale trading facilities such as these are often called as forex mini trading.
Where do You Start?
The single most obvious answer is of course - on the internet! Online forex trading gives you direct access to the forex market and there's lots and lots of companies out there who are in business just to deal with you online. Be vigilant, do spend the time to get some good forex trading education, again this can be provided online and set up your dummy account to trade before you attempt to go live. If you take care and take your time, there's no reason why you shouldn't be successful in forex trading so, have patience and stick at it!
submitted by Ozone21337 to WallstreetForexRobotf [link] [comments]

My timeline of 20 years of trading (good and bad) to profitability

Tips for picking mentors
This is what works for me, and what I would tell my younger self. Don't let anyone tell you who's good or not, and who's helpful or not. Always start with an open mind. I follow Ferrari flashing you tube traders and dry professorial educators who use pen and paper. All that matters is that they help you make money.
I am 41.
16 (1995): Started designing web pages for friends and family and local businesses.
18 (1997): Opened my first account with $10k on parents advise but had little interest. Started a pro-gaming league hosting tournaments around the country for Starcraft.
20: (1999) Had an established client based now (LSU Tigers website and first online auction service, Texas Roadhouse, et al)
Saved $25k now from working. Decided to pay taxes for the first time. Suddenly became very conservative (fiscally) and wanted to know how to make back the money the Government just stole from me (preferably directly from them).
  1. (2001) Became very ill and had to drop out of college and quit my businesses. I slowly lost every friend and contact I had made since childhood.
  2. Spent the last 15 years Warren-Buffetting (buying things I know that seem affordable) my way up and down from 5$k - $35k. I was good enough to be able to take money out to live and had a little family money (from a portion of a family insurance company I provided services for) that I lived comfortably. I blew up a few times a long the way and didn't know what a candlestick was.
  3. Went into liver failure and ICU at Mayo Clinic. Got out a year later weighing 90 pounds.
39-41. Started turning a corner. I started reading Daytrading and met an ex-gambler (gone now) who was posting occasional watch lists of gappers and ran a discord chatroom calling breakout ORB5 setups. I noticed he picked a lot of winners and did not want to copy him but wanted to know HOW he picked them. I joined his room. I think he had started it the day before because there were like 3 of us. He was offering instruction on how to scan for break out long and short possibilies on FinViz. (Long https://bit.ly/2ZV8LQK: Short: https://bit.ly/2O6oo2B )
I was literally like.. "whats a vwap". He was so patient with me and we became friends. He moved on to bigger goals since then but we are still in touch. I was making nearly $2k a day following his alerts. He was a good mentor (luckily) because he never told me entries or exits. he would tell me his thoughts but never specifics - that was up to me. I learned a great deal from him, but once he left I could not pick the winners like he could. I could trade stocks but I could not pick stocks. I wanted to find winners on my own. I ended up paying him about $90 for a an hour "lesson" after we quite some time but I was already profitable and already knew everything he went over but I wanted to support him and be his first paid endoresement. He was so good at picking winners and losers that he was actually offered a lucritive private job and he accepted. He was the first person who changed my trading life.
(I did pay for a couple "indicators and services" and that I ..learned a lot from the lesson in stupidity they gave me but will not mention them by name. I'm sure my timing on things is a little off on details. When I say I bought an "indicator" this means a specific tool used to do something that I cannot do myself or to make up for a weakness I have (counting waves). Not a "green arrow buy and green arrow to sell" indicator.)
I literally googled "how to stop having trades turn against you" and watched a video I would later learn was on Stochstic Divergences from someone named Barry Burns. I researched him and watched about a hundred of his videos and was fascinated. I read one concerning review but then read that the person never took his courses and was just made because he would not provide financial statements as proof he was a profitable trader. (he does not give trade alerts, he's just an instructor so he never does this). I took a webinar on the weekend. He does one weekly at least. He asked for 250 people max and a thousand showed up. He had a chatbox and answered my question personally so after that I felt confident enough to pay him for course. I emailed him and he responded personally with a course outline. I took a beginner course and was dying to learn more. He just happened to have a special for basically every course he's ever done for half the cost. I decided this was a way to trade that spoke to my strengths and I wanted to try to master it so I did it all. Beginner to masterclass, trends, scalps, reversals, fib, cycles, waves, crosses, sector research, futures, options, stocks, forex, minute charts to yearly, tick , heikin ashi, divergences.. it went on and on and I ate it up with a spoon. At the same time I started reading books. We correspond through emails still and sometime's hes busy. I don't know if he even knows who I am but he was the second person who changed my trading life.
I knew a lot but I was losing (often more) money. I was a "doctor" (maybe an high-school nurse) who had read a book on surgery but never done it and said "sure.. I can transplant a heart!"
Rather than focus on my teachings and understanding what I was learning, I got impatient and moved on too quickly. Anything I mention I did find helpful but not always at the time that I found it. I should have mastered each item then added to my already profitable program. I had neither of those things. The course I took from Barry Burns had some custom indicators for some platforms, but none I used. They were not "premium indicators" so to speak of little buy now arrows, but simply auto labeling of waves and cycles, auto drawing of some divergences etc. He teaches counting different from anyone else I've seen so standard Elliot wave theory did not work. I was frustrated. I was wondering if I made a mistake learning something differently than other people. (in the end it was irrelevant. It was an understanding of concepts and theory that mattered. The means by which you learned it is far less important. I would definitely take his courses again as my entry into trading if I did it again)
I knew how to trade I did not know what or when to trade them. I found a man named Robert Payne. He writes custom indicators for thinkorswim, many of which are are only available on other platforms. I had a lot of programming experience so I bought a couple of things from him and started studying his code. He was amazing! His code is top quality and his indicators actually were very good. And they did start helping me find a few setups. But they were expensive and nothing lasted. I would buy a Wolfe Wave indicator and learn to trade it but not understand what it was doing. We e-mailed back and fourth for a little while as he was teaching me how to use his stuff. He introduced me to a number of people (who often were behind the original indicators he was trying to replicate) and for that I am most grateful to him. The first and most influential to me later was Scott Carney.
Scott runs HarmonicTrader.com. He sells a very reasonable (I think its like 20 bucks a month when he does a sale) where you get a morning trade meeting about the market and futures commodities harmonics that are setting up, a harmonic pattern indicator for almost any platform (some are far better than others)) and books and videos all focused on this one thing he has dedicated his life to.
I went to culinary school for a year. My first Chef instructor told our class on day one: "always source from people who specialize in one thing". On dozens of trips to Mexico in my youth we would drive ATC's up dirt roads to these small shacks. The last house on the left was Lupe and she always had a baby in one arm and a ladle in the other where she pour tortilla batter on a griddle press. I doubt it was clean, everything was covered in dirt from the windy sandy landscape - but they were the best damn tortilla's in the world.
Scott Carney is my chubby little Mexican goddess of trading Harmonic patterns and the third person who changed my trading life. (and he would not be happy if I called him that)
At this point I was struggling to find tradable stocks still. I started leaving all my chatrooms and twitter groups and message boards. I limit my twitter to people who trade better than me or up-my-game in some way. I try not to "mingle" with people of my skill level too much. I want to be challenged constantly.
I met a few more mentors but no more paid programs. Instead I pay for services like good websites and platforms that help me make my own decisions. I started associating and following expert technicians and I learn from every day and week in videos charts and tweets.
Now when I see this:
https://chrt.biz/LOVE/12425esmrhl/chart/
This is what I see in my head.
https://chrt.biz/LOVE/12425equ72v/chart/
and when I see this
https://chrt.biz/CCH/12425esm49g/chart/
I see this
https://chrt.biz/CCH/12425eqxxj4
And when I have nothing to trade, I can write my own scan and find my own winner and trade it without outside help.
There was no short cut. I put hours and hours and hour and hours in charting a hundred charts a day. Repetition = learning. Just make sure you are learning something you won't regret.
submitted by UncleRyan79 to UncleRyanAZ [link] [comments]

Inflation, Gauge Symmetry, and the big Guh.

Inflation, Gauge Symmetry, and the big Guh.
Sup retards, back at it with the DD/macro.
scroll to the rain man stuff after the crayons if you don't care about the why or how.
TLDR:
June 19 $250 SPY puts
May 20 $4 USO puts
SPY under 150 by January next year.

So I was going about my business, trying to not $ROPE myself as my sweet tendies I made during the waterfall of March have evaporated, however, I heard that the fed was adding another $2.3T in monopoly money to the bankers pile specifically to help facilitate these loan programs being rolled out.
In short, they are backing these dumb-ass, zero recourse, federally mandated, loans with printing press money.
But cumguzzler OP, your title is about inflation and guage simp--try, why are you talking about the fed #ban.
Well, when you print money it is an inflationary action in theory. Let me explain.

EDUMACATION TIME

What is inflation? Inflation is the sustained increase in the price level in goods and services. Inflation is derived from a general price index, and in the US, from the consumer price index. Knowing that inflation is an outcome, not a set policy is very important. Inflation is a measurement after the fact, much like your technical astrology indicators. (**ps, use order flow in your TA you wizards**)
HOWEVER, the actual act of buying bundles of these loans does not directly impact inflation.
Now what is Gauge symmetry? Gauge symmetry is a function of math and theoretical physics that can be applied to finance models. What a gauge is, is a measurement. Gauge symmetry is when the underlying variable of something changes, however, we do not observe that variable change.
A great example of this is if you and a friend are moving, and your friend is holding a box of tendies. The box is a cube, equal on all sides. If you turn away for a moment and she rotates the cube 90 degrees while you are not looking, and you look back - you would have no idea the cube was rotated. There was a very real change in the position of the cube in relation to space-time. Your friend acted on it. But you didn't measure it, in fact it would be impossible for you to determine if the box was changed at all if you weren't observing it. That movement of the box where you didn't observe it, is called gauge transformation and happens literally more then JPow fucks my mom in quantum physics. The object observably exactly the same even though it is not physically the same. The act of it existing as an observably the same box is gauge symmetry - it is by observation symmetrical.
Why this is important, is that fiat money doesn't have any absolute meaning. The value of $1 is arbitrary. furthermore, Inflation is a Guage symmetry. Inflation has no real impact on the real value of the underlying goods and services, but rather serves as a metric to measure the shift of value across a timeline.
When JPow starts pluggin' your mom along with all these balance sheets, there is a gauge symmetry event happening. The money he is printing is entering the system (gauge transformation), this isn't an issue if all pricing against the USD get shifted equally, however, the market is not accounting for this money because we don't have real-time data on what is being applied where, we only get a slow drip in terms of weekly and monthly reports. WE HAVE OUR EYES CLOSED. This is a gauge symmetry event.
When this happens in real terms, the market becomes dislocated from its real value price. Well how do we know there is a dislocation?
"YoU JuSt SaId tHe UnDeRlYiNg VaLuE iZ AbStRaCkKt HuRr QE aNd MaRkEtS Iz ComPlEx ReAd A TeXtBuK AbOuT FrAcTiOnAl ReSErVe BanKiNg YoU NeRd." - **anyone rationalizing the bull run**
We can look at Forex you fish.
USD lives in a bubble. The Yen is in a bubble, the RMB is in a bubble, and we exchange with each other. the Jap central bank has little effect on the CPI index (cost of goods and services) of the US. If the Yen prints a gazillion dollars, the USD is not effected EXCEPT in its exchange rate. YEN:USD would see a sizeable differential the more Yen is printed and vise-versa.
So NOW instead of JPow getting away with plowing your girlfriend, we can catch the bitch.
Instead of looking at the gauge transformation at face value and then giving up because it is symmetrical output, we can look and see if this gauge symmetry carries over to the foreign exchange market. Well guess what happens when you look at the value of the USD against foreign currencies.
Consistent uncertainty during the fed operations. Meaning the market of banks that partake in FX swaps don't know where to spot the USD. Generally a very very bad thing.
Value of the USD to Euro 2017-2020, notice the slow decline, then the chaos at the end
Above is the value of the USD to Euro, notice the sloping decline. The dollar has been growing weaker since 2017. At the end you see our present issues, lets #ENHANCE
USD to Euro, January 2020 to Present
When you see those spikes, those are days in between Fed action. The value of the US goes up when the fed doesn't print because people aren't spending. Non-spending is a deflationary event and has a direct impact on the CPI. However, each drop when you line up the dates, was a date of Fed spending.
Lets look outside of the Eurozone.

This is the RMB to USD. Yes China manipulates, but look at the end of the graph
China manipulated rates early in 2018 however you can see the steady incline upward towards the of 2018. More specifically, lets look at it since December.
RMB value against USD, January to Now
You Can see the Chinese RMB has been gaining steam since December, even with Chinese production falling off a cliff all through this pandemic.

What this rain man level autism means for the economy.

Looking across the board at Forex we can see the USD having a schizo panic attack jumping up and down like me at a mathematics lecture.
But what does all this gauge BDSM and shit have to do with the markets? Well it shows 1 of 3 things are occuring.
  1. The fed is printing money to offset deflationary pressures of the economy being fuk for the past month, and therefore all this printing is offset by the loss of liquidity throughout the system and we are all retared. (SECRET: THIS IS WHAT ALL THE INSTITUTIONS THINK IS HAPPENING AND WE WILL ALL BE FINE.)
  2. The deflationary event is overplayed, and JPow just is nailing his coffin together. This would result in long term hyperinflation similiar to the Weimar republic. The only hedge against this is to load up on strong currency that do not manipulate and have enough distance from US markets that they can have some safety (ironically the Ruble is the safest currency. Low link to the USD and not influenced by China, and on discount rn)
  3. The gauge transformation is actually not as severe as they are blurting out, the fed does not pass go, does not actually print 10 Trillion dollars, and this was all a marketing ploy to not get Trump involved and prop markets. In this case, the real deflationary event is real, the USD red rockets harder then my cock and we end up market-wise at a very high asset price in relation to real value. This one is most dangerous because it increases the real value of debt and has mass dislocation between real value and market cap. You took debt at a fixed interest rate and a fixed principal, this would cause the biggest GUH in history when all of a sudden you are $100 million in debt and your revenue was $50 million a year ago, but now is only $25 million. That $100 million in debt is still $100 million and now you have a credit crisis because past values of money were inflated. This spirals into a large scale solvency crisis of any company utilizing current growth methodology (levering up to your tits in debt)
In only 1 of these 3 scenarios do we see any sort of "good" outcome? That would be the offset of deflationary pressures.
It is very important to understand that inflation is only a measurement, and itself does not denote value of real goods and services.

Option 1 of a print fiesta that works (something similar to 1981-82) seems possible. A similar environment and reaction occured in the early 80s when the government brute-forced a bull run using these same offset theorems but in that situation, Volker at the fed had interest rates at 21.5% and had 20% to come down to stimulate the inflationary reaction.
Long term this would just lever up more debt and expanded the real wealth gap over time because we kicked the can down the road another 15 years. If that happens again socioeconomically I don't see capitalism surviving (yeah Im on my high horse get over it). This is the option that many fiscal policymakers and talking heads abide by and the reason why the markets are green. However, it is really just kicking it down the road and expanding real wealth inequality. You think Bernie Sanders is bad, wait until homes cost $3million dollars in Kentucky and AOC Jr comes around.

If we get option 2, we see hyperinflation and we turn into Zimbabwe, which is great, I've always wanted to see Africa. Long term we could push interest rate back to 1980 Volker levels and slowly revalue the US against real value commodities already pegged to the USD like oil. This would be a short term shock but because of international reliance on the USD system, we could slowly de-lever this inflation over 2-3 years and be back to normal capacity although the markets would blow their O-ring. Recession yes, but no long term depression.

If we get option 3, the worst long term option in my opinion, basically any company with any revolver line drawn down when that hits is going to go under, private equity won't touch it with a 20ft stick because cashflows couldn't possibly handle the debt on the end of the lever, and we see mass long term unemployment. The only way out of the spiral of option three is inflationary pressure from the fed+government, but because we are already so far down the rabbit hole at the current moment there's no fucking way we could print another 10 trillion. USD treasuries couldn't handle the guh and we would essentially be functionally forced into a long term (7-10 year) depression because nothing anyone could do would delever the value of the dollar. This would result in the long term collapse of the United States as a world power and would render us like Russia in 1991.

Thank you for coming to my ted talk.
submitted by TaxationIsTh3ft to wallstreetbets [link] [comments]

Forex Exchanging Where Do Clients Go

Forex exchanging utilizes cash and financial exchanges from an assortment of nations to make an exchanging market where millions and millions are exchanged and traded every day. This market is like the financial exchange, as individuals purchase and sell, however the market and the over all outcomes are a whole lot bigger. Those engaged with the forex exchanging markets incorporate the Deutsche bank, UBS, Citigroup, and others, for example, HSBC, Braclays, Merrill Lynch, JP Morgan Pursue, and still others, for example, Goldman Sachs, ABN Amro, Morgan Stanley, etc.

To engage in the forex exchanging markets, reaching any of these enormous agent help firms will be to your greatest advantage. Of course, anybody can engage in the forex showcase, however it takes effort to find out about what is hot, what isn't, and exactly where you should put your cash as of now.

Global banks are the business sectors greatest clients on the forex markets, as they have a huge number of dollars to contribute day by day, to procure premium and this is only one strategy for how banks bring in cash on target you spare in their bank. Consider the bank that you manage constantly. Do you know whether you can go there, and get cash from 'another' nation in the event that you are taking off in the midst of a get-away? If not, that bank is in all likelihood not associated with forex exchanging. On the off chance that you need to know whether your bank is engaged with forex exchanging, you can ask any administrator or you can take a gander at the budgetary data sheets that banks are to answer to general society on a quarterly baiss.

In the event that you are new to the forex advertise, it is imperative to acknowledge there is nobody individual or one bank that controls all the exchanges that happen in the forex markets. Different monetary forms are exchanged, and will start from anyplace on the planet. The monetary forms that are frequently exchanged the forex markets incorporate those of the US dollar, the Eurozone euro, the Japanese yen, the English pound real and the Swiss franc just as the Australian dollar. These are only a couple of the monetary standards that are exchanged on the forex markets, with numerous different provinces monetary forms to be incorporated also. The fundamental exchanging communities for the forex exchanging markets are situated in Tokyo, New York and in London however with other littler exchanging focuses found idea out the world also.

#future academy
#futurefx market
#forex market
#forex currency
#forex trading
submitted by futurefxmarketltd to u/futurefxmarketltd [link] [comments]

Forex Duality - Tradeology

Forex Duality:- It is safe to say that you are working in a touch of an inside orientated condition? Is your arranging somewhat receptive to what in particular is going on in your business and a piece also task-orientated around everyday activities?
You may have vital objectives and desires to develop however the everyday operational reality probably won't be adjusted to your business objectives. The outcome is that you may very well concentrate on dealing with the work as opposed to dealing with the business and subsequently deteriorating a piece. Perceive the example?
Tradeology:- Some lucidity and spotlight on the association just as the activity will enable you to recognize what you need to accomplish and make a guide on the most proficient method to arrive. This will permit you to focus on the conveyance of work which is most likely where your quality and mastery lie.
On the off chance that the market scene has moved from a dealer prompted a purchaser driven position does your business arranging mirror this change? Investigate your site and take a gander at the language you are utilizing. Do most sections and sentences start with the word We… or on the other hand the name of your organization? What message does that provide for a first time client?
Forex Duality Review:- What it passes on is that it's everything about you and how astute and incredible you are at what you do while without a doubt you should leave that dynamic procedure up to the guest. It is more amiable when welcoming somebody to ask how they are and how you can help them instead of yelling at them how radiant you are.
Your business arranging is maybe similar to your site and puts you at the focal point of everything. Try to turn this around and begin arranging everything around the client – you'll appreciate the outcomes. Gracious, you may need to plan for a touch of client assistance preparing so everybody comprehends the significance of what you are doing.
accelerating profits system:- Some would advocate swimming in the blue sea instead of the red sea brimming with sharks where everybody is pursuing similar prey. Just by having the best client experience through and through will help separate you from the greater part of your rivals yet you can't reveal to them that, you need to convey it and convey it well.
Long haul benefit and execution are expanded just when you have a reasonable serious edge and usage structure to help your pay through progressively beneficial client connections. Conveying this depends on 2 key components:
1.External Effectiveness
2.Internal Efficiency
Forex It's in every case great to begin toward the start, yet we really start toward the end! Why, since we have to comprehend what your goal is with the goal that we can assist you with building the correct structure (guide) to arrive.
In the event that what you have seen here has given you something to think about and tested a portion of your speculation then there is bounty more for us to talk about.
On the off chance that you would like to investigate how you can be progressively effective and get more cash-flow then we would be enchanted to stop for a moment to talk with you to give you how that is truly conceivable.
submitted by aishamudgil to u/aishamudgil [link] [comments]

What options do I have having passed my Series 3, 34, and 30 exams.

I took all 3 of these exams to work for a financial advisor as a portfolio manager / analyst type deal. I would trade and manage his forex side of the business and also help him with the securities side with choosing what stocks to purchase or sell. After 3 months of working with him I quit because the guy has serious anger issues.
At this point I’m not sure I’ll find another position that will give me the same responsibilities I had there. I’m not afraid of having to prove myself all over again but, the last thing I want is a fucking intern job wiping asses where I feel no personal growth. I get everyone has to start somewhere but, I feel theres a difference between having pride and knowing your worth.
I’m not sure how to target specific firms or how to figure out what they exactly do besides straight up calling each one.
submitted by In-Hell-Above-Heaven to FinancialCareers [link] [comments]

Stop Entry (and Stop Loss) triggering from Bid/Ask rather than mid

TD Ameritrade user here. I've been using ThinkOrSwim for quite a while for forex and equities and only just recently branched out to look at other brokers because I've started trading more minors/crosses lately and TD's spreads on those are awful(some are double Oanda's!).
Anyways, one thing that's great about ToS is that you can trigger your stop orders on any price type you'd like: Mark(mid), Bid, or Ask.
I've noticed on every other broker platform(Oanda, IG, Forex.com, so far) that when you set up a stop order - either for entry or loss - it triggers based on the bid/ask price rather than the mid price, so you might enter or exit the trade when the actual price is very different(depending on spread) from where your analysis said you should enter or exit the trade.
It doesn't look like something that can be adjusted in any of their platforms from the settings I could find, and the support reps said it wasn't something they could change.
This seems like a particularly rough problem if you are holding a position past market close - since spreads can double/triple/more during that time. You might get stopped out of a trade without the mid price actually having changed at all.
Has anyone else run into this problem? How do you typically deal with it? Or is this just a cost of doing business and you hope your positions aren't anywhere near your SL at market close/open?
submitted by ForexBorex to Forex [link] [comments]

Some tips for Choosing a Mentor

This is what works for me, and what I would tell my younger self. Don't let anyone tell you who's good or not, and who's helpful or not. Always start with an open mind. I follow Ferrari flashing you tube traders and dry professorial educators who use pen and paper. All that matters is that they help you make money.
Top portion are tips. I posted a long outline below of my timeline (shorter version of my first post) and good and bad decisions I made. I'm not always sure what information helps people. I enjoyed posts like this while I was learning.
Tips

My Timeline
  1. Saved $25k from self employment. Decided to pay taxes for the first time. Suddenly became very conservative (fiscally) and wanted to know how to make back the money the Government just took from me (preferably directly from them).
  2. (2001) Became very ill and had to drop out of college and quit my work.
  3. Spent the next 15 years Warren-Buffetting (buying things I know that seem affordable) my way up and down. I was good enough to be able to take money out to live comfortably. I blew up a few times a long the way and didn't know what a candlestick was.
  4. 3-4 years in a health crisis
38-40. Started turning a corner. I started reading Daytrading and met an ex-gambler (gone now) who was posting occasional watch lists of gappers and ran a discord chatroom calling breakout ORB5 setups. I noticed he picked a lot of winners and did not want to copy him but wanted to know HOW he picked them. I joined his room. I think he had started it the day before because there were like 3 of us. He was offering instruction on how to scan for break out long and short possibilies on FinViz. (Long https://bit.ly/2ZV8LQK: Short: https://bit.ly/2O6oo2B )
I was literally like.. "whats a vwap". He was so patient with me and we became friends. He moved on to bigger goals since then but we are still in touch. I was making nearly $2k a day following his alerts. He was a good mentor (luckily) because he never told me entries or exits. he would tell me his thoughts but never specifics - that was up to me. I learned a great deal from him, but once he left I could not pick the winners like he could. I could trade stocks but I could not pick stocks. I wanted to find winners on my own. I ended up paying him about $90 for a an hour "lesson" after we quite some time but I was already profitable and already knew everything he went over but I wanted to support him and be his first paid endoresement. He was so good at picking winners and losers that he was actually offered a lucritive private job and he accepted. He was the first person who changed my trading life.
(I did pay for a couple "indicators and services" and that I ..learned a lot from the lesson in stupidity they gave me but will not mention them by name. I'm sure my timing on things is a little off on details. When I say I bought an "indicator" this means a specific tool used to do something that I cannot do myself or to make up for a weakness I have (counting waves). Not a "green arrow buy and green arrow to sell" indicator.)
I literally googled "how to stop having trades turn against you" and watched a video I would later learn was on Stochstic Divergences from someone named Barry Burns. I researched him and watched about a hundred of his videos and was fascinated. I read one concerning review but then read that the person never took his courses and was just made because he would not provide financial statements as proof he was a profitable trader. (he does not give trade alerts, he's just an instructor so he never does this). I took a webinar on the weekend. He does one weekly at least. He asked for 250 people max and a thousand showed up. He had a chatbox and answered my question personally so after that I felt confident enough to pay him for course. I emailed him and he responded personally with a course outline. I took a beginner course and was dying to learn more. He just happened to have a special for basically every course he's ever done for half the cost. I decided this was a way to trade that spoke to my strengths and I wanted to try to master it so I did it all. Beginner to masterclass, trends, scalps, reversals, fib, cycles, waves, crosses, sector research, futures, options, stocks, forex, minute charts to yearly, tick , heikin ashi, divergences.. it went on and on and I ate it up with a spoon. At the same time I started reading books. We correspond through emails still and sometime's hes busy. I don't know if he even knows who I am but he was the second person who changed my trading life.
I knew a lot but I was losing (often more) money. I was a "doctor" (maybe an high-school nurse) who had read a book on surgery but never done it and said "sure.. I can transplant a heart!"
Rather than focus on my teachings and understanding what I was learning, I got impatient and moved on too quickly. Anything I mention I did find helpful but not always at the time that I found it. I should have mastered each item then added to my already profitable program. I had neither of those things. The course I took from Barry Burns had some custom indicators for some platforms, but none I used. They were not "premium indicators" so to speak of little buy now arrows, but simply auto labeling of waves and cycles, auto drawing of some divergences etc. He teaches counting different from anyone else I've seen so standard Elliot wave theory did not work. I was frustrated. I was wondering if I made a mistake learning something differently than other people. (in the end it was irrelevant. It was an understanding of concepts and theory that mattered. The means by which you learned it is far less important. I would definitely take his courses again as my entry into trading if I did it again)
I knew how to trade I did not know what or when to trade them. I found a man named Robert Payne. He writes custom indicators for thinkorswim, many of which are are only available on other platforms. I had a lot of programming experience so I bought a couple of things from him and started studying his code. He was amazing! His code is top quality and his indicators actually were very good. And they did start helping me find a few setups. But they were expensive and nothing lasted. I would buy a Wolfe Wave indicator and learn to trade it but not understand what it was doing. We e-mailed back and fourth for a little while as he was teaching me how to use his stuff. He introduced me to a number of people (who often were behind the original indicators he was trying to replicate) and for that I am most grateful to him. The first and most influential to me later was Scott Carney.
Scott runs HarmonicTrader.com. He sells a very reasonable (I think its like 20 bucks a month when he does a sale) where you get a morning trade meeting about the market and futures commodities harmonics that are setting up, a harmonic pattern indicator for almost any platform (some are far better than others)) and books and videos all focused on this one thing he has dedicated his life to.
I went to culinary school for a year. My first Chef instructor told our class on day one: "always source from people who specialize in one thing". On dozens of trips to Mexico in my youth we would drive ATC's up dirt roads to these small shacks. The last house on the left was Lupe and she always had a baby in one arm and a ladle in the other where she pour tortilla batter on a griddle press. I doubt it was clean, everything was covered in dirt from the windy sandy landscape - but they were the best damn tortilla's in the world.
Scott Carney is my chubby little Mexican goddess of trading Harmonic patterns and the third person who changed my trading life. (and he would not be happy if I called him that)
At this point I was struggling to find tradable stocks still. I started leaving all my chatrooms and twitter groups and message boards. I limit my twitter to people who trade better than me or up-my-game in some way. I try not to "mingle" with people of my skill level too much. I want to be challenged constantly.
I met a few more mentors but no more paid programs. Instead I pay for services like good websites and platforms that help me make my own decisions. I started associating and following expert technicians and I learn from every day and week in videos charts and tweets.
41 I started studing #thestrat on twitter and following the mentor Rob Smith. He taught me price discovery, time frame continuity and participation groups. He is the fourth person who changed my trading life.
Now when I see this:
https://chrt.biz/LOVE/12425esmrhl/chart/
This is what I see in my head.
https://chrt.biz/LOVE/12425equ72v/chart/
and when I see this
https://chrt.biz/CCH/12425esm49g/chart/
I see this
https://chrt.biz/CCH/12425eqxxj4
And when I have nothing to trade, I can write my own scan and find my own winner and trade it without outside help. They aren't all winners. Plenty of losers. But I do it without help and that was my goal from day one. There were definitely turning points in my journey where the knowledge I learned caught up with the trading I was doing. If I had to do it over again, I don't think I would do anything differently. Even my mistakes were learning opportunities and brought me to where I am today.
There was no short cut. This is the hardest thing I've tried to do in my life and I've had some doozy's. I put hours and hours and hour and hours in charting a hundred charts a day. Repetition = learning for me. Just make sure you are learning something you won't regret. It's almost impossible to unlearn and I spend the majority of my time trying to stick to a rule-set to counteract things I learned incorrectly. I revisited things like Harmonics (that I trade daily now) as I gained more skill and finally things started coming together for me more and more until I just started to see patterns and trends and set ups naturally. Trading is a learnable skill that anyone can accomplish with hard work and focus.

Good Luck. Be Safe.
submitted by UncleRyan79 to UncleRyanAZ [link] [comments]

Need to vent about quarantine

Hi everyone I just need to vent and get everything off my chest from quarantine because my mom doesn’t understand. So I’m 18 years old a senior who GRADUATED this year so no prom or graduation school ended as soon as baseball season began my favorite sport. And now that things are opening up again and people and my friends are going places I can’t go.
I understand why I can’t go because I do have a compromised immune system from having a kidney transplant and taking medicine but at times being in the house gets to me. Especially when you see your friends out having fun going over each other’s houses playing sports and they don’t even offer to invite you because they know what that answer is gonna be. I’m losing friends because there’s people I haven’t talked to since school ended up nobody dare checks up on me but I do to everyone else.
I decline FaceTime calls from my group chat friends and I know some of you might think oh your stupid why are you declining the call but I do because they can all laugh and have a good time and say what’s the move and I don’t say anything or they could ask me can you come and I have to say no. Then my friends are also getting jobs so they’re gonna be making money but I’m just sitting on my ass at home and my mom said I can’t get a job until all of this is over whenever it is. And I know some of y’all will say why not start an online business or learn how to do Forex trading or something I don’t have the patience to wait I would rather just get a normal job and get paid immediately.
Then my mom watches nothing but CNN and just gets more paranoid by the day and even told me after this is all over I’m still not letting you go out because how do I know it’s gone. I haven’t been allowed to go into a grocery store since February haven’t gotten my haircut since March and my mental health is just going down. I feel that nobody cares about me not even my mom nobody understands what I’m going through and whenever I ask her can I go somewhere just for fun it turns into an argument and me just wanting to explode and me throw and break everything in sight.
I hate social media now because I hate seeing people live life but I’m stuck in my own house as a prison.
I’m just tired of quarantine I want it to end before I end up doing something I regret and my mental health gets worse.
submitted by Shon1021 to Vent [link] [comments]

How do I help a friend early-on?

So my friend recently joined something called "IM Academy" a.k.a "Walking ATMs". He paid £200 as an entry fee then it's £150/month. If you manage to recruit two paying individuals then you do not need to pay the monthly fee. If you recruit three or more people then you start getting weekly residuals based on how many people you've recruited. For instance, for 3 people recruited is a weekly $37.50; for 12 people it's $150 a week.
He wanted to call me for a 'business opportunity'. First he explained that once you pay the entry-fee, you are provided with a forex course (which I wasn't interested in but I didn't feel like it was a scam), then he mentioned how the recruitment process works (explained above) and that's when alarm bells started ringing.
I understand that IM Academy may be an MLM company rather than a pyramid scheme but it still annoys me how my friend is paying for something that he doesn't need to pay for because if he really wanted to become a full-time forex trader then university is the right path (and he is not going to uni) OR to trade forex on-the-side (which doesn't really work either because you always need to be studying charts) you need to learn techniques, how to read graphs and other basic information which can all be found on the internet for free (YouTube, reddit etc)
A friend and I had an argument with him and he compared IM Academy to a full-time job and how "You are never going to be the CEO". He doesn't understand that a pyramid scheme works like this.
It's almost like he's in denial about a company where the people above him make money off him just by him paying his monthly-fee. What should I do?

TL;DR: friend joined a pyramid scheme, is in denial and I wanna help him.
submitted by nicnic2001 to antiMLM [link] [comments]

Guidance for anyone who want to start their own business but don't know what it should be and defeating the shiny object syndrome.

For 5 years, I only pursued doing what I heard other people did and were supposedly making a killing. Print on demand, facebook ad services, kickstarter (people form larger countries are lucky to be able to create campaigns, KS projects cannot be created from central and eastern European countries. I hope that will change - I did it via my brother's UK company). I felt exhausted, because I was in it for the money. What I loved doing for a week on one of my ventures, faded quick and I started something other. The shiny object syndrome classroom example.
Then I've taken a month break.
And things started to get better and the question I could advise you ask yourself:
Imagine doing something you enjoy for the rest of your life but without getting paid for it - What would it be?
Right now I feel like that about my podcasts. It all started out by me interviewing an executive in a company I work for about his career, challenges and personal development. I really loved doing it. There were around 24 people in the room and they all said the session was really great. Did I just get paid to ask questions that people loved hearing about I asked myself? It was not my core task, just something I did out of curiosity on top of my duties.
About that time, we had to buy our first car for my wife and I read all the things about a particualr car. So much, that when I got to test drive one, the owner asked if I could go with him to check a car he was looking to upgrade to, as he saw me go over his car meticulously.
Then I thought, I should make a podcast where I chat with other car owners and share my knowledge about the type of car we bought.
The priuspodcast was born, almost 1 year ago to date!
I love doing it ever since. My goal with it is to make 100 episodes, so I won't allow myself to jump from idea to ide. But the thing is, I don't need to jump as I love doing it. After 25 episodes, a sponsor was onboarded that made this project my most successful one from the ones I did for 5 years. I lost the sponsor due to COVID but there is a huge opportunity that I work on to develop the podcast.
The second podcast idea came just after 45 episodes of the original one. I've been following Tesla for a while. I had a Tesla stock as well that I sold long ago. I just did it for the fun of it, but don't have much money to make it worth to reenter the stockmarket (partly due to forex). Anyway, I loved talking about Tesla with my brother and so I decided why not talk with Tesla owners about their ownership experience, what they think about the company and how they see the industry? So I launched Tesla Tales and I loved chatting with owners about their experience.
After season 1 of Tesla Tales, even though I loved the discussions, all of them were kind of the same :) All the owners cheering Tesla and their car with a few exceptions but I thought that was a bit boring to listen to for others so for season 2, I switched things around. Now I interview Tesla owners on their journey how they got to the point to afford a Tesla. How they developed their career, business. What were the worst moments, what were the ah-ha moments. And what would they do if they had to start their career all over again.
That allowed me to speak with a military flight teacher (much like Viper in Top Gun!), custom Tesla shop owners and a lot of other people, getting to know their stories. And I love all of that!
I heard all the theory, read a lot of business books and attended webinars but it did not make it easier to find my true calling. Only the practical case studies of others did that there are tons of in the sidehustleschool podcast to serve as an idea pool.
submitted by priuspodcast to EntrepreneurRideAlong [link] [comments]

Suggestion: FOREX - Eliminating Botters & RWTers by making them redundant

INTRO: Read it before you downvote please. - No troll, just a fix for botters and rwters.
Jagex shouldn't keep fighting against botters and RWTers with just technology. Instead they should aim to make them redundant.
"Remember how many scams used to happen before they had two trading windows, the value being shown and the exclamation red mark shown when there is a change? Well they fixed it by making scamming so difficult it became not worth it."
"Remember when Multi-logging was against the rules? Well not only they got rid of it, but everyone seems to be using alts nowadays to make their gameplay more enjoyable"
"Remember the private servers? They tried to force them to close individually. Well they kept popping up until Jagex created the 2007scape, now known as OldSchool Runescape and with the various game modes, basically killed the Private servers naturally."
It's time for Botting and RWTing.
__________________________________
We all know that botting occurs mostly for gold farming, rather than leveling for personal use. The reason being is that there are a lot of users who want to purchase in game cash or swap gp for a specific game mode. While there are the botters who sell to third party companies in order to make real money.
Currently there is a way already implemented in which you can purchase bonds with real money and sell them on the Grand Exchange for in game cash for that specific game mode.
Currently one account can also be used to play on OSRS, DMM & DMMTs. Each of these game modes also has a grand exchange implemented.
I'm not saying we can get rid of gold farmers, but if more and more people decide to swap currencies between all game modes ( OSRS, DMM & DMMTs. ) we can potentially reduce their influence on the game as less people will look for alternatives online.
SUGGESTION: FOREX
For those of you that don't know, Forex is the word used for foreign exchange, used in currencies globally, where you exchange your current currency into another one, usually done for traveling purposes and sometimes for potential profits.
Implementation: In the Grand Exchange
Upon clicking in the Grand exchange, there will be a new button called 'Currency Exchange'
An interface similar to the GE pops up with a total of 4 Different offers that can be made at a time. There will be one button called 'EXCHANGE', instead of 'BUY' or 'SELL'.
What can be exchanged: Platinum tokens only and possibility of real money to members, upon a verification process and restrictions in place.
How will it work: Let's explain this in an example
A new Seasonal Deadman Tournament is about to start. I have 100Mil in my OSRS account. I go on an OSRS server, go to the currency exchange and click exchange. I put 50k platinum tokens in the exchange and choose DMMT currency with the same mechanics of normal GE items (Market price, +5%, -5% or custom price).
Someone on DMMT wants to exchange his money for OSRS gp at the price I put of 50m OSRS for 500k DMMT. The offer was completed. The offer on the OSRS Server gets automatically done. Upon logging in the DMMT server (with the same account) you will have the 500k waiting for you in the Currency Exchange.
A new seasonal DMMT just started, however this time I do not have 50m to exchange, however I am willing to use my real money to do so. Currently, although against Jagex rules, I can go on a website offering this and buy a certain amount of money.
With this system I can 'deposit' real money on my account and put an exchange offer to purchase the same amount from a person who is willing to sell it for IRL cash.
When the exchange is done, my account will find the new platinum tokens in my DMMT Currency Exchange and the player who sold it will be credited with the real money on his account.
Tax System:
Just like real banks take a commission per currency exchange, Jagex should also take a percentage cut which would be similar to the dual arena tax system, from both players/sides of the exchange.
  1. Because of the Tax system in place, when before the exchange there was 100m in OSRS and 500k in DMMT, now there will be a tax on 50m osrs, and tax on 500k dmmt, meaning there will be less money in circulation.
  1. The only way for real money exchanges to take place, is to have both accounts in the trade paying for members (using bonds or buying membership normally)
  2. The commissions RWT companies makes becomes profits of Jagex as Jagex takes a bigger percentage from real money than it would for in game cash to in game cash.
Restrictions
I would suggest that there should be a certain amount of hours played, quests completed and total levels achieved to be able to do this, thus eliminating botters from instantly selling. Similar to current restrictions for new accounts.
Verification
If you wish to partake in real money exchange, there should be a verification process in place, just like they do when you create online bank accounts with photos, ID cards, Passports and what not.
What to do with Real Money credits?
The credits accumulated and/or deposited in your account can be used for purchasing bonds and/or membership. They can also be withdrawn to a bank account as real money.
Won't this increase the number of botters?
No, on the contrary. I believe it will drastically decrease the number of botters, at least the large scale gold farmers. Here's why:
  1. Since there is a real life verification process, jagex can easily monitor all the transactions taking place, and any suspicions of botting can be greatly monitored, unlike right now where there are millions of trades everyday and no way to figure out who rwted or not.
  2. Since jagex itself will be offering the currency exchange platform, less players will use third party websites, forcing them to close and so botters will be forced to sell on Jagex's platform, which then can be easily monitored as suggested in point 1 above.
TLDR / Conclusion :
To conclude, I believe my suggestion of building an in game currency exchange will help the economies of all OSRS game modes as well as Jagex profits and reputation as leading games by example.
  1. Inflation is fought directly with a tax system in place on each exchange made.
  2. It will reduce drastically the botters with the new verification process taking place for anyone wishing to sell his money.
  3. RWT websites will be forced to close naturally as less and less players will buy from them since there will be an in game platform. The commissions and profits they were making, will become Jagex's and so will be way more profitable - meaning better for them, and more and faster updates for us players.
  4. Since players will be able to make real money, the user retention will just increase more than ever.
  5. Current and/or New game modes will be more enjoyable as rebuilding will be easier than ever and therefore more people participate in esports events.
  6. With the rise of esports, twitch streams and youtube vids, every gamer wants to make real money playing a game they enjoy. Being the first mover in business is what helps games explode with users.
  7. Since there will be less bots, then most dead content will become alive again to make up for the lack of supply by bots and giving a healthy profit for anyone willing to take the time to level up certain skills or killing certain NPCs. This is what happened to oak logs in f2p in the last two months.
Lastly, this gives a chance for Venezuelans to survive without the need for 3rd party companies/software.
Think about their family :P
submitted by s_q_p_r to 2007scape [link] [comments]

how to start forex trading in 5 simple steps in 2020 How To Start Forex Trading For Beginners (2020) How to Start Forex Trade How to Start a Forex Business? B2Broker – Liquidity & Technology Provider HOW TO START FOREX TRADING 2020

All that you need to have to start forex trading business is some money, personal computer or smartphone, reliable internet connection, and some amount of patience. Here is a guide on how start your currency trading business from home: 1. Learn the basics of currency trading. Forex can be confusing and somehow difficult for a beginner. If you decide to start your own forex trading business today, one of the major challenges you are likely going to face is the presence of well established forex trading companies and also certified forex traders who are offering same services that you intend offering. The only way to avoid this challenge is to create your own market. How to Trade Forex. Trading foreign exchange on the currency market, also called trading forex, can be a thrilling hobby and a great source of income. To put it into perspective, the securities market trades about $22.4 billion per day; the forex market trades about $5 trillion per day. You can trade forex online in... Forex Trading Business – Learn the Basics. Before you start actually trading in forex market, it is wise to learn the basics of the trade. Let us briefly explain the basic rules and terms of the business. 1. Pairs. The working procedure of forex trading is mostly similar in comparison with other financial market platforms. Forex Brokers: In order to start trading forex, you will need to trade with the help of a forex broker. There are many forex brokers out there today who allow you to open a forex trading account for as little as $5.

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how to start forex trading in 5 simple steps in 2020

I Tried Creating A $100,000 Shopify Dropshipping Business In 7 Days *LIVE ... 40:17. How to Start as a Forex Trader Forex for Beginners 2020 - Duration: 8:34. Mindfully Trading 3,974 ... We are hosting a free 3-day forex online webinar on June 12th-14th. You get access to the 3-day webinar + recordings of the webinar + Q&A Session all for free. Thanks to our bdswiss partnership ... This video will teach you on how to start trading in forex. Will teach you how to practice in executing trades too. I'm sorry this is my first time to vlog while talking so i'm still a bit shaky ... #forextrading #forex Guys so in this video I will share with you how to start forex trading in 5 simple steps in 2020. I know most people want to learn how to trade the forex. How to open forex broker company? Launch your own multi-asset turnkey brokerage business. If you’re looking to set up your own brokerage business, should you choose Forex or Crypto?