Forex Pair Performance Strength Score

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Forex Pair Performance Strength Score"

Transcription

1 Issue 50 Wednesday, September 11, 2013 Forex Pair Performance Strength Score Michael Burke Vice-president of Client Training and Education Features Studies/Files Included: Focus: Technical Indicators Markets: Forex Workspace Time Perspective: Intermediate term Overview With dozens of forex pairs available to trade and analyze, the performance relationships among all these pairs give us an opportunity to measure which currencies are performing relatively stronger or weaker compared to other currencies, and to find the pairings that might best exploit these relative strengths and weaknesses. The Forex Pair Performance Strength Score concept is presented here as a set of tools to measure and monitor these performance relationships and assign a strength score to each individual currency and also to each currency pair. This is done by examining the performance of each currency across all its pairs and then combining the scores of the two currencies in each pair. This paper will focus only on the eight major (most widely traded) currencies: U.S. dollar, Japanese yen, euro, Swiss franc, British pound, Canadian dollar, Australian dollar and New Zealand dollar. These eight currencies represent 28 unique tradable currency pairs. Forex Pair Symbology This section is a brief review of the basic principles of a forex pair symbol. Although many readers may already be familiar with this, it is offered here because an understanding of forex pair symbology and terminology is necessary in order to fully appreciate the concepts and methodology of the Performance Strength Score. Each cash forex symbol comprises two underlying currencies: Base Currency (EURUSD) The base currency in a forex pair symbol is the first symbol noted. In the case of EURUSD, the base currency is EUR (euro). This is the currency you are buying or selling. For example, if your trade size is 100,000 units, you are buying or selling 100,000 euros against U.S. dollars. Forex Pair Performance Strength Score Page 1 of 10

2 Quote Currency (EURUSD) The quote currency, sometimes called the secondary or terms currency, is the second symbol in a forex pair. In the case of EURUSD, the quote currency is USD (U.S. dollars). This is the currency price being quoted. For example, if EURUSD is currently quoted at bid / ask, then you would pay U.S. dollars to buy 1 euro and receive U.S. dollars to sell 1 euro. The realized profit or loss of a trade is always based on the quote currency. TradeStation automatically converts this into your native account currency at the end of the session based on the current conversion rates. Figure 1: Forex Pair Symbol Terminology Measuring Forex Strength The first step in measuring the Forex Strength Score is to calculate a relative strength score for each of the eight major underlying currencies individually. This is done using the seven forex pairs that contain each underlying currency. We calculate the performance for each of the seven forex cash pairs using a smoothed momentum percentage. Specifically, we use the 3-bar simple average of the 13-bar percent change. Since there are two currencies represented in each forex pair, if the momentum percentage for the pair is positive, then the score value for the base (first) symbol in the pair is also positive and the score value for the quote (second) symbol in the pair must be negative. For example: if EURUSD has a positive momentum percentage value of.55, then the EUR would get a positive score value, +.55, and the USD gets a negative score value, We then accumulate the scores for each of the seven unique forex pairs to come up with the raw performance score for the underlying currency. In other words, we look at all seven pairs that contain the EUR and add up the scores: Euro Score = (EURAUD + EURCAD + EURCHF + EURGBP + EURJPY + EURNZD + EURUSD) This formula is a little different for currencies that are not the base (first) currency of the symbol. For example, U.S. dollar: U.S. Dollar Score = (USDCAD + USDCHF + USDJPY) - (AUDUSD + GBPUSD + EURUSD + NZDUSD) Forex Pair Performance Strength Score Page 2 of 10

3 Notice that we must subtract the scores when the score currency is the quote (second) currency in the symbol, since a negative performance score for that pair actually means the score was positive for the quote currency. Let s plug in some sample performance numbers to illustrate the idea. U.S. Dollar Score = ( (-.4)) - ( (-.3) + (-.4)) = +.2 (Raw Total Score) This raw score for each underlying currency is then normalized to a larger number that can be compared and sorted more easily in charting or RadarScreen. Euro Score Illustration Table 1 shows the smoothed momentum percentage for each of the seven related euro currency pairs. It is these momentum values that normalize or combine into the Strength Score for the underlying euro currency. The normalized score formula is the sum of all pairs related to a currency using average momentum percent multiplied by 1,000 and divided by 7. Table 1: Table with Forex Pair Smoothed Momentum Percentage Values and Final Score for Euro EURAUD EURCAD EURCHF EURGBP EURJPY EURNZD EURUSD Raw Score Performance Euro Strength Score 3.35 Calculating the Strength Score for Each Forex Pair Once we have the normalized score for each of the eight major underlying currencies, the normalized scores for the two underlying currencies in a specific pair make up the Strength Score for that pair. We then calculate this final Strength Score for each of the 28 forex pairs. Table 2 shows the Strength Score for each of the major currencies. Table 2: Strength Score for the Major Currencies FX Strength Score (Daily Interval) Aussie Dollar British Pound Canadian Dollar Euro Japanese Yen New Zealand Dollar Swiss Franc U.S. Dollar The strongest and weakest underlying currencies in table 2 are the British pound and the Canadian dollar with Strength Scores of and , respectively, yielding a Strength Score of for the pair. We take the Strength Score of the British pound and subtract the Strength Score of the Canadian dollar as follows: ( (-16.82)) = Forex Pair Performance Strength Score Page 3 of 10

4 Figure 2: Strength Scores for the 28 Major Pairs Calculating this score for all 28 pairs, we can sort and rank the list of forex pairs in RadarScreen in order to find the strongest and weakest pairs relative to each other. The weakest pair in figure 2 is CADCHF with a Strength Score of , the result of the Canadian dollar score of and the Swiss franc score of (table 2): ( (+2.56)) = Since the Canadian dollar is the weakest underlying currency, it will have a reverse score effect when it is the quote (second) symbol in the pair, placing those pairs among the strongest/bullish (for example, GBPCAD or AUDCAD). Charting the Forex Pair Performance Strength Score The historical values of the Strength Score for an individual forex pair can be plotted in a chart in order to gauge the trend of the score and to see any visual correlations between the score and the price action. The plot of the TSL: FX Pairs Strength Score CH changes color from red to green, or vice versa, as the score crosses above or below 0. Forex Pair Performance Strength Score Page 4 of 10

5 It is important to remember that the score for a single cash forex pair is derived from the total score of the two underlying currencies that make up the cash forex symbol. Figure 3: EURUSD with TSL: FX Pairs Strength Score CH Charting the Strength Score for the Underlying Currency Figure 4: EURUSD with TSL: FX Currency Strength Score CH Forex Pair Performance Strength Score Page 5 of 10

6 It is not enough to know the momentum of just a single pair; it is equally important to know the trend of the Strength Score for each of the underlying currencies that make up the pair. For example, if we are going long EURUSD, it would be nice to know if the euro score is trending up and the U.S. dollar score is trending down in order to confirm the trading signal. The TSL: FX Currency Strength Score CH indicator plots the Strength Score for each of the underlying currencies of a forex pair. You can see that when the two underlying currency scores cross, the TSL: FX Pairs Strength Score CH indicator for the forex pair crosses above or below zero on the same bar. Note: If the symbol in the chart is not a currency pair, the indicator will plot values for all eight underlying currencies. One possible application of this information is to confirm a trading signal by waiting for one underlying currency to be above zero and trending higher and the other currency to be below zero and trending lower. To help visualize this concept, the TSL: FX Pair Strength Score CH plots a tick mark whenever one underlying currency score is above zero and the other is below zero, in the direction of the pair score. Scanning the Forex Pair Strength Score in RadarScreen RadarScreen gives us the opportunity to see all 28 forex pairs together so we can sort and rank these pairs by their Strength Score. In the RadarScreen window in figure 5, we can see that the GBPCAD has the strongest Strength Score, using a daily bar interval; CADCHF has the weakest. Colors are used in the RadarScreen cells to help identify several conditions: Green font = Strength Score is positive. Red font = Strength Score is negative. Green background = Strength Score is positive and base currency Strength Score is positive and quote currency Strength Score is negative. That is, the individual Strength Scores agree with the positive Strength Score of the pair. Red background = Strength Score is negative and base currency Strength Score is negative and quote currency Strength Score is positive. That is, the individual Strength Scores agree with the negative Strength Score of the pair. Forex Pair Performance Strength Score Page 6 of 10

7 Figure 5: RadarScreen Window with Pairs Sorted by Strength Score Traders might use this data to explore taking a long position in one of the stronger pairs and a short position in one of the weaker, using the background color to confirm that the Strength Score of the long currency of each trade is trending up and the Strength Score of the short currency in each trade is trending down. You may also want to make sure the two pairs are not overly correlated. In this case, you would probably not want to trade both GBPCAD (long/strongest) and CADCHF (short/weakest), as both symbols contain CAD. It might be better to find a non-cad pair for this. In this sample RadarScreen, the weakest non-cad (and non-gbp) pair is the NZDCHF, which might be a good alternative short candidate. Note: For a discussion of forex correlation and tools for monitoring it, see the Analysis Concepts paper titled Understanding and Using Correlation Analysis. Indicators There are three indicators provided with this Analysis Concepts paper. 1. TSL: FX Strength Score RS 2. TSL: FX Pairs Strength Score CH 3. TSL: FX Currency Strength Score CH Forex Pair Performance Strength Score Page 7 of 10

8 Calculation procedure note: In order to process the intensive calculations and data requirements of these indicators more efficiently, the indicator values and plots update every 10 seconds and not every tick. Indicator -- TSL: FX Strength Score RS The TSL: FX Strength Score RS indicator calculates and plots the Strength Score across all 28 major currency pairs in RadarScreen. This indicator will not work in the Quotes window. Plot Score Description Plots the Strength Score for a currency pair. Input Default Description MoLength 13 The number of bars used to calculate the momentum percent value BarsToLoad 126 The number of bars of historical data to load; this value should be at least double the MoLength Input plus 100 bars to match the data loaded into each row. Note: The indicator also loads an additional 150 bars of historical data automatically to stabilize the calculations when needed. Always double check that the RadarScreen values match the values in charting. If they do not, you may need to add additional bars of historical data. Indicator -- TSL: FX Pairs Strength Score CH The TSL: FX Pairs Strength Score CH indicator is the charting version of the RadarScreen indicator above. It plots the Strength Score for any of the 28 calculated forex pairs historically and in real time. Plot Score Description Plots the Strength Score for a currency pair. Input Default Description MoLength 13 The number of bars used to calculate the momentum percent value. BarsToLoad 500 The number of bars of historical data to load; this value should be the same as the number of bars loaded into the chart. Indicator -- TSL: FX Currency Strength Score CH The TSL: FX Currency Strength Score CH indicator plots the strength score for the two underlying currencies that make up the forex pair in the chart. The indicator will plot all eight underlying currencies if the symbol in the chart is not one of the 28 calculated forex pairs. Plot There are two plots; plot names vary based on the pair in the chart. Description Plots the individual Strength Scores of the two currencies in a pair. Forex Pair Performance Strength Score Page 8 of 10

9 Input Default Description MoLength 13 The number of bars used to calculate the momentum percent value. BarsToLoad 500 The number of bars of historical data to load; this value should be the same as the number of bars loaded into the chart. Data note: All of the indicators discussed in this document operate on a fixed set of symbols that cannot be changed. The 28 forex cash pair symbols are: AUDCAD AUDCHF AUDJPY AUDNZD AUDUSD CADCHF CADJPY CHFJPY EURAUD EURCAD EURCHF EURGBP EURJPY EURNZD EURUSD GBPAUD GBPCAD GBPCHF GBPJPY GBPNZD GBPUSD NZDCAD NZDCHF NZDJPY NZDUSD USDCAD USDCHF USDJPY Conclusion The Forex Pair Performance Strength Score presented in this paper uses the most basic principles of momentum and relative strength to produce a detailed look into the interrelated dynamics of the cash forex market. It can provide a high-level overview of how each currency is performing relative to the others, identify which currencies may be in trends that are accelerating or decelerating, and provide a number of useful data points and visuals to encourage new trading ideas and models to explore. Of course, a technical tool such as this is only one part of a comprehensive forex trading plan. The primary application of the Strength Score concept is symbol selection: that is, identifying those symbols that have the greatest potential based on their relative ranking and performance within the group of 28 symbols. Tracking the trend of the Strength Score can also be useful in developing entry and exit rules. Longer-term trend traders can utilize this concept on daily or weekly bar intervals and adjust the length input for the momentum calculation as desired. Remember, however, that longer input values tend to exaggerate the indicator lag effect. Intraday traders can use multiple time frames/intervals (intraday, daily, weekly) to gauge and confirm the mode or direction of a currency and then use that information to develop or augment intraday trading decisions. One possibility for further development of the Strength Score is to track over time changes in the relative ranking of each symbol compared to the others. This ranking could be displayed over a historical period to monitor the relative movement of each symbol within the list. This would allow the trader to more easily see which symbols were moving up and down within the list, determine how long a symbol had been at a specific level, and better identify trend reversals and rotations of strength. Forex Pair Performance Strength Score Page 9 of 10

10 All support, education and training services and materials on the TradeStation website are for informational purposes and to help customers learn more about how to use the power of TradeStation software and services. No type of trading or investment advice is being made, given or in any manner provided by any TradeStation affiliate. This material may also discuss in detail how TradeStation is designed to help you develop, test and implement trading strategies. However, TradeStation does not provide or suggest trading strategies. We offer you unique tools to help you design your own strategies and look at how they could have performed in the past. While we believe this is very valuable information, we caution you that simulated past performance of a trading strategy is no guarantee of its future performance or success. We also do not recommend or solicit the purchase or sale of any particular securities or derivative products. Any symbols referenced are used only for the purposes of the demonstration, as an example not a recommendation. Finally, this material may discuss automated electronic order placement and execution. Please note that even though TradeStation has been designed to automate your trading strategies and deliver timely order placement, routing and execution, these things, as well as access to the system itself, may at times be delayed or even fail due to market volatility, quote delays, system and software errors, Internet traffic, outages and other factors. TradeStation Group, Inc. Affiliates: All proprietary technology in TradeStation is owned by TradeStation Technologies, Inc. Equities, equities options, and commodity futures products and services are offered by TradeStation Securities, Inc. (Member NYSE, FINRA, NFA and SIPC). TradeStation Securities, Inc. s SIPC coverage is available only for equities and equities options accounts. Forex products and services are offered by TradeStation Forex, a division of IBFX, Inc. (Member NFA). Copyright TradeStation Group, Inc. Forex Pair Performance Strength Score Page 10 of 10

Forex Pair Performance Strength Score

Forex Pair Performance Strength Score Forex Pair Performance Strength Score Michael Burke Vice-president of Client Training and Education TSLabs@TradeStation.com Features Studies/Files Included: Focus: Technical Indicators Markets: Forex Workspace

More information

INVESTMENT INSTRUMENT SPECIFICATIONS SPOT FX

INVESTMENT INSTRUMENT SPECIFICATIONS SPOT FX INVESTMENT INSTRUMENT SPECIFICATIONS SPOT FX Citypoint Trading Limited is a company registered in England and Wales under registration no. 6707165 and authorised and regulated by the Financial Conduct

More information

Introduction to Forex Trading

Introduction to Forex Trading Introduction to Forex Trading The Leader in Rule-Based Trading 1 Important Information and Disclaimer: TradeStation Securities, Inc. seeks to serve institutional and active traders. Please be advised that

More information

Getting Started With Forex Trading: A Forex Primer. Member NASD, NYSE, SIPC, and NFA

Getting Started With Forex Trading: A Forex Primer. Member NASD, NYSE, SIPC, and NFA Getting Started With Forex Trading: A Forex Primer Member NASD, NYSE, SIPC, and NFA 1 Important Information and Disclaimer: TradeStation Securities, Inc. seeks to serve institutional and active traders.

More information

An Overview of the Fibozachi FOREX Force : A FOREX Command Center Page 3. Fibozachi FOREX Force : A Birds-Eye View of the FX Market Page 5

An Overview of the Fibozachi FOREX Force : A FOREX Command Center Page 3. Fibozachi FOREX Force : A Birds-Eye View of the FX Market Page 5 An Overview of the Fibozachi FOREX Force : A FOREX Command Center Page 3 Fibozachi FOREX Force : A Birds-Eye View of the FX Market Page 5 The Hierarchy of Currencies: Reverse Symbols Explained Page 7 The

More information

Contract Specifications 2015 Mini Trading Account

Contract Specifications 2015 Mini Trading Account Forex Currency Pairs Australian Dollar / Canadian Dollar (AUDCAD@) Australian Dollar / Swiss Franc (AUDCHF@) Australian Dollar / Japanese Yen (AUDJPY@) Australian Dollar / New Zealand Dollar (AUDNZD@)

More information

Learn to Trade FOREX II

Learn to Trade FOREX II Lesson 1 The Forex Market The Foreign Exchange market, also referred to as the "FX market" or "Spot FX", is the largest financial market in the world with daily average turnover of US$1.9 trillion. Unlike

More information

Introduction to Forex Trading

Introduction to Forex Trading Introduction to Forex Trading The Leader in Rule-Based Trading 1 Important Information and Disclaimer: TradeStation Securities, Inc. seeks to serve institutional and active traders. Please be advised that

More information

Transaction Cost. AETOS Capital Group (UK) Limited. May 2016 V20160503

Transaction Cost. AETOS Capital Group (UK) Limited. May 2016 V20160503 AETOS Capital Group (UK) Limited May 2016 V20160503 Product Symbol Tick Value Swap Rate - Swap Rate - LONG 2 SHORT 2 Typical Margin Spread 3 FOREX Australian Dollar vs U.S. Dollar AUDUSD 10.0USD 0.50%

More information

Contract Specifications 2015 Dynamic STP Trading Account

Contract Specifications 2015 Dynamic STP Trading Account Forex Currency Pairs (Online Trading Platform Symbol) 2 Minimum Price Fluctuation Tick / Point Value Pip Value Australian Dollar / Canadian Dollar (AUDCAD# / AUDCAD ) AUD 00,000 0.0000 CAD CAD 0 Australian

More information

Live Trading Webinar and Daily Trading Plan Setups Log

Live Trading Webinar and Daily Trading Plan Setups Log This spreadsheet labels entry times as well as trade entry type for easy review. These are the actual trade calls that we give out in the US Open Live Trading Webinar and the Daily Trading Plan we Starting

More information

CROSS PAIRS CURRENCY GUIDE

CROSS PAIRS CURRENCY GUIDE CROSS PAIRS CURRENCY GUIDE AUD/CAD Australia/Canada 1.0781/0.9920 84.3 AUD/USD, AUD/CHF, USD/CAD AUD/CAD Daily Chart from January 1, 2012 to December 31, 2012 on the FXDD Swordfish Platform. 1.076 1.064

More information

FX Margin Update 26 August, 2016

FX Margin Update 26 August, 2016 FX Margin Update 26 August, 2016 The margin requirement (MMR) for a specific currency pair is calculated as a percentage of the notional value of such pair. As the exchange rates for any specific currency

More information

SPOT FX Trading Strategies. Copyright Powerup Capital Sdn Bhd

SPOT FX Trading Strategies. Copyright Powerup Capital Sdn Bhd SPOT FX Trading Strategies Currency Codes USD = US Dollar EUR = Euro JPY = Japanese Yen GBP = Great Britian Pound CHF = Swiss Franc CAD = Canadian Dollar AUD = Australian Dollar NZD = New Zealand Dollar

More information

DEALING HANDBOOK FOR FX TRADERS

DEALING HANDBOOK FOR FX TRADERS DEALING HANDBOOK FOR FX TRADERS ONLINE TRADING Trading on the QuestradeFX platforms is available 24hrs a day from 5pm ET Sundays through 5pm ET Fridays. Clients have the ability to execute trades directly

More information

Phone: 1800 886 514 (Press '1' for Trade Desk or '2' for Enquiries)

Phone: 1800 886 514 (Press '1' for Trade Desk or '2' for Enquiries) POPULAR MARKETS Market Name Brackets = Out of Hours Spread 24hr Fixed Spread Contract Value per Index Point/Pip Margin per Unit Trade Per Phone: 1800 886 514 AUD/USD 0.8 (0.8) $1 0.50% 0.0001 Open Monday

More information

FOREX Markets & Trading Currencies

FOREX Markets & Trading Currencies FOREX Markets & Trading Currencies Updates Tonight: FOREX & Demonstra1on of thinkorswim pla9orm Next Week: Stock & Op*ons Trading 101 on March 3 rd Execu1ve Board Applica1ons out now Apply for COO & CMO

More information

Forex Spreads for Classic Accounts Majors. Forex Spreads for Advantage Accounts Majors

Forex Spreads for Classic Accounts Majors. Forex Spreads for Advantage Accounts Majors Forex Spreads for Classic Accounts Exotics EURUSD 1.3 pips USDCAD 2 pips AUDNZD 6 pips USDHUF 23 pips USDJPY 1.3 pips GBPUSD 2.1 pips EURDKK 6 pips EURHUF 23 pips AUDUSD 1.7 pips EURJPY 2.1 pips EURNZD

More information

The Currency Cross Trader

The Currency Cross Trader A Publication of The Sovereign Society The Currency Cross Trader Quick Start Guide The Sovereign Society 55 N.E. 5th Avenue, Suite 200 Delray Beach, FL 33283 USA USA Toll Free Tel: (888) 358-8125 Contact:

More information

Live Trading Webinar and Daily Trading Plan Setups Log

Live Trading Webinar and Daily Trading Plan Setups Log This spreadsheet labels entry times as well as trade entry type for easy review. These are the actual trade calls that we give out in the US Open Live Trading Webinar and the Daily Trading Plan we Starting

More information

Chapter 1.2. Currencies Come in Pairs

Chapter 1.2. Currencies Come in Pairs Chapter 1.2 Currencies Come in Pairs 0 GETTING STARTED You know the advantages of trading forex, and you are excited to start trading. Now you need to learn what this market is all about. How does it work?

More information

Symbol Instrument name Trading hours in CET Currencies AUDCAD Australian Dollar to Canadian Dollar 24h from Sunday 11:00pm to Friday 10:00 pm AUDCHF

Symbol Instrument name Trading hours in CET Currencies AUDCAD Australian Dollar to Canadian Dollar 24h from Sunday 11:00pm to Friday 10:00 pm AUDCHF Symbol Instrument name Trading hours in CET Currencies AUDCAD Australian Dollar to Canadian Dollar 24h from Sunday 11:00pm to Friday 10:00 pm AUDCHF Australian Dollar to Swiss Frank 24h from Sunday 11:00pm

More information

Margin Foreign Exchange

Margin Foreign Exchange SCHEDULE DATED 26 MAY 2015 RELATING TO THE PRODUCT DISCLOSURE STATEMENT DATED 26 MAY 2015 FOR MARGIN FOREIGN EXCHANGE AND FOREIGN EXCHANGE OPTIONS ISSUED BY HALIFAX NEW ZEALAND LIMITED Halifax New Zealand

More information

Trading Forex. TradeStation. with. michael burke and jesus nava

Trading Forex. TradeStation. with. michael burke and jesus nava Trading Forex with TradeStation michael burke and jesus nava Trading Forex with TradeStation contents The Forex Market...1 Who Trades Forex...1 Benefits of Trading Forex...2 Risks Associated with Forex

More information

Swap Value in Points** As low as Average Long Short

Swap Value in Points** As low as Average Long Short SPREADS AND CONDITIONS FOR STANDARD ACCOUNTS FOREX - Foreign Exchange Instruments Currency Pair Minimum Price Fluctuation Spreads* Swap Value in Points** As low as Average Long Short Value of 1 lot Limit

More information

The purpose of this ebook is to introduce newcomers to the forex marketplace and CMTRADING. Remember that trading in forex is inherently risky, and

The purpose of this ebook is to introduce newcomers to the forex marketplace and CMTRADING. Remember that trading in forex is inherently risky, and The purpose of this ebook is to introduce newcomers to the forex marketplace and CMTRADING. Remember that trading in forex is inherently risky, and you can lose money as well as make money. Manage your

More information

Chapter 1.2. Currencies Come in Pairs

Chapter 1.2. Currencies Come in Pairs Chapter 1.2 Currencies Come in Pairs 0 GETTING STARTED You know the advantages of trading forex, and you are excited to start trading. Now you need to learn what this market is all about. How does it work?

More information

The World s Elite Trading School. The Trusted Source for Online Investing and Day Trading Education Since 1994. What is a Forex?

The World s Elite Trading School. The Trusted Source for Online Investing and Day Trading Education Since 1994. What is a Forex? What is a Forex? Forex is the market where one currency is traded for another Unlike stocks and futures exchange, foreign exchange is indeed an interbank, over-the-counter (OTC) market which means there

More information

AUTOCHARTIST TRADE IDEAS

AUTOCHARTIST TRADE IDEAS A QUICK START GUIDE AUTOCHARTIST TRADE IDEAS Sometimes, it s hard to know what to trade. Even if you do your research, you may still wonder if the trade you set up will go the way you want. Now, you can

More information

This proposal is for the internal purposes of the recipient and its management only. The material is property of FXCM and its content cannot be

This proposal is for the internal purposes of the recipient and its management only. The material is property of FXCM and its content cannot be FXCM Profile Introduction FXCM is a NYSE-listed online provider of foreign exchange trading. During 2010, FXCM s total revenues were over $360 million USD. We have over 750 employees globally. FXCM executes

More information

MAJOR PAIRS CURRENCY GUIDE

MAJOR PAIRS CURRENCY GUIDE MAJOR PAIRS CURRENCY GUIDE EUR/ Eurozone/ 1.3385/1.2041 107.4 EUR/CAD, EUR/AUD, NZD/ EUR/ Weekly Chart from January 1, 2012 to December 31, 2012 on the FXDD Swordfish Platform. 1.340 1.320 1.300 1.280

More information

CURRENCY PAIRS GUIDE

CURRENCY PAIRS GUIDE CURRENCY PAIRS GUIDE GLOBAL Trading in the foreign exchange markets on margin carries a high level of risk, and may not be suitable for all individuals. FXDD provides this information as an educational

More information

INTRODUCING BROKER PROSPECTUS

INTRODUCING BROKER PROSPECTUS INTRODUCING BROKER PROSPECTUS Index Executive Overview Retail Forex: An Unmissable Opportunity About Titan FX What is an Introducing Broker? Why partner with Titan FX? Benefits of becoming a Titan FX Introducing

More information

Maverick FX Trading. Forex 101 Session #2 Forex Market Basics

Maverick FX Trading. Forex 101 Session #2 Forex Market Basics Maverick FX Trading Forex 101 Session #2 Forex Market Basics Session #1 Review How the currency market works Pairs Trading Building a Trading Plan Session #2 Schedule Understanding PIPs Margin, Margin

More information

The GridTrading EasyLanguage Application

The GridTrading EasyLanguage Application The GridTrading EasyLanguage Application By Peter Parandjuk Vice President and Chief Architect of Advanced Trading Technologies pparandjuk@tradestation.com Important Disclosures All support, education

More information

1 P a g e Questions or comments? Contact us at TSLabs@TradeStation.com

1 P a g e Questions or comments? Contact us at TSLabs@TradeStation.com The Fundamental Score Indicator is an analysis technique created to analyze stocks strictly based on certain financial ratios of the company. The score ranges between 0 and 100, with a higher score signifying

More information

Instrument Tick Value* Tick Size Currency Trading Days Trading Hours Contract size (1 lot) Notes Financing Charges Spot FX AUD/USD USD 1.0 0.

Instrument Tick Value* Tick Size Currency Trading Days Trading Hours Contract size (1 lot) Notes Financing Charges Spot FX AUD/USD USD 1.0 0. FX Instrument Tick Value* Tick Size Currency Trading Days Trading Hours Contract size (1 lot) Notes Financing Charges Spot FX AUD/USD USD 1.0 0.00001 USD Sun- Fri 17:05-17:00 (EST) 100 000 Min trade size

More information

Key Reversal Patterns Using Kase Bars

Key Reversal Patterns Using Kase Bars Issue 3 Wednesday, August 13, 2014 Key Reversal Patterns Using Kase Bars Michael Burke VP, Client Training and Education TSLabs@TradeStation.com Features Studies/Files Included: Strategy Style: Bar pattern

More information

Dual Currency Investment. Product Sheet

Dual Currency Investment. Product Sheet Dual Investment Product Sheet 2 Dual Investment Product Sheet This Product Sheet must be read in conjunction with the Dual s and Conditions and the Dual Investment Mandate which contains a Product Checklist

More information

TRADING RULES ONLINE FX AND PRECIOUS METAL Effective August 10, 2015

TRADING RULES ONLINE FX AND PRECIOUS METAL Effective August 10, 2015 TRADING RULES ONLINE FX AND PRECIOUS METAL Effective August 10, 2015 PRODUCTS Contract Size EUR/USD EUR 100,000 USD/JPY USD 100,000 GBP/USD GBP 100,000 USD/CHF USD 100,000 AUD/USD AUD 100,000 NZD/USD NZD

More information

Updated Margin Requirements

Updated Margin Requirements Updated Margin Requirements Table of Contents 1. Schedule... 2 1.1 Timeline of Events... 2 2. Margin Requirements... 3 2.1 Margin Requirements for USD Account Denomination... 3 2.2 Margin Requirements

More information

FOREX TRADE PLAN. Happy Pants, Ducks. Rred & Hordane

FOREX TRADE PLAN. Happy Pants, Ducks. Rred & Hordane FOREX TRADE PLAN Happy Pants, Ducks Trading can be summed up in one sentence: Enter a trade in the direction of the trend when a pull-back is complete. Rred & Hordane FOREX TRADE PLAN Happy Pants, Ducks

More information

Evaluation of Super Trend indicator s parameters for major FOREX pairs over 12 years

Evaluation of Super Trend indicator s parameters for major FOREX pairs over 12 years Evaluation of Super Trend indicator s parameters for major FOREX pairs over 12 years Dr. Sven Olaf Schmidt 1 1 Germany, Munich, Email: scientific trading@web.de August 2011. Abstract The Super Trend indicator

More information

DAILY SNAPSHOT 23.05.2016

DAILY SNAPSHOT 23.05.2016 AUDJPY 0 9 AUDNZD 1 8 AUDUSD 2 7 EURCAD 5 4 EURGBP 3 7 EURJPY 2 7 EURUSD 4 5 GBPCHF 9 1 GBPJPY 4 5 GBPUSD 8 1 NZDUSD 3 7 USDCAD 6 4 USDCHF 8 2 USDJPY 4 5 DISCLAIMER Forex-AnalysisBlog.com is offered on

More information

FX Currency Strength Radar Manual

FX Currency Strength Radar Manual C O D I N G T R A D E R. C O M FX Currency Strength Radar Manual Version 1.00 Table of Contents FX Currency Strength Radar... 1 What is FX Currency Strength Radar?... 2 Installation... 3 Configurations...

More information

What Are the Best Times to Trade for Individual Currency Pairs?

What Are the Best Times to Trade for Individual Currency Pairs? What Are the Best Times to Trade for Individual Currency Pairs? By: Kathy Lien The foreign exchange market operates 24 hours a day and as a result it is impossible for a trader to track every single market

More information

Basic Forex Trading Guide

Basic Forex Trading Guide FinancialTradingMadeSimple BasicForexTradingGuide Aboutthisguide IfthisisyourfirsttimecomingacrosstheonlineForexmarket,thenyou vecometotheright place. Thisguidewillprovideyouwiththebasicknowledge,toolsandtechniquesanoviceForex

More information

The foreign exchange market operates 24 hours a day and as a result it

The foreign exchange market operates 24 hours a day and as a result it CHAPTER 5 What Are the Best Times to Trade for Individual Currency Pairs? The foreign exchange market operates 24 hours a day and as a result it is impossible for a trader to track every single market

More information

Guide to Online Forex Trading

Guide to Online Forex Trading Start Trading and Making Money in Forex WebTrader and MetaTrader If this is your first time coming across the online Forex market, then you have come to the right place! This guide will provide you with

More information

DEALING HANDBOOK FOR FX TRADERS

DEALING HANDBOOK FOR FX TRADERS DEALING HANDBOOK FOR FX TRADERS ONLINE TRADING Trading on the QuestradeFX platforms is available 24hrs a day from 5pm ET Sundays through 5pm ET Fridays. Clients have the ability to execute trades directly

More information

LMAX Exchange, UK s No.1 fastest growing technology firm in The Sunday Times 2014 Tech Track 100. A unique vision for global FX

LMAX Exchange, UK s No.1 fastest growing technology firm in The Sunday Times 2014 Tech Track 100. A unique vision for global FX LMAX Exchange, UK s No.1 fastest growing technology firm in The Sunday Times 2014 Tech Track 100 * A unique vision for global FX F C A A U T H O R I S E D & R E G U L A T E D M T F F O R G L O B A L F

More information

The Intraday Bias Indicator

The Intraday Bias Indicator Wednesday, June 13, 2012 Issue 41 Wednesday, August 8, 2012 Intraday Time Analysis Erik Skyba, CMT Senior Quantitative Analyst TSLabs@TradeStation.com Features Studies/Files Included: Focus: Technical

More information

Galvan Derivative Trading - CFD Market Information Sheets

Galvan Derivative Trading - CFD Market Information Sheets Galvan Derivative Trading - CFD Market Information Sheets Effective from: 28th July 2008 Contents Introduction 1 Indices 2 Shares 3 Sectors 4 Currencies 5 Metals 6 Commodities 7 Bonds 8 Interest rates

More information

Basket Method Made Easy!

Basket Method Made Easy! Trader101's Basket Method Made Easy! Retold by Icicle, with help from Nubchai, Alex84, Cliffedwards and Slade.[0] THE PHANTOM MENACE Set up a demo account (tutorials below [1]). This ghost account will

More information

The Off-the-Radar Currency Trades That 90% of Traders Miss

The Off-the-Radar Currency Trades That 90% of Traders Miss The Off-the-Radar Currency Trades That 90% of Traders Miss By Sean Hyman, Editor, Currency Cross Trader My Favorite Way to Fire the U.S. Dollar Why We Trade Currency Crosses When you go to a restaurant,

More information

Best Times to Trade Forex

Best Times to Trade Forex Best Times to Trade Forex The Forex Market The forex market is the largest financial market in the world, trading around $3.1 trillion each day. (Every three years, the Bank of International Settlements

More information

- INTRODUCTION - TIME & PRICE - CORRELATION - FOREX RANKING - FOREX BASKET ARBITRAGE - FX-QUANT

- INTRODUCTION - TIME & PRICE - CORRELATION - FOREX RANKING - FOREX BASKET ARBITRAGE - FX-QUANT 1 - INTRODUCTION - TIME & PRICE - CORRELATION - FOREX RANKING - FOREX BASKET ARBITRAGE - FX-QUANT 2 Which Trend line is correct? 3 What is the value of a 45 degree trendline when you have charts with different

More information

BEST TIMES TO TRADE THE FOREX MARKET

BEST TIMES TO TRADE THE FOREX MARKET BEST TIMES TO TRADE THE FOREX MARKET The forex market is the largest financial market in the world, trading around $3.1 trillion each day. (Every three years, the Bank of International Settlements (BIS)

More information

Authorised and regulated by the Financial Services Authority, members of the NFA in the USA and regulated by ASIC in Australia

Authorised and regulated by the Financial Services Authority, members of the NFA in the USA and regulated by ASIC in Australia FX TRADING GUIDE June 2006 Authorised and regulated by the Financial Services Authority, members of the NFA in the USA and regulated by ASIC in Australia Copyright 2006 CMC Markets, 66 Prescot Street,

More information

CFDs Market Information

CFDs Market Information CFDs Information General notes i) All details are correct at time of going to press. ii) London Capital Group Ltd reserves the right, at its sole discretion, to alter the contract specifications at anytime

More information

ActTrader Forex Trading Guide

ActTrader Forex Trading Guide ActTrader Forex Trading Guide If this is your first time coming across the online Forex market, then you have come to the right place! This guide will provide you with the basic knowledge, tools and techniques

More information

International Academy of Exchange Trading. Lesson 2: Forex lowdown

International Academy of Exchange Trading. Lesson 2: Forex lowdown Contents Lesson 1: All you need is... Lesson 3: Leverage (a little help from your friends) Lesson 4: Orders Lesson 5: A beginner s guide to technical analysis Lesson 6: Technical indicators Lesson 7: Fundamental

More information

Q1.1.1 What is Foreign Exchange and Precious Metal Margin Trading Services?

Q1.1.1 What is Foreign Exchange and Precious Metal Margin Trading Services? FAQs (Updated: 09-Oct 2015) Table of Contents 1. General 1.1 General 1.2 Orders 1.3 Collateral/Settlement Account 2. Cyberbanking Related Questions 3. Trading Platform Related Questions 4. Technical Questions

More information

Chapter 1 Influence Networks in the Foreign Exchange Market

Chapter 1 Influence Networks in the Foreign Exchange Market Chapter 1 Influence Networks in the Foreign Exchange Market Arthur M.Y.R. Sousa, Hideki Takayasu, and Misako Takayasu Abstract The Foreign Exchange Market is a market for the trade of currencies and it

More information

Forex Basics brought to you by MatrasPlatform.com

Forex Basics brought to you by MatrasPlatform.com Forex Basics brought to you by MatrasPlatform.com Table of Content What is FOREX... 3 FOREX Basics... 4 Trading Hours... 4 What Is Traded on FOREX?... 4 The Six Majors... 4 Currency Pair Distribution...

More information

Intro to Forex and Futures

Intro to Forex and Futures Intro to Forex and Futures 1 Forex Trading Forex is a term meaning foreign exchange, and refers to trading the currency of one country against the currency from another country simultaneously. Over $1.4

More information

Subscriber s Guide The DT Daily Forex Report How To Access The Reports DT Just-In-Time Service For The Intermediate and Long Term Position

Subscriber s Guide The DT Daily Forex Report How To Access The Reports DT Just-In-Time Service For The Intermediate and Long Term Position Subscriber s Guide The DT Daily Forex Report The DT Daily Forex Report is for swing and short term traders who look for positions that typically last at least a few days and day traders who key off the

More information

Scandinavian. Exotic and Emerging

Scandinavian. Exotic and Emerging MARKET INFORMATION SPREAD BETTING MARKETS FOREX Majors spread Unit risk AUDUSD 0.50 0.000 3 0 2 EURCHF 2 0.50 0.000 N/A 0 2 EURGBP 0. 0.50 0.000 3 0 2 EURJPY.6 0.50 0.0 3 0 2 EURUSD 0. 0.50 0.000 3 0 2

More information

Session #3 Finding Relative Strength/Weakness

Session #3 Finding Relative Strength/Weakness Session #3 Finding Relative Strength/Weakness Legal Disclosure Trading Currencies may involve high risk and, potentially, the loss of any funds invested. Investment information provided may not be appropriate

More information

Carry Trade Explained What Is the Carry Trade?

Carry Trade Explained What Is the Carry Trade? I The Forex Trading Formula Carry Trade Triad Trading Formula - The Introduction Carry Trade Carry Trade Explained What Is the Carry Trade? The carry trade is a trading strategy in which you simultaneously

More information

Vanilla FX OTC Options with Saxo Bank

Vanilla FX OTC Options with Saxo Bank Vanilla FX OTC Options with Saxo Bank Introduction Saxo Bank s proposition to FX options traders is truly unique. Thanks to the quality and depth of the analytics provided, the width of the product offering,

More information

TRAITS OF SUCCESSFUL TRADERS: a four part series

TRAITS OF SUCCESSFUL TRADERS: a four part series TRAITS OF SUCCESSFUL TRADERS: a four part series Research & Analysis: DailyFX Over the past several months, the DailyFX research team and the DailyFX trading instructors have been closely studying the

More information

FOREX. made easy. UNDERSTANDING THE BASICS. An educational tool by Blackwell Global.

FOREX. made easy. UNDERSTANDING THE BASICS. An educational tool by Blackwell Global. FOREX made easy UNDERSTANDING THE BASICS. An educational tool by Blackwell Global. Risk Warning: Forex and CFDs are leveraged products and you may lose your initial deposit as well as substantial amounts

More information

Maverick FX Trading. Forex 101 Session #4 Preparation for Demo Trading

Maverick FX Trading. Forex 101 Session #4 Preparation for Demo Trading Maverick FX Trading Forex 101 Session #4 Preparation for Demo Trading Session #3 Review Time frames Relative Strength/Weakness Determine Strong/Weak News Events Correlations Session #4 Schedule Demo Account

More information

TrueFX Market Data Web API

TrueFX Market Data Web API TrueFX Market Data Web API Developer Guide The TrueFX Market Data Web API is a simple HTTP query/response protocol used by clients to access rates from TrueFX. Connecting to TrueFX Clients use HTTP queries

More information

INTRODUCTION. This program should serve as just one element of your due diligence.

INTRODUCTION. This program should serve as just one element of your due diligence. FOREX ONLINE LEARNING PROGRAM INTRODUCTION Welcome to our Forex Online Learning Program. We ve always believed that one of the best ways to protect investors is to provide them with the materials they

More information

FOREX CURRENCY FORECAST (2015-2016)

FOREX CURRENCY FORECAST (2015-2016) 2750 14th Avenue, Suite 30 Markham Ontario, Canada, L3R 0B Fax: 1.8.20.1740 FOREX CURRENCY FORECAST (2015-201) FOREX MAJORS (USD) 2015 201 SPOT Q1f Q2f Q3f Q4f Q1f Q2f Q3f Q4f Canadian Dollar USD/CAD 1.27

More information

$TICK - Tock - Testing the NYSE TICK Index

$TICK - Tock - Testing the NYSE TICK Index Issue 12 Tuesday November 16, 2010 $TICK - Tock - Testing the NYSE TICK Index By Erik Skyba, CMT Senior Market Technician, TradeStation Labs TSLabs@TradeStation.com Focus Technical Study Markets Equities

More information

Factsheets for currency traders

Factsheets for currency traders Factsheets for currency traders KEY HIGHLIGHTS FOR THE MAJOR CURRENCIES A FOREX.com educational guide FOREX.com is a trading name of GAIN Capital - FOREX.com Canada Limited is a member of the Investment

More information

Forex Trading Guide & Tutorial For Beginner

Forex Trading Guide & Tutorial For Beginner Forex Trading Guide & Tutorial For Beginner Copyright FCMarket.com Website : http://www.fcmarket.com Email : info@fcmarket.com WARNING : You may not modify, copy, distribute, display, reproduce, publish,

More information

FOREX CURRENCY FORECAST (2015-2016)

FOREX CURRENCY FORECAST (2015-2016) 2750 14th Avenue, Suite 30 Markham Ontario, Canada, L3R 0B Fax: 1.8.20.1740 FOREX CURRENCY FORECAST (2015-201) FOREX MAJORS (USD) 2015 201 SPOT Q1a Q2f Q3f Q4f Q1f Q2f Q3f Q4f Canadian Dollar USD/CAD 1.27

More information

FOREX PLATFORM USER S GUIDE

FOREX PLATFORM USER S GUIDE FOREX PLATFORM USER S GUIDE Table of Content 1. Introduction... 2 2. Top Menu Bar... 2 3. Distinguishing Features of the Forex Platform... 3 3.1 Market Orders... 3 3.2 Trailing Stops... 4 3.3 Margin Watcher...

More information

The foreign exchange market is global, and it is conducted over-the-counter (OTC)

The foreign exchange market is global, and it is conducted over-the-counter (OTC) FOREIGN EXCHANGE BASICS TERMS USED IN FOREX TRADING: The foreign exchange market is global, and it is conducted over-the-counter (OTC) through the use of electronic trading platforms, or by telephone through

More information

Product Disclosure Statement (PDS)

Product Disclosure Statement (PDS) Product Disclosure Statement (PDS) Last updated: January 29, 2015 IMPORTANT INFORMATION AND DISCLAIMER General Information IBFX Australia Pty Ltd ABN 84 142 210 179 ("IBFX", "we", "us" and "our") is a

More information

Intraday spot foreign exchange market. Analysis of efficiency, liquidity and volatility.

Intraday spot foreign exchange market. Analysis of efficiency, liquidity and volatility. Intraday spot foreign exchange market. Analysis of efficiency, liquidity and volatility. Anna Serbinenko * Svetlozar T. Rachev Abstract Spot foreign exchange market today is the most volatile and liquid

More information

Currency Cross Trader

Currency Cross Trader A Publication of The Sovereign Society Currency Cross Trader Trading Manual The Sovereign Society 55 N.E. 5th Avenue, 2nd floor Delray Beach, FL 33283 USA USA Toll Free Tel: (888) 358-8125 Contact: http://sovereignsociety.com/contact-us

More information

INTRODUCTION TO FOREIGN EXCHANGE

INTRODUCTION TO FOREIGN EXCHANGE INTRODUCTION TO FOREIGN EXCHANGE Capademy Tutorial Series Option Banque Training Series Vol. 1 The foreign exchange market known as forex for short is the market in which currencies or sovereign money

More information

NEW TO FOREX? FOREIGN EXCHANGE RATE SYSTEMS There are basically two types of exchange rate systems:

NEW TO FOREX? FOREIGN EXCHANGE RATE SYSTEMS There are basically two types of exchange rate systems: NEW TO FOREX? WHAT IS FOREIGN EXCHANGE Foreign Exchange (FX or Forex) is one of the largest and most liquid financial markets in the world. According to the authoritative Triennial Central Bank Survey

More information

Chapter 4.1. Intermarket Relationships

Chapter 4.1. Intermarket Relationships 1 Chapter 4.1 Intermarket Relationships 0 Contents INTERMARKET RELATIONSHIPS The forex market is the largest global financial market. While no other financial market can compare to the size of the forex

More information

DAILY TECHNICAL REPORT

DAILY TECHNICAL REPORT RESEARCH TEAM DAILY TECHNICAL REPORT DISCLAIMER & DISCLOSURES Please read the disclaimer and the disclosures which can be found at the end of this report EUR / USD Moving higher. EUR/USD has been range-bound

More information

A New Hybrid Model for Intraday Spot Foreign Exchange Trading Accounting for Heavy Tails and Volatility Clustering

A New Hybrid Model for Intraday Spot Foreign Exchange Trading Accounting for Heavy Tails and Volatility Clustering A New Hybrid Model for Intraday Spot Foreign Exchange Trading Accounting for Heavy Tails and Volatility Clustering Anna Serbinenko* Svetlozar T. Rachev** *Chair of Statistics, Econometrics and Mathematical

More information

DAILY TECHNICAL REPORT

DAILY TECHNICAL REPORT RESEARCH TEAM DAILY TECHNICAL REPORT DISCLAIMER & DISCLOSURES Please read the disclaimer and the disclosures which can be found at the end of this report EUR / USD Selling pressures are still strong. EUR/USD

More information

AN INTRODUCTION TO THE FOREIGN EXCHANGE MARKET

AN INTRODUCTION TO THE FOREIGN EXCHANGE MARKET DUKASCOPY BANK SA AN INTRODUCTION TO THE FOREIGN EXCHANGE MARKET DUKASCOPY BANK EDUCATIONAL GUIDE AN INTRODUCTION TO THE FOREIGN EXCHANGE MARKET www.dukascopy.com CONTENTS INTRODUCTION TO FOREX CURRENCY

More information

An introduction to the foreign exchange market Moorad Choudhry September 2002

An introduction to the foreign exchange market Moorad Choudhry September 2002 An introduction to the foreign exchange market Moorad Choudhry September 2002 The market in foreign exchange is an excellent example of a liquid, transparent and immediate global financial market. Rates

More information

MetaTrader Forex Trading Guide

MetaTrader Forex Trading Guide MetaTrader Forex Trading Guide If this is your first time coming across the online Forex market, then you have come to the right place! This guide will provide you with the basic knowledge, tools and techniques

More information

When you do this, you have just participated in the Forex market! You've exchanged one currency for another.

When you do this, you have just participated in the Forex market! You've exchanged one currency for another. What is the Forex? If you've ever traveled to another country, you most likely had to find a currency exchange booth at the airport, and then exchange the money you have into the currency of the country

More information

ECONOMIC ROADBLOCKS FOR THE YEN p. 6

ECONOMIC ROADBLOCKS FOR THE YEN p. 6 ECONOMIC ROADBLOCKS FOR THE YEN p. 6 TRADING THE ASIAN session s predictable nature p. 18 TIME-ADJUSTING INTRADAY range and volume data p. 22 ROUGH SEAS AHEAD for dollar, Euro? p. 12 THE EFFECTS OF British

More information

Commitment of Traders How to Follow the Professionals

Commitment of Traders How to Follow the Professionals Commitment of Traders How to Follow the Professionals It's not the Holy Grail but the Commitment of Traders report gives an insight into valuations and what levels the Professionals consider over-bought

More information

Portfolio Back-Testing with Portfolio Maestro: Ranking and Money Management

Portfolio Back-Testing with Portfolio Maestro: Ranking and Money Management Part 2 Wednesday, June 12, 2013 Portfolio Back-Testing with Portfolio Maestro: Ranking and Money Management Frederic Palmliden, CMT Senior Quantitative Analyst TSLabs@TradeStation.com Summary Portfolio

More information

GETTING STARTED IN FOREX GLOBAL GETTING STARTED IN FOREX 1

GETTING STARTED IN FOREX GLOBAL GETTING STARTED IN FOREX 1 GETTING STARTED IN FOREX GLOBAL GETTING STARTED IN FOREX 1 TABLE OF CONTENTS Foreword Why Forex? Mechanics of Forex Trading Cash Flow in Trading Margin and Leverage Technical Analysis Fundamental Analysis

More information