Trading the News: U.S. Consumer Price Index (based on dailyfx article) U.S. Consumer Price Index to Slow for First Time in Four-Months, Core Inflation to Hold Steady at Annualized 1.6% A slowdown in...
Different Types of Forex Brokers (based on countingpips article)
ECN Forex Broker
ECN stands for electronic communications network. ECNs originated from the equities world and were used in stock trading in the US many are familiar with Archipelago ECN and Island ECN. The same concept is now used in the Forex trading world.
ECN is used to either match traders to each other or to match traders to a market provider. ECN brokers usually require a higher deposit amount in order for you to trade on that network. These amounts are usually between $25,000-$100,000 depending on the particular broker. ECN broker will also probably charge a per million commission rate to the trader.
STP Forex Broker
The STP here stands for straight through processing. These brokers will send the trade data and the account data through to another liquidity source. Clearing and settlement for the trades are done at this liquidity source. The STP Forex broker automates the entire trade process and limits manual intervention.
Market Makers are brokers that act in the capacity of a market maker broadcasts a price to his clients and is willing to assume the risk of the other side of the trade. During normal trading conditions the market maker may give instant execution and execution without any issues by during news events or economic events the broker may slow trading down disable trading or may have the climate have experience other issues.
EUR/USD Trendline Confluence Near 1.3800 is Possible Support
The EURUSD has broken out of the 5 month triangle. 1.3720 is the new pivot. As long as price is above 1.3720, focus is on the triangle target of 1.4368. The October 2011 high at 1.4247 is a possible reaction level.
Former resistance is now estimated support at 1.3813.
Algorithmic Trading: Winning Strategies and Their Rationale Praise for Algorithmic Trading "Algorithmic Trading is an insightful book on quantitative trading written by a seasoned practitioner. What...
Bitcoin Indonesia Beta Testing Full Open Exchange (based on forexminute article)
Bitcoin supporters in Indonesia are relieved as Bitcoin Indonesia is beta testing a full open exchange, trading around 30 BTC per day. Bitcoin economy in the country has gained strength recently as a lot of Bitcoin buying and selling services have commenced lately. Interestingly, the government of Indonesia still does not consider Bitcoin a currency
However, this policy on the part of the Indonesian government does not seem to have any impact on the Bitcoin companies as the scope and operation is expanding like never before. The latest decision from Bitcoin Indonesia according to Bitcoin supporters is an improvement on the 5 BTC per day the exchange reported at its launch back in December 2013.
In his statement, CEO and active local digital currency advocate Oscar Darmawan opined that his company aims to become a full-fledged open exchange; however, for that he says that volumes would need to improve first. Indonesia is competing with the other regional countries like Hong Kong and Singapore which have their own Bitcoin ATMs.
The interest in Bitcoin is reaching to new levels after it touched its peak in the last couple of months the last year where it traded above $1200. Now, it seems that as interest in Bitcoin and digital currency grows rapidly throughout Indonesia’s and Southeast Asia’s young and upwardly mobile population, new Bitcoin companies and exchanges will start their operations.
Bitcoin Indonesia Confident for Expanding and Reaching to New Markets
Currently, the entire focus of Bitcoin Indonesia is to do beta test for local traders and once confident the system works well, start a full-fledged exchange. In his statement to press Mr. Darmawan said that his company is launching its system and it is confident that the daily volume at least will reach 200 BTC daily in this semester.
According to the company sources so far, about 1,500 members already listed in the company’s database and everything running better than expected. Earlier, Mr. Darmawan met with local regulatory authorities to discuss Bitcoin. He has been a long term advocate of the digital currency and often appears on network TV in Jakarta.
Though Mr. Darmawan says that he intends to launch more services in the coming year, it will be seen what the Indonesia’s central bank, Bank Indonesia, thinks about his business as it had in the last month issued a new statement defining its stance on Bitcoin. In its statement the bank had then said that the virtual currency Bitcoin and others do not constitute currency or legal tender in Indonesia.
World’s First Litecoin and Dogecoin ATMs (based on forexminute article)
new Bitcoin ATMs on Monday. They will also be the world’s very first ATMs to support Litecoin and Dogecoin as well.
Also, the first ever Bitcoin ATMs in Mexico, these units will be placed at BIT Center, Tijuana. One of the ATMs will accept Mexican Pesos, while the other will accept only the US Dollars. Both the units will be operated by renowned startup Bitcoin42.
The startup is also making sure to do some philanthropy work by donating 10% of its collected profits to non-profit organizations. The step is probably in regard to mellow-up the government’s potential actions against the installation of these ATMs. Earlier, Bank of Mexico has warned people against the investment risks surrounded with Bitcoins.
“They do not have a relative penetration rate,” the bank said in a statement. “Public should be aware that these digital currencies are not legal. Their function as a means of payment is not guaranteed and businesses and other people are not obligated to accept them.”
However, the startups says, “We especially advocate for the use of crypto-currencies by non-profit organizations, so they can lower their administration costs. Through the use of crypto-currencies, non-profit organizations can get funds in a faster and more efficient way with the highest level of transparency. Through this, anybody can become a (truly) independent auditor, since one can provide information to verify balances and transactions and also allow the public to see how much in donations has been received and where it went.”
There is no information yet available on the transaction fees or ATM machine designs till now.