A individual Forex trader in Followme social trading network

[StraussX]

Hello guys, I'm StrausX. I have been a Forex trader for one year, I dare not say how experienced I am. But I did accumulate some experience. If you are a beginner, I'm willing to share it with you, avoiding to make mistakes. If you are a master in Fore trading, I hope to make friends and learn some skills whatever about analysis, trending signals...


Well, I'd like to introduce the platform that I used, Followme, because an excellent trading platform can bring me a lot of benefits and conveniences. when I first came into contact with Forex, I was very cautious and opened a Demo account in Followme, learning from other master traders. Also, there were Forex market trends, Forex strategy analysis, investment encyclopedia, Trading Q&A for me to learn. About 3 months later, I have known what Forex is, how to trade and how to use fundamentals to analyze Forex. So I opened a real account.

Nowadays, I do Forex trading myself, also I often do copy-trading by following other good traders. And I'm mainly concerned about the JPY and AUD because central banks from major countries including the Bank of Japan, the Reserve Bank of Australia, the Fed all released the signals of economic expansion tendency to stimulate the market.

Trading is a serious undertaking. I hope that each of us can develop a serious investment philosophy in the process of learning, while financially benefiting from trading properly.

 

[fibo_trader]

Teach us amigo, teach us, we are dying to learn but pray tell first, "how much?"

 

[StraussX]

Teach us amigo, teach us, we are dying to learn but pray tell first, "how much?"

the platform is free to use, but the subscription fee is from $0 to $99.99 according to the trader'setting

 

[StraussX]

After I used it, I wrote a little review of Followme, hope this information can help you. Likewise, if you are a user of Followme or you are interested in Followme, let me know your review or thought. Your review will certainly be of constructive help to its products.

Followme is a global cross-platform social trading network with over 300,000 real users, aims to bring the AI tech and the social trade together to ascending the social trading to the next level.

There are some main features of Followme:

Copy trading is one of the most excellent functions in Followme. It enables the first contact between a trader who made a signal and someone who replicates it.

Cross-platform copy trading in Followme, which means that among 2000 brokers, traders’ and followers’ trading platform can be different. Where magical happen is that an investor opened an account in A broker can follow a trader’s signals who opened an account in B broker.

Real time copy trading, it means that the delays will be less than 100ms. Every trading activity is real in Followme, and followers can check the traders’ profile to get detailed trading information, including open/close time, PNL, symbols.

Users can not only Copy-Trade the excellent traders’ signals but also learn and communicate with the professional traders via the social trading community. Followme community makes use of AI technology to create an intelligent content engine. All the community users will automatically match with contents according to their interests. Followme users can share trading ideas, industrial trends, and trading strategies.

 

[hatemypips]

What is the difference of this service from eToro of Hotforex Copy account?

 

[StraussX]

What is the difference of this service from eToro of Hotforex Copy account?

so, what you mentioned is copy-trading?
I think the foundational function is same, the difference is operational mechanism traders. Followme provided the concept of cross-platform, and made it. so you can use our platform to copy trader's signals, which may come from various brokers, FXpro, KVB... that means you can get the resources more huge than other platforms. Of course, Followme develops its algorithm to help you find excellent traders with considerable profit and risk management.
maybe you have a try, then you will see.

 

[hatemypips]

so, what you mentioned is copy-trading?
I think the foundational function is same, the difference is operational mechanism traders. Followme provided the concept of cross-platform, and made it. so you can use our platform to copy trader's signals, which may come from various brokers, FXpro, KVB... that means you can get the resources more huge than other platforms. Of course, Followme develops its algorithm to help you find excellent traders with considerable profit and risk management.
maybe you have a try, then you will see.

Is it something like master account I have to connect that receives signals from various vendors (brokers) and transmits them to my trading platform?

 

[StraussX]

#analysis #forex #followme #socialtrading

The #GBPUSD pair pullback to 1.2240 while heading into the London open on Thursday. Now it is trading at 1.2217.

#GBP recently surged as the UK lawmakers voted to avoid #NoDeal #Brexit and also turning the down the #PM #BorisJohnson’s proposed snap general election. The members of the parliaments (MPs) debated various bills concerning no-deal Brexit and early elections at the House of Commons. These bills will now reach the upper house i.e. the House of Lords for further discussions/amendments, scheduled for Thursday, and return back to the lower chamber prior to getting the Royal Assent. As per the Labour sources cited by The Press Association, the UK government's legislation to stop a no-deal Brexit will be completed by Friday.

With the risk tone remains positive with nearly four basis points (bps) of gains to 1.51% mark of the US 10-year Treasury yield by the press time.

Trade headlines will be the key to determine near-term trade direction of the #GBPUSD pair while August month’s ADP Employment Change, #ISM Non-Manufacturing Purchasing Managers’ Index (#PMI) and Factory Orders for July from the #US will decorate the economic calendar.



#Technical Analysis

Traders now watch over 21-day simple moving average (SMA) level of 1.2155 and 1.2100 round-figure during additional pullback whereas 1.2308/10 area including August month high and 50-day SMA and early-July low surrounding 1.2382 could please buyers if prices clear recent high of 1.2261.

 

[StraussX]

Is it something like master account I have to connect that receives signals from various vendors (brokers) and transmits them to my trading platform?

yes, it's similar, you need to subscribe the traders that are from different brokers so that you can receive signals.

 

[StraussX]

#analysis #forex #followme #socialtrading

#GBPUSD pair stays firm around 1.2320 after witnessing three consecutive positive daily closings ahead of Friday’s UK session open, due to the receding chances of no-deal Brexit.



The United Kingdom’s (UK) House of Lords is still debating on various Brexit issues to roll them out by Friday evening, to return them to House of Commons that could pass them for Royal Assent. While no significant change is expected in that front, the British Pound (GBP) traders are more inclined to hear from judicial reviews and pleas against the Prime Minister (PM) Boris Johnson’s prorogation to the parliaments.



While the UK’s economic calendar is mostly silent, the #US will offer August month employment data for fresh impulse. Market consensus favors no change in the #UnemploymentRate of 3.7% whereas Average Hourly Earnings might step back from 3.2% to 3.1% on YoY while likely being unchanged to 0.3% on MoM. The headline Nonfarm Payrolls (#NFP) could weaken to 158K from 164K prior.



Additionally, the US #FederalReserve Chairman is scheduled to speak at an event hosted by the Swiss Institute of International Studies, in Zurich, and hence his comments will be closely observed ahead of the blackout period for the Fed policymakers.



#TechnicalAnalysis

Sustained break of the 50-day simple moving average (DMA) requires to be validated by a run-up crossing July 17 low of 1.2382 for further advances, failing to which can recall 1.2200 back to the chart.

 

[StraussX]

#WeekAhead #forex #news #followme #socialtrading
Here are the data highlights for this week:
(GMT+8)

Monday:
14:00 German trade figures and Eurozone Sentix Investor Confidence Index
16:00 UK BoE's Vlieghe speech
16:30 UK GDP, manufacturing production and construction output (all monthly figures)

Tuesday:
09:30 China Consumer Price Index (YoY) (Aug)
16:30 UK average earnings index
16:30 UK ILO Unemployment Rate (3M) (Jul)

Wednesday:
08:30 Australia Westpac Consumer Confidence (Sep)
20:30 US core PPI

Thursday:
Chinese trade figures
14:00 German Harmonized Index of Consumer Prices (YoY) (Aug)
19:45 Europe ECB rate decision and press conference
20:30 Europe ECB Monetary Policy Statement and Press Conference
20:30 US CPI

Friday
20:30 US retail sales
22:00 US Michigan Consumer Sentiment Index (Sep)

#ECB unlikely to re-launch #QE
In this week, the main significant event is Mario Draghi’s last policy meeting as the #ECB President. There have been some suggestions that the #Italian will go out with a bang and announce more quantitative #easing to stimulate the flagging #Eurozone #economy - not least Germany, where incoming data has been truly shocking.
However, with #InterestRates already at zero and having only recently ended their #QE programme, some would argue that the best course of action would be to take no action at all, even if — as Mr Draghi put it in July — the economic outlook is “getting worse and worse.” Indeed, there could be an element of hawkish surprise at this meeting. Several ECB officials have spoken against QE, including Jens Weidmann, Klaas Knot, and Madis Muller in recent days. With this much opposition, Mario Draghi will probably not want to create a mess for his successor to clean up.


US #Inflation before #Fed meeting
With the latest employment figures disappointing expectations following a very poor manufacturing #PMI earlier in the week, this has further cemented speculation over a rate cut by the Fed later this month. Ahead of the September 18 meeting, we will have two more key data releases this week which the Fed might take into account when deciding on interest rates: Consumer Price Index (#CPI) (Thursday) and #RetailSales (Friday).
Unless #CPI is shockingly weak, it is safe to assume the #Fed will only #Cut #Rates by 25 basis points rather than 50. The retail sales may change that view either. Still, it could trigger some movement in the forex and stock markets. After a strong 0.7% m/m increase in spending last month, traders will be watching for any signs of a #slowdown, especially after last month’s tariff escalations.

 

[StraussX]

09.11 #analysisi #forex #socialtrading

The #EURUSD has been fluctuating between two converging trend-lines over the past one week or so, forming a symmetrical triangle on hourly charts. Wednesday's early uptick quickly ran out of the steam, rather met with some fresh supply near the triangle resistance.



The #intraday #pullback has now dragged the pair back below 100-hour SMA, the intraday bias might have shifted in favor of bearish traders and sets the stage for a move towards testing the triangle support, currently near the 1.1020 region, which is followed by 200-hour EMA.



Due to drifting into the bearish territory on the 1-hourly chart, failure to defend the mentioned support levels might indicate the resumption of the prior/well-established bearish trend.



The pair might then turn vulnerable to slide back towards challenging multi-year swing lows, around the 1.0925 area, before eventually sliding farther below the 1.0900 round figure mark towards testing its next major support near the 1.0835-30 region - levels now seen since May 2017.



On the other hand, the 1.1050 region might continue to attract some fresh #supply, which if cleared decisively should negate any near-term bearish bias and prompt some aggressive short-covering move and assist the pair to surpass last week's swing high resistance near the 1.1085 level.

 

[StraussX]

#WeekAhead #forex #news #followme #socialtrading

Hey friends! Happy new week.

Here are the data highlights for this week:

(GMT+8)

Monday:

10:00 Chinese industrial production, fixed asset investment and retail sales





Tuesday:

09:30 RBA Meeting Minutes

17:00 German ZEW economic sentiment and

21:15 US industrial production



Wednesday

16:30 UK Consumer Price Index (YoY) (Aug)

20:30 Canada BoC CPI



Thursday:

02:00 US FOMC Economic Projections

02:00 US Fed's Monetary Policy Statement REPORT

02:00 US Fed Interest Rate Decision

02:30 US FOMC Press Conference SPEECH

06:45 AUD Gross Domestic Product (QoQ) (Q2)

09:30 AUD Employment Change s.a. (Aug)

09:30 AUD Unemployment Rate s.a. (Aug)

10:00 JPY BoJ Interest Rate Decision

10:00 JPY BoJ Monetary Policy Statement REPORT

14:00 JPY BoJ Press Conference SPEECH

19:00 UK BoE Asset Purchase Facility

19:00 UK BoE Interest Rate Decision

19:00 UK BoE MPC Vote Hike

19:00 UK Bank of England Minutes REPORT

19:00 UK BoE MPC Vote Cut

19:00 UK BoE MPC Vote Unchanged



Friday:

20:30 Canadian Retail Sales (MoM) (Jul)



#FederalReserve is expected to cut rate about 25-basis point. It would be a major shock if the Fed doesn’t deliver. But some, including Donald Trump, want more than just 25 basis points. In fact, the US President has called for “boneheads” Fed to cut rates to zero or lower in a tweet this week. Understandably, with US data not deteriorating as badly as, say, Germany, the Fed is reluctant to cut aggressively and rightly so. The risk therefore is that the Fed refuses to provide a dovish outlook for interest rates. In this potential scenario, a rate cut might only weigh on the dollar momentarily. With most other major central banks already being or turning dovish, the Fed will also need to be super dovish for the dollar to end its bullish trend. Otherwise, the greenback may find renewed bullish momentum, even if the Fed cuts by 25 basis points.





The #Swiss National Bank will have to say about the #ECB’s decision to resume bond buying, given the recent appreciation of the franc against the shared currency. The #BoJ is unlikely to respond to the #ECB’s resumption of bond buying. It may keep the current policy of controlling the yield curve. For one, the global economy hasn’t deteriorated too significantly to exacerbate deflationary pressures in the export-oriented Japanese economy. For another, the there’s only limited number of policy options left at the BoJ's disposal. Thus, cutting short-term interest rates further into the negative may be an option, but to be used on another occasion.

 

[StraussX]

#WeekAhead #forex #news #followme #socialtrading

Hey friends! Happy new week.

Here are the data highlights for this week:

(GMT+8)

Monday:

15:30 German Markit PMI Composite (Sep)

15:30 German Markit Manufacturing PMI (Sep)

16:00 Eurozone Markit PMI Composite (Sep)

21:50 US Fed's Williams speech



Tuesday:

13:35 BoJ's Governor Kuroda speech

16:00 German Ifo Business Climate and US Consumer Confidence (CB)

17:55 RBA's Governor Lowe speech



Wednesday:

07:50 BoJ Monetary Policy Meeting Minutes

10:00 RBNZ Rate Statement REPORT

10:00 RBNZ Interest Rate Decision





Thursday:

20:30 US Final GDP



Friday:

07:30 Japan Tokyo CPI ex Fresh Food (YoY) (Sep)

20:30 US Nondefense Capital Goods Orders ex Aircraft (Aug)

20:30 US Core PCE Price Index; Core Durable Goods Orders, and Personal Spending and Income





Among next week’s data highlights, traders should watch closely: (1) Eurozone flash services and manufacturing PMIs, (2) RBNZ rate decisions and (3) US macro data released throughout the week.





Eurozone PMIs in focus

The #ECB restarted #QE and cut #InterestRates last week because of the Eurozone economy. The latest PMIs provide a leading indication of economic health. Businesses and their purchasing managers tend to react quickly to changing market conditions. If the PMIs – especially in the manufacturing sector – continue to paint a bleak picture, then the single currency could come under renewed pressure in early next week. The #EURUSD bulls huffed and puffed this week, but macro concerns kept a lid on the exchange rate. With the Fed turning out to be less dovish than expected, the path of least resistance remains to the downside for this popular exchange rate.



#RBNZ likely to hold rates steady after the surprise 0.5% cut

The Reserve Bank of New Zealand is likely to hold interest rates unchanged at the historically-low rate of 1.0% after delivering a shock 50 basis point cut when a 25bp cut was expected in the previous meeting in August. In total, rates have been trimmed by the RBNZ by 75 basis points since May. Going forward, the rate setters at the central bank will likely sit on theirs hands and monitor the ongoing trade situation between the US and China. However, if the RBNZ makes any hints of forthcoming rate cuts then the NZD/USD could drop further lower after it hit a new 2019 low below the old low of 0.6270 on Friday to drop to 0.6255 at the time of this writing.



US-China Trade and #Brexit back to forefront

Deputy trade negotiators from the US and China resumed talks for the first time in almost two months this week. Their aim is to lay the groundwork for high-level talks in early October. Will they finally bridge their differences and find a way out of the trade war? As the high levels talks near, expect more tweets and tariff threats from US President Donald Trump, which could highs some risk-sensitive markets. However, for the time being, stock markets remain supported with US equity indices near record levels after a week of central bank bonanza, where the #message was loud and clear: global #InterestRates will remain at or near record #lows for the foreseeable future.



Meanwhile, hopes over an imminent Brexit breakthrough rose earlier this week and the GBP/USD shot above the 1.25 handle to trade 20 pips shy of 1.26 by early Friday session. However, it then sold off sharply after the Irish Foreign Minister Simon Coveney dashed those hopes by saying: “I think we need to be honest with people and say that we’re not close to that deal right now. But there is an intent I think by all sides to try and find a landing zone that everybody can live with here."



Followme, more than trade.

 

[StraussX]

Run ahead, Followme opens a new door for global forex trading
​

With increasing trend of globalization, currency circulation is becoming more and more frequent. As an international investment field, forex has attracted more and more attention. Under this context, Followme has emerged and grown rapidly to become the world's leading forex trading community.

Nowadays, Followme's globalization strategy has made remarkable achievements, with users covering 160 countries and regions in China, Southeast Asia, South Asia, Africa, and Oceania. The continuous development and improvement of overseas territories depicts followme's market advantage at the forefront of World Trade and opens a new door for global forex trading.

Dedication on developing products
Followme was born in 2015. In the same year, the R&D center was established. It creates a friendly interactive platform for forex traders to exchange and share market information. The initial product prototype is the “FX Friends Community”. In the beginning, “FX Friends Community didn't attract much attention, but the excellent communication atmosphere allowed many trading users to grow strong interest, and more and more people gathered in FX Friends Community. In that year, the registered users of “Huiyou circle” exceeded 60000.
At this time, followme also found that simple community communication is difficult to meet the deeper trading needs of users. To solve this problem, “FX Friends Community has gradually expanded into an open and transparent new trading community integrating microblog, online chat, forex information, trading dynamics, and variety aggregation pages.

Followme international community page​

Nowadays, followme trading community has set up many official accounts, such as the "secretary" who notifies the community dynamics in time, the "risk management center" of users' who keeps a careful attention to trading abnormalities, the "product Koi" who pays attention to users' needs and notifies users about product updates, etc., to help users understand and integrate into the community environment faster from multiple perspectives. At present, the followme community has more than 260,000 users with an average daily life of tens of thousands.

Listen attentively and pay close attention to the trading demand
One year after its inception, followme took the lead in launching the FollowTrade trading system, enabling users to conduct online trading while chatting in the community, which practices the perfect binding of communication and transaction.
At the same time, globalization makes forex market a participating for worldwide investors. More and more new investors enter the market, but the lack of trading experience, professional knowledge and risk awareness make difficult for them to obtain stable returns. Hence, followme has developed copy trade system, which enables community users to push ther boundaries and choose to copy suitable trading signals by following in forward or reverse directions.
In addition, followme has developed a multi-account system to solve the issue that users are limited by a single broker platform,. Users can sign up a followme account to bind multiple broker accounts and enjoy the benefits of being a trader and a follower.
Nowadays, the followme trading community supports the MT4 / 5 binding of more than 2,000 brokers' accounts around the world and gradually develops into a powerful open platform. Through the open system, traders can be followed after binding their trading accounts. They can earn trading profits, at the same time with considerable subscription fee revenue and a group of loyal followers. As a result, the community has gathered a large number of high-quality strategic signals, and users who are followers can choose free or paid subscriptions according to their trading preferences, to achieve a win-win situation for both the trading and the followers.

Followme International Strategy Market Page. Users can subscribe to traders' strategies according to their preferences.
​

Territory expansion, markets without borders
Since the establishment of followme, it has been adhering to the vision of leading global intelligent transaction industry. In the past five years, the overseas market has been expanding, and the Southeast Asia market is the first stop for followme to take the lead in global transactions.
In July this year, followme participated in the "WiKi financial Expo (Kuala Lumpur) 2019" exhibition, discussed financial technology with users from all over the world, shared the innovation achievements of community artificial intelligence, and financial technology, and took the first step of overseas market expansion.
At the same time, followme carried out product innovation. In July, followme launched 2 versions of its website in English and traditional chinese, as well as the new domain names "followme.com" and "followme.tw". Mobile apps in English and traditional Chinese have also been launched in Google play and App store, which has become another milestone of strong breakthrough on the overseas market.

Followme international mobile page​

Since the international version was launched, it has received a good market response， advanced copytrading technology and convenient trades following operation have been unanimously recognized by overseas users. In just two months, there are 5633 users registered in the overseas version. Overseas users speak freely in the community. Although from different countries, they have an urgent need for trading and exchange, which makes their ideas burst out different sparks. By the end of September, overseas users had posted 801 short posts and 2116 long posts.

Good products have no national boundaries, good product experience can convey feelings!
"No copy-trading community can be as real, open and transparent as followme," said Jone, a trading user from the United States. In followme, you can see other people's open trading accounts and know their public trading data. "Through these public information, we can observe the strategies of traders, depending on your choice, you can learn their strategies, or choose to follow their trading,, but all of them improve the convenience of trading." This once again reflects the good reputation that followme has accumulated in the global market.

Next, Followme will focus on the Southeast Asian and African markets and launch more language versions of products online. Under the trend of globalization, the competition in the forex market will be more and more fierce. Difficulties and challenges are inevitable, but it is followme's first intention to do well in products. Followme believes that the choice of Chinese users and the world's users will be the same, that is only real and high-quality products can harvest the trust of users.
In the future, followme will continue to provide traders from all over the world with high-quality platforms and services, enablaing truly meaningful global reading community . Followme is bound to blossom in the global forex trading industry.

 

[hatemypips]

so, what you mentioned is copy-trading?
I think the foundational function is same, the difference is operational mechanism traders. Followme provided the concept of cross-platform, and made it. so you can use our platform to copy trader's signals, which may come from various brokers, FXpro, KVB... that means you can get the resources more huge than other platforms. Of course, Followme develops its algorithm to help you find excellent traders with considerable profit and risk management.
maybe you have a try, then you will see.

Regarding algorithms how do you evaluate performance of successful traders? What are the criteria?