Retail foreign exchange trading

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Selected by the Market Technicians Association as the official companion to its prestigious Chartered Market Technician CMT program, Technical Analysis, Third Edition systematically explains the theory of technical analysis, presenting academic evidence both for and against it. The reason the first question is very relevant to Forex trading is that most of us myself included in the past have a tendency to believe what we read in books and on websites in the Forex industry.

The forex scandal (also known as the forex probe) is a financial scandal that involves the revelation, and subsequent investigation, that banks colluded for at least a decade to manipulate exchange rates for their own financial gain.

The CFTC specifically fined: The CFTC found that currency traders at the five banks coordinated their trading with traders at other banks in order to manipulate the foreign exchange benchmark rates, including the 4 p. Currency traders at the banks used private chatrooms to communicate and plan their attempts to manipulate the foreign exchange benchmark rates. In these chatrooms, traders at the banks disclosed confidential customer order information and trading positions, changed trading positions to accommodate the interests of the collective group, and agreed on trading strategies as part of an effort by the group to manipulate different foreign exchange benchmark rates.

These chatrooms were often exclusive and invitation only. On 19 December the first and only known arrest was made in relation to the scandal. Several traders have been incarcerated for market manipulation in recent years. The longest handed conviction was for a British citizen and ex- UBS trader in , named Tom Hayes years jail sentence.

Respective authorities have announced remediation programmes aimed at repairing trust in their banking systems and the wider foreign exchange market place. In the United Kingdom the FCA has stated that the changes to be made at each firm will depend on a number of factors, including the size of the firm, its market share, impact, remedial work already undertaken, and the role the firm plays in the market.

From Wikipedia, the free encyclopedia. Don't want other numpty's in mkt to know [about information exchanged within the group], but not only that is he gonna protect us like we protect each other Retrieved 13 November Retrieved 21 January Retrieved 3 February Retrieved 1 July Retrieved 18 February Retrieved 28 July The Bureau of Investigative Journalism. Retrieved 14 April Commodities Futures trading Commission.

Retrieved 20 May Retrieved 18 September Retrieved 22 December The best way to retain knowledge is through repetition, and having a quick reference guide is never ….

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