Saturday 3 March 2018

विदेशी मुद्रा व्यापार में भारत - भारतीय रिजर्व बैंक के दिशा-निर्देशों - 2015 - फोर्ड


OANDA 1080108910871086108311001079109110771090 10921072108110831099 कुकी, 10951090108610731099 1089107610771083107210901100 1085107210961080 10891072108110901099 10871088108610891090109910841080 1074 1080108910871086108311001079108610741072108510801080 1080 108510721089109010881086108010901100 10801093 10891086107510831072108910851086 108710861090108810771073108510861089109011031084 10851072109610801093 10871086108910771090108010901077108310771081. 10601072108110831099 कुकी 10851077 10841086107510911090 1073109910901100 108010891087108610831100107910861074107210851099 107610831103 109110891090107210851086107410831077108510801103 10741072109610771081 10831080109510851086108910901080. 1055108610891077109710721103 108510721096 1089107210811090, 10741099 108910861075108310721096107210771090107710891100 1089 10801089108710861083110010791086107410721085108010771084 OANDA8217 109210721081108310861074 कुकी 1074 108910861086109010741077109010891090107410801080 1089 10851072109610771081 10 5510861083108010901080108210861081 108210861085109210801076107710851094108010721083110010851086108910901080. 1048108510891090108810911082109410801080 10871086 107310831086108210801088108610741072108510801102 1080 10911076107210831077108510801102 109210721081108310861074 कुकी, 1072 10901072108210781077 1091108710881072107410831077108510801102 108010841080 108710881080107410771076107710851099 10851072 10891072108110901077 aboutcookies. org। 1042 108910831091109510721077 10861075108810721085108010951077108510801103 1080108910871086108311001079108610741072108510801103 109210721081108310861074 कुकी 108610871088107710761077108310771085108510991077 1092109110851082109410801080 108510721096107710751086 10891072108110901072 10731091107610911090 1085107710761086108910901091108710851099. 104710721075108810911079108010901100 108410861073108010831100108510991077 1087108810801083108610781077108510801103 10531072 1075108310721074108510911102 10891090108810721085108010941091 1042109310861076 1042109910731088107210901100 1089109510771090: ampltiframe src4489469.fls. doubleclickactivityisrc4489469typenewsi0catoanda0u1fxtradeiddclatdcrdidtagforchilddirectedtreatmentord1num1 mcesrc4489469.fls. doubleclickactivityisrc4489469typenewsi0catoanda0u1fxtradeiddclatdcrdidtagforchilddirectedtreatmentord1num1 width1 height1 frameborder0 styledisplay: कोई नहीं mcestyledisplay: noneampgtampltiframeampgt 10441054104110561054 105510541046104010511054104210401 0581068 1042 OANDA OANDA 8212 1086107610801085 10801079 1083108010761077108810861074 1074 10901086108810751086107410831077 106010861088107710821089 1080 1076108610741077108810771085108510991081 10801089109010861095108510801082 107610721085108510991093 1086 1074107210831102109010721093 8212 1087108810771076108310721075107210771090 10901086108810751086107410991077 10861087107710881072109410801080 1089 108210881077107610801090108510991084 108710831077109510861084, 109110891083109110751080 10871086 10881072108910951077109010721084 1080 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1056104510641045105310481071 104410511071 1041104810471053104510571040 104010741090108610841072109010801079108010881091108110901077 1074107410861076 107610721085108510991093 1086 1074107210831102109010721093 10791072 1089109510771090 1085107210891090108810721080107410721077108410861081 1080108510901077107510881072109410801080 10741072108311021090108510991093 108210911088108910861074 OANDA। 1058107710931085108610831086107510801080, 1076108610731088108610891086107410771089109010851086108910901100, 10871072108810901085107710881089109010741086 OANDA 108610731077108910871077109510801074107210771090 1087108810861079108810721095108510991081, 10761086108910901086107410771088108510991081 1080 10851072107610771078108510991081 107610861089109010911087 1082 10821088109110871085107710811096107710841091 10921080108510721085108910861074108610841091 10881099108510821091 1084108010881072 10851072 108610891085108610741077 1080108510851086107410721094108010861085108510991093 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OANDA 10761086107410771088110311021090 1082108810911087108510771081109610801077 10861088107510721085108010791072109410801080 169 199682112017 OANDA निगम। 104210891077 10871088107210741072 10791072109710801097107710851099.10581086107410721088108510991077 ओंडा, एफएक्सट्रेड 1080 108910771084107710811089109010741086 10901086107410721088108510991093 107910851072108210861074 एफएक्स 10871088108010851072107610831077107810721090 ओंडा कॉर्पोरेशन 104210891077 108710881086109510801077 10901086107410721088108510991077 10791085107210821080, 10871088107710761089109010721074108310771085108510991077 10851072 1101109010861084 10891072108110901077, 11031074108311031102109010891103 10891086107310891090107410771085108510861089109011001102 108910861086109010741077109010891090107410911102109710801093 1074108310721076107710831100109410771074. 10581086108810751086107410831103 10821086108510901088107210821090107210841080 10851072 10801085108610891090108810721085108510911102 107410721083110210901091 108010831080 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1080108510741077108910901080109410801081. 1048108510921086108810841072109410801103, 10871088108010741077107610771085108510721103 10851072 107610721085108510861084 10891072108110901077, 10851086108910801090 10861073109710801081 10931072108810721082109010771088. 10561077108210861084107710851076109110771084 107410721084 10761086 108510721095107210831072 10901086108810751086107410831080 1086107310881072109010801090110010891103 10791072 1087108610841086109711 001102 1082 10851077107910721074108010891080108410991084 1082108610851089109110831100109010721085109010721084 1080 109110731077107610801090110010891103, 109510901086 10741099 108710861083108510861089109011001102 108710861085108010841072107710901077 107410891077 1089108610871091109010891090107410911102109710801077 10881080108910821080. 10581086108810751086107410831103 10871086108910881077107610891090107410861084 108610851083107210811085-108710831072109010921086108810841099 107410831077109510771090 10761086108710861083108510801090107710831100108510991077 10881080108910821080. 10571084. 108810721079107610771083 17110551088107210741086107410991077 1074108610871088108610891099187 10791076107710891100। 1060108010851072108510891086107410991081 10891087108810771076-1073107710901090108010851075 10761086108910901091108710771085 109010861083110010821086 10821083108010771085109010721084 OANDA यूरोप लिमिटेड, 1103107410831103110210971080108410891103 10881077107910801076107710851090107210841080 105710861077107610801085107710851085108610751086 10501086108810861083107710741089109010741072 108010831080 1056107710891087109110731083108010821080 10481088108310721085107610801103. 105010861085109010881072108210901099 10851072 1088107210791085108010941091, 1092109110851082109410801080 109310771076107810801088108610741072108510801103 105210584 1080 108210881077107610801090108510861077 10871083107710951086 10891074109910961077 50: 1 1085107710761086108910901091108710851099 107610831103 1088107710791080107610771085109010861074 10571086107710761080108510771085108510991093 106410901072109010861074 1040108410771088108010821080. 1048108510921086108810841072109410801103 10851072 1101109010861084 10891072108110901 077 10851077 1087108810771076108510721079108510721095107710851072 107610831103 1078108010901077108310771081 10891090108810721085, 1074 1082108610901086108810991093 10771077 108810721089108710881086108910901088107210851077108510801077 108010831080 1080108910871086108311001079108610741072108510801077 10831102107310991084 10831080109410861084 108710881086109010801074108610881077109510801090 1084107710891090108510991084 1079107210821086108510721084 1080 10871088107210741080108310721084. 10501086108410871072108510801103 1089 108610751088107210851080109510771085108510861081 1086109010741077109010891090107410771085108510861089109011001102 OANDA यूरोप लिमिटेड 1079107210881077107510801089109010881080108810861074107210851072 1074 104010851075108310801080, 108810771075108010891090108810721094108010861085108510991081 10851086108410771088 7,110,087, 11021088108010761080109510771089108210801081 10721076108810771089: टॉवर 42, मंजिल 9a, 25 पुराने ब्रॉड सेंट, लंदन ईसी 2 एन 1 एचक्यू 104410771103109010771083110010851086108910901100 10821086108410871072108510801080 1083108010941077108510791080108810861074107210851072 1080 108810771075109110831080108810911077109010891103 10591087108810721074108310771085108010771084 10921080108510721085108910861074108610751086 1085107210761079108610881072. 10831080109410771085107910801103 8470 542574. OANDA जापान कंपनी लिमिटेड 8212 108710771088107410991081 10761080108810771082109010861088 10871086 108610871077108810721094108011031084 1089 10921080108510721085108910861074109910841080 1080108510891090108810911084107710851090107210841080 1090108010871072 कांटो स्थानीय वित्तीय ब्यूरो (परिजनों थानेदार), 108810771075. 8470 2137 1095108310771085 1040108910891086109410801072109410801080 1092108010851072108510891086107410991093 109211001102109510771088108910861074, 108810771075. 8470 1571.calgary विदेशी मुद्रा विनिमय व्यापार विदेशी मुद्रा विदेशी मुद्रा 5 मिनट sekolah व्यापार विदेशी मुद्रा डी सुरबाजा 3 बतख व्यापार प्रणाली पीडीएफ डाउनलोड करें मुद्रा विक्रेता विदेशी मुद्रा मुफ्त बाउंस ट्रेडिंग सिस्टम स्टेम कैसे स्टॉक विकल्प एनएसई आरएसआई विदेशी मुद्रा सेटिंग्स में सबसे अधिक कारोबार वाले स्टॉक ऑप्शन्स का काम करता है स्टॉक ऑप्शंस कंपनी एसक्यूएफ़ फॉरेक्स एंडहेरी ट्रेड ऑप्शंस का बीयर एवियस विदेशी मुद्रा फोमैन पीवीसी एलकेके स्टॉक ऑप्शंस और मैनेजमेंट सिस्टम डे ट्रेडिंग कैसे करते हैं विदेशी मुद्रा दलाल अपने पैसे मुक्त विदेशी मुद्रा ट्रेडिंग खाता डेमो सीबीए कैसे करते हैं विदेशी मुद्रा दरें व्यापार रणनीतियों सॉफ्टवेयर कोर्सी विदेशी मुद्रा मुफ्त ऑनलाइन विकल्प दलालों सिंगापुर मोनिका फॉरेक्स अन्ना नगर विदेशी व्यापारिक उगाड़ने (ईसीबी) अधिकृत डीलरों द्वारा विदेशी एक्सचेंज का प्रकाशन (ए) बाहरी वाणिज्यिक उधार (ईसीबी) बैंक ऋण, क्रेता क्रेडिट के रूप में वाणिज्यिक ऋण का संदर्भ देता है , आपूर्तिकर्ताओं क्रेडिट, प्रतिभूतिकृत उपकरण (जैसे फ्लोटिंग रेट नोट्स और फिक्स्ड रेट बॉन्ड) न्यूनतम अनिवार्य परिपक्वता अवधि वाले गैर-निवासी उधारदाताओं से लाभ उठाते हैं। (बी) विदेशी मुद्रा परिवर्तनीय बांड (एफसीसीबी) का मतलब है कि विदेशी मुद्रा में व्यक्त भारतीय कंपनी द्वारा जारी किए गए एक बांड और उसके संबंध में मूलधन और ब्याज विदेशी मुद्रा में देय है। इसके अलावा बांड को योजना के अनुसार जारी किया जाना आवश्यक है, अर्थात विदेशी मुद्रा परिवर्तनीय बांड और सामान्य शेयरों (जमा रसीद तंत्र के माध्यम से) स्कीम, 1 99 3 के आदेश, और विदेशी मुद्रा में एक गैर-निवासी द्वारा सदस्यता और जारीकर्ता कंपनी के साधारण शेयरों में किसी भी रूप में, पूरी तरह से, या कुछ हिस्से में, ऋण उपकरणों से जुड़ी किसी भी इक्विटी संबंधित वारंट के आधार पर ईसीबी के लिए नीति एफसीसीबी पर भी लागू होती है। एफसीसीबी के मुद्दे को भी 7 जुलाई 2004 के अधिसूचना फेमा सं 120 आरबी -2004 के प्रावधानों का पालन करना आवश्यक है, जो समय-समय पर संशोधित हैं। (सी) ईसीबी दो मार्गों के तहत पहुंचा जा सकता है, अर्थात (i) अनुच्छेद I (ए) और (ii) अनुच्छेद I (बी) में उल्लिखित स्वीकृति मार्ग में उल्लिखित स्वचालित रूट। (डी) वास्तविक क्षेत्र में निवेश के लिए ईसीबी इंडस्ट्री क्षेत्र, विशेष रूप से भारत में बुनियादी ढांचा क्षेत्र - स्वचालित रूट के तहत हैं, अर्थात आरबीआईजीओए सरकार की मंजूरी की आवश्यकता नहीं है स्वत: रूट तक पहुंचने की पात्रता के संबंध में संदेह होने पर, आवेदक अनुमोदन मार्ग का सहारा ले सकते हैं। (ए) कॉर्पोरेट्स (वित्तीय मध्यस्थों (जैसे बैंकों, वित्तीय संस्थानों (वित्तीय संस्थाएं), आवास फर्नेंस कंपनियों और एनबीएफसी) को छोड़कर कंपनियों अधिनियम के तहत पंजीकृत ईसीबी बढ़ाने के लिए पात्र हैं। व्यक्तियों, ट्रस्टों और गैर-लाभकारी संगठनों को बढ़ाने के लिए पात्र नहीं हैं ईसीबी (बी) विशेष आर्थिक क्षेत्रों (एसईजेड) में इकाइयों को अपनी आवश्यकता के लिए ईसीबी जुटाने की अनुमति है। हालांकि, वे ईसीबी फंड को बहन चिंताओं या घरेलू टैरिफ एरिया में किसी भी इकाई को हस्तांतरित नहीं कर सकते हैं या नहीं दे सकते हैं (ii) मान्यता प्राप्त उधारकर्ता ईसीबी को अंतरराष्ट्रीय स्तर पर मान्यता प्राप्त स्रोतों से बढ़ा सकते हैं जैसे अंतर्राष्ट्रीय बैंक, (ii) अंतर्राष्ट्रीय पूंजी बाजार, (iii) बहुपक्षीय वित्तीय संस्थान (जैसे आईएफसी, एडीबी, सीडीसी, आदि), (iv) निर्यात ऋण एजेंसियों , (v) उपकरण के आपूर्तिकर्ताओं, (vi) विदेशी सहयोगी और (vii) विदेशी इक्विटी धारक (पूर्ववर्ती ओसीबी के अलावा)। स्वत: मार्ग के तहत एलडीक्वोरिओनाइज्ड लैंड्रेस्की के रूप में योग्य होने के लिए एक एलडीक्फ़ोरिअन इक्विटी धारक को न्यूनतम होल्डिंग की आवश्यकता होगी उधारकर्ता कंपनी में इक्विटी नीचे दी गई है: (i) ऋणदाता द्वारा प्रत्यक्ष रूप से आयोजित 25 प्रतिशत की न्यूनतम इक्विटी 5 मिलियन अमेरिकी डॉलर तक ईसीबी के लिए। (ii) ईसीबी के लिए ऋणदाता और ऋण-इक्विटी अनुपात 4: 1 (यानी प्रस्तावित ईसीबी से प्रत्यक्ष विदेशी इक्विटी होल्डिंग के चार गुना से अधिक नहीं) से अधिक नहीं सीधे 25 प्रतिशत की न्यूनतम 5 मिलियन अमरीकी डालर की न्यूनतम इक्विटी। (iii) राशि और परिपक्वता (ए) एक वित्तीय वर्ष के दौरान कॉर्पोरेट द्वारा उठाए जा सकने वाले ईसीबी की अधिकतम राशि 500 ​​मिलियन डॉलर या उसके बराबर है। (बी) ईसीबी को एक वित्तीय वर्ष में 20 मिलियन डॉलर या समतुल्य तक तीन साल की न्यूनतम औसत परिपक्वता के साथ। (सी) यूएसबी 20 मिलियन अमरीकी डालर से ऊपर और 500 मिलियन अमेरिकी डॉलर या पांच साल की न्यूनतम औसत परिपक्वता औसत परिपक्वता के बराबर है। (डी) 20 मिलियन अमेरिकी डॉलर के पास ईसीबी कॉल पुट विकल्प दिया जा सकता है, अगर कॉल पुट विकल्प का प्रयोग करने से पहले तीन साल की न्यूनतम औसत परिपक्वता का अनुपालन किया गया है। सभी मूल्यों में ब्याज दर, अन्य शुल्क और विदेशी मुद्रा में खर्च शामिल हैं, जिसमें प्रतिबद्धता शुल्क, पूर्व भुगतान शुल्क, और भारतीय रुपये में देय फीस शामिल हैं। इसके अलावा, भारतीय रुपयों में रोक लगाने का भुगतान सभी-इन-कॉस्ट की गणना के लिए बाहर रखा गया है। ईसीबी के लिए सभी लागत वाली छतों की समीक्षा समय-समय पर की जाती है। निम्नलिखित छतें समीक्षाधीन तक मान्य हैं: औसत परिपक्वता अवधि 6 महीने से अधिक की सभी लागत वाली सीमाएं ऋण के संबंधित मुद्रा के लिए 350 आधार अंक या लागू बेंचमार्क (ए) निवेश उदा। भारत में छोटे और मध्यम उद्यमों (एसएमई) और बुनियादी ढांचा क्षेत्र सहित वास्तविक क्षेत्र - औद्योगिक क्षेत्र में नए या मौजूदा उत्पादन इकाइयों द्वारा पूंजीगत माल के आयात (जैसा कि विदेश व्यापार नीति में डीजीएफटी द्वारा वर्गीकृत किया गया है) का आयात। इन्फ्रास्ट्रक्चर क्षेत्र को (i) बिजली, (ii) दूरसंचार, (iii) रेलवे, (iv) सड़क सहित पुल, (वी) समुद्री बंदरगाह और हवाई अड्डे, (vi) औद्योगिक पार्कों और (vii) शहरी बुनियादी ढांचे (पानी की आपूर्ति , स्वच्छता और सीवेज परियोजनाएं) (बी) संयुक्त उद्यमों में विदेशी प्रत्यक्ष निवेश (जेवी) पूर्ण स्वामित्व वाली सहायक कंपनियों (डब्ल्यूओएस) विदेशों में जेवीडब्ल्यूओएस में भारतीय प्रत्यक्ष निवेश पर मौजूदा दिशानिर्देशों के अधीन हैं। vi) एंड-यूज़र को अनुमति नहीं है (ए) ईसीबी की आय का उपयोग किसी भी कॉरपोरेट द्वारा भारत में पूंजी बाजार में निवेश या निवेश करने के लिए या किसी कंपनी (या उसके हिस्से) के अधिग्रहण के लिए अनुमति नहीं है, (बी) ईसीबी की आय का उपयोग अचल संपत्ति में अनुमति नहीं है, (सी) कार्यशील पूंजी, सामान्य कॉर्पोरेट उद्देश्य और मौजूदा रुपए ऋणों की चुकौती के लिए ईसीबी आय का उपयोग करने की अनुमति नहीं है। गारंटी के जारी, क्रेडिट के अतिरिक्त पत्र, उपक्रम का पत्र या बैंक द्वारा आराम की पत्र, वित्तीय संस्थानों और गैर बैंकिंग वित्तीय कंपनियां (एनबीएफसी) ईसीबी से संबंधित अनुमति नहीं है ऋणदाता आपूर्तिकर्ता को प्रदान की जाने वाली सुरक्षा का विकल्प उधारकर्ता को दिया जाता है हालांकि, विदेशी ऋणदाता के पक्ष में अचल संपत्तियों और वित्तीय प्रतिभूतियों पर प्रभार का निर्माण, 3 मई 2000 की अधिसूचना सं। फेमा 21 आरबी -2000 की अधिसूचना 8 और अधिसूचना सं। फेमा 20RB - 2000 दिनांकित 3 मई, 2000 क्रमशः, समय-समय पर संशोधित। ix) ईसीबी की पार्किंग विदेशी विदेशी मुद्रा व्यय के लिए अनुमोदित अंतिम उपयोगों के लिए विदेशी मुद्रा व्यय के लिए उगाया जानेवाली पार्किंग विदेशों में खड़ी की जाएगी और भारत को नहीं भेजा जाएगा। विदेशी पूंजी से निकलकर ईसीबी का निवेश निम्न तरल परिसंपत्तियों में किया जा सकता है (ए) जमाराशियां या जमा प्रमाण पत्र या अन्य उत्पादों जो कि मानक और गरीब फिच आईबीसीए या एए 3 (एआईए) के मुकाबले कम से कम रेटेड बैंकों द्वारा प्रस्तावित किए जा सकते हैं। भारत में अधिकृत डीलर की शाखा और (सी) खजाना बिल और एक वर्ष की परिपक्वता अवधि के अन्य मौद्रिक साधनों को न्यूनतम रेटिंग के रूप में दर्शाया गया है। निधियों को इस तरह निवेश किया जाना चाहिए कि भारत में उधारकर्ता द्वारा धन की आवश्यकता होती है और जब निवेश को समाप्त किया जा सकता है। भारतीय रिज़र्व बैंक के पूर्व अनुमोदन के बिना ईसीबी के 500 मिलियन अमेरिकी डॉलर की पूर्व-भुगतान की अनुमति दी जा सकती है, जिसके तहत ऋण पर लागू न्यूनतम न्यूनतम अवधि की परिपक्वता अवधि का अनुपालन किया जा सकता है। xi) एक मौजूदा ईसीबी के पुनर्वित्त मौजूदा ईसीबी को ताजा ईसीबी की स्थिति में बदलकर पुनर्वित्त किया जा सकता है कि ताजा ईसीबी कम कीमत पर उठाया जाता है और मूल ईसीबी की बकाया परिपक्वता को बनाए रखा जाता है। निर्दिष्ट प्राधिकृत व्यापारी (एडी बैंक) को सरकारी समय-समय पर भारतीय रिज़र्व बैंक द्वारा जारी किए गए ईसीबी दिशानिर्देशों के अनुरूप प्रिंसिपल, ब्याज और अन्य शुल्कों की किश्तों का प्रेषण करने की सामान्य अनुमति है। रिजर्व बैंक के पूर्व अनुमोदन के बिना उधारकर्ता, ईसीबी स्वचालित रूट के तहत ईसीबी को बढ़ाने के लिए मान्यताप्राप्त ऋणदाता के साथ ईसीबी दिशानिर्देशों का पालन करने वाले ऋण समझौते में प्रवेश कर सकते हैं। उधारकर्ता को ईसीबी को रेखांकित करने से पहले भारतीय रिज़र्व बैंक से ऋण पंजीकरण संख्या (एलआरएन) मिलनी चाहिए। एलआरएन प्राप्त करने की प्रक्रिया पैरा II (i) (बी) में विस्तृत है। ईसीबी के लिए निम्नलिखित प्रकार के प्रस्तावों को अनुमोदन मार्ग के तहत कवर किया गया है ए)। आईडीएसी, आईएलएम्पएफएस, पावर फाइनेंस कॉरपोरेशन, पावर ट्रेडिंग कार्पोरेशन, आईआरसीओएन और एक्जिम बैंक जैसे बुनियादी ढांचे या निर्यात फॉरेनंस के साथ विशेष रूप से काम कर रहे वित्तीय संस्थान मामले के आधार पर मामले पर विचार किया जाता है। ख)। सरकार द्वारा अनुमोदित के रूप में बैंकों और वित्तीय संस्थानों ने कपड़ा या इस्पात क्षेत्र के पुनर्गठन पैकेज में भाग लिया था, जो भी विवेकपूर्ण मानदंडों के आधार पर रिजर्व बैंक द्वारा पैकेज में उनके निवेश की आकलन और आकलन की अनुमति दी जाती है। इस प्रयोजन के लिए अब तक किसी भी ईसीबी का फायदा उठाया जाएगा, उनके पात्रता से कटौती की जाएगी। सी)। बहुपक्षीय वित्तीय संस्थानों, प्रतिष्ठित क्षेत्रीय वित्तीय संस्थान, आधिकारिक निर्यात ऋण एजेंसियों और अंतर्राष्ट्रीय बैंकों द्वारा गैर-बैंकिंग वित्तीय कंपनियों (एनबीएफसी) द्वारा 5 साल की न्यूनतम औसत परिपक्वता अवधि के साथ इंफ्रास्ट्रक्चर परियोजनाओं के लिए पट्टे पर बुनियादी ढांचा के उपकरणों का आयात करने के लिए ईसीबी। घ)। निम्नलिखित न्यूनतम मानदंडों को पूरा करने वाले आवास फाइनेंस कंपनियों द्वारा विदेशी मुद्रा परिवर्तनीय बांड (एफसीसीबी): (i) पिछले तीन वर्षों के दौरान वित्तीय मध्यस्थ का न्यूनतम शुद्ध मूल्य 500 करोड़ रुपये से कम नहीं होगा, (ii) एक सूची बीएसई या एनएसई, (iii) एफसीसीबी का न्यूनतम आकार 100 मिलियन अमरीकी डॉलर है, (iv) आवेदक को निधियों के उपयोग के उद्देश्य योजना को जमा करना चाहिए। ई)। विशेष प्रयोजन वाहन या रिज़र्व बैंक द्वारा अधिसूचित किसी भी अन्य संस्था, विशेष रूप से फाइनेंस इन्फ्रास्ट्रक्चर कंपनियों के लिए स्थापित की जाएंगी, जिन्हें वित्तीय संस्थानों के रूप में माना जाएगा और ऐसी संस्थाओं द्वारा ईसीबी अनुमोदन मार्ग के तहत विचार किया जाएगा। च)। निम्नलिखित मानदंडों को संतोषजनक विनिर्माण गतिविधि में लगे बहु-राज्य सहकारी समितियां (i) सहकारी समिति वित्तीय रूप से विलायक है और (ii) को-ऑपरेटिव सोसाइटी इसके अद्यतित लेखा-परीक्षा बैलेंस शीट को प्रस्तुत करती है। छ)। भारत में औद्योगिक क्षेत्र और बुनियादी ढांचा क्षेत्र में लगे कॉर्पोरेट्स, अनुमत अंततः उपयोगों के लिए रुपये के खर्च के लिए ईसीबी का लाभ ले सकते हैं। ज)। गैर-सरकारी संगठनों (एनजीओ) माइक्रो फाइनेंस गतिविधियों में संलग्न हैं, इनकी अनुमति के लिए रुपये खर्च के लिए ईसीबी का उपयोग करने के लिए पात्र हैं। इस तरह के गैर-सरकारी संगठन (आई) को कम से कम 3 वर्षों के लिए एक अनुसूचित वाणिज्यिक बैंक के साथ संतोषजनक उधार लेने का संबंध होना चाहिए जो विदेशी मुद्रा में सौदा करने के लिए अधिकृत है और (ii) को प्रबंधन के बोर्ड कमेटी के lsquofit और propriquo स्थिति पर योग्यता के प्रमाण पत्र की आवश्यकता होगी नामित एडी बैंक से उधारकर्ता इकाई मैं)। सेवा क्षेत्र जैसे कॉर्पोरेट होटल, अस्पताल और सॉफ्टवेयर कंपनियां पूंजीगत गुड्स के आयात के लिए ईसीबी का लाभ उठा सकती हैं। जे)। पैरामीटर I ए (iii) में संकेतित स्वचालित मार्ग सीमा और परिपक्वता अवधि के दायरे से बाहर आने वाले मामले। ii)। मान्यताप्राप्त ऋणदाता (ए) उधारकर्ता अंतर्राष्ट्रीय स्तर पर मान्यता प्राप्त स्रोतों से (जैसे अंतर्राष्ट्रीय बैंकों), अंतर्राष्ट्रीय बैंकों, (ii) बहुपक्षीय वित्तीय संस्थानों (जैसे आईएफसी, एडीबी, सीडीसी, आदि) जैसे अंतरराष्ट्रीय स्तर पर मान्यता प्राप्त स्रोतों से ईसीबी बढ़ा सकते हैं। (Iv) निर्यात ऋण एजेंसियों, (v) उपकरण के आपूर्तिकर्ताओं, (vi) विदेशी सहयोगी और (vii) विदेशी इक्विटी धारक (पूर्ववर्ती ओसीबी के अलावा) (बी) एलसीक्फ़ोइरेइन इक्विटी धारक से जहां न्यूनतम इक्विटी को विदेशी इक्विटी ऋणदाता द्वारा सीधे रखा जाता है 25 प्रति लेकिन ऋण-इक्विटी अनुपात 4: 1 से अधिक है (अर्थात प्रस्तावित ईसीबी सीधी विदेशी इक्विटी होल्डिंग से चार बार अधिक है)। (सी) विदेशी संगठनों और व्यक्तियों जो निम्नलिखित सुरक्षा उपायों का पालन करते हैं, वे गैर-सरकारी संगठनों (एनजीओ) को ईसीबी मुहैया करा सकते हैं जो कि माइक्रो फाइनेंस गतिविधियों में लगे हैं। (i) ईसीबी को उधार देने के लिए प्रवासी संगठनों को विदेशी बैंक से उचित परिश्रम के प्रमाण पत्र प्रस्तुत करना होगा जो बदले में मेजबान देश नियामक के विनियमन के अधीन है और एडी बैंक को वित्तीय कार्रवाई कार्य बल (एफएटीएफ) के दिशानिर्देशों का पालन करता है। कर्ज़दार। उचित परिश्रम के प्रमाण पत्र में निम्न (i) शामिल होना चाहिए कि ऋणदाता कम से कम दो वर्षों की अवधि के लिए बैंक के साथ एक खाता रखता है, (ii) कि ऋणदाता संस्था स्थानीय कानून के अनुसार संगठित होती है और इसे अच्छे सम्मान में आयोजित किया जाता है व्यापार स्थानीय समुदाय और (iii) इसके खिलाफ कोई आपराधिक कार्रवाई लंबित नहीं है। (ii) व्यक्तिगत ऋणदाता को एक विदेशी बैंक से उचित परिश्रम का प्रमाण पत्र प्राप्त करना होगा, जो दर्शाता है कि ऋणदाता कम से कम दो वर्षों की अवधि के लिए बैंक में खाता रखता है। अन्य साक्ष्य दस्तावेज जैसे लेखापरीक्षित विवरण पत्र और आयकर रिटर्न जो विदेशी ऋण दे सकते हैं, को विदेशी बैंक द्वारा प्रमाणित और अग्रेषित करने की आवश्यकता होती है। ऐसे देशों से अलग-अलग उधारकर्ता जिनमें बैंकों को अपने ग्राहक को जानना जरूरी नहीं है (केवाईसी) दिशानिर्देश ईसीबी का विस्तार करने के लिए योग्य नहीं हैं iii)। राशि और परिपक्वता (ए) कॉर्पोरेट वित्तीय वर्ष के दौरान स्वचालित मार्ग के अंतर्गत 500 मिलियन अमरीकी डालर की मौजूदा सीमा से अधिक की स्वीकृति मार्ग के तहत 10 मिलियन से अधिक की औसत परिपक्वता के साथ ईसीबी का एक अतिरिक्त राशि का ईसीबी का लाभ उठा सकते हैं साल। अन्य ईसीबी मानदंड जैसे अंत-उपयोग, सब-इन-कॉस्ट छत, मान्यता प्राप्त ऋणदाता, आदि के साथ अनुपालन की आवश्यकता है। पूर्व भुगतान और कॉल पुट विकल्प, हालांकि, 10 वर्ष की अवधि तक इस तरह के ईसीबी के लिए अनुमत नहीं होंगे। (बी) बुनियादी ढांचा क्षेत्र में कॉर्पोरेट्स ईसीबी को 100 मिलियन अमरीकी डॉलर तक लाभान्वित कर सकते हैं और औद्योगिक क्षेत्र में कॉरपोरेट्स को प्रति यूनियन 500 मिलियन अमरीकी डालर की कुल सीमा के भीतर अनुमोदित अंत के उपयोग के लिए रुपये की पूंजीगत व्यय के लिए ईसीबी का फायदा मिल सकता है वर्ष, स्वचालित रूट के तहत (सी) माइक्रो फाइनेंस गतिविधियों में लगे गैर सरकारी संगठनों ने एक वित्तीय वर्ष के दौरान ईसीबी को 5 मिलियन डॉलर तक बढ़ा सकते हैं। नामित एडी बैंक को यह सुनिश्चित करना है कि ऋण लेने के समय में उधारकर्ता के विदेशी मुद्रा जोखिम को हेज किया जाता है। (डी) सेवा क्षेत्र में कॉर्पोरेट्स अर्थात होटल, अस्पतालों और सॉफ्टवेयर कंपनियां पूंजीगत वस्तुओं के आयात के लिए ईसीबी को 100 मिलियन अमरीकी डालर तक, प्रति उधारकर्ता प्रति वित्तीय वर्ष का लाभ ले सकती हैं। सभी लागतों में ब्याज दर, अन्य फीस और विदेशी मुद्रा में खर्च शामिल हैं जिसमें प्रतिबद्धता शुल्क, पूर्व भुगतान शुल्क और भारतीय रुपये में देय शुल्क शामिल है। इसके अलावा, भारतीय रुपयों में रोक लगाने का भुगतान सभी-इन-कॉस्ट की गणना के लिए बाहर रखा गया है। मौजूदा सभी लागत वाली सीमाएं निम्नानुसार हैं: समीक्षाधीन अवधि तक निम्नलिखित छतें मान्य हैं: औसत परिपक्वता अवधि 6 माह से अधिक एलआईबीओआर 350 आधार अंक पर सभी लागत वाली सीमाएं उधार या संबंधित बेंचमार्क की संबंधित मुद्रा के लिए (ए) निवेश जैसे के रूप में पूंजीगत वस्तुओं के आयात (विदेशी व्यापार नीति में डीजीएफटी द्वारा वर्गीकृत), नई परियोजनाओं का कार्यान्वयन, वास्तविक क्षेत्र में मौजूदा उत्पादन इकाइयों का आधुनिकीकरण विस्तार, भारत में छोटे और मध्यम उद्यमों (एसएमई) और बुनियादी ढांचा क्षेत्र सहित अंशतः औद्योगिक क्षेत्र इन्फ्रास्ट्रक्चर सेक्टर को (i) पावर, (ii) दूरसंचार, (iii) रेलवे, (iv) सड़क सहित पुल, (वी) समुद्री बंदरगाह और हवाई अड्डे, (vi) औद्योगिक पार्क और (vii) शहरी बुनियादी ढांचे (पानी की आपूर्ति, स्वच्छता और सीवेज परियोजनाएं) (बी) संयुक्त उद्यमों में विदेशी प्रत्यक्ष निवेश (जेवी) पूर्ण स्वामित्व वाली सहायक कंपनियों (डब्ल्यूओएस) विदेशों में जेवीडब्ल्यूओएस में भारतीय प्रत्यक्ष निवेश पर मौजूदा दिशानिर्देशों के अधीन है। (सी) विनिवेश प्रक्रिया में शेयरों का पहला चरण अधिग्रहण और अनिवार्य द्वितीय चरण में सार्वजनिक क्षेत्र के शेयरों के सरकारी स्टोक्सों विनिवेश कार्यक्रम के तहत जनता को पेशकश (डी) सेवा क्षेत्र में कंपनियों द्वारा पूंजीगत सामान का आयात, जैसे होटल, अस्पताल और सॉफ्टवेयर कंपनियां vi)। अंत-उपयोगों की अनुमति नहीं है (ए) ईसीबी की आय का उपयोग अनुदान I (बी) के तहत योग्य बैंकों और वित्तीय संस्थानों के अलावा किसी कॉरपोरेट कंपनी द्वारा भारत में पूंजी बाजार में निवेश या एक कंपनी (या उसके हिस्से का) प्राप्त करने के लिए अनुमति नहीं है। ) (i) (ए) और मैं (बी) (आई) (बी), (बी) रियल एस्टेट में ईसीबी की आय का उपयोग करने की अनुमति नहीं है, (सी) ईसीबी आय का उपयोग कार्यशील पूंजी, सामान्य कॉर्पोरेट उद्देश्य के लिए अनुमत नहीं है और मौजूदा रुपए के ऋणों का पुनर्भुगतान ऋण की गारंटी के अतिरिक्त जारी पत्र, बैंकों, वित्तीय संस्थानों और एनबीएफसी बैंकों द्वारा दिए गए आराम से पत्र या ईसीबी से संबंधित पत्रों का पत्र आम तौर पर बैंकों द्वारा गारंटीकृत क्रेडिट या आराम के पत्र का गारंटी देने के लिए आवेदन नहीं किया जाता है, एसएमई के मामले में ईसीबी से संबंधित वित्तीय संस्थाएं विवेकपूर्ण मानदंडों के आधार पर योग्यता पर विचार करती हैं। भारतीय कपड़ा उद्योग में क्षमता विस्तार और तकनीकी उन्नयन को बढ़ावा देने के लिए वस्त्र उद्योगों के आधुनिकीकरण या वस्त्र इकाइयों के विस्तार के लिए ईसीबी के संबंध में बैंकों द्वारा क्रेडिट के स्टैंडबाय पत्र, उपक्रम के पत्र और आराम के पत्र के मुद्दे के तहत विचार किया जाएगा। विवेकपूर्ण मानदंडों के अधीन अनुमोदन मार्ग ऋणदाता आपूर्तिकर्ता को प्रदान की जाने वाली सुरक्षा का विकल्प उधारकर्ता को दिया जाता है हालांकि, विदेशी ऋणदाता के पक्ष में अचल संपत्तियों और वित्तीय प्रतिभूतियों, जैसे शेयरों का निर्माण, 3 मई 2000 की अधिसूचना सं। फेमा 21 आरबी -2000 की अधिसूचना 8 और अधिसूचना सं। फेमा 20RB - 2000 दिनांक 3 मई, 2000 को क्रमशः समय-समय पर संशोधित किया गया है। झ)। ईसीबी की पार्किंग विदेशी मुद्रा व्यय के लिए अनुमोदित अंतिम उपयोगों के लिए उठाए गए विदेशी मुद्रा व्यय के लिए विदेशों में खड़ी होगी और भारत में नहीं भेजे जाएंगे और भारत में ईसीबी को वास्तविक व्यय के लिए रुपए के खर्च के लिए उगाया जाएगा, जो भारत में वास्तविक आवश्यकता तक विदेशों में खड़ी होगी। विदेशी पूंजी से निकलकर ईसीबी का निवेश निम्न तरल परिसंपत्तियों में किया जा सकता है (ए) जमाराशियां या जमा किए गए प्रमाण पत्र या अन्य उत्पादों जो कि मानक और गरीब फिच IBCA या एए 3 (एडीए) (ए) द्वारा एयू (एए) से कम नहीं हैं, मूडीजर्सोस द्वारा (बी) विदेशी भारत में एक एडी बैंक की शाखा और (सी) खजाना बिल और एक वर्ष की परिपक्वता अवधि के अन्य मौद्रिक साधनों को न्यूनतम रेटिंग के रूप में दर्शाया गया है। निधियों को इस तरह निवेश किया जाना चाहिए कि भारत में उधारकर्ता द्वारा धन की आवश्यकता होती है और जब निवेश को समाप्त किया जा सकता है। (ए) भारतीय रिज़र्व बैंक के पूर्व अनुमोदन के बिना एसी बैंक द्वारा 500 मिलियन अमेरिकी डॉलर की प्रीपेमेंट की अनुमति दी जा सकती है, जो कि निर्धारित न्यूनतम न्यूनतम अवधि की परिपक्वता अवधि के साथ अनुपालन के अधीन है। (बी) 500 मिलियन अमरीकी डॉलर से अधिक की राशि के लिए ईसीबी का पूर्व भुगतान रिज़र्व बैंक द्वारा अनुमोदन मार्ग के तहत माना जाएगा। XI)। एक मौजूदा ईसीबी के पुनर्वित्त मौजूदा ईसीबी की ताजा स्थिति को एक नए ईसीबी बढ़ाने से पुनर्वित्त किया जा सकता है जिससे कि नए ईसीबी को कम कीमत पर उठाया गया है और मूल ईसीबी की बकाया परिपक्वता को बनाए रखा है। नामित एडी बैंक को समय-समय पर सरकारी रिजर्व बैंक द्वारा जारी ईसीबी दिशानिर्देशों के अनुरूप मूलधन, ब्याज और अन्य शुल्कों की किश्तों का प्रेषण करने की सामान्य अनुमति है। आवेदकों को ईसीबी के रूप में नामित एडी बैंक के माध्यम से एक आवेदन पत्र प्रस्तुत करने के लिए मुख्य महाप्रबंधक-प्रभारी, विदेशी मुद्रा विभाग, भारतीय रिज़र्व बैंक, केंद्रीय कार्यालय को जमा करना होगा। केंद्रीय कार्यालय। बाहरी वाणिज्यिक उधार विभाग, मुंबई 400 001, आवश्यक दस्तावेजों के साथ। xiv)। अधिकार प्राप्त समिति रिज़र्व बैंक ने अनुमोदन मार्ग के तहत आने वाले प्रस्तावों पर विचार करने के लिए एक अधिकार प्राप्त समिति की स्थापना की है। द्वितीय। रिपोर्टिंग व्यवस्था और सूचना का प्रसार i) रिपोर्टिंग व्यवस्थाएं ए) प्रक्रिया को सरल बनाने के लिए, ऋण समझौते की प्रतिलिपि प्रस्तुत करने के साथ ही इसे छोड़ दिया जाता है ख)। ऋण पंजीकरण संख्या के आबंटन के लिए, उधारकर्ताओं को कंपनी सचिव (सीएस) या चार्टर्ड एकाउंटेंट (सीए) द्वारा निर्धारित एडी बैंक को प्रमाणित डुप्लिकेट में फॉर्म 83 प्रस्तुत करने की आवश्यकता होती है। एक प्रति नामित एडी बैंक द्वारा निदेशक, भुगतान सांख्यिकी विभाग, सांख्यिकी और सूचना प्रणाली विभाग (डीएसआईएम), भारतीय रिजर्व बैंक, बांद्रा-कुर्ला कॉम्प्लेक्स, मुंबई 400 051 नोट: अग्रिम रूप से ऋण की प्रतियां समझौता, एफसीसीबी के लिए ऑफर डॉक्यूमेंट फॉर्म 83 के साथ प्रस्तुत करने की आवश्यकता नहीं है। सी) उधारकर्ता, भारतीय रिजर्व बैंक के डीएसआईएम से ऋण पंजीकरण संख्या प्राप्त करने के बाद ही ऋण को ऋण से नीचे कर सकता है। घ)। उधारकर्ताओं को मासिक आधार पर नामित एडी बैंक द्वारा प्रमाणित ईसीबी -2 रिटर्न दाखिल करने की आवश्यकता होती है ताकि वह महीने के करीब से सात कार्यदिवसों तक डीएसआईएम, आरबीआई तक पहुंच सकें। नोट: ईसीबी से संबंधित सभी पिछले रिटर्न अर्थात् ईसीबी 3 ndashECB 6 31 जनवरी, 2004 से प्रभाव से बंद कर दिया गया है। Ii)। सूचना प्रसार करना अधिक पारदर्शिता प्रदान करने के लिए, स्वचालित रूट और अनुमोदन मार्ग दोनों के तहत उधारकर्ता, राशि, उद्देश्य और ईसीबी की परिपक्वता के संबंध में जानकारी रिज़र्व बैंक की वेबसाइट पर मासिक आधार पर एक महीने के अंतराल के साथ रखी जाती है। जो इसे संबंधित है तृतीय। ढांचागत दायित्वों को बढ़ावा देने के लिए कॉरपोरेट्स को घरेलू स्तर पर संसाधनों को बढ़ाने और विनिमय दर के जोखिमों को कम करने के लिए सक्षम होने के लिए, घरेलू रुपए के मूल्यबद्ध संरचित दायित्वों को अंतरराष्ट्रीय बैंक अंतर्राष्ट्रीय वित्तीय संस्थानों द्वारा संयुक्त उद्यम सहयोगियों द्वारा बढ़ाए गए ऋण की अनुमति है। इस तरह के आवेदनों को स्वीकृति मार्ग के तहत माना जाएगा। यह सुनिश्चित करने की प्राथमिक जिम्मेदारी यह सुनिश्चित करने के लिए कि ईसीबी का उपयोग उठाए गए ईसीबी ईसीबी दिशानिर्देशों के अनुरूप हैं और रिजर्व बैंक के नियमों का निर्देश संबंधित उधारकर्ता की है और ईसीबी दिशानिर्देशों के किसी भी उल्लंघन को गंभीरता से देखा जाएगा और फेमा 1999 (सीएफए। एपी (डीआईआर सीरीज) परिपत्र सं। 31 दिनांक 1 फरवरी, 2005)। नामित एडी बैंक को यह भी सुनिश्चित करने की आवश्यकता है कि ईसीबी के उपयोग को बढ़ाने से प्रमाणन के समय ईसीबी दिशानिर्देशों का अनुपालन किया जाता है। (मैं)। इक्विटी में ईसीबी का रूपांतरण निम्नलिखित शर्तों के अधीन है: (ए) कंपनी की गतिविधि को विदेशी प्रत्यक्ष निवेश के लिए स्वचालित रूट के तहत कवर किया गया है या विदेशी इक्विटी भागीदारी के लिए सरकार द्वारा स्वीकृति प्राप्त की गई है, (बी) विदेशी इक्विटी में ऋण के ऐसे रूपांतरण के बाद इक्विटी इक्विटी में है, यदि कोई हो, (सी) शेयरों की कीमत एसईबीआई के अनुसार है और पहले सूचीबद्ध कंपनियों में मामले में सूचीबद्ध सीसीआई दिशानिर्देशों के मामले हैं। (Ii)। ईसीबी का रूपांतरण निम्नानुसार रिज़र्व बैंक को सूचित किया जा सकता है: (ए) उधारकर्ताओं को रिज़र्व बैंक के संबंधित क्षेत्रीय कार्यालय में एफसी-जीपीआर के रूप में और साथ ही फॉर्म ईसीबी- 2 डीएसआईएम को सौंप दिया गया, आरबीआई महीने के करीब से सात कार्य दिवसों के भीतर, जिसमें यह संबंधित है। ईसीबी -2 फॉर्म के शीर्ष पर स्पष्ट रूप से इक्विशन को परिवर्तित करने वाले शब्दों को एलडीक्यूईसीबी स्पष्ट रूप से सूचित किया जाना चाहिए। एक बार की सूचना दी, बाद के महीनों में ईसीबी -2 के दाखिल करने की आवश्यकता नहीं है। (बी) उत्कृष्ट ईसीबी के इक्विटी में आंशिक रूपांतरण के मामले में, उधारकर्ताओं को आवश्यक रूप से परिवर्तित क्षेत्र को एफसी-जीपीआर के रूप में संबंधित क्षेत्रीय कार्यालय के साथ-साथ ईसीबी-2 के रूप में रूपांतरित रूप से परिवर्तित किए गए हिस्से से अलग-अलग हिस्से में अंतरित करने की आवश्यकता है। ईसीबी -2 फॉर्म के शीर्ष पर आंशिक रूप से इक्विडरशो में परिवर्तित किए जाने वाले शब्दों को एलडीकेओसीबी के संकेत दिए जाने चाहिए। बाद के महीनों में, ईसीबी के बकाया भाग को ईसीबी -2 प्रपत्र में डीएसआईएम को सूचित करना चाहिए। छठी। ईसीबी एडी बैंकों की क्रॉलिशन, भारतीयों द्वारा रुपए में उठाए गए ईसीबी के लिए प्रदान की गई गारंटी गारंटी से उत्पन्न होने वाली अपनी विदेशी मुद्रा देयता को क्रिस्टल करने के लिए डिजाइन, विदेशी मुद्रा विभाग, विदेशी वाणिज्यिक उधार विभाग, मुख्य महाप्रबंधक को आवेदन कर सकते हैं, भारतीय रिज़र्व बैंक, केंद्रीय कार्यालय मुंबई, पूर्ण विवरण देना, अर्थात उधारकर्ता का नाम, उधारी की गई राशि, परिपक्वता, परिस्थितियों में गारंटी पत्र, आराम की तिथि, आबादी की विदेशी शाखा की देनदारियों पर प्रभाव और अन्य प्रासंगिक कारकों का आश्वासन। सातवीं। पूर्ववर्ती 5 मिलियन अमरीकी डालर योजना के तहत ईसीबी नामित एडी बैंकों को पूर्ववर्ती 5 मिलियन योजना के तहत उठाए गए ऋणों के लिए पुनर्भुगतान अवधि बढ़ाने के लिए अनुमोदित किया गया है, बशर्ते कि विदेशों में किसी भी अतिरिक्त लागत के बिना इस तरह के पुनर्व्यवयोजना के लिए एक सहमति पत्र है। लोन की ऋण पंजीकरण संख्या के साथ मौजूदा और संशोधित पुनर्भुगतान अनुसूची के साथ इस तरह की मंजूरी को शुरू में मुख्य महाप्रबंधक-प्रभारी, विदेशी मुद्रा विभाग, भारतीय रिजर्व बैंक, केंद्रीय कार्यालय, को सूचित किया जाना चाहिए। ईसीबी डिवीजन, मुंबई स्वीकृति के सात दिनों के भीतर और बाद में ईसीबी ndash में 2. भारत में आयात के लिए व्यापार क्रेडिट्स क्रेडिट क्रेडिट्सक्को (टीसी) तीन साल से कम की परिपक्वता के लिए सीधे विदेशी सप्लायर, बैंक और वित्तीय संस्थान द्वारा आयात के लिए बढ़ाए गए क्रेडिट का संदर्भ देते हैं । फार्मेस के स्रोत पर निर्भर करते हुए, ऐसे ट्रेड क्रेडिट्स में आपूर्तिकर्ताओं क्रेडिट या क्रेता क्रेडिट्स शामिल हैं। आपूर्तिकर्ता क्रेडिट विदेशी आपूर्तिकर्ता द्वारा भारत में आयात करने के लिए श्रेय से संबंधित है, जबकि खरीदार ऋण क्रेडिट भारत में आयात के भुगतान के लिए ऋण के संदर्भ में तीन साल से कम अवधि के परिप्रेक्ष्य के लिए भारत के बाहर बैंक या वित्तीय संस्था के आयातक द्वारा व्यवस्थित किए गए हैं। यह ध्यान दिया जा सकता है कि तीन साल और उससे ऊपर के लिए क्रेता क्रेडिट और आपूर्तिकर्ताओं का क्रेडिट बाह्य वाणिज्यिक उधार (ईसीबी) की श्रेणी के अंतर्गत आते हैं, जो ईसीबी के दिशानिर्देशों द्वारा नियंत्रित होते हैं। ए)। राशि और परिपक्वता ईबी बैंकों को डीजीएफटी की वर्तमान विदेश व्यापार नीति के अंतर्गत आयात करने के लिए 20 लाख डालर प्रति आयात लेनदेन तक भारत में आयात करने के लिए ट्रेड क्रेडिट स्वीकृत करने की अनुमति है, एक वर्ष तक की अवधि (शिपमेंट की तारीख से) । डीजीएफटी द्वारा वर्गीकृत पूंजीगत माल के आयात के लिए, एडी बैंक एक से अधिक वर्ष की परिपक्वता अवधि और तीन साल से कम के साथ आयात लेनदेन के लिए 20 मिलियन अमरीकी डालर तक ट्रेड क्रेडिट स्वीकार कर सकते हैं। स्वीकार्य अवधि से परे कोई रोल-ओवर एक्सटेंशन की अनुमति नहीं दी जाएगी। एडी बैंक आयात लेनदेन के अनुसार 20 मिलियन अमरीकी डॉलर से अधिक व्यापार ऋण को मंजूरी नहीं देंगे। मौजूदा सभी लागत वाली सीमाएं निम्नानुसार हैं औसत परिपक्वता अवधि 6 माह से अधिक की सभी लागत वाली सीमाएं: डाउनलोड करने योग्य व्यापारिक पुस्तकें डाउनलोड करने योग्य व्यापारिक पुस्तकें जुड़ी हुई तारीख जुलाई 2012 स्थान एशिया डाक 279 बस इंतजार करें जब मैं पाइपस्ट्रैडमस, टोकन से मिलता हूं। मैं हमेशा उसे भूल गया जब चैट रूम में उससे मिलना था। पूछना चाहते हैं और यहां हर किसी के साथ बेवकूफों के स्कूल को प्रकाशित करने के लिए अनुमति प्राप्त करने के लिए यहां अपने समर्पण और ट्रैक रिकॉर्ड के साथ यहां मुफ्त में पढ़ने के लिए और यहां तक ​​कि ट्रैक रिकॉर्ड के रूप में भी, मेरी पसंदीदा पाठ यहां पढ़कर, बेबीपिप में, डॉ। पिप्सलो वर्ग के एफएक्स साइकोलॉजी मैंने पहले ही ईबुक बना दिया है और यहां तक ​​कि समाचार रिहाई पर मेरे साप्ताहिक विश्लेषण को याद मत करना, यदि सब लोग यहां मानते हैं कि इस लिंक पर सहायक हो जाएगा: बाय टूकन, मुझे आशा है कि जब हम चैप्टर में पिपस्ट्रैडमस से मिलते हैं, और आशा भी करते हैं कि वे मुझे उस ईबुक को प्रकाशित करने की अनुमति देते हैं सदस्य यहाँ विदेशी मुद्रा: डेमो इससे पहले कि आप गोता लगाएँ क्योंकि विदेशी मुद्रा (एफएक्स) एक विकेन्द्रीकृत बाजार है जिसमें डीलरों को स्वामित्व वाली ट्रेडिंग प्लेटफॉर्म के माध्यम से अपनी खुद की कीमत फ़ीड का प्रसार होता है, असली फंड तैयार करने से पहले प्रत्येक प्रकार के व्यापारिक सॉफ्टवेयर की विशेषताओं और विशिष्टताओं को सीखना महत्वपूर्ण है एक खाते में सौभाग्य से, खुदरा में, एफएक्स व्यापारियों डेमो डॉलर का उपयोग कर प्रत्येक मंच का परीक्षण कर सकते हैं। एफएक्स में प्रत्येक सम्माननीय डीलर संभावित ग्राहकों को अपने सॉफ्टवेयर का एक डेमो संस्करण डाउनलोड करने की अनुमति देता है। यह महत्वपूर्ण है कि ग्राहक को प्लेटफॉर्म लेआउट और ऑर्डर प्रविष्टि के माध्यम से परिचित होना है। यहां डेमो ट्रेडिंग के महत्व पर चर्चा की जा रही है और आपको यह बताना चाहिए कि 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Forex expert advisors, Defined quantity into a . binary option trader in pajamas torrent how to choose a binary options listed binary options platform software apple how to profit trading binary options courses facts about binary options trading 60 seconds option strategies bear market futures trading tips virtual stock market software download trade execution via our so i have a skill. wish no coding skills without risking. They intend on unique forex. On the sfl java trading developer resume. Trade strategy testing, its an advanced is binary options in the united states legitimate binary options trading examples good or bad The Amazing TurtleTrader Trend Following Story Note. TurtleTraderreg is the only location for the complete Turtle story and rulessince 1996. Michael Covels Turtle trading efforts span interviews with the most successful TurtleTrader, Jerry Parker. to his bestselling book The Complete TurtleTrader. Enjoy This is the story of how a group of ragtag students, many with no Wall Street experience, were trained to be millionaire traders. Think of Donald Trumps show The Apprentice, played out in the real world with real money and real hiring and firing. However, these apprentices were thrown into the fire and challenged to make money almost immediately, with millions at stake. They werent trying to sell ice cream on the streets of New York City. They were trading stocks, bonds, currencies, oil, and dozens of other markets to make millions. This story blows the roof off the conventional Wall Street success image so carefully crafted in popular culture: prestige, connections, and no place at the table for the little guy to beat the market (and beating the market is no small task). Legendary investor Benjamin Graham always said that analysts and fund managers as a whole could not beat the market because in a significant sense they were the market. On top of that, the academic community has argued for decades about efficient markets, once again implying there is no way to beat market averages. Yet making big money, beating the market, is doable if you dont follow the herd, if you think outside the box. People do have a chance to win in the market game, but he or she needs the right rules and attitude to play by. And those right rules and attitude collide head-on with basic human nature. This real-life apprentice story would still be buried had I not randomly picked up the July 1994 issue of Financial World magazine, featuring the article Wall Streets Top Players. On the cover was famed money manager George Soros playing chess. Soros had made 1.1 billion for the year. The article listed the top one hundred paid players on Wall Street for 1993, where they lived, how much they made, and in general how they made it. Soros was first. Julian Robertson was second, at 500 million. Bruce Kovner was fifth, at 200 million. Henry Kravis of KKR was eleventh at 56 million. Famed traders Louis Bacon and Monroe Trout were on the list, too. The rankings (and earnings) provided a crystal-clear landscape of who was making Master of the Universe money. Here were, without a doubt, the top players in the game. Unexpectedly, one of them just happened to be living and working outside Richmond, Virginia, two hours from my home. Twenty-fifth on the list was R. Jerry Parker, Jr. of Chesapeake Capitaland he had just made 35 million. Parker was not yet forty years old. His brief biography described him as a former pupil of Richard Dennis (who) and noted that he was trained to be a Turtle (what). Parker was described as a then twenty-five-year-old accountant who had attended Denniss school in 1983 to learn his trend-tracking system. The article also said he was a disciple of Martin Zweig (who), who just happened to be thirty-third on the highest-paid list that year. At that moment the name Dennis was neither more nor less important than Zweig, but the implication was that these two men had made Parker extremely rich. I studied that list intently, and Parker appeared to be the only one in the top hundred advertised as having been trained. For someone like myself, looking for ways to try and earn that kind of money, his biography was immediate inspiration, even if there were no real specifics. Here was a man who bragged that he was a product of the Virginia boondocks, loved country music, and preferred to keep as far away from Wall Street as possible. This was no typical moneymaking storythat much I knew. The common wisdom that the only way you could find success was by working in eighty-story steel-and-glass towers in New York, London, Hong Kong, or Dubai was clearly dead wrong. Jerry Parkers office was absolutely in the middle of nowhere, thirty miles outside Richmond in Manakin-Sabot, Virginia. Soon after reading the magazine, I drove down to see his office, noting its lack of pretense, and sat in the parking lot thinking, You have got to be kidding me. This is where he makes all that money Malcolm Gladwell famously said, There can be as much value in the blink of an eye as in months of rational analysis. Seeing Parkers country office was an electrical impulse for me, permanently dispelling the importance of location. But I knew nothing else at the time about Jerry Parker other than what was in that 1994 issue of Financial World. Were there more of these students How did they become students What were they taught And who was this man Dennis who had taught Parker and others Richard Dennis was an iconoclast, a wildcatting Chicago trader not affiliated with a major investment bank or Fortune 500 firm. As the locals were fond of saying on Chicago trading floors, Dennis bet his left nut. In 1983, by the time he was thirty-seven, hed made hundreds of millions of dollars out of an initial grubstake of a few hundred. Dennis had done it on his own terms in less than fifteen years, with no formal training or guidance from anyone. He took calculated risks leveraging up huge amounts of money. If he liked a trade, he took all of it he could get. He lived the markets as a betting business. Dennis figured out how to profit in the real world from an understanding of behavioral finance decades before Nobel prizes were handed out to professors preaching theory. His competitors could never get a handle on his consistent ability to exploit irrational market behavior throughout all types of markets. His understanding of probabilities and payoffs was freakish. Dennis simply marched to a different drum. He eschewed publicity about his net worth even though the press speculated about it extensively. I find that kind of gauche, said Dennis.1 Perhaps he was reticent to focus on his wealth because what he really wanted to prove was that his earning skills were nothing special. He felt anyone could learn how to trade if taught properly. His partner, William Eckhardt, disagreed, and their debate resulted in an experiment with a group of would-be apprentice traders recruited during 1983 and 1984 for two trading classes. That Turtle name It was simply the nickname Dennis used for his students. He had been on a trip to Singapore and visited a turtle-breeding farm. A huge vat of squirming turtles inspired him to say, We are going to grow traders just like they grow turtles in Singapore. After Dennis and Eckhardt taught novices like Jerry Parker how to make millions and the school closed, the experiment morphed into word-of-mouth legend over the years supported by few hard facts. The National Enquirer version of the story was captured in 1989 by a Wall Street Journal headline, Can the skills of successful trading be learned Or are they innate, some sort of sixth sense a lucky few are born with Since the 1980s are long past, many might wonder if the Turtles story still has relevance. It has more relevance than ever. डेनिस ने अपने छात्रों को सिखाया दर्शन और नियम, उदाहरण के लिए, अरब-डॉलर से अधिक हेज फंड द्वारा नियोजित व्यापारिक रणनीति के समान हैं। True, the typical stock-tip chaser glued daily to CNBC has not heard this story, but the players on Wall Street, the ones who make the real money, know. The inside story has not been told to a wider audience until now because Richard Dennis is not a household name today, and because so much has happened on Wall Street since 1983. After the experiment ended, the characters, both teachers and Turtles, went their separate ways and an important human experiment fell through the cracks, even though what took place is as significant today as then. The effort to get the real story out there started to gain momentum in 2004, when I was invited to visit Legg Masons headquarters in Baltimore following the release of my first book, Trend Following. After lunch, I found myself in a classroom on the top floor with Bill Miller, the fund manager of the 18 billion Legg Mason Value Trust fund (LMVTX). Beating the Standard 038 Poors 500-stock index for fifteen years straight put him in a similar league as Warren Buffett. Miller, like Dennis, had taken extraordinary calculated risks and more often than not been proven right. On this day he was lecturing a roomful of eager trainees. Out of the blue, Miller invited me to the lectern to address his class. The first questions, however, came straight from Miller and Michael Mauboussin (Legg Masons chief investment strategist). They were, Tell us about Richard Dennis and the Turtles. At that moment, I realized that if these two Wall Street pros wanted to know more about Dennis, his experiment, and the Turtles, it was clear a much larger audience would want to hear the story. However, as someone not there in 1983, I knew the task of telling a complete story from an objective vantage, with so many competing characters and competing agendas, was going to be a serious challenge. Getting those who lived the experience to talk, coupled with sleuth-like research to corroborate everything, was the only way to make this story really come alive. That said, behind the scenes the soap opera of those Turtles who worked hard to prevent this books publication is a saga in itself. Still, the biggest problem with a story like this is that most people dont want to actually understand how the real pros make big money. They want the road to riches to be effortless. Look at the collective public fascination with Jim Cramera man who is the polar opposite of Richard Dennis and Jerry Parker. Cramer is no doubt intelligent, but tuning into his extremely popular Mad Money TV show is like watching a traffic accident. There is a live studio audience that hoots and hollers at Cramers fundamentally driven buy signals and wild prop-smashing antics. In one word: bullshit. That said, a lot of people, many highly educated, believe that Cramers way is the way to get rich. Instead of employing a statistical thinking toward market decisions, the general public keeps investing based on impulsive feelings, letting an assortment of emotional biases rule their lives. In the end, to their detriment, people are always risk-adverse toward gains, but risk-seeking toward losses. They are stuck. The average newbie investors method for success is not pretty. He gets in because his friends are doing it. Then the news media start up the stories of little guys doing well during a bull market. They all start to invest by picking stocks with low prices. As the market roars in their favor, thoughts of crashes never enter their mind (With all the money in there, it could never go down). They never see their own slaughter coming, even though their market bubble is never different from past ones. The media tell us that average investors now supposedly understand the concept of risk, yet worrying about possibilities while ignoring probabilities is at epidemic levels. People gamble away fortunes on money-losing hunches or double down when logic says to fold. At the end of a lifetime they are never any closer to learning how to do it right. But outside of the herd there are the special few, who have the uncanny knack for knowing when to buy and sell, combined with an uncanny knack to properly assess risk. Richard Dennis mastered that uncanny knack by his early twenties. Unlike the general public wedded to their feelings to make decisions Dennis used mathematical tools to calculate risk and used it to his advantage. What he learned and what he taught students never resembled Jim Cramer barking stock tips. More important, Dennis proved that his ability to make money in the markets was not luck. His students, mostly novices, made millions for him and themselves. What was the real story, and how did the Turtles learn their craft What trading rules were they taught, and how can an average trader or investor use those insights today in his portfolio What happened to them after the experiment, in the ensuing years Finding the answers to those questions, with and without Dennis and his students cooperation, has kept me passionately curious since 1994. I am not alone in that curiosity. As author Steve Gabriel wrote on Yahoo Finance recently, The experiment has already been done that shows that we can all learn to trade for a living if we want to. That is why the Turtles matter. The Turtles are an answer to the age-old question of nature versus nurture, the living proof of the single most famous Wall Street school for making money. Nurture versus Nature In the early 1980s, when Chicagos reigning trader king, Richard Dennis, decided to conduct his real-life social experiment, Wall Street was heating up. The stock market was at the start of a huge bull market. On the world stage, Iraq had invaded Iran. Lotus Development had released Lotus 1-2-3, and Microsoft had put their new word processing program (Word) on the market. President Reagan, much to the liberally minded Denniss chagrin, declared it The Year of the Bible. In order for Dennis to find his special breed of student guinea pigs, he circumvented conventional recruitment methods. His firm, C038D Commodities, budgeted 15,000 for classified ads in the Wall Street Journal, Barrons, and the International Herald Tribune seeking trainees during late fall 1983 and 1984. Avid job seekers saw this: Richard J. Dennis of C038D Commodities is accepting applications for the position of Commodity Futures Trader to expand his established group of traders. Mr. Dennis and his associates will train a small group of applicants in his proprietary trading concepts. Successful candidates will then trade solely for Mr. Dennis: they will not be allowed to trade futures for themselves or others. Traders will be paid a percentage of their trading profits, and will be allowed a small draw. Prior experience in trading will be considered, but is not necessary. Applicants should send a brief resume with one sentence giving their reasons for applying to: C038D Commodities 141 W. Jackson, Suite 2313 Chicago, IL 60604 Attn: Dale Dellutri Applications must be received by October 1, 1984. No telephone calls will be accepted. Lost in the back pages of national dailies, the ad attracted surprisingly few respondents when you consider what Dennis was offering. But then, people dont usually expect the road to riches to be in plain sight. The ad invited anyone to join one of Chicagos most successful trading firms, making experience optional. It was as if the Washington Redskins had advertised open positions regardless of age, weight, or football experience. Perhaps most stunning was that C038D Commodities was going to teach proprietary trading concepts. This was unheard of at the time (and still is today), since great moneymaking trading systems were always kept under lock and key. Denniss recruitment process took place long before the chain - reaction flow of Craigs List ads that attract in thousands of resumes within hours for any job. However, it was 1983, and reaching out to touch the world with the flick of a blog post was not yet reality. Potential students who were ultimately hired recall being stunned. This cant be what I think it is was a common refrain. It was, unbelievably, an invitation to learn at the feet of Chicagos greatest living trader and then use his money to trade and take a piece of the profits. One of the greatest educational opportunities of the century garnered responses ranging from a sentence written on a coconut to the mundane I think I can make money for you. Lets face it, guessing what would make a wealthy, reclusive, and eccentric trader take notice of you in order to get to the next stepa face-to-face interviewhad no precedent. This casting of a wide net was all part of Denniss plan to resolve his decade-long nature-versus-nurture debate with his partner William Eckhardt. Dennis believed that his ability to trade was not a natural gift. He looked at the markets as being like Monopoly. He saw strategies, rules, odds, and numbers as objective and learnable. In Denniss book, everything about the markets was teachable, starting with his very first prerequisite: a proper view of money. He didnt think about money as merely a means to go buy stuff at the mall, the way most people do. He thought of money as a way to keep score. He could just as easily have used pebbles to keep count. His emotional attachment to dollars and cents appeared nonexistent. Dennis would say, in effect, If I make 5,000, then I can bet more and potentially make 25,000. And if I make 25,000, I can bet that again to get to 250,000. Once there, I can bet even more and get to a million. He thought in terms of leverage. That was teachable in his book, as well. On the other hand, William Eckhardt was solidly rooted in the nature camp (either youre born with trading skills or youre not). Dennis explained the debate, My partner Bill has been a friend since high school. We have had philosophical disagreements about everything you could imagine. One of these arguments was whether the skills of a successful trader could be reduced to a set of rules. That was my point of view. Or whether there was something ineffable, mystical, subjective, or intuitive that made someone a good trader. This argument had been going on for a long time, and I guess I was getting a little frustrated with idle speculation. Finally, I said, Here is a way we can definitely resolve this argument. Lets hire and train people and see what happens. He agreed. It was an intellectual experiment.1 Even though Eckhardt did not believe traders could be nurtured, he had faith in the underdog. He knew plenty of multimillionaires who had started trading with inherited wealth and bombed. Eckhardt saw them lose it all because they didnt feel the pain when they were losing: Youre much better off going into the market on a shoestring, feeling that you cant afford to lose. Id rather bet on somebody starting out with a few thousand dollars than on somebody who came in with millions. The ramifications of Dennis and Eckhardts intellectual experiment opened a Pandoras box of opinions and biases. Measuring and judging people by their IQ board scores, LSAT, GPA, degrees, or whatever other metric, is the way most of society operates. Yet if an IQ measure or test score was the only ticket needed for success, then all smart people would be loaded, which is obviously not the case. Stephen Jay Gould, the late great American paleontologist, evolutionary biologist, and historian of science, was always quick to eschew societys misconceptions about intelligence: We like to think of America as a land with generally egalitarian traditions, a nation conceived in liberty and dedicated to the proposition that all men are created equal. However, Gould saw America slipping toward measures and ratios as a sole means of predicting life success and was appalled at the increasing predilection of Americans to use a hereditarian interpretation of IQ as a limiting tool. Dennis, like Gould, was not about to be taken in by a hereditary interpretation of IQ. His aim was to implant his mental software into the brains of his students, and then place them into his controlled environment to see how they would react and perform. That someone of Denniss stature and success would be so determined to prove nurture over nature that he would teach his proprietary trading methods to others was extraordinary. Certainly his partner was surprised that he was willing to put so much of his own money in the hands of amateurs. With a dark beard and sideburns and a receding hairline, William Eckhardt bore an uncanny resemblance to Lenin and cut a sinewy, energetic figure, the polar opposite of the over-six-foot-tall rotund Dennis. Of the two, he was the true mathematician, with a masters in mathematics from the University of Chicago and four years of doctoral research in mathematical logic. But for the purpose of their natureversus-nurture debate, Eckhardt was the unapologetic biological determinist, certain that his partner was a savant, an introverted genius with special genetic talents. Today, there are plenty of people who would still argue against Dennis, insisting that biological determinism, or the notion that genetics predicts the physical and behavioral nature of an organism, cant be overcome.5 Thats bad news for a potentially successful trader or entrepreneur in any field who doesnt have the so-called pedigree or right IQ score. The irony is that even though Denniss experiment proved otherwise over twenty years ago, success in the markets is still perceived by many as a virtual IQ caste system. Skeptics of Denniss Turtle experiment have long rolled out barrages of excuses about how serendipitous answering that little ad was. They argue it would have been impossible for anyone, except insiders, to have known that ad was the ticket to cracking Wall Streets Top 100 paid traders (like Jerry Parker did). How could anyone know that an ad could potentially bypass what Warren Buffett has affectionately called the ovarian lottery and give a random group of people the chance to make millions Its hard to accept that fact. Its too much like a Hollywood script. Its a Small World Richard Dennis wanted a mishmash of personalities, similar to MTVs Real World and their diverse casting calls. He selected both far-rightwing conservatives and bleeding-heart liberals. A high school graduate and an MBA were picked from the thousand-plus applicants who threw their hats into the ring. The wild cross-section of his final Turtle picks demonstrated Denniss diversity desires. There were college graduates from the State University of New York at Buffalo (business), Miami University in Ohio (economics), the New England Conservatory of Music (piano, music theory), Ferrum College in Virginia (accounting), Central Connecticut State University (marketing), Brown University (geology), the University of Chicago (Ph. D. in linguistics), Macalester College (history), and the United States Air Force Academy. Others Dennis students had recently held jobs at CushmanWakefield (security guard), Caterpillar Tractor (salesperson), Collins Commodities (broker), the Ground Round Restaurant (assistant manager), A. G. Becker (phone clerk), Palomino Club (bartender), and Dungeons and Dragons (board game designer). One student simply declared his status as unemployed. Earlier job histories of those who made the final cut were even more mundane: kitchen worker, teacher, prison counselor, messenger, accounting assistant, and waiter. Dennis selected one woman from the ad, a rarity in the 1980s all boys world of Chicago trading. He also selected gay students, whether he knew their orientation at the time or not. His picks ran the gamut from mild-mannered, professional academics to regular-guy blue-collar types, to some with wildly volatile personalities. There were certain things Dennis was looking for. He wanted students who showed a willingness to take calculated risks. Those who stood out from the herd in some kind of an unconventional way had a leg up. This wasnt a normal hiring process in the early 1980s, nor would it be normal now. Today, MBA types, for example, are geared to the intellectual rigors of running a company but are reluctant to get their hands dirty. They are the ones who think IQ and connections are all they need. They dont want to do the hard work. They dont want to really take a risk.6 Dennis didnt want those people. He was searching for people who enjoyed playing games of chance. He was looking for people who could think in terms of odds. Think like a Vegas handicapper You were more likely to get an interview. None of this was surprising to those who knew Dennis. Reacting to opportunities that others never saw was how he marched through life. With a story like this, its not hard to imagine the legend that has built up over the years. The experiment has inspired a cult-like reverence, often passed along by word of mouth. However, Charles Faulkner, a modeler of great traders, was instantly struck by the deeper meaning of Denniss experiment. He wondered how Dennis knew, saying, I would have sided with Bills skepticism. Even ifit was teachable, it certainly should have taken more effort and a much longer time than Dennis allowed for learning it. The experiment, and more significantly the results, violated all of my beliefs around effort and merit and reward. If something was that easy to learn, it shouldnt pay so well and vice versa. I marveled at the range of thinking, awareness, and inference, this implied. Dennis and Eckhardt taught their students everything they needed in only two weeks to trade bonds, currencies, corn, oil, stocks, and all other markets. In the end, a persistent drive for winning combined with a healthy dose of courage would be mandatory for Denniss students long-term survival. Before getting into what really happened with the Turtles, who the winners and losers were and why, its crucial to get acquainted with what made Dennis tick in the first place. Knowing how a regular guy from the South Side of Chicago made 1 million by the age of twenty five in the early 1970s and 200 million by the age of thirty-seven in the early 1980s is the first step toward understanding why nurture won out. Note: Keep exploring, but consider reading the book. subscribing to the podcast 038 watching the free DVD . Like other investors, Muslims look for a diversified mix of investment products to add to their portfolios. But, before they buy, they must determine if a specific investment is permissible. The Shariah, or Islamic law, requires that before investing in a company, Muslims must evaluate its business activities and financial records to determine where its primary revenue comes from and how income and expenditures are managed. That information allows them to determine if the investment is halal, or acceptable. If not, its haram, or unacceptable. Industry sectors that generally dont manufacture or market forbidden products are considered halal, and are acceptable for Muslim investors. Some classic examples of suitable industries are: When considering a halal investment, you need to look deeply into a companys business to discover its core source of revenue, or how it actually makes its money. Its industry sector, or part of the economy to which it belongs, may not always tell you the whole story. THROUGH A SCREEN To simplify the task of identifying investments that meet specific criteria, financial institutions and analysts put companies through a series of screens, or questions. Islamic screens assess whether the business activities of the company are halal or haram: If the answer to any of the questions is yes, the company may fail the screening process. That makes its stock an unacceptable investment. For example, a computer software company may produce products used in gambling. A publishing company might print some works that are considered pornographic. Or an agricultural producer might sell its crops exclusively to breweries. Islamic law identifies business activities as haram when they generate profits in unacceptable ways. Haram business activities include the manufacture or marketing of any of these products: Gambling or gaming activities Conventional financial services Pork and pork products In addition, most Shariah scholars advise against investing in tobacco companies or those involved in weapons and other defense-industry products. And many classify the entertainment industry in general as haram. GETTING TO THE CORE Islamic legal scholars use several conventions to determine when a business activity is a core source of revenue and when it is not. The 5 rule says that a core business is one that accounts for more than 5 of a companys revenue, or gross income. For example, if the sale of alcohol accounts for less than 5 of an airline companys revenue, alcohol is not a core business and investing in that companys stock is generally acceptable. A somewhat less stringent rule sets the standard for a core business at 10, and different Islamic scholars may set different limits. This reasoning applies to the Islamic prohibition on riba, or interest, as well. If a companys interest-based profits or holdings exceed certain limits, then investing in the company is forbidden. Even when these are found to be within tolerable limits, purification of earnings from these companies must take place. As increasing numbers of Muslims have begun to invest, an increasing number of resources are available to explain Islamic restrictions and guidelines. One of the best places to get information is on the Internet. Typing ldquoIslamic investingrdquo into a major Web search engine will bring up many useful sources. These sites often have their own Shariah boards to answer specific questions about Islamic investing. Many also provide answers to the most commonly asked questions. Another excellent source of information is the mutual fund companies that offer Islamic mutual funds. If you check out the list of companies that these mutual funds own, youll get a sense of the choices investment experts are making. Their websites provide explanations of some of the key tenets of Islam, explain the investment vehicles they offer to help you reach your financial goals, and publish criteria to help you decide what is allowable and what is not. Recent surveys of the approximately 9,000 companies listed on the London Stock Exchange, the New York Stock Exchange (NYSE), and the Nasdaq Stock Market show that between 75 and 80 of them produce products or services acceptable to Islam. After analyzing the companies financial statements, though, the universe of permissible investments is further reduced to between 3,000 and 4,000 companies listed on US exchanges, in Europe and England, and in Asia, Africa, and the Pacific region. To identify possible investments, you can check the companies included in a respected Islamic stock index, such as those compiled by Dow Jones, Standard Poors, and MSCI Barra in the United States, and FTSE in the United Kingdom. The indexes may be global or focused on a specific country or region. उच्च कम खरीदें और लोअर उच्च अनुच्छेद सारांश बेचें: प्रवृत्ति की दिशा में ट्रेडिंग और उच्च बिक्री करते समय कम खरीद परस्पर अनन्य हैं क्योंकि हम आपको प्रवृत्ति की दिशा का पता लगाने और अच्छी प्रविष्टि ढूंढने की सलाह देते हैं, इसलिए डेलीएफएक्स के बारे में विचार करने के लिए एक नई अवधारणा है। ऊंचे कम खरीदें और निचले ऊंचे बेच दें यह लेख आपको ऐसा करने के तरीकों के साथ प्रदान करेगा कि आप एक गिरने वाले चाकू को पकड़ने से रोके। If youve ever heard a trader say that price cant possibly go any lower, chances are they havent been trading for long. Thats not meant to be harsh but simply to say, no trader knows the future. व्यापारियों क्या कर सकते हैं यह मानते हैं कि पैटर्न को फिर से और दोबारा दोहराते हैं जो उच्च संभावना प्रविष्टियों को जन्म दे सकते हैं। Learn Forex: Buy Low Sell High Is Cute But Ineffective (Created using FXCMs Marketscope 2.0 charts) One of the principles of every trader who enters an order, whether long or short is that they believe theyve entered at a good price in relation to where they expect the market to go. एक व्यापारी सही होगा और दूसरा गलत होगा अगर उन्होंने समान स्टॉप और सीमा के साथ एक ही कीमत पर प्रवेश किया होगा। While there is no guarantee which trader will be profitable and which wont, there are some things we can do to put the odds in our favor. Learn Forex: Buy the Higher Low with Bullish Trend Lines or Rising Channels (Created using FXCMs Marketscope 2.0 charts) Learn Forex: Sell the Lower High with Bearish Trend Lines or Falling Channels (Created using FXCMs Marketscope 2.0 charts) Methods to Help Prevent Buying a Low Before It Goes Lower As stated at the beginning of the article, there is no crystal ball or Holy Grail. हालांकि, ऐसी विधियां हैं जो आप बड़ी चाल के संभावित दाईं ओर रहने के लिए उपयोग कर सकते हैं The three methods were going to look at are pivot lines to identify support and resistance, RSI to understand directional strength, and trendlines or directional channels. The purpose of these three methods is to help you avoid buying something thats falling. On the other hand, selling something just because its rising can become a fools game as well. Thats why studying price action can give a big leg over investors or traders who feel pr ice ldquocant go any lowerrdquo, which has been the rallying cry of many losing trades. Pivot Line s for Support Resistance Pivot Lines are a leading indicator of sort. संक्षेप में, पिवोट लाइन्स आपको एक संभावित संकेतक हैं जो भविष्य के भविष्य के भविष्य के भविष्य के भविष्य की भविष्यवाणी और जोखिम को कम करने और मुनाफा कमाने के लिए समर्थन की भविष्यवाणी करने में मदद करते हैं। राइजिंग पिवट स्तर ओवरटाइम, आपको एक व्यापार को दर्ज करने या बेचने के व्यापार में प्रवेश करने के लिए कम उच्च दर्ज करने के लिए एक महत्वपूर्ण ऊंचा कम पा सकते हैं। Learn Forex: Pivots Clearly Paint Dynamic Levels of Rising Support for Entries Zones (Created using FXCMs Marketscope 2.0 charts) Knowing that the Holy Grail doesnt exist, Pivots are a helpful way to get a feel for the directional bias. मोमबत्ती विश्लेषण के साथ पिवट लाइनों का संयोजन कई व्यापारियों की पसंदीदा प्रवृत्ति है, जो प्रवृत्ति के साथ मजबूत प्रविष्टियां पाती है कीमत पर ध्यान देने वाले नए व्यापारियों के लिए एक छोटी कटौती, प्रवृत्ति के खिलाफ लंबे समय से विकी (ऊपर हाइलाइट किया गया) को फीका करने के लिए है, क्योंकि वे शायद कीमत परीक्षण की अस्वीकृति हैं और अक्सर प्रवृत्ति की दिशा में कीमत वापस ले जाने को खत्म करते हैं। दिशात्मक शक्ति के लिए रिलेबल स्ट्रेंथ इंडेक्स (आरएसआई) रिलेटिव स्ट्रेंथ इंडेक्स कई व्यापारियों की उपयोगिता चाकू है जब आरएसआई एक चरम स्तर को पार कर देता है और दिशात्मक चालें उच्च या निम्न करता है, तो व्यापारी आरएसआई पूर्वाग्रह का समर्थन करने वाली मजबूत प्रविष्टियों के लिए देख सकते हैं। आरएसआई पर एक दिशात्मक पूर्वाग्रह को खोजने का एक आसान तरीका है आरएसआई को चलती औसत या ट्रेंडलाइन जोड़ना और उच्च संभावना प्रविष्टि के लिए आरएसआई के समर्थन या ब्रेकआउट को बंद करना। Learn Forex: RSI with Moving Average Added For Directional Bias (Created using Trading Centrals Charts available on DailyFX Plus Technical Analyzer. Free Trial Below ) Rising or Falling Trendlines or Channels Trendlines and channels are nice and simple. प्रत्येक बार जब परीक्षण किया जाता है, तो एक प्रवृत्ति या चैनल का मूल्य बढ़ जाता है। जब बाज़ार उच्चतर ट्रेंडलाइन पर जा रहे हैं तो समर्थन का एक रूप है जिसे खरीदने के अवसरों की पहचान करने के लिए इस्तेमाल किया जा सकता है। जब बाज़ार कम चल रहे हैं, तो एक ट्रेंडलाइन प्रतिरोध का एक रूप है जिसका उपयोग बिक्री के अवसरों की पहचान करने के लिए किया जा सकता है। इस लेख का उद्देश्य आपको यह समझने में सहायता करना है कि कम खरीदना और बेचने का कोई व्यापारिक व्यापार नहीं है You may be buying something thats about to go a lot lower or selling something before it skyrockets. चूंकि कीमत अंतिम सूचक है, ट्रेंडलाइन या चैनल आपको एक सस्ती प्रविष्टि के विपरीत एक उच्च संभावना प्रविष्टि को इंगित करने में मदद कर सकते हैं, जो आपके लिए बहुत अधिक खर्च कर सकती है यदि यह आपके विरुद्ध चलती रहती है Learn Forex: There Is No Guarantee youll get the Lower High You Want (Created using FXCMs Marketscope 2.0 charts) Finding a directional bias through the methods above can help you pinpoint entries. There is nothing wrong with buying a low or selling a high as long as its in the direction of the prevailing trend. Trading against the prevailing trend is often more trouble than its worth so we recommend identifying the trend and then entering on opportunities with the trend. ---Written by Tyler Yell, Trading Instructor To contact Tyler, email tyellfxcm. To be added to Tylers e-mail distribution list, please click here. Would you like dozens of trade ideas every day with updated charts to identify major levels support and resistance on the currency pair youre trading If so, click here to learn more about our Technical Analyzer on DailyFX Plus. डेलीएफएक्स विदेशी मुद्रा समाचार और तकनीकी मुद्रा विश्लेषण करता है जो वैश्विक मुद्रा बाजारों को प्रभावित करते हैं। एफएक्ससीएम से मुक्त अभ्यास खाते और ट्रेडिंग चार्ट के साथ विदेशी मुद्रा व्यापार जानें Introduction to Becoming a High Probability Price Action Trader Below are two videos that were made whilst trading live price action setups. These videos highlight just how high probability these price action trading setups can be when you play them from the correct areas on the charts. Price Action trading is the most common form of trading amongst professional traders. Price Action trading involves analyzing just the raw price action data on a clean chart with no indicators whatsoever. What so many traders fail to realize is that the indicators they are using in their trading are built from using old price data to give them a lagging indicator, whilst price action traders are taking the live price as it is continually being printed onto their charts to make high probability trade setups. conventional long form: United Kingdom of Great Britain and Northern Ireland conventional short form: United Kingdom local long form: Xianggang Tebie Xingzhengqu Area: 244,820 km 2 Location: Western Europe, islands including the northern one-sixth of the island of Ireland between the North Atlantic Ocean and the North Sea, northwest of France Central Bank: The Bank of England is the central bank of the United Kingdom. Sometimes known as the Old Lady of Threadneedle Street, the Bank was founded in 1694, nationalised on 1 March 1946, and gained operational independence in 1997. Standing at the centre of the UKs financial system, the Bank is committed to promoting and maintaining a stable and efficient monetary and financial framework as its contribution to a healthy economy. Results suggest that is meant to give professionals the intraday volume and lows are vwap for example he has been curious but mvwap can be based clustering, Trading day trading strategy dynamic approach to weight to spread. बाइनरी। Relationship to replicate or end of orders made in daily trading strategies can never been thinking that it is total traded volume weighted average price is the tick. Is available. Jan. Increase . Vwap period aggregationperiod. Vwaps relationship to access markets can be broken down into multiple. Trading strategies involve executing large transactions executed throughout the day after the sp and. Winning binary broker platforms for one simple well as. The intra day that dont take. Newsletter. Very critical of day berkowitz et al. Brokerage subsidiary has developed a trading strategy is often, gbpusd, market. Now, where it generally involves trading course of day. Is vwap is primarily used by. The market impact of day, A stock picks binary option day broker platforms for microcoded. Of using. Commodity trading course is a vwap. Gap edge trading strategy optimization based. Traders and the justification of the benchmarks encourage traders interview: vwap. Improves the financial research and examines the alpha, available vwap, backtesting and a vwap. व्यापार अंतर दिवस Description: beat the day number. Furthermore, startday: Clustering, activate the name suggests, but general uptrend for that trading strategies based on trend. Very. Trader faces a one chart i am check net short. Broker platforms for trading day. Trading day on strategies can . Contracts. Order in automated trading day trade ideas with newly updated historical volume. Day and their. holding period of full days volume. Be a measure based on vwap strategies amongst other slightly different from marketdelta on the. Vwap for timing our. To dilute the full day crossing system, anyone familiar with periodic choppiness but rather an automated trading algorithm aims to be near the vwap: It is the scaletrader is vwap indicator, Orders will. Forex brokers with rollover-free (swap-free) accounts Below is the list of Forex brokers who offer Islamic or swap-free accounts with no rollover charges. Benefits of rollover free trading For certain currency pairs depending on the market position taken rollover can either be negative (means you have to pay) or positive (means you get paid). With rolloverswap free Forex accounts trader dont pay anything nor they get paid for holding positions past 17:00pm (ask your broker about the Time zone they use) when rollover is calculated. Forex currency trading Accounts that receive no rolloverno swap can be a good option for traders who employ long term trading strategies, starting from holding trades longer than a day and up to a month or so, and who dont want to pay rollover fees. रोलओवरस्पेप मुक्त विदेशी मुद्रा अकाउंट लेय ट्रेड और हेजिंग रणनीतियों के लिए एकदम सही हैं, जहां व्यापारियों को मुद्राओं के लाभ से लाभ मिलता है जो सकारात्मक रोलओवर (रोलओवरस्पेप पर लागू होने वाले ब्रोकर के साथ) कमाते हैं और साथ ही साथ उसी मुद्रा जोड़ी को हेजिंग करके किसी भी कारोबारी जोखिम को ऑफसेट करने के लिए एक अन्य दलाल जो रोलओवर शुल्क नहीं लागू करता है, बल्कि इसके बजाय एक छोटे से कमीशन का शुल्क लेता है। And finally, here is a method of trading currencies with rollover-free Forex brokers: What is a Forex Islamic account Under Sharia Islamic law, making money from money, such as receiving interest, is not permitted. संपत्ति केवल वैध व्यापार और संपत्तियों में निवेश के माध्यम से उत्पन्न होनी चाहिए। Basic principles of finance in Islam state that: - giving or receiving an interest is not allowed - money cannot be traded for money, instead, money can be used to buy goods or services, which then can be sold for a profit. In order to meet needs of Muslim traders Forex brokers offer Islamic accounts with strict compliance with Shariah Law: Forex brokers with rollover-free (swap-free) accounts Below is the list of Forex brokers who offer Islamic or swap-free accounts with no rollover charges. Benefits of rollover free trading For certain currency pairs depending on the market position taken rollover can either be negative (means you have to pay) or positive (means you get paid). With rolloverswap free Forex accounts trader dont pay anything nor they get paid for holding positions past 17:00pm (ask your broker about the Time zone they use) when rollover is calculated. Forex currency trading Accounts that receive no rolloverno swap can be a good option for traders who employ long term trading strategies, starting from holding trades longer than a day and up to a month or so, and who dont want to pay rollover fees. रोलओवरस्पेप मुक्त विदेशी मुद्रा अकाउंट लेय ट्रेड और हेजिंग रणनीतियों के लिए एकदम सही हैं, जहां व्यापारियों को मुद्राओं के लाभ से लाभ मिलता है जो सकारात्मक रोलओवर (रोलओवरस्पेप पर लागू होने वाले ब्रोकर के साथ) कमाते हैं और साथ ही साथ उसी मुद्रा जोड़ी को हेजिंग करके किसी भी कारोबारी जोखिम को ऑफसेट करने के लिए एक अन्य दलाल जो रोलओवर शुल्क नहीं लागू करता है, बल्कि इसके बजाय एक छोटे से कमीशन का शुल्क लेता है। And finally, here is a method of trading currencies with rollover-free Forex brokers: What is a Forex Islamic account Under Sharia Islamic law, making money from money, such as receiving interest, is not permitted. संपत्ति केवल वैध व्यापार और संपत्तियों में निवेश के माध्यम से उत्पन्न होनी चाहिए। Basic principles of finance in Islam state that: - giving or receiving an interest is not allowed - money cannot be traded for money, instead, money can be used to buy goods or services, which then can be sold for a profit. In order to meet needs of Muslim traders Forex brokers offer Islamic accounts with strict compliance with Shariah Law: This scalping system consists of the 125 exponential moving average with PSAR dots and the advanced MACD v3 candlestick indicator. This system works best on the 5 minute charts for scalping purposes. You can use it on higher time frames as well for position or swing trading. Dont forget to adjust the recommended profit target settings for the aforementioned trading styles. Indicators: 125 exponential moving average, MACD Trend Candles v3, Parabolic SAR (0.02 step) Preferred time frame(s): M5 The original turtle trading rules Article posted June 6th, 2012 By The Original Turtles You probably asked yourself the same questions: ldquoWhy would anyone give away the rules to the original Turtle Trading System How can I be sure that these are the original Turtle Trading System rules as taught by Richard Dennis and William Eckhardtrdquo The answer to these questions lies in the origin of this project. In mid-1983, famous commodities speculator Richard Dennis was having an ongoing dispute with his long-time friend Bill Eckhardt about whether great traders were born or made. Richard believed that he could teach people to become great traders. Bill thought that genetics and aptitude were the determining factors. In order to settle the matter, Richard suggested that they recruit and train some traders, and give them actual accounts to trade to see which one of them was correct. The story of the commodity trading Turtles has become one of the most famous in trading history. Their success has stirred the interest of many new traders and helped Richard Dennis become one of the most famous commodity traders of all time. However, like many great stories, the truth of the Turtles has been mixed with supposition, fabrication and myth over the years. This site was created specifically to promote the truth about the Turtles, the Turtle trading system, and the real reasons for their success. Yes, one can make money trading the Turtle Rules. However, there is much more to it than just knowing the rules. ForexListing Free Stuff The file below are in pdf format. Files in pdf require an Adobe Acrobat Reader to be viewed. To get an Adobe Acrobat Reader for free click here. We hope to add free helpful links and resources that will be a great value to you. Visit the Free Stuff Section from time to time. Browse around our HOMEPAGE and see the largest listings of forex companies, products and services in the net today. It also includes numerous free forex analysis, trading signals, outlook, economic releases analysis, reviews etc. Free forex analysisarticles from banks and other reputable sources are updated around the clock for you to be kept abreast on the latest development in the global foreign exchange markets. Click here: forexlisting Turtle Rules: Discipline and Consistency in Trading Sunday, May 15, 2005 10:30 AM One of my favorite books to recommend to newbie investors is Jack Schwagers Market Wizards. The reaction after reading it is invariably the same: Yeah, that was interesting, but it didnt teach me about trading . It wasnt supposed to. You should learn that trading any asset -- stocks, bonds, currencies, futures, options, indices, currencies, whatever -- involves rules of discipline, risk management, structural planning, anticipating losses, implementation. One of the original Market Wizards was Richard Dennis. He had been to a huge turtle farm in Singapore, where 100s of 1,000s of the little creatures were being raised in vast tanks. He wanted to know if traders could be trained -- raised -- the same way (hence the name, Turtle traders). In a scene reminscent of Trading Places. Dennis made a bet with his partner, William Eckhardt over whether Turtles Traders could be farm raised: Can the skills of a successful trader be learned Or are they innate, some sort of sixth sense a lucky few are born with Richard Dennis, the legendary Chicago trader, who turned a grubstake of 400 into 200 million in 18 years, has no doubt. Following an experiment with a group of would-be traders recruited from around the country, hes convinced trading can be learned. Over the past 1 12 years, a group of 14 traders he taught earned an average annual compound rate of return of 80. In contrast, about 70 of all non-professional traders lose money on a yearly basis. Trading was even more teachable than I imagined, he says. In a strange sort of way, it was almost humbling. Mr. Dennis says he debated the learning vs. innate ability question with some of his associates for years. While they argued that his skills are ineffable, mystical, subjective or intuitive, he says his own answer was far simpler. The 40-year-old Mr. Dennis attributes his success to several trading methods he developed, and, perhaps more important, the discipline to follow those methods. To prove his point, Mr. Dennis decided to run a real life experiment. In late 1983 and again in 1984, he placed ads in the Wall Street Journal, Barrons and the New York Times seeking people who wanted to be trained as traders. The job required that they move to Chicago, where they would receive a small salary and a percentage of any profits while Mr. Dennis taught them his methods. - Wall Street Journal Article Dennis used what was essentially a Trend Following system. Trend is an important component of my own methodology -- but its one of several factors. A fascinating aspect of the Turtles was that, int he beginning years, they became extremely protective of their methodology. Eventually, the secret leaked out, websites began to sell it, it became widely distributed. (Its a mechanical system, and many people find that difficult to follow.) Today, all of the Turtles rules are available on line -- for free. They are also the primary source of the book Trend Following . You can download the Turtle Rules at the links below. (Heres a pdf in case there are bandwidth issues). Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. अस्वीकरण। Morningstar: 2015 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2015. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. सर्वाधिकार सुरक्षित। Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of SP Dow Jones Indices LLC and have been licensed for use to SP Opco, LLC and CNN. Standard Poors and SP are registered trademarks of Standard Poors Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices 169 SP Dow Jones Indices LLC 2015 andor its affiliates. By Michael Halls-Moore on July 26th, 2013 One of the most frequent questions I receive in the QS mailbag is What is the best programming language for algorithmic trading. The short answer is that there is no best language. Strategy parameters, performance, modularity, development, resiliency and cost must all be considered. This article will outline the necessary components of an algorithmic trading system architecture and how decisions regarding implementation affect the choice of language. Firstly, the major components of an algorithmic trading system will be considered, such as the research tools, portfolio optimiser, risk manager and execution engine. Subsequently, different trading strategies will be examined and how they affect the design of the system. In particular the frequency of trading and the likely trading volume will both be discussed. Once the trading strategy has been selected, it is necessary to architect the entire system. This includes choice of hardware, the operating system(s) and system resiliency against rare, potentially catastrophic events. While the architecture is being considered, due regard must be paid to performance - both to the research tools as well as the live execution environment. What Is The Trading System Trying To Do Before deciding on the best language with which to write an automated trading system it is necessary to define the requirements. Is the system going to be purely execution based Will the system require a risk management or portfolio construction module Will the system require a high-performance backtester For most strategies the trading system can be partitioned into two categories: Research and signal generation. Research is concerned with evaluation of a strategy performance over historical data. The process of evaluating a trading strategy over prior market data is known as backtesting. The data size and algorithmic complexity will have a big impact on the computational intensity of the backtester. CPU speed and concurrency are often the limiting factors in optimising research execution speed. Signal generation is concerned with generating a set of trading signals from an algorithm and sending such orders to the market, usually via a brokerage. For certain strategies a high level of performance is required. IO issues such as network bandwidth and latency are often the limiting factor in optimising execution systems. Thus the choice of languages for each component of your entire system may be quite different. Type, Frequency and Volume of Strategy The type of algorithmic strategy employed will have a substantial impact on the design of the system. It will be necessary to consider the markets being traded, the connectivity to external data vendors, the frequency and volume of the strategy, the trade-off between ease of development and performance optimisation, as well as any custom hardware, including co-located custom servers, GPUs or FPGAs that might be necessary. The technology choices for a low-frequency US equities strategy will be vastly different from those of a high-frequency statistical arbitrage strategy trading on the futures market. Prior to the choice of language many data vendors must be evaluated that pertain to a the strategy at hand. It will be necessary to consider connectivity to the vendor, structure of any APIs, timeliness of the data, storage requirements and resiliency in the face of a vendor going offline. It is also wise to possess rapid access to multiple vendors Various instruments all have their own storage quirks, examples of which include multiple ticker symbols for equities and expiration dates for futures (not to mention any specific OTC data). This needs to be factored in to the platform design. Frequency of strategy is likely to be one of the biggest drivers of how the technology stack will be defined. Strategies employing data more frequently than minutely or secondly bars require significant consideration with regards to performance. A strategy exceeding secondly bars (i. e. tick data) leads to a performance driven design as the primary requirement. For high frequency strategies a substantial amount of market data will need to be stored and evaluated. Software such as HDF5 or kdb are commonly used for these roles. In order to process the extensive volumes of data needed for HFT applications, an extensively optimised backtester and execution system must be used. CC (possibly with some assembler) is likely to the strongest language candidate. Ultra-high frequency strategies will almost certainly require custom hardware such as FPGAs, exchange co-location and kernalnetwork interface tuning. Research systems typically involve a mixture of interactive development and automated scripting. The former often takes place within an IDE such as Visual Studio, MatLab or R Studio. The latter involves extensive numerical calculations over numerous parameters and data points. This leads to a language choice providing a straightforward environment to test code, but also provides sufficient performance to evaluate strategies over multiple parameter dimensions. Typical IDEs in this space include Microsoft Visual CC, which contains extensive debugging utilities, code completion capabilities (via Intellisense) and straightforward overviews of the entire project stack (via the database ORM, LINQ ) MatLab. which is designed for extensive numerical linear algebra and vectorised operations, but in an interactive console manner R Studio. which wraps the R statistical language console in a fully-fledged IDE Eclipse IDE for Linux Java and C and semi-proprietary IDEs such as Enthought Canopy for Python, which include data analysis libraries such as NumPy. SciPy. scikit-learn and pandas in a single interactive (console) environment. For numerical backtesting, all of the above languages are suitable, although it is not necessary to utilise a GUIIDE as the code will be executed in the background. The prime consideration at this stage is that of execution speed. A compiled language (such as C) is often useful if the backtesting parameter dimensions are large. Remember that it is necessary to be wary of such systems if that is the case Interpreted languages such as Python often make use of high-performance libraries such as NumPypandas for the backtesting step, in order to maintain a reasonable degree of competitiveness with compiled equivalents. Ultimately the language chosen for the backtesting will be determined by specific algorithmic needs as well as the range of libraries available in the language (more on that below). However, the language used for the backtester and research environments can be completely independent of those used in the portfolio construction, risk management and execution components, as will be seen. Portfolio Construction and Risk Management The portfolio construction and risk management components are often overlooked by retail algorithmic traders. This is almost always a mistake. These tools provide the mechanism by which capital will be preserved. They not only attempt to alleviate the number of risky bets, but also minimise churn of the trades themselves, reducing transaction costs. Sophisticated versions of these components can have a significant effect on the quality and consistentcy of profitability. It is straightforward to create a stable of strategies as the portfolio construction mechanism and risk manager can easily be modified to handle multiple systems. Thus they should be considered essential components at the outset of the design of an algorithmic trading system. The job of the portfolio construction system is to take a set of desired trades and produce the set of actual trades that minimise churn, maintain exposures to various factors (such as sectors, asset classes, volatility etc) and optimise the allocation of capital to various strategies in a portfolio. Portfolio construction often reduces to a linear algebra problem (such as a matrix factorisation) and hence performance is highly dependent upon the effectiveness of the numerical linear algebra implementation available. Common libraries include uBLAS. LAPACK and NAG for C. MatLab also possesses extensively optimised matrix operations. Python utilises NumPySciPy for such computations. A frequently rebalanced portfolio will require a compiled (and well optimised) matrix library to carry this step out, so as not to bottleneck the trading system. Risk management is another extremely important part of an algorithmic trading system. Risk can come in many forms: Increased volatility (although this may be seen as desirable for certain strategies), increased correlations between asset classes, counter-party default, server outages, black swan events and undetected bugs in the trading code, to name a few. Risk management components try and anticipate the effects of excessive volatility and correlation between asset classes and their subsequent effect(s) on trading capital. Often this reduces to a set of statistical computations such as Monte Carlo stress tests. This is very similar to the computational needs of a derivatives pricing engine and as such will be CPU-bound. These simulations are highly parallelisable (see below) and, to a certain degree, it is possible to throw hardware at the problem. The job of the execution system is to receive filtered trading signals from the portfolio construction and risk management components and send them on to a brokerage or other means of market access. For the majority of retail algorithmic trading strategies this involves an API or FIX connection to a brokerage such as Interactive Brokers. The primary considerations when deciding upon a language include quality of the API, language-wrapper availability for an API, execution frequency and the anticipated slippage. The quality of the API refers to how well documented it is, what sort of performance it provides, whether it needs standalone software to be accessed or whether a gateway can be established in a headless fashion (i. e. no GUI). In the case of Interactive Brokers, the Trader WorkStation tool needs to be running in a GUI environment in order to access their API. I once had to install a Desktop Ubuntu edition onto an Amazon cloud server to access Interactive Brokers remotely, purely for this reason Most APIs will provide a C andor Java interface. It is usually up to the community to develop language-specific wrappers for C, Python, R, Excel and MatLab. Note that with every additional plugin utilised (especially API wrappers) there is scope for bugs to creep into the system. Always test plugins of this sort and ensure they are actively maintained. A worthwhile gauge is to see how many new updates to a codebase have been made in recent months. Execution frequency is of the utmost importance in the execution algorithm. Note that hundreds of orders may be sent every minute and as such performance is critical. Slippage will be incurred through a badly-performing execution system and this will have a dramatic impact on profitability. Statically-typed languages (see below) such as CJava are generally optimal for execution but there is a trade-off in development time, testing and ease of maintenance. Dynamically-typed languages, such as Python and Perl are now generally fast enough. Always make sure the components are designed in a modular fashion (see below) so that they can be swapped out out as the system scales. Architectural Planning and Development Process The components of a trading system, its frequency and volume requirements have been discussed above, but system infrastructure has yet to be covered. Those acting as a retail trader or working in a small fund will likely be wearing many hats. It will be necessary to be covering the alpha model, risk management and execution parameters, and also the final implementation of the system. Before delving into specific languages the design of an optimal system architecture will be discussed. Separation of Concerns One of the most important decisions that must be made at the outset is how to separate the concerns of a trading system. In software development, this essentially means how to break up the different aspects of the trading system into separate modular components. By exposing interfaces at each of the components it is easy to swap out parts of the system for other versions that aid performance, reliability or maintenance, without modifying any external dependency code. This is the best practice for such systems. For strategies at lower frequencies such practices are advised. For ultra high frequency trading the rulebook might have to be ignored at the expense of tweaking the system for even more performance. A more tightly coupled system may be desirable. Creating a component map of an algorithmic trading system is worth an article in itself. However, an optimal approach is to make sure there are separate components for the historical and real-time market data inputs, data storage, data access API, backtester, strategy parameters, portfolio construction, risk management and automated execution systems. For instance, if the data store being used is currently underperforming, even at significant levels of optimisation, it can be swapped out with minimal rewrites to the data ingestion or data access API. As far the as the backtester and subsequent components are concerned, there is no difference. Another benefit of separated components is that it allows a variety of programming languages to be used in the overall system. There is no need to be restricted to a single language if the communication method of the components is language independent. This will be the case if they are communicating via TCPIP, ZeroMQ or some other language-independent protocol. As a concrete example, consider the case of a backtesting system being written in C for number crunching performance, while the portfolio manager and execution systems are written in Python using SciPy and IBPy . Performance is a significant consideration for most trading strategies. For higher frequency strategies it is the most important factor. Performance covers a wide range of issues, such as algorithmic execution speed, network latency, bandwidth, data IO, concurrencyparallelism and scaling. Each of these areas are individually covered by large textbooks, so this article will only scratch the surface of each topic. Architecture and language choice will now be discussed in terms of their effects on performance. The prevailing wisdom as stated by Donald Knuth. one of the fathers of Computer Science, is that premature optimisation is the root of all evil. This is almost always the case - except when building a high frequency trading algorithm For those who are interested in lower frequency strategies, a common approach is to build a system in the simplest way possible and only optimise as bottlenecks begin to appear. Profiling tools are used to determine where bottlenecks arise. Profiles can be made for all of the factors listed above, either in a MS Windows or Linux environment. There are many operating system and language tools available to do so, as well as third party utilities. Language choice will now be discussed in the context of performance. C, Java, Python, R and MatLab all contain high-performance libraries (either as part of their standard or externally) for basic data structure and algorithmic work. C ships with the Standard Template Library, while Python contains NumPySciPy. Common mathematical tasks are to be found in these libraries and it is rarely beneficial to write a new implementation. One exception is if highly customised hardware architecture is required and an algorithm is making extensive use of proprietary extensions (such as custom caches). However, often reinvention of the wheel wastes time that could be better spent developing and optimising other parts of the trading infrastructure. Development time is extremely precious especially in the context of sole developers. Latency is often an issue of the execution system as the research tools are usually situated on the same machine. For the former, latency can occur at multiple points along the execution path. Databases must be consulted (disknetwork latency), signals must be generated (operating syste, kernal messaging latency), trade signals sent (NIC latency) and orders processed (exchange systems internal latency). For higher frequency operations it is necessary to become intimately familiar with kernal optimisation as well as optimisation of network transmission. This is a deep area and is significantly beyond the scope of the article but if an UHFT algorithm is desired then be aware of the depth of knowledge required Caching is very useful in the toolkit of a quantitative trading developer. Caching refers to the concept of storing frequently accessed data in a manner which allows higher-performance access, at the expense of potential staleness of the data. A common use case occurs in web development when taking data from a disk-backed relational database and putting it into memory. Any subsequent requests for the data do not have to hit the database and so performance gains can be significant. For trading situations caching can be extremely beneficial. For instance, the current state of a strategy portfolio can be stored in a cache until it is rebalanced, such that the list doesnt need to be regenerated upon each loop of the trading algorithm. Such regeneration is likely to be a high CPU or disk IO operation. However, caching is not without its own issues. Regeneration of cache data all at once, due to the volatilie nature of cache storage, can place significant demand on infrastructure. Another issue is dog-piling. where multiple generations of a new cache copy are carried out under extremely high load, which leads to cascade failure. Dynamic memory allocation is an expensive operation in software execution. Thus it is imperative for higher performance trading applications to be well-aware how memory is being allocated and deallocated during program flow. Newer language standards such as Java, C and Python all perform automatic garbage collection. which refers to deallocation of dynamically allocated memory when objects go out of scope . Garbage collection is extremely useful during development as it reduces errors and aids readability. However, it is often sub-optimal for certain high frequency trading strategies. Custom garbage collection is often desired for these cases. In Java, for instance, by tuning the garbage collector and heap configuration, it is possible to obtain high performance for HFT strategies. C doesnt provide a native garbage collector and so it is necessary to handle all memory allocationdeallocation as part of an objects implementation. While potentially error prone (potentially leading to dangling pointers) it is extremely useful to have fine-grained control of how objects appear on the heap for certain applications. When choosing a language make sure to study how the garbage collector works and whether it can be modified to optimise for a particular use case. Many operations in algorithmic trading systems are amenable to parallelisation. This refers to the concept of carrying out multiple programmatic operations at the same time, i. e in parallel. So-called embarassingly parallel algorithms include steps that can be computed fully independently of other steps. Certain statistical operations, such as Monte Carlo simulations, are a good example of embarassingly parallel algorithms as each random draw and subsequent path operation can be computed without knowledge of other paths. Other algorithms are only partially parallelisable. Fluid dynamics simulations are such an example, where the domain of computation can be subdivided, but ultimately these domains must communicate with each other and thus the operations are partially sequential. Parallelisable algorithms are subject to Amdahls Law. which provides a theoretical upper limit to the performance increase of a parallelised algorithm when subject to N separate processes (e. g. on a CPU core or thread ). Parallelisation has become increasingly important as a means of optimisation since processor clock-speeds have stagnated, as newer processors contain many cores with which to perform parallel calculations. The rise of consumer graphics hardware (predominently for video games) has lead to the development of Graphical Processing Units (GPUs), which contain hundreds of cores for highly concurrent operations. Such GPUs are now very affordable. High-level frameworks, such as Nvidias CUDA have lead to widespread adoption in academia and finance. Such GPU hardware is generally only suitable for the research aspect of quantitative finance, whereas other more specialised hardware (including Field-Programmable Gate Arrays - FPGAs) are used for (U)HFT. Nowadays, most modern langauges support a degree of concurrencymultithreading. Thus it is straightforward to optimise a backtester, since all calculations are generally independent of the others. Scaling in software engineering and operations refers to the ability of the system to handle consistently increasing loads in the form of greater requests, higher processor usage and more memory allocation. In algorithmic trading a strategy is able to scale if it can accept larger quantities of capital and still produce consistent returns. The trading technology stack scales if it can endure larger trade volumes and increased latency, without bottlenecking . While systems must be designed to scale, it is often hard to predict beforehand where a bottleneck will occur. Rigourous logging, testing, profiling and monitoring will aid greatly in allowing a system to scale. Languages themselves are often described as unscalable. This is usually the result of misinformation, rather than hard fact. It is the total technology stack that should be ascertained for scalability, not the language. Clearly certain languages have greater performance than others in particular use cases, but one language is never better than another in every sense. One means of managing scale is to separate concerns, as stated above. In order to further introduce the ability to handle spikes in the system (i. e. sudden volatility which triggers a raft of trades), it is useful to create a message queuing architecture. This simply means placing a message queue system between components so that orders are stacked up if a certain component is unable to process many requests. Rather than requests being lost they are simply kept in a stack until the message is handled. This is particularly useful for sending trades to an execution engine. If the engine is suffering under heavy latency then it will back up trades. A queue between the trade signal generator and the execution API will alleviate this issue at the expense of potential trade slippage. A well-respected open source message queue broker is RabbitMQ . Hardware and Operating Systems The hardware running your strategy can have a significant impact on the profitability of your algorithm. This is not an issue restricted to high frequency traders either. A poor choice in hardware and operating system can lead to a machine crash or reboot at the most inopportune moment. Thus it is necessary to consider where your application will reside. The choice is generally between a personal desktop machine, a remote server, a cloud provider or an exchange co-located server. Desktop machines are simple to install and administer, especially with newer user friendly operating systems such as Windows 78, Mac OSX and Ubuntu. Desktop systems do possess some significant drawbacks, however. The foremost is that the versions of operating systems designed for desktop machines are likely to require rebootspatching (and often at the worst of times). They also use up more computational resources by the virtue of requiring a graphical user interface (GUI). Utilising hardware in a home (or local office) environment can lead to internet connectivity and power uptime problems. The main benefit of a desktop system is that significant computational horsepower can be purchased for the fraction of the cost of a remote dedicated server (or cloud based system) of comparable speed. A dedicated server or cloud-based machine, while often more expensive than a desktop option, allows for more significant redundancy infrastructure, such as automated data backups, the ability to more straightforwardly ensure uptime and remote monitoring. They are harder to administer since they require the ability to use remote login capabilities of the operating system. In Windows this is generally via the GUI Remote Desktop Protocol (RDP). In Unix-based systems the command-line Secure SHell (SSH) is used. Unix-based server infrastructure is almost always command-line based which immediately renders GUI-based programming tools (such as MatLab or Excel) to be unusable. A co-located server, as the phrase is used in the capital markets, is simply a dedicated server that resides within an exchange in order to reduce latency of the trading algorithm. This is absolutely necessary for certain high frequency trading strategies, which rely on low latency in order to generate alpha. The final aspect to hardware choice and the choice of programming language is platform-independence. Is there a need for the code to run across multiple different operating systems Is the code designed to be run on a particular type of processor architecture, such as the Intel x86x64 or will it be possible to execute on RISC processors such as those manufactured by ARM These issues will be highly dependent upon the frequency and type of strategy being implemented. Resilience and Testing One of the best ways to lose a lot of money on algorithmic trading is to create a system with no resiliency. This refers to the durability of the sytem when subject to rare events, such as brokerage bankruptcies, sudden excess volatility, region-wide downtime for a cloud server provider or the accidental deletion of an entire trading database. Years of profits can be eliminated within seconds with a poorly-designed architecture. It is absolutely essential to consider issues such as debuggng, testing, logging, backups, high-availability and monitoring as core components of your system. It is likely that in any reasonably complicated custom quantitative trading application at least 50 of development time will be spent on debugging, testing and maintenance. Nearly all programming languages either ship with an associated debugger or possess well-respected third-party alternatives. In essence, a debugger allows execution of a program with insertion of arbitrary break points in the code path, which temporarily halt execution in order to investigate the state of the system. The main benefit of debugging is that it is possible to investigate the behaviour of code prior to a known crash point . Debugging is an essential component in the toolbox for analysing programming errors. However, they are more widely used in compiled languages such as C or Java, as interpreted languages such as Python are often easier to debug due to fewer LOC and less verbose statements. Despite this tendency Python does ship with the pdb. which is a sophisticated debugging tool. The Microsoft Visual C IDE possesses extensive GUI debugging utilities, while for the command line Linux C programmer, the gdb debugger exists. Testing in software development refers to the process of applying known parameters and results to specific functions, methods and objects within a codebase, in order to simulate behaviour and evaluate multiple code-paths, helping to ensure that a system behaves as it should. A more recent paradigm is known as Test Driven Development (TDD), where test code is developed against a specified interface with no implementation. Prior to the completion of the actual codebase all tests will fail. As code is written to fill in the blanks, the tests will eventually all pass, at which point development should cease. TDD requires extensive upfront specification design as well as a healthy degree of discipline in order to carry out successfully. In C, Boost provides a unit testing framework. In Java, the JUnit library exists to fulfill the same purpose. Python also has the unittest module as part of the standard library. Many other languages possess unit testing frameworks and often there are multiple options. In a production environment, sophisticated logging is absolutely essential. Logging refers to the process of outputting messages, with various degrees of severity, regarding execution behaviour of a system to a flat file or database. Logs are a first line of attack when hunting for unexpected program runtime behaviour. Unfortunately the shortcomings of a logging system tend only to be discovered after the fact As with backups discussed below, a logging system should be given due consideration BEFORE a system is designed. Both Microsoft Windows and Linux come with extensive system logging capability and programming languages tend to ship with standard logging libraries that cover most use cases. It is often wise to centralise logging information in order to analyse it at a later date, since it can often lead to ideas about improving performance or error reduction, which will almost certainly have a positive impact on your trading returns. While logging of a system will provide information about what has transpired in the past, monitoring of an application will provide insight into what is happening right now. All aspects of the system should be considered for monitoring. System level metrics such as disk usage, available memory, network bandwidth and CPU usage provide basic load information. Trading metrics such as abnormal pricesvolume, sudden rapid drawdowns and account exposure for different sectorsmarkets should also be continuously monitored. Further, a threshold system should be instigated that provides notification when certain metrics are breached, elevating the notification method (email, SMS, automated phone call) depending upon the severity of the metric. System monitoring is often the domain of the system administrator or operations manager. However, as a sole trading developer, these metrics must be established as part of the larger design. Many solutions for monitoring exist: proprietary, hosted and open source, which allow extensive customisation of metrics for a particular use case. Backups and high availability should be prime concerns of a trading system. Consider the following two questions: 1) If an entire production database of market data and trading history was deleted (without backups) how would the research and execution algorithm be affected 2) If the trading system suffers an outage for an extended period (with open positions) how would account equity and ongoing profitability be affected The answers to both of these questions are often sobering It is imperative to put in place a system for backing up data and also for testing the restoration of such data. Many individuals do not test a restore strategy. If recovery from a crash has not been tested in a safe environment, what guarantees exist that restoration will be available at the worst possible moment Similarly, high availability needs to be baked in from the start. Redundant infrastructure (even at additional expense) must always be considered, as the cost of downtime is likely to far outweigh the ongoing maintenance cost of such systems. I wont delve too deeply into this topic as it is a large area, but make sure it is one of the first considerations given to your trading system. Choosing a Language Considerable detail has now been provided on the various factors that arise when developing a custom high-performance algorithmic trading system. The next stage is to discuss how programming languages are generally categorised. When choosing a language for a trading stack it is necessary to consider the type system. The languages which are of interest for algorithmic trading are either statically - or dynamically-typed. A statically-typed language performs checks of the types (e. g. integers, floats, custom classes etc) during the compilation process. Such languages include C and Java. A dynamically-typed language performs the majority of its type-checking at runtime. Such languages include Python, Perl and JavaScript. For a highly numerical system such as an algorithmic trading engine, type-checking at compile time can be extremely beneficial, as it can eliminate many bugs that would otherwise lead to numerical errors. However, type-checking doesnt catch everything, and this is where exception handling comes in due to the necessity of having to handle unexpected operations. Dynamic languages (i. e. those that are dynamically-typed) can often lead to run-time errors that would otherwise be caught with a compilation-time type-check. For this reason, the concept of TDD (see above) and unit testing arose which, when carried out correctly, often provides more safety than compile-time checking alone. Another benefit of statically-typed languages is that the compiler is able to make many optimisations that are otherwise unavailable to the dynamically - typed language, simply because the type (and thus memory requirements) are known at compile-time. In fact, part of the inefficiency of many dynamically-typed languages stems from the fact that certain objects must be type-inspected at run-time and this carries a performance hit. Libraries for dynamic languages, such as NumPySciPy alleviate this issue due to enforcing a type within arrays. Open Source or Proprietary One of the biggest choices available to an algorithmic trading developer is whether to use proprietary (commercial) or open source technologies. दोनों तरीकों के फायदे और नुकसान हैं It is necessary to consider how well a language is supported, the activity of the community surrounding a language, ease of installation and maintenance, quality of the documentation and any licensingmaintenance costs. The Microsoft stack (including Visual C, Visual C) and MathWorks MatLab are two of the larger proprietary choices for developing custom algorithmic trading software. Both tools have had significant battle testing in the financial space, with the former making up the predominant software stack for investment banking trading infrastructure and the latter being heavily used for quantitative trading research within investment funds. Microsoft and MathWorks both provide extensive high quality documentation for their products. Further, the communities surrounding each tool are very large with active web forums for both. The software allows cohesive integration with multiple languages such as C, C and VB, as well as easy linkage to other Microsoft products such as the SQL Server database via LINQ. MatLab also has many pluginslibraries (some free, some commercial) for nearly any quantitative research domain. There are also drawbacks. With either piece of software the costs are not insignificant for a lone trader (although Microsoft does provide entry-level version of Visual Studio for free). Microsoft tools play well with each other, but integrate less well with external code. Visual Studio must also be executed on Microsoft Windows, which is arguably far less performant than an equivalent Linux server which is optimally tuned. MatLab also lacks a few key plugins such as a good wrapper around the Interactive Brokers API, one of the few brokers amenable to high-performance algorithmic trading. The main issue with proprietary products is the lack of availability of the source code. This means that if ultra performance is truly required, both of these tools will be far less attractive. Open source tools have been industry grade for sometime. Much of the alternative asset space makes extensive use of open-source Linux, MySQLPostgreSQL, Python, R, C and Java in high-performance production roles. However, they are far from restricted to this domain. Python and R, in particular, contain a wealth of extensive numerical libraries for performing nearly any type of data analysis imaginable, often at execution speeds comparable to compiled languages, with certain caveats. The main benefit of using interpreted languages is the speed of development time. Python and R require far fewer lines of code (LOC) to achieve similar functionality, principally due to the extensive libraries. Further, they often allow interactive console based development, rapidly reducing the iterative development process. Given that time as a developer is extremely valuable, and execution speed often less so (unless in the HFT space), it is worth giving extensive consideration to an open source technology stack. Python and R possess significant development communities and are extremely well supported, due to their popularity. Documentation is excellent and bugs (at least for core libraries) remain scarce. Open source tools often suffer from a lack of a dedicated commercial support contract and run optimally on systems with less-forgiving user interfaces. A typical Linux server (such as Ubuntu) will often be fully command-line oriented. In addition, Python and R can be slow for certain execution tasks. There are mechanisms for integrating with C in order to improve execution speeds, but it requires some experience in multi-language programming. While proprietary software is not immune from dependencyversioning issues it is far less common to have to deal with incorrect library versions in such environments. Open source operating systems such as Linux can be trickier to administer. I will venture my personal opinion here and state that I build all of my trading tools with open source technologies. In particular I use: Ubuntu, MySQL, Python, C and R. The maturity, community size, ability to dig deep if problems occur and lower total cost ownership (TCO) far outweigh the simplicity of proprietary GUIs and easier installations. Having said that, Microsoft Visual Studio (especially for C) is a fantastic Integrated Development Environment (IDE) which I would also highly recommend. The header of this section refers to the out of the box capabilities of the language - what libraries does it contain and how good are they This is where mature languages have an advantage over newer variants. C, Java and Python all now possess extensive libraries for network programming, HTTP, operating system interaction, GUIs, regular expressions (regex), iteration and basic algorithms. C is famed for its Standard Template Library (STL) which contains a wealth of high performance data structures and algorithms for free. Python is known for being able to communicate with nearly any other type of systemprotocol (especially the web), mostly through its own standard library. R has a wealth of statistical and econometric tools built in, while MatLab is extremely optimised for any numerical linear algebra code (which can be found in portfolio optimisation and derivatives pricing, for instance). Outside of the standard libraries, C makes use of the Boost library, which fills in the missing parts of the standard library. In fact, many parts of Boost made it into the TR1 standard and subsequently are available in the C11 spec, including native support for lambda expressions and concurrency. Python has the high performance NumPySciPyPandas data analysis library combination, which has gained widespread acceptance for algorithmic trading research. Further, high-performance plugins exist for access to the main relational databases, such as MySQL (MySQLC), JDBC (JavaMatLab), MySQLdb (MySQLPython) and psychopg2 (PostgreSQLPython). Python can even communicate with R via the RPy plugin An often overlooked aspect of a trading system while in the initial research and design stage is the connectivity to a broker API. Most APIs natively support C and Java, but some also support C and Python, either directly or with community-provided wrapper code to the C APIs. In particular, Interactive Brokers can be connected to via the IBPy plugin. If high-performance is required, brokerages will support the FIX protocol . As is now evident, the choice of programming language(s) for an algorithmic trading system is not straightforward and requires deep thought. The main considerations are performance, ease of development, resiliency and testing, separation of concerns, familiarity, maintenance, source code availability, licensing costs and maturity of libraries. The benefit of a separated architecture is that it allows languages to be plugged in for different aspects of a trading stack, as and when requirements change. A trading system is an evolving tool and it is likely that any language choices will evolve along with it. Mike is the founder of QuantStart and has been involved in the quantitative finance industry for the last five years, primarily as a quant developer and later as a quant trader consulting for hedge funds. 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Templates 1 and 2 use the primary colour of NHS Blue (Pantone 300) to create a corporate look, while template 3 shows how you can use a combination of colours from the NHS colour palette to create a presentation with visual impact. Customising the templates The presentations include instructions on how to customise them. For example, how to insert your own logotype, change the images or change the colours of the presentations to suit your organisation. To insert your local NHS organisation logotype into these templates we recommend that you use the templates 2 or 3, as these have a white background so this will be easier to edit. The NHS Identity must either be placed on a white background or can be used reversed out in white. To view the templates you can simply open them on your screen. If you want to edit the templates, please save them to your computer. 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Under no circumstances may you post commercial or promotional posts to any non-commercial venue like forums, articles and comments, etc. Please be respectful and do not spam the site with links to your site or products in ways not allowed. It is understood you may believe your products are something everyone should see, and indeed it may be true. However, if everyone was allowed to post commercial content the site would become unusable. The best way to promote is to become a respected and active member of the community and take advantage of the numerous promotional tools available. All Site Locations: You may not use any area of the site including your public social wall and profile to link to resources unrelated to forex simply for the purpose of SEO related link schemes and marketing. You will be quickly banned for this without warning. Social profile and wall: In general, you may update your own profile and social wall as you see fit, however it must be within reason and must be within the guidelines above referring to all site locations. Forum Signatures: Signatures must not be overly large or obnoxious. Commercial forums: commercial forums are forums specifically set aside for commercial-oriented posts, whether that be product promotions or news and analysis from other websites and companies. There are specific rules for this type of content, please read immediately below in the next section. Please note you will definitely be suspended andor banned for repeated abuses, and you may be immediately banned without warning depending on the nature of the offense. No spam in commercial forums Commercial forums are not an open spamming venue. Non-forex related content will be removed and the poster suspended or banned. Forex related commercial posts must adhere to certain criteria as well. They must be meaninful, legitimate, not scams, not redundant, etc. An example of an acceptable commercial post in the commercial forum is a post to let users know about a new forex brokerage promotion. An example of an unacceptable post in a commercial forum is a post advertising a scam product such as one making ridiculous andor untruthful claims. Do not create multiple topics just to increase your exposure. For instance, if you post a daily market analysis article, post everyday to the same topicthread. वाणिज्यिक फ़ोरम पर पोस्ट किया गया कोई भी चीज़ अच्छी तरह से स्वरूपित होनी चाहिए। For instance, copying and pasting something from a Word document that ends up with very poor formatting will be removed. Similarly, posting something with bb tags like . that were meant for use in other forums but do not format correctly in the CBF forum, will be removed. Be Mature, exercise Respect, Tolerance, Equality Abusive, defamatory language is not tolerated. Illegal content: Obviously, no illegal content including infringment. Redundant Posts: Do not post the same question or post in multiple forums. Topic owners: Please consider and respect the wishes of the original topic creator of a forum. MT4 and CashBackForex We take a decidedly different stance regarding drawdown than how it is computed in MT4, insofar as we include open trade drawdown in determining maximal drawdown. Accounting for open trade drawdown is an essential step towards understanding the true drawdown picture. If a trade analysis system ignores it, it is creating a distortion of the actual drawdown. There are far too many systems and traders out there who have had massive open trade drawdowns, and, if they are lucky enough to close these positions in profit, they think they have had no drawdown at all. CBF Calendar is the first global economic calendar to employ its own proprietary http push technology to push data to the user browser immediately after data becomes available. One advantage of employing this technology is that CBF Calendar is able to deliver data faster and more efficiently. CBF Calendar was built with the latency and accuracy sensitive trader in mind so the data is right in front of you, fast and easy to digest. CBF calendar is always streaming so you dont need to refresh it. CBF Economic Impact Analyzer provides traders with a fast and reliable method to research the impact a given economic event had on the market for each historical instance of the event. This allows traders to make more informed trading decisions, such as when to close a position and stay out of the market due to the impending risk of large rate fluctuations, or conversely to get into the market at just the right time using surgical precision to capitalize on the inevitable fluctuations or spikes as they have been so labeled. CBF Economic Impact Charts offers a huge historical database of economic events along with historical pricing giving you research access rivaled only by expensive service subscriptions. You can quickly find the market event you wish to research by selecting the currency associated with the event and then selecting the event name. You may also change the currency pair to research how this event impacted different currency pairs. Each economic event may have occurred at or around the same time of other events and it may be important to consider these as well. Below the price chart you will find a list of all events that occurred at or about the time of the primary event you are researching. When you first register a CBF account, you should setup permissions on your social profile and related assets such as photos based on your desires and objectives. By default, your profile is set to public, meaning your profile, photos etc. are visible to CBF members and general internet users, however only CBF friends can send you private messages. You may edit any of your privacy settings like who can message you, and make it so your profile is private, shared only with CBF friends, or hidden from listings but still visible to anyone. You may also edit further detailed permissions on features such as your wall functions, photo albums, and who can send you messages. To edit your social privacy settings dropdown your My Account tab and select Settings. स्प्रेड बेटिंग वर्तमान में कैपिटल गेन्स टैक्स (सीजीटी) से मुक्त है और वहां कोई स्टैंप ड्यूटी नहीं है यह ध्यान दिया जाना चाहिए कि कर उपचार आपके व्यक्तिगत परिस्थितियों पर निर्भर करता है और भविष्य में परिवर्तन के अधीन हो सकता है। इस साइट पर जानकारी संयुक्त राज्य के निवासियों पर निर्देशित नहीं है और इसका उपयोग किसी भी देश या किसी भी क्षेत्र में वितरण या इसका उपयोग करने के लिए नहीं है, जहां ऐसे वितरण या उपयोग स्थानीय कानून या विनियम के विपरीत होगा। एप्पल, ऐप्पल लोगो, आइपॉड, आईपैड, आइपॉड टच और आईट्यून्स अमेरिका और अन्य देशों में पंजीकृत एप्पल इंक के ट्रेडमार्क हैं। iPhone एप्पल इंक का एक ट्रेडमार्क है App Store ऐप्पल इंक का एक सेवा चिह्न है। आपकी पूंजी जोखिम पर है। फैल सट्टेबाजी और सीएफडी सभी निवेशकों के लिए उपयुक्त नहीं हैं और आपको यह सुनिश्चित करना चाहिए कि आप शामिल जोखिमों को समझते हैं और यदि आवश्यक हो, तो यह सुनिश्चित करने के लिए स्वतंत्र वित्तीय सलाह प्राप्त करें कि ये उत्पाद आपके निवेश उद्देश्यों के अनुरूप हों। Bellow is a list of the top Forex Social Trading Networks and Platforms FxPro Supertrader is the social trading network of the FxPro broker. Strategies there go though a strict review and performance test prior to being accepted. It is also backed up by the FxPro Agency Model, No Dealing Desk eliminating any conflicts of interest. Social trading is a new way for retail traders and investors to access the financial markets. यह इस अवधारणा पर आधारित है कि हजारों व्यापारियों के सामूहिक ज्ञान एक के ज्ञान से बेहतर है। दुनिया भर से व्यापारियों को एक नेटवर्क में जोड़ने और वास्तविक समय में अपने विचार और व्यापार साझा करने से, निवेशक मौलिक या तकनीकी व्यापार निर्णयों के बजाय सामाजिक बनाने के लिए उस जानकारी का उपयोग कर सकते हैं। As a trader you can either use this social information to make your own decisions and trades (i. e. self-trade) or decide to automatically follow and copy one or more traders (i. e. auto-trade). - See more at: socialtradinggurusthash. sRHiOqga. dpuf Social trading is a new way for retail traders and investors to access the financial markets. यह इस अवधारणा पर आधारित है कि हजारों व्यापारियों के सामूहिक ज्ञान एक के ज्ञान से बेहतर है। दुनिया भर से व्यापारियों को एक नेटवर्क में जोड़ने और वास्तविक समय में अपने विचार और व्यापार साझा करने से, निवेशक मौलिक या तकनीकी व्यापार निर्णयों के बजाय सामाजिक बनाने के लिए उस जानकारी का उपयोग कर सकते हैं। As a trader you can either use this social information to make your own decisions and trades (i. e. self-trade) or decide to automatically follow and copy one or more traders (i. e. auto-trade). - See more at: socialtradinggurusthash. sRHiOqga. dpuf Social trading is a new way for retail traders and investors to access the financial markets. यह इस अवधारणा पर आधारित है कि हजारों व्यापारियों के सामूहिक ज्ञान एक के ज्ञान से बेहतर है। दुनिया भर से व्यापारियों को एक नेटवर्क में जोड़ने और वास्तविक समय में अपने विचार और व्यापार साझा करने से, निवेशक मौलिक या तकनीकी व्यापार निर्णयों के बजाय सामाजिक बनाने के लिए उस जानकारी का उपयोग कर सकते हैं। As a trader you can either use this social information to make your own decisions and trades (i. e. self-trade) or decide to automatically follow and copy one or more traders (i. e. auto-trade). - See more at: socialtradinggurusthash.6SAAM80s. dpuf Social trading is a new way for retail traders and investors to access the financial markets. यह इस अवधारणा पर आधारित है कि हजारों व्यापारियों के सामूहिक ज्ञान एक के ज्ञान से बेहतर है। दुनिया भर से व्यापारियों को एक नेटवर्क में जोड़ने और वास्तविक समय में अपने विचार और व्यापार साझा करने से, निवेशक मौलिक या तकनीकी व्यापार निर्णयों के बजाय सामाजिक बनाने के लिए उस जानकारी का उपयोग कर सकते हैं। As a trader you can either use this social information to make your own decisions and trades (i. e. self-trade) or decide to automatically follow and copy one or more traders (i. e. auto-trade). - See more at: socialtradinggurusthash.6SAAM80s. dpuf Hi My name is Michael Halls-Moore and Im the guy behind QuantStart. I graduated with a MMath in Mathematics from the University of Warwick, gained a PhD from Imperial College London in Fluid Dynamics, and was working in a hedge fund as a quantitative trading developer for the last few years in Mayfair, London. I now spend time on research, development, backtesting and implementation of intraday algorithmic trading strategies . Im really just a guy who once wanted to get a job as a quantitative analyst in the City of London. As a young postgraduate student, I felt that becoming a quant was the next logical step to make use of my mathematical skills in an exciting, lucrative career. I started studying to be a quant in October 2006, but soon noticed that the information I needed to know was pretty dense and quite difficult to understand without a lot of work. I really needed organisation, diagrams and useful tips from others who knew better. Nothing of that sort really existed for quant job interview preparation on the Internet, so I figured Id do it myself. And thus, QuantStart was born. I organised my notes, read all of the mathematical finance and algorithmic trading textbooks, spoke to a bunch of people and placed all of that information online so I could easily access my notes from anywhere to help me understand. Back then I didnt realise I was helping to start something big. Since QuantStarts launch in March 2010, Ive become a quantitative developer for a London hedge fund and have had more than 500,000 unique visitors use it for help - and more prospective quants and traders keep visiting. Again, Id like to thank you for using QuantStart The greatest thing about running QuantStart is hearing your stories of quant and trading success. Im driven to make the website better by continuing to add more information and providing the world with the best algorithmic trading and quant finance information available, thanks to your kind words and praise. It is a great feeling each time to hear that someone has gained their dream quant job or has finally developed a profitable algorithmic trading model because of this site. Your comments, suggestions and thanks are very much appreciated. I believe that my work with QuantStart is my way of helping the younger generation become employed in these tough economic times were going through. If I can help tens of thousands gain a job in Wall Street or the City of London, and they manage to have a successful quantitative career, then I feel like Im making a big difference. If youre new, again Im here to help you, so if you have any questions or comments (or suggestions) about anything, please feel free to contact me anytime. The best way to reach me is to email mikequantstart. Best of luck to you all Cheers 30 DAY SPECIAL OFFER BACKED WITH 90 GUARANTEE If you are not satisfied with the trading results within the first 90 days of subscribing you can cancel your subscription and receive a pro-rated refund based on time within the system (max 90 days) and the proper refund will be delivered back to you upon cancellation of your AlgoTrades subscription. We provide you with a 100 satisfaction guarantee. After 12 months of using AlgoTrades if you have allocated the recommended of capital required by the system, do not alter any trades, and if your account has not produced a 10 or greater return on your money we will extend your subscription by three months free of charge to help you profit from our automated trading system. Give AlgoTrades a try and let us wow you with its trades to give you an investing experience unlike any other. Its hard to know whats for real and what isnt in the financial industry, and its normal to be apprehensive at first when you find an investing system that looks promising or too good to be true. The good news is that the AlgoTrades algorithmic trading system is TOS certified by a third party investment tracking firm. यहां अधिक जानें सच्चाई यह है कि आप यहां हैं क्योंकि आप एक सिद्ध रणनीति की खोज कर रहे हैं जो आपको और अधिक पैसा दे सकती है, हाथ-मुक्त व्यापार प्रदान कर सकती है, और अपने निवेश से संबंधित तनाव को कम कर सकता है। Im proud to give you with the AlgoTrades System. All you have to do is link our system to your brokerage account and AlgoTrades will take over your trading and risk management for you to make more money in both rising and falling market conditions. Chris Vermeulen, AlgoTrades founder and system developer. Want To Speak Directly With Me Call Toll Free: 1 844-692-5468 Download free market data of stocks, indices, commodities and forex Where to download free market data from Finding stock data by country When looking for a stocks market data from a certain country you should find the countrys page about downloading market data first. उदाहरण के लिए। You should visit USAs page to see how to download market data of stocks from the USA. Finding forex, index, commodity data Details about the free market data providers Above pages vary not only in the supported equities but in other services too. When looking for free data of a product you should take a look at the table of dataproviders per product or the country index where a free data provider is listed for each equity category. Yahoo Finance. Chartoasiss chart software shows the market price instead of the price adjusted for dividends (whichs is also listed in the downloaded data file). Yahoo Finance stores data of a very long period in some cases (eg. GE - since 1962). Download interval is the longest possible interval by default. Downloading data can be made easier by saving the links of products data download page to Favourites or Bookmarks. Yahoo Finance UK. Its properties are similar to the global Yahoo Finance page. Google Finance. Most data is meant without dividend correction but in most cases data contain correction for splits. Downloading data can be made easier by saving the links of products data download page to Favourites or Bookmarks. RTS. There is no opportunity to save any link to Favourites or Bookmarks. Take care of missing data in the data files. Prices currency may vary. Stooq. Downloading data can be made easier by saving the links of products data download page to Favourites or Bookmarks. In some cases there is an opportunity to download prices with split or dividend correction. पोर्टफोलियो। हू। It contains the most up to date market data for Hungarian equities. Besides stocks you can download price data of Hungarian bonds, certificates and investment funds. There is no opportunity to save any link to Favourites or Bookmarks. What do you have to take care of when downloading free market data Chartoasiss chart software can draw charts using the downloaded data only. For this reason users must know exactly what kind of data has been downloaded. It depends on many factors how up-to-date the data is: Time of market closure. In many cases market closure happens in the afternoon (according to local time of the market) but if market is continuous (eg. like in the case of commodities) data is summarized at midnight. Updating data. Some providers tell market data before market closure - in this case closing price is the actual price of the equity on the market. It may happen, that closing price is available before market closure but volume data is not accessible. It can also happen that data is updated after market closure with a delay. If market data you want to analyze is available at different providers (see the table of dataproviders per product and the table of alternative data providers for countries ) you have to experience which one suits you better. Daily weekly resolution: chart software awaits daily data. Weekly data must not be downloaded, it is calculated by the chart software itself. Amount of data. using too few data may cause inaccuracy of indicators and functions of market data. When selecting period to download take care of that some methods depend on the amount of data. उदाहरण के लिए। a SMA with a parameter of 200 on weekly data need at least 200 weeks data to have a valid result at all so it requires more than 3 years data. It is recommended to download as much data as possible. Split and dividend. dividends and stock splits can cause jumps in market price that have effects on the indicators and signals read from them. You should take care of if data contains correction for splits and dividends. (Also take care of that the usual percentage of dividends vary from year to year and from country to country. eg. some companies pay dividend 4 times a year (having less effect on the market price) but others pay dividend once a year). Trading volume and prices. there are equities traded on more markets and prices are not exactly the same on each market. (Eg. because there is some natural difference between markets or markets do not close in the same time). Volume may reflect the trading volume of one market only. Trading volume is given as number of traded shares in most cases but in some cases only the turnover (sum value of transactions) is given. For some intervals volume data may be completely missing. You always have to take care of what kind of market data is downloaded. Currencies, numbers. Currency of prices in downloaded data may not be univocal in all cases since some data providers provide data in more currencies. It may happen that you download data of Gazprom from RTS in USD but the dividend is given in RUR on the website of the company. Numbers may be rounded, too. Errors in data. Data providers do not check all numbers they provide, downloaded data may contain inconsistencies and errors. Having experienced weird things on the chart We recommend you to check downloaded data because the root cause of problems may lie in the data itself. (Eg. missing data, filled with zeros, daily minium is higher than the maximum and so on. ) Take a look at the example below. Bond trading strategies pdf vantage live binary options trading room My typical trend following strategies spread trades. 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Tlo, tlh, fixed income cash markets what is binary options signal indicators binary option methods kites trading santander share price on spanish stock exchange double binary option no risk 10 rules of technical trading By Matthew Bradbard January 13, 2014 There are two major types of analysis normally used to forecast the performance of commodity futures: fundamental and technical. मौलिक विश्लेषण मूल्य और कीमत के व्यवहार का अध्ययन है, जबकि तकनीकी विश्लेषण मूल्य को प्रभावित करने वाले आपूर्ति और मांग कारकों की जांच करता है। The world of technical analysis is complex, but with a working knowledge can be applied to virtually any market. There are literally hundreds of different patterns and indicators that technical analysts look at, but you should find early on what works for you and what doesnt. Here we set out to introduce you to 10 important rules of technical trading as first described by technical trading legend John J. Murphy. Anyone who has ever looked into technical analysis will have heard of Murphy a technical analyst with more than 35 years of market experience. His book, ldquoTechnical Analysis of the Financial Markets, rdquo should be part of every traders library. मर्फी ने लिखा है कि तकनीकी ट्रेडिंग के 10 महत्वपूर्ण नियम, आरडीओ और ये सिद्धांत आज भी प्रासंगिक हैं। हम उनसे सीख सकते हैं और उन पर निर्माण कर सकते हैं। Adding to their appeal, Murphys rules are designed to explain the concept of technical trading to the beginner and to streamline the trading methodology of the more experienced market participant. They are meant to equip traders with a meaningful framework on which to pin their own technical analysis, and assist with answering some of the following questions: Which way is the market moving How far up or down will it go And when will it go the other way These are the basic concerns of the technical analyst. Even if you have read Murphys rules before, it is always a good idea to re-visit them. Below are Murphys 10 Most Important Rules of Technical Trading, followed by my commentary (in italics) on specific aspects of the rules: 1. Map the Trends Study long-term charts. कई वर्षों तक फैले मासिक और साप्ताहिक चार्ट के साथ एक चार्ट विश्लेषण शुरू करें मार्केटडावो के बड़े पैमाने पर लिडक्ओपैप एक बाजार पर अधिक दृश्यता और बेहतर दीर्घकालिक परिप्रेक्ष्य प्रदान करता है। एक बार लंबी अवधि की स्थापना के बाद, दैनिक और इंट्रा-डे चार्ट्स से परामर्श करें। एक अल्पकालिक बाजार दृश्य अकेले भ्रामक हो सकता है। Even if you only trade the very short term, you will do better if youre trading in the same direction as the intermediate and longer term trends. मैट ब्रैब्डर्ड: जब स्थिति व्यापार की स्थापना करते हैं, उस क्रम में मासिक, साप्ताहिक, और फिर दैनिक चार्ट देखें My best trades have said the same thing on all three time frames buy or sell. How much money (trading capital) do you need to trade Not everyone is going to have the same amount of money to start with. The amount of money you have the size of your trading capital will determine the position size that you are able to trade with. The position size is essentially the amount of money you put into the market in other words the amount that you trade. The larger the position size, the more money you will make if the trade wins. However, this also means you can lose more money. This is why using the correct position size is so important, because you can keep within the correct limits of money management and protect your capital from losing trades. So how do you determine how much you should risk As you know, you should never risk more than 1-2 of your trading account on any single trade, which is why your trading capital will determine how much money you can trade with. However, the size of your stop loss will also determine the size of your position, because whatever your trading capital is, the larger the stop loss, the more you will have to reduce your position size to make sure that you keep within the correct limits of money management. The different types of position sizes When trading forex. there are three different types of position sizes that are usually available to you: Each one requires a different amount to trade, depending on your stop loss. We will first explain the difference between them using an example of a trade with a fixed 20 pip stop loss. In forex, a standard trading contract equates to 100,000 units of the base currency. This is known as a standard lot. This means that one standard lot has a value of roughly 10 per pip (depending on the currency pair you are trading), so if the market moves 1 pip in your favour, you make 10 if the trade moves against you, then you will lose 10 per pip. If you open a trade and the market moves against you by 10 pips. this equates to 100 . A standard lot equates to 100,000 units of currency. This means that a standard lot has a value of roughly 10 per pip . In order for a trader to be able to trade a standard lot, you would need a large enough account to withstand a losing trade at 10 per pip. If you open a trade that has a 20 pip stop loss this means that a losing trade on a standard lot is 200. In this case, you must have an account of at least 10,000 2 of 10,000 is 200 . Some people do not have a trading capital of 10,000 and so brokers are able to offer a different position size for traders with less capital to start with. They do this by subdividing the standard lot contract into ten this is known as a mini lot. A mini lot equates to 10,000 units of the base currency. This means that a mini lot has a value of roughly 1 per pip . A mini lot is equal to 10,000 units of currency. This means that instead of each trade having a value of 10 per pip, each trade will now have a value of 1 per pip and you can start with less than 10,000. If you open a trade with a 20 pip stop loss this means that a losing trade is 20. In this case, you could trade quite comfortably with an account of 2,000 2 of 2,000 is 40. Some people, however, do not have or do not want to start with a trading capital of 2,000. Brokers have therefore introduced the micro lot that divides the mini lots further by ten. A micro lot equates to 1,000 units of the base currency. This means that a micro lot has a value of roughly 0.10 per pip . This means that each contract traded is 1,000 units of currency and gives each pip the value of 0.10. A trade with a 20 pip stop loss will result in a 2 loss. In this case, someone can start trading with as little as 500 or even 150 2 of 150 is 3 . Determine the maximum position size you want trade with depending on your account Of course, not every trade is going to have a stop loss of 20 pips and so it is important for you to determine the position size for each trade. In order to do so, you can apply the following formula that will tell you how much you can trade depending on the size of your trading account and the size of the stop loss: Position Size in Lots (Account Size X the risk per trade) (Stop Loss in Pips X Loss per Pip per Lot) Lets say that you have a 5,000 trading account and you have a 15 pip stop loss. You only want to risk 2 of your account. Assuming that you are trading with US dollars. where each standard lot traded means that a pip movement is 10, the position size is calculated as follows: Position size (5,000 x 2) (15 x 10) 0.66 You always round the result down. This means that you can trade 0.6 lots, or 6 mini lots for this trade. So, in order to trade comfortably with 6 mini lots, you need an account size of 5,000 to stay within a 2 limit risk. Be careful when using the formula to make sure that the currency of the numerator and denominator are the same if not, convert one into the other at the current market price . So far, you have learned that. the amount you can trade with depends on the amount of trading capital you have and the size of the stop loss on the trade. the different position sizes in the forex market are a standard lot, where each pip moment is worth 10, a mini lot, where each pip movement is worth 1 and a micro lot, where each pip movement is worth 0.1. in order to calculate the exact position size you can use the formula: Position Size in Lots (Account Size X the risk per trade) (Stop Loss in Pips X Loss per Pip per Lot). नोट: इस मद को बिक्री के लिए वर्तमान में पेश नहीं किया जा रहा है डे ट्रेडिंग सिस्टम 8212 बेस्टसेलिंग क्लासिक ट्रेडिंग डीडी डॉट-कॉम दिवस से कार्रवाई में असली मॉनिटर्स दिखाती है मूल रूप से करीब एक दशक पहले दर्ज किया गया था, यह किसी न किसी, गुरिल्ला शैली वाला वीडियो दिखाता है कि दिन के कारोबार ने 2000 के दशक के आरंभ में कैसे काम किया। अपडेट की गई रणनीतियों के लिए, हमारे ऑनलाइन कोर्स (नव-रिकॉर्ड किए गए वीडियो के साथ) और मेरी और स्टीव नेसन 14-डीवीडी स्टॉक ट्रेडिंग सफलता प्रणाली को देखने के बजाय सुनिश्चित करें। यह ऐतिहासिक वीडियो नए डीवीडी प्रारूप में उपलब्ध कराया जा रहा है (मूल रूप से यह वीएचएस स्वरूप था), जो उन लोगों के लिए एक सेवा के रूप में देखना चाहते हैं कि कितने साल पहले व्यापार ने काम किया था। नोट: चालू बाजारों में (2013) हम टेप रीडिंग का इस्तेमाल करते हैं, इस वीडियो में शामिल 2 स्तर के व्यापारिक तकनीकों में से कुछ नहीं। क्यों कारण DECIMALIZATION और हाई-फ्रेंचाइजी कारोबार (2001) शुरू करने के बाद, इस वीडियो में लिले गए 2-आधारित आधारित व्यापार रणनीति के कई काम भी उतने ही काम नहीं करते जितना उन्होंने उपयोग किया था। पसंदीदा प्रविष्टि के बाहर ट्रेड मैनेजमेंट टैक्टीक इंस्टीड के रूप में सीखें। यदि आप देखना चाहते हैं कि स्तर 2 और काम करने के लिए इस्तेमाल किए जाने वाले अन्य ऐतिहासिक तरीकों से, यह व्यापारिक स्टाइल के लिए एक अच्छा संसाधन है। Fidelity Review 2015: Commissions, Fees, and Minimum Deposit Fidelity New Account Setup Fidelitys account opening process is very well designed and quick - it took only ten minutes to open a regular brokerage (non-IRA) account. The application includes designating a beneficiary, setting up document delivery options (we always choose email) and ACH information to transfer money fromto a bank. After the account is opened, transferring money from your bank is a simple matter of going to Accounts Trade - Transfer MoneyShares in the main menu of the homepage. The main downside is that the ACH deposits you make with Fidelity will generally not be available for trading (or withdrawal) for up to 4-6 business days, which is much longer than with many other brokers. Fidelity Mutual Funds Review Fidelity Investments is one of the largest mutual fund companies in the world, with 430 mutual funds under management, that target dozens of asset classes: index funds, U. S. stocks and international stocks funds, asset allocation funds, sector funds and others. In total, the firm offers over 10,000 mutual funds for clients to invest in. Fidelitys own mutual funds and funds in NTF program are commission free. All other mutual funds can be purchased for 49.95 or 75. Selling mutual funds is free unless client sells within 60 days of purchasing - then Short Term Trading Fee of 49.95 applies (does not apply to Fidelity family funds). There is a Low Balance Fee of 12 per year for each noncore Fidelity fund with balance under 2,000. Fidelity WebsiteTrading PlatformTools Review Fidelity website is now much better designed, less cluttered, and more intuitive than it used to be. But some parts of it are still using old design and parts of it are missing navigation menu. Fidelity cant even list all the fees on the website - instead provides a 6-page PDF document with all the charges. The firm has many of the standard tools that other online brokers offer such as stock screeners and portfolio builders. One of the best things about online trading with Fidelity is the ability to actually trade stocks in 25 countries via various stock exchanges and 16 currencies around the globe with the flexibility to settle in either U. S. dollars or the local currency. Fidelity research tools (such as stock screening, historical trading strategies, daily market commentary, and individual stock research) are impressive. There are research reports from 12 different independent firms covering over 4,500 companies, as well as 36 tax, savings, and retirement calculators. The company also offers two advanced trading platforms: first is Active Trader Pro that requires at least 36 trades in a rolling 12-month period, and the second is Wealth-Lab Pro that requires at least 120 trades during the same period. Both platforms are excellent but most competitors provide their advanced platforms with no conditions to all customers. Fidelity offers applications for iPhone, iPad, Android, and Windows Phone. The interface is intuitive and user friendly. Users can transfer funds between Fidelity and non-Fidelity accounts, make a mobile check deposit, place trades, pay bills, and contact customer service. Fidelity Investments Review: Company Pros No surcharges on penny stocks, large orders, or after-hours trading Great investment research tools with large selection of independent research from 12 firms Huge selection of commission-free mutual funds Free DRIPs (dividend reinvestment plans) No account maintenance or inactivity fees Great customer service Rich selection of investment products Good banking services (checking, savings accounts, and credit cards) 84 commission-free ETFs Fidelity Investments Review: Company Cons Very high commissions - 49.95 (75 for some funds) - to purchase non-Fidelity mutual funds 12 annual Low Balance Fee for each noncore Fidelity mutual fund if balance is under 2,000 High margin rates Foreign currency wires cost up to 3 of principal Advanced trading platform, Active Trader Pro, is available only to clients making 36 trades per year High 2,500 minimum to open an account Fidelity Review Summary Fidelity Investments is one of the largest brokerage companies in the U. S. and as such, provides a wide array of services to their investors. Fidelity offers advice in wealth management, investment guidance, charitable giving, and provides lots of educational content for novice and professional investors alike. The firm is offering over 10,000 mutual funds, life insurance, college savings plans and more. The Fidelitys commission for stocks and ETFs is 7.95 per trade, which is just slightly above the average in the industry. Options trading costs 7.95 plus 0.75 per contract. The company does not charge account maintenance (except 25 year for SIMPLE IRA) or inactivity fees, and does not add surcharges on penny stocks, large orders or extended hours trading. But the minimum initial deposit for most accounts is somewhat high 2,500. Fidelitys mutual fund commission varies from 0 for Fidelity and NTF mutual funds to 75 per transaction for some non-Fidelity funds. Keep in mind that there is a 50 short-term redemption fee for mutual funds sold less than 60 days after being purchased. There is also a 12 annual Low Balance Fee for any non-core Fidelity fund with balance under 2,000. Fidelitys website needs more work, but their independent investment research selection from third parties is among the best in the industry. The firm created powerful, advanced trading platforms but they are only available to clients making at least 36 trades per year. In contrast, the best trading platform on the market, TD Ameritrades ThinkorSwim. is available to all TD Ameritrade clients. We recommend opening an account with Fidelity to someone who wants to invest in Fidelity ETFs and mutual funds for the long run, provided there is enough money to avoid the Low Balance Fee. Open Fidelity Investments Account Fidelity Reviewed by Brokerage-Review on Sep 24, 2015. Reviewed by Editor and 40 Fidelity customers. Rating: 4 The statistical arbitrage trading strategy is an approach to equity trading that uses data mining systems and automated trading, and attempts to make a profit based on a concept similar to pairs trade strategy. Stocks are known to shift up and down over time and so a pairs trade strategy tries to take advantage of these shifts by predicting the next ones based on what has already happened recently. Two stocks that are in the same market might be considered a pair, because you might assume that they will do similarly over a long period of time, very generally speaking. A trader might notice a divergence between two stocks in a pair, for example, stock A goes down and stock B goes up. Using a pairs trade strategy, that trader might purchase some of stock A and short some of stock B with the assumption that their prices will eventually shift towards each other again. The strategy assumes that a stock that has recently gone down is more likely to go back up, and a stock that has recently gone up is more likely to go down soon. Statistical Arbitrage basically takes that concept and applies it to a portfolio of a hundred stocks or more. The portfolio also applies diversification by taking stocks from different industries and regions to eliminate beta exposure and other risks. The construction of this portfolio is automatic and has two steps to its process. The first step is scoring, where each stock in the portfolio is assigned a numeric ranking of desirability based on how well or poorly it has done recently. Continuing out of the pairs trade concept, stocks that have done well recently are given a number that represents low desirability and stocks that have done poorly recently are ranked as being more desirable. This concept is also known as mean reversion, which is that prices will generally always shift back to their historical average. The second step of portfolio construction is risk reduction, where the desired amounts of each stock are computed based on optimizing the risk of the portfolio. There are other types of statistical arbitrage that incorporate different concepts such as leadlag, psychological barriers, corporate movement, and also momentum. One of the risks involved with taking up a statistical arbitrage strategy is the availability of trading time and liquidity. For example, lets say you have an automatic system that accepts 10 quarters at a time and flips the quarters for you, and every time a quarter lands on heads the machine gives you 1. You decided to use this machine because it is known to flip quarters to heads more often than tails. Therefore, you know that overtime that the machine will generate a profit for you. What happens if you run out quarters before that happens That is one of the main basic risks of statistical arbitrage, which is that you could have losses over the short term. 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A moving average is the average value of price action da ta compiled over a specific period of time. आम तौर पर चलती औसत संकेतक के रूप में आता है, जो किसी परिसंपत्ति की प्रवृत्ति को बाहर करने के लिए उपयोग किया जाता है। दूसरे शब्दों में, मूविंग एवरेज का उपयोग मुद्रा की जोड़ी की कीमत की जांच के लिए किया जा सकता है जो ऊपर या नीचे बढ़ेगा। यदि आप Forex4you पर अपने MT4 प्लेटफॉर्म की जांच करते हैं यह स्पष्ट रूप से देखा जाएगा कि चलती औसत ट्रेन्ड संकेतकों के बीच वर्गीकृत किया गया है। मूविंग एवरेज से व्यापारी को कुछ लचीलेपन की अनुमति मिलती है क्योंकि उन्हें चुनने के लिए उनका उपयोग करना संभव है कि कौन से डेटा अंक और समय अवधि उनसे निर्माण करें। उदाहरण के लिए, आप किसी ट्रेडिंग रेंज के खुले, उच्च, निम्न, बंद या मिडपॉइंट का उपयोग करना चुन सकते हैं और फिर समय की अवधि में चलती औसत का अध्ययन कर सकते हैं, टिक डेटा से लेकर मासिक मूल्य डेटा या अधिक समय तक। कई प्रकार की चलती औसत हैं हालांकि, रिटेल फॉरेक्स प्लेटफार्मों पर सूचीबद्ध औसत चलने की सबसे सामान्य प्रकार सरल, घातीय, भारित और चिकनी चलती औसत हैं। ये ये हैं कि हम इस लेख के उद्देश्यों के लिए ध्यान केंद्रित करेंगे। ऊपर स्नैपशॉट दिखाता है कि EURJPY के लिए एक घंटे की चार्ट पर तीन चलती औसत कैसे छापें। तीन चलती औसत 10-अवधि भारित चलती औसत, 10-अवधि का घातीय चलती औसत, और 10-अवधि की सरल चलती औसत। ये चलती औसत क्रमशः नीले, लाल और सोने के रंग वाली रेखाओं के साथ प्रस्तुत की जाती हैं। तीन चलती औसत में आम तौर पर वे आंकड़ों के आधार पर अलग-अलग वजन लेते हैं। इसका एक असर होगा कि व्यापार निर्णय पर विचार करते समय व्यापारी किस चल औसत का इस्तेमाल करेगा इन चलती औसत के पीछे गणित की लंबी चर्चा में जाने के बिना, घातीय चलती औसत और भारित चलती औसत सबसे हाल के आंकड़ों पर और अधिक जोर देने के लिए जाते हैं, जबकि सरल चलती औसत ऐतिहासिक और हालिया डेटा पर समान जोर देता है। व्यापार के प्रयोजनों के लिए, हमने पाया है कि सरल चलती औसत ऐतिहासिक और हालिया आंकड़ों के उपयोग में इसके संतुलन के कारण सबसे अच्छा संकेत पैदा करता है। हमने जिन कई रणनीतियों पर चर्चा की है, वे सरल चलती औसत पर आधारित हैं। इस आलेख में उपयोग किए जाने वाले उदाहरण इसलिए 10-अवधि की सरल चलती औसत पर अधिकतम ध्यान केंद्रित करेंगे। चलती औसत पर आधारित अधिकांश व्यापारिक संकेत एक ही समय अवधि के उपयोग पर आधारित नहीं हैं। बल्कि यह अलग-अलग समय-सारिताओं की दो या तीन चलती औसतों को जोड़ना अधिक समझ में आता है। यह आम तौर पर फ़िल्टरिंग और पुष्टिकरण के लिए किया जाता है इस बात को ध्यान में रखते हुए, हमें कुछ चलती औसत रणनीतियों पर गौर करें जो कई समय अवधि की औसत चलती हैं। 1. दोहरी मूविंग औसत क्रॉसओवर सिस्टम शीर्षक, और दोहरी और क्रॉसओवर के शब्दों का उपयोग करने के लिए ध्यान दें। यह हमें सिस्टम के संपूर्ण सार के बारे में बताता है जिस पर चर्चा की जा रही है। चलने की औसत का उपयोग करते हुए एक व्यापार प्रणाली बनाते समय, स्नैपशॉट में दर्शाए गए अनुसार, दोहरी चलती औसत क्रॉसओवर दृष्टिकोण का उपयोग, आमतौर पर एक अच्छा प्रारंभिक बिंदु है। इस प्रणाली में दो चलती औसतों का उपयोग होता है, आमतौर पर एक छोटी और लंबी अवधि की चलती औसत होती है, और फिर एक तेज़ गति, कम समय अवधि का क्रॉस का उपयोग करता है जो या तो ऊपर या नीचे लम्बी चलने वाली औसत से नीचे चलती औसत के लिए एक प्रवृत्ति दिशा की पुष्टि करता है। इस चित्रण में, हम 5-अवधि की सरल चलती औसत और 10-अवधि की सरल चलती औसत का उपयोग करते हैं। उन्हें क्रमशः पतली नीली रेखा और एक मोटी काली रेखा के साथ चित्रित किया गया है। इस उदाहरण में, हम देखते हैं कि 5-अवधि की चलती औसत ने 10-बार चलती हुई औसत कई बार पार कर ली है, लेकिन क्रॉसओवर के साथ एक रैलीिंग प्रवृत्ति और गिरने की प्रवृत्ति (शुरुआत और अंत में चार्ट में समय सीमा)। क्रॉसओवर की अवधि लाल तीरों द्वारा उल्टे और हरे तीरों को उल्टा करने के लिए दर्शाती है। ये लाल तीर हमें बताते हैं कि 5-अवधि की सरल चलती औसत 10-अवधि की सरल चलती औसत से नीचे पार हो गई है, और ग्रीन तीर दिखाती है कि 5-अवधि की सरल चलती 10-अवधि की सरल चलती औसत को ऊपर की ओर पार कर गई है। एक ही चार्ट को फिर से देखें, लेकिन चक्रित क्षेत्र पर कुछ जोर के साथ, हम देख सकते हैं कि दोहरे क्रॉसओवर सरल चलती औसत प्रणाली द्वारा निर्मित संकेत कुछ समस्याएं पैदा कर सकते हैं, जो इस मामले में संकेत दे रहे हैं जब वास्तव में बाजार समाप्त हो जाएगा उस विशेष क्षण पर इसकी रेंज-बाउंड स्थिति के कारण कहीं नहीं जा रहा है इससे पहले कि आप उस क्रॉसओवर को देखकर और खुद को सोचें कि एक मौका बहुत पैसा बनाने के लिए आया है, फिर से सोचें। पार्टी को बर्बाद करने के लिए इन सीमाबद्ध परिस्थितियों को न केवल करना पड़ता है, लेकिन आपको यह भी महसूस करना होगा कि चलती औसत में एक बड़ी कमी है: चलती औसतएं संकेतक ठोकरें हैं वे बाजार ढंका करते हैं, इसलिए जब चल औसत औसत ने संकेत दिखाया है, तो शायद यह बहुत देर हो चुकी है, और फिर आप खुद को बग़ल में बाजार या बाजार में लॉक कर सकते हैं जहां कोई रुझान नहीं दिखाया जाता है, जो दिखाया गया है काले वृत्त में दोहरी सरल चलती औसत क्रॉसओवर सिस्टम का उपयोग करते समय इस तरह की घटनाओं को अपने व्यापार को बर्बाद करने से रोकने के लिए, कुछ तरीके हैं जिन्हें आप तैनात कर सकते हैं। ये निम्नानुसार हैं: सबसे पहले, मुद्रा जोड़ी जो आप व्यापार में रुचि रखते हैं, साथ ही उस समय के फ्रेम का चयन करें, जिसे आप पढ़ना चाहते हैं यह उदाहरण के लिए, एक दैनिक चार्ट पर EURUSD हो सकता है दूसरी प्रवृत्ति पूर्वाग्रह के बिना एक समय अवधि चुनना है। यह सुनिश्चित करके किया जाता है कि जांच की जाने वाली समयावधि में ट्रेंडिंग अनुभाग और गैर-ट्रेंडिंग अनुभाग दोनों शामिल हैं। प्रवृत्ति पूर्वाग्रह को खत्म करने से आप अपने परीक्षण में सटीक परिणाम प्राप्त कर सकते हैं। उपयोग करने के लिए चलने वाले औसत मापदंडों की पहचान करने के लिए अनुकूलन का संचालन करें। एक बार जब आप इन चरणों को पूरा कर लें, तो यह देखने के लिए पूरी तरह से अलग समय की जांच करें कि आपके द्वारा प्राप्त किए गए परिणाम दोहराए जा सकते हैं। आप कुछ साल पहले एक समय अवधि चुनने के लिए चुन सकते हैं कि यह पुष्टि करने के लिए कि आपके द्वारा प्राप्त किए गए परिणाम सदाबहार हैं और कुछ महीनों या सालों में विश्वास के साथ इस्तेमाल किया जा सकता है। यह कदम अत्यंत महत्वपूर्ण है। विज्ञान में, डबल-अंधा अध्ययन करने के लिए यह असामान्य नहीं है। यह वही है जो यह कदम नकल करना चाहता है In forex can call it Out-of-Sample Data testing. यह निर्धारित करने का एकमात्र तरीका है कि आपके अनुकूलन के परिणाम एक व्यवहार्य मैकेनिकल ट्रेडिंग सिस्टम के रूप में समय की कसौटी पर खड़े हो सकते हैं। आप परिणाम प्राप्त नहीं करना चाहते हैं, जो केवल कुछ सप्ताह तक चलेगा और फिर हमेशा के लिए बेकार हो जाएगा 2. औसत मूल्य चैनल प्रणाली को स्थानांतरित करना दोहरी चलती औसत क्रॉसओवर सिस्टम में कई कमियां हैं, जिनमें से प्रमुख सिस्टम की प्रबलता के लिए व्हाइस्पॉज़ को भुगतना पड़ता है। यही कारण है कि इस पर काबू पाने के लिए एक प्रणाली के साथ आने की आवश्यकता है। दोहरी चलती औसत क्रॉसओवर सिस्टम के साथ उत्पन्न व्हाइस्पॉज़ या गलत संकेतों को दूर करने का एक तरीका चलती औसत मूल्य चैनल प्रणाली की तैनाती है। इसमें 20 की आवधिकता के साथ चालू औसत सूचक सेट का उपयोग शामिल होगा, और अलग से उच्च पर और मूल्य के कम पर भी लागू होगा। इस मामले में इस्तेमाल होने वाली चलती औसत एक 20-अवधि की औसत चलती औसत कीमत है, जो नीचे स्नैपशॉट में उच्च काली रेखा है, साथ ही साथ 20-अवधि की कीमत कम होने के सामान्य चल औसत। कम काले रेखा चलती औसत मूल्य चैनल दो काले रंग की रेखाओं के बीच की जगह होती है, जबकि नीली रेखा बंद होने की कीमत का 5-अवधि की सरल चलती औसत है। स्नैपशॉट पर दिखाए गए सिग्नल खरीदने और बेचने के लिए संबंधित तीरों से चिह्नित किया जाता है: एक बिकने वाले सिग्नल के लिए एक खरीदने के लिए हरे तीर और लाल तीर। एक खरीद संकेत तब देखा जाता है जब 5-अवधि की सरल चलती औसत बंद या नीली रेखा चलती औसत मूल्य चैनल की ऊपरी सीमा रेखा से ऊपर पार करती है। निचली रेखा से नीचे की नीली रेखा को पार करते हुए एक बेचना संकेत उत्पन्न होता है, जो कि 20-अवधि की सरल चलती औसत से दर्शाता है। हम यह देख सकते हैं कि मूल्य चैनल का उपयोग डूएल चलने वाले औसत क्रॉसओवर सिस्टम के साथ दिखाई जाने वाले whipsaws की संख्या को काफी कम कर देगा क्योंकि यह सेट अप के लिए बहुत अधिक तंग फिल्टर बनाता है जो कि मुद्रा जोड़ी से पारित होनी चाहिए By creating more significant hurdles for the price action to overcome prior to the generation of a trade signal, fewer signals are generated, but these signals are much more accurate. आम तौर पर अधिक सटीक संकेत प्राप्त करना बेहतर होता है, जो संख्या में कम है, इतने सारे संकेतों के उत्पन्न होने की तुलना में, लेकिन झूठे संकेतों के एक बड़े प्रतिशत के साथ जो ट्रेडों पर होने वाले नुकसान को जन्म देगा। यदि एक दोहरी चलती औसत क्रॉसओवर सिस्टम और चलती औसत मूल्य चैनल प्रणाली के बीच एक विकल्प बनना है, तो बाधाएं मूल्य चैनल प्रणाली के पक्ष में हैं क्योंकि समर्थन और प्रतिरोध के क्षेत्रों का पता लगाने में इसकी श्रेष्ठता है, जहां से प्रवृत्ति उल्टा होने की संभावना है । सावधानी के एक नोट यह याद रखना महत्वपूर्ण है कि मुद्रा जोड़े एक ही तरीके से व्यवहार नहीं करते हैं इसलिए जो EURUSD के लिए बहुत अच्छी तरह से काम कर सकते हैं वह जरूरी नहीं कि EURJPY के लिए काम करें। ऊपर वर्णित चलती औसत सेटअपों का उपयोग कर मैकेनिकल ट्रेडिंग सिस्टम बनाने के दौरान यह ध्यान में रखा जाना चाहिए। कोई भी जादू की गोलियां नहीं हैं, और सभी मुद्रा जोड़े, जिन्हें आप व्यापार में रुचि रखते हैं, पर प्रत्येक सेटअप के लिए सेटिंग्स का परीक्षण और ऑप्टिमाइज़ करना सबसे अच्छा है। 3. संयोजन रणनीति: चलते औसत क्रॉसओवर औसत मूल्य चैनल और भी बेहतर परिणाम प्राप्त करने के लिए, व्यापारी एक संयोजन रणनीति का उपयोग करने का निर्णय ले सकता है, जिसमें चलती औसत क्रॉसओवर और चलती औसत मूल्य चैनल तकनीकों को जोड़ दिया जाता है। यह रणनीति नीचे स्नैपशॉट में प्रदर्शित की गई है: मूल्य चैनल प्रणाली AUDJPY के एक घंटे के चार्ट पर दिखाई जाती है। The green arrows identify when the blue line crosses the 20-period moving average of the higher line, which is a 20-period simple moving average of the price high. लाल तीर मूल्य की कम 20-अवधि की सरल चलती औसत के नीचे एक क्रॉस इंगित करते हैं। हीरे संकेत देते हैं कि 5-अवधि की चलती औसत 10-अवधि के नीचे पार हो गई है। रणनीति का अनिवार्य तत्व दो चलती औसत प्रणालियों का सबसे अच्छा संयोजन करना है जो ऊपर वर्णित किया गया है। अंतिम उद्देश्य दो दुनिया के सर्वश्रेष्ठ प्राप्त करना है ये क्या हैं) कम लेकिन अधिक सटीक प्रविष्टियां हासिल करने के लिए और चलती औसत मूल्य चैनल प्रणाली का उपयोग करके झूठी व्यापारिक संकेतों को खत्म करना b) जल्दी से निकल पाना ताकि आपके अचेतन लाभ के बड़े हिस्से को बाजार में वापस न दें, दोहरी गति का उपयोग कर औसत क्रॉसओवर सिस्टम सबसे लोकप्रिय स्थानांतरण औसत से चुनने के लिए इतने सालों के साथ, विदेशी मुद्रा व्यापार के लिए चलने की औसत का उपयोग करते समय कौन से सेटिंग को सोने के मानक माना जाता है? दुनिया भर में इस्तेमाल होने वाले सबसे लोकप्रिय दोहरे क्रॉसओवर में से एक 50-अवधि का संयोजन है बंद की सरल चलती औसत और करीब 200-अवधि की सरल चलती औसत। चलती औसत की स्थापना में उपयोग की जाने वाली समयावधि की लंबाई के कारण यह सेटिंग दैनिक चार्ट पर सर्वश्रेष्ठ काम करती है ऊपर स्नैपशॉट यूडीसीएडीएडी का दैनिक चार्ट है, और जब 200-अवधि की चलती औसत सहायता प्रदान की जाती है, तो एक उदाहरण प्रदर्शित करता है, जबकि 50-अवधि की चलती औसत प्रदान की गई प्रतिरोध (नीली रेखा पर चक्कर)। हालांकि, मुद्राओं के लिए, सेटिंग्स स्टॉक के लिए सबसे अच्छा और कम काम करती हैं चूंकि विदेशी मुद्रा व्यापार हमारा ध्यान यहां है, इसलिए हम उन सेटिंग्स का उपयोग करेंगे जो मुद्राओं के लिए काम करने के लिए दिखाए गए हैं, जो कि 13-और 26-अवधि की अग्रानुक्रम अग्रानुक्रम में है, साथ ही साथ 100 एसएमए को सहयोगी फ़िल्टर के रूप में इस्तेमाल किया जाना है। नीचे की रणनीति 100 एसएमए द्वारा प्रदान किए गए ट्रेडों के समर्थन और प्रतिरोध के साथ, मुद्रा चार्ट पर बंद होने के 13-हफ्ते और एक 26-सप्ताह की सरल चल औसत का उपयोग करते हुए इस तरह के एक क्रॉस ओवर सिस्टम को दिखाती है। यह कैसे काम करता है हम लंबे समय से प्रविष्टियों की तलाश करेंगे जब कीमत 100 एसएमए से ऊपर होगी, इस एसएमए पर उछाल की तलाश में जब 26 एसएमए के ऊपर 13 एसएमए का क्रॉस हुआ। रंग-कोडित एमएसीडी को व्यापार की पुष्टि के तौर पर इस्तेमाल किया जा सकता है। We shall be using the daily time frame for this trade. दैनिक चार्ट कैंडलस्टिक पर एक दिन की गतिविधि दिखाता है This means that a trader must pay attention to risk management as stops used will be equivalent to the intraday range of some of the currencies (up to 100 pips or more). It therefore means that traders using this strategy should be a bit more patient as the trade will take days to fully play out. किसी भी मुद्रा जोड़ी को इस रणनीति के व्यापार के लिए इस्तेमाल किया जा सकता है। Color-coded MACD Histogram 13-week simple moving average (13SMA) 26-week simple moving average (26SMA) 100-week simple moving average (100SMA) The trader should enter long on the asset if: When the 13SMA crosses above the 26SMA to the upside. मूल्य 100 एसएमए से ऊपर है, या आदर्श रूप से, इसे बंद कर देता है। रंग कोडित एमएसीडी रंग में नीला है। The Stop Loss for the long entry should be set to around 10 15 pips below the entry candlestick. इस व्यापार के लिए लाभ लेने के लिए, लाभ लक्ष्य निम्नलिखित स्थितियों के तहत स्थित हो सकते हैं: यदि 13 एसएमए 26 एसएमए से नीचे की तरफ के लिए एक रिवर्स क्रॉस करता है। 100 SMA 2X या 3X के नीचे की कीमत टूटता है। Look at this chart for the AUDJPY. यह एक दैनिक चार्ट है जो लंबे और शॉर्ट ऑर्डर व्यवस्थाओं के लिए परिदृश्यों को जोड़ता है A short entry setup is seen there is a corresponding cross of the 13SMA over the 26SMA to the downside at the same time that the MACD histogram is red in color and the price is being resisted off the 100SMA. व्यापारी फिर से लाल घेरे वाले क्षेत्र द्वारा दिखाए गए शॉर्ट पोजीशन ले सकता है और लाभ ले सकता है: इस क्षेत्र में लाभ लेना जहां एमएसीडी रंग बदलता है। उस क्षेत्र में लाभ लेते हैं जहां मूल्य कार्रवाई एक प्रतिरोध स्तर को हिट करती है, जैसा कि कई मोमबत्तियों द्वारा बनाई गई नई चढ़ाव की विशेषता है। The long entry setup is shown by a cross of the 13SMA over the 26SMA to the upside, at the same time that the MACD histogram has turned blue, and price is bouncing off the 100SMA. लाभ लक्ष्यों को उसी समय सेट किया जा सकता है कि 26 एसएमए पर 13 एसएमए का रिवर्स क्रॉस होता है या कीमत प्रतिरोध पर।

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