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Jordan Maddison's Achievements
Is Forex trading illegal?
Jordan Maddison replied to Daniel Carter's question in ForexHello, thank you for your question! One of the most common misconceptions about Forex trading is that it is illegal. Individuals in various countries get confused because they think that Forex trading is similar to gambling, which is not similar to. Numerous bodies control and regulate Forex trading in various countries, they do the necessary background check of the trader and his credentials. By doing so they make sure that regulations enacted by laws in their countries are respected, and that Forex is kept free from immoral traders. In the USA these regulators are SEC, CTFC, NFA, FINKA, and SIPC. They all concern themselves with different parts of Forex trading such as securities, market regulation, protection of investors, and independent overseeing roles. Other larger countries, which have a large volume of trade like Switzerland (FINMA), UK (FCA), Australia ( ASIC), European Union (ESMA, MIFD) all have their regulating bodies, which are put in place to control and regulate trading, and new traders. People often think that Forex is banned in the USA, but that is not true. It is very tightly and carefully monitored which in some segments makes the trade harder and more complicated. Also, there is a requirement that demands that those companies which want to provide Forex trading services need to have a security deposit of $20 million. Which deters some providers, and they do not provide this service to US citizens. In Islamic countries, which adhere to the Sharia Law, parts of Forex trade that contain interest have been removed, but Forex trade is still available interest-free, also without the use of leverage that is forbidden in accordance with the Sharia Law.
How is Forex taxed?
Jordan Maddison posted a question in ForexHow is Forex taxed?
How to become a Forex trader?
Jordan Maddison posted a question in ForexHello. How does one become a Forex trader?
What is Forex?
Jordan Maddison posted a question in ForexWhat is Forex?
How to become a day trader?
Jordan Maddison posted a question in StocksHow can I become a day trader?
What to look for in stock charts?
Jordan Maddison posted a question in StocksHi, what should I look for in stock charts?
Who makes the best stock charts?
Jordan Maddison posted a question in StocksWho makes the best stock charts?
How to read stock charts?
Jordan Maddison posted a question in StocksHello. Can someone help me understand how to read stock charts?
Hello Grace, Tokyo’s Nikkei Index could drop when the trading resumes on Monday, after the initial weekly jobless claims count in the US rose for the first time in 4 months, to 1.416 million. This figure beat the market estimates of 1.30 million. This could indicate the resurgence of unemployment, following a second Covid-19 large=scale in some of the states of the US. The recovering US trading session may have affected Asian stocks at the open. However, it is more likely that this represents a healthy correction instead of a big reversal of the bull market, given that US corporate earnings continue to look good. Over 80% of the S&P 500 companies that posted earnings results have exceeded analysts’ estimates. Nikkei components are consolidating near the key support level at 22,550, where its 20-Day Simple Moving Average (SMA) is positioned. Dropping under this level could send the index further down towards the 22,480 (10-Day SMA), followed by the major support at 22,000.
What is Ichimoku Cloud?
Jordan Maddison replied to Jane Goodwin's question in ForexHi Jane, The Ichimoku Cloud refers to a group of technical indicators designed to determine support and resistance levels, momentum and trend direction. The indicators achieve this by taking several averages and outlining them on the chart. Ichimoku Cloud also uses the averages to calculate a so-called “cloud” which serves to predict where the price could find support or resistance. The method was designed by Goichi Hosoda, a Japanese journalist, and put to service in the late 1960s. The cloud offers more data points compared to a standard candlestick chart. The Cloud consists of five lines or calculations, and two of them form a cloud where the difference between the two lines appears shaded. To calculate the Ichimoku Cloud, you could add the indicator to your chart and it will do the calculations automatically, but there’s also a way to do it manually.
What is a Bull Call Spread?
Jordan Maddison replied to Dennis Mayer's question in OptionsHi Dennis, thanks for joining us. A Bull Call Spread is an options trading strategy used by traders to make a profit from a gradual price rise in the underlying stock. The strategy is made up of one long call with a lower strike price and one short call with a higher strike price. Both of them involve the same underlying stock and have the same expiry date. It is set up for net costs and profits as the price of the underlying stock increases. The profit is limited in case the share price rises higher compared to the strike price of the short call, and the possible loss is limited if the stock price drops below the strike price of the long call. While the main advantage of the strategy is its ability to cap the losses, the main disadvantage is that the gains are capped as well.