Forex documentary fed
If you know any movie or TV show that should make this list, leave me a comment below this post! I want to make this list of the best movies for Forex traders even better in the future! I'd love to know your thoughts! I'm a swing Forex trader who has the chance to travel the world anytime and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom. You see, a lot of aspiring Forex traders lack the confidence to pursue their dreams.
In order to demonstrate compliance with the capital requirements, an FDM should make and maintain daily records showing the transactions executed that day and their effect on the firm's obligations to its customers. The record of daily trades should show, at a minimum, the date, time, currency pair, price, and size of each transaction; commissions and fees; and the person for whom the transaction was made.
For options, the record should include whether the option is a put or a call, the strike price, the delta, and the premium. The record of obligations to customers should include the gross profits and the gross losses to customers, the firm's open currency exposures to customers, the sum of the customers' cash balances, and the net liquidating value of all customer accounts combined. The individuals responsible for preparing an FDM's books and records must be under the ultimate supervision of a listed principal and registered AP of the Member.
Such principal is also responsible for researching and selecting the independent public accountant that certifies the firm's annual financial statements. The FDM must demonstrate that its system of internal controls provides reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP.
The FDM must also demonstrate that its system of internal financial controls has no material weaknesses and that it is adequate for establishing and maintaining internal controls over financial reporting by the Member. An FDM may satisfy this obligation by obtaining an internal control report that is prepared and certified by an independent public accountant who is registered under Section of the Sarbanes-Oxley Act SOX.
The internal control report shall contain, at a minimum, a detailed explanation of the examination performed by the accountant and a representation by the accountant that it has examined and tested the FDM's system of internal controls and that the controls comply with the above standards. If NFA believes that a Member's internal controls are inadequate at any time, NFA's Compliance department may require it to provide to NFA an internal control report that is prepared and certified by an independent public accountant who is registered under Section of the SOX.
The internal control report shall meet the above standards. Forex Reporting Requirements Each FDM must be able to properly account for all funds received from and owed to customers. FDMs should prepare a daily computation showing the total amount of customer funds on deposit, the total amount of customer open positions, and the total amount due to customers.
The firm must file with NFA three report types: daily electronic reports showing liabilities to customers and other financial and operational information; monthly operational and risk management reports; and quarterly reports that contain the most-recent performance disclosures required under CFTC Regulation 5. The daily reports must be prepared each business day, and must be filed by noon on the following business day.
The monthly reports must be filed within 17 business days after the end of each month for which the report is prepared. Similarly, the quarterly reports must be filed within 17 business days after the end of each quarter for which the report is prepared.
Submitting these reports certifies that the person filing it is a supervisory employee that is, or is under the ultimate supervision of, a listed principal who is also an NFA Associate, is duly authorized to bind the FDM, and that all information in the report is true, correct, and complete. Each FDM must have a supervisory system in place to ensure that the Risk Management Program is being diligently followed by all appropriate personnel.
Written Risk Management Program Each FDM must adopt written policies and procedures that describe the risk management program and those policies and procedures must be approved in writing by the firm's governing body. The firm must also ensure that any materials changes to the policies and procedures are approved in writing by the firm's governing body. The Risk Management Program must include procedures for the timely distribution of the written Risk Management Program to relevant supervisory personnel.
The FDM is required to maintain records of the persons whom the Risk Management Program is distributed to along with the date of distribution. The RMU must have sufficient authority; qualified personnel; and financial, operational and other resources to carry out the firm's Risk Management Program.
The RMU should report directly to the firm's senior management, and must be independent from those employees involved including in a supervisory capacity in pricing, trading, sales, marketing, advertising, and solicitation activities of the FDM collectively business trading unit. The RMU also must provide to FDM senior management and its governing body quarterly written risk exposure reports, which set forth all applicable risk exposures of the FDM, breaches of any established risk limits, any recommended or completed changes to the Risk Management Program, the recommended time frame for implementing recommended changes; and the status of any incomplete implementation of previously recommended changes to the Risk Management Program.
An FDM must also immediately provide senior management and its governing body with an interim risk exposure report any time the FDM detects a material change in its risk exposure. Elements of the Risk Management Program and Tolerance Limits The Risk Management Program must include policies and procedures to monitor and manage the following risks: market risk, credit risk, liquidity risk, foreign currency risk, legal risk, operational risk, counterparty risk, liabilities to retail forex customers risk, technological risk, capital risk, and any other applicable risk.
The Risk Management Program must set risk tolerance limits for each of these risks. The Risk Management Program must discuss the underlying methodology used in setting these limits; as well as any policies and procedures governing exceptions to these limits and detecting and reporting breaches to appropriate management. Each FDM's senior management on a quarterly basis and governing body on an annual basis should review and approve the risk tolerance limits. Stress Testing The FDM's RMU must require the FDM to conduct stress tests under extreme but plausible conditions of all positions in the proprietary account and in each counterparty account both retail customers and ECPs at least on a semi-monthly basis.
The review and testing should be conducted by qualified internal audit staff that are independent of the business trading unit, or by a qualified third party audit service, which reports to FDM staff that are independent of the business trading unit.
The review must include an analysis of adherence to, and the effectiveness of, the risk management policies and procedures, and any recommendations for modifications to the Risk Management Program. The results of the review must be reported to and reviewed by the FDM's senior management and governing body. The FDM must document all internal and external reviews, and testing of the Risk Management Program including the date of the review or test; the results; any identified deficiencies; the corrective action taken; and the date the corrective action was taken.
Recordkeeping The FDM must maintain copies of all written policies and procedures, changes to the policies and procedures and all required approvals for the period required by CFTC Regulation 1. The FDM must clearly notate any financial information that has been amended.
A firm's procedures must cover these key areas: internal policies, procedures and controls reasonably designed to achieve compliance with the BSA and implementing regulations; appointment of a designated compliance officer to oversee the program's day-to-day operations; an ongoing training program; appropriate risk-based procedures for conducting ongoing customer due diligence including, but not limited to: understanding the nature and purpose of developing a customer risk profile; and conducting ongoing monitoring to detect and report suspicious transactions and on a risk basis to maintain and update customer information including identifying and verifying beneficial owners.
Customer Identification Program The AML program must include procedures to obtain information about the customer and to verify their identity. Unlike NFA's "know your customer" requirements, these requirements apply to all customers, not just individuals. A Member must obtain the following minimum information before it transacts business e.
In addition to obtaining this minimum information, the Member must take steps to verify the customer's identity. You do not have to verify the customer's identity before transacting business with the customer but must do so within a reasonable time before or after the first business transaction.
The procedures for verifying the customer's identity should: describe those situations where documents will be used to verify identity and list the documents that will be used e. If a Member cannot identify a customer that is not an individual using its normal procedures, the Member may need to obtain information about the individual with authority or control over the account. Your firm's customer identification procedures should describe those situations where the firm will obtain this information.
Members are not required to determine whether a document used to verify identity is valid. If a document appears to be a forgery or there is other evidence of fraud, however, your firm must decide whether it has enough information to form a reasonable belief that it knows the customer's true identity. The same is true if the information provided by the customer is inconsistent e.
A Member may rely on another U. The law provides a safe harbor if the BSA requires the other financial institution to have an AML program, that financial institution enters into a contract with the Member agreeing to annually certify that it has implemented an AML program and will perform the required steps, and reliance is reasonable under the circumstances. Your firm's procedures must describe any circumstances where it will rely on another financial institution.
Although the safe harbor does not apply unless all of the above conditions are satisfied, firms may also choose to rely on U.
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Support various scenarios and Category folders published desktop is virtual mouse. Site" along with Latins et les. It makes sense to me that they would have assets, and that they would grow gradually, along with the economy. Then, the assets stay relatively constant while the Fed figures out how to unwind the program. Finally, in , the Fed starts to allow the portfolio to run off, by not reinvesting interest payments and maturities. At the time, investors were worried about a possible recession and the yield curve was inverted.
And then, of course, the pandemic arrives, and the recession which we know now was just two months long brings about even more stimulus than before. In fact, since that initial jolt, the Fed has bought another trillion. It may work out just fine, but I think there are risks to the strategy that could lead to slower economic growth, higher interest rates, and other adverse effects.
Just as importantly, as markets rose, we kept our allocations the same, which in a rising market means taking money from the risky assets and increasing the allocation to the safe assets. And while some people are scared that it might lead to a crash at some point which it may , it could also just mean a long time where returns are modest. Pelosi's Power.
Putin's Road to War. American Reckoning. American Insurrection. Richard then concludes that the market may be short sterling. So coupled with the fact that the market may be short sterling and with the Russian buying, the price may go up. Richard starts to buy in 5 million lot sizes.
Richard Hill has accumulated a position of 35 million pounds in preparation for the short squeeze and Russian buying to push the price up. In other words that the market is stuck being short sterling and may need to start buying to get out of their shorts.
Richard starts selling to take profit. Richard starts selling. Not bad for the currency dealers. They know how to make quick money in the forex markets. You think the dealers used any charts, trendlines, stochastics, etc? The action moves over to Rony Schlapfer who is preparing for the trading day in New York.
Rony Schlapfer works with this partner Brad Westerfield. He has two assistants to help him. If you caught it, one of their assistants is recording charts. If it is not right we cut it and we stay away again. Looks like he is a momentum trader trying to catch an explosion of volatility for some quick profit. The commentator says that by currency dealing standard, Rony Schlapfer operates long term, by actually keeping his marks overnight.
This implies that the currency dealers like to hold their positions for seconds, minutes, or a little bit longer. It implies they never want to hold them overnight. The action goes back to London. The money supply figures are due to be released and it seems the market is sensitive towards them and could have an affect on the pound. Richard Hill is attempting to position himself for the money supply figures and has bought 20 million pounds.
But the price is zig zagging as other currency dealers are placing their bets. Hill responds by saying he may decide to cut the position size down before the money supply figures. Again the Reuters portable quote machine is shown. Richard Hill has triggers for the money supply figures.
He knows that if it is above half a percent, the pound should rise. If it is below the pound may fall. An extension you use may be preventing Wikiwand articles from loading properly. If you are using an Ad-Blocker , it might have mistakenly blocked our content. You will need to temporarily disable your Ad-blocker to view this page. Back to homepage. Our magic isn't perfect You can help our automatic cover photo selection by reporting an unsuitable photo.
The cover is visually disturbing. The cover is not a good choice. Rich Minimal Serif. Justify Text. Note: preferences and languages are saved separately in https mode. University of Washington educational media collection. Forex Factory. Credit: see original file. Billion Dollar Day. Suggest as cover photo Would you like to suggest this photo as the cover photo for this article? Yes, this would make a good choice No, never mind.
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Billion Dollar Day - a 1986 documentary about currency (forex) speculative trading
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Finally, in , the Fed starts to allow the portfolio to run off, by not reinvesting interest payments and maturities. At the time, investors were worried about a possible recession and the yield curve was inverted. And then, of course, the pandemic arrives, and the recession which we know now was just two months long brings about even more stimulus than before.
In fact, since that initial jolt, the Fed has bought another trillion. It may work out just fine, but I think there are risks to the strategy that could lead to slower economic growth, higher interest rates, and other adverse effects. Just as importantly, as markets rose, we kept our allocations the same, which in a rising market means taking money from the risky assets and increasing the allocation to the safe assets.
And while some people are scared that it might lead to a crash at some point which it may , it could also just mean a long time where returns are modest. Pelosi's Power. Putin's Road to War. American Reckoning. American Insurrection. Shots Fired. Massacre in El Salvador. Pandora Papers. The rules around how financial advisors can invest that money on behalf of clients saving for retirement are about to change.
William Wong wants to dump 21 million dollars and he is scared that if he gets it done slowly that the market will pick up on it. So he gets his co workers to execute the orders all within a close time limit to each other so the market will not realize.
The action moves back to Richard Hill in London. If you catch the Reuters portable receiver again the price quotes are approximately:. It seems Richard wants to gun some stops to the downside and look to make pips. Not bad. Stop hunting back 26 years ago and it still exists today. Part C. Richard Hill sits down in the dealing operation of Barclays Bank.
It is a question of whether you make the best use of the information or not. What does playing the market on peoples positions mean? Well it means gunning some stops, or squeezing players out of their positions, either quickly or gradually. If they can figure out where the intraday players pain tolerance points are, they can take a bit of profit out of them. William Wong calls Barclays direct to get a quote for the pound. William decides to buy 5 million pounds.
Richard sells more pounds and the price could of hit some stops and the market drops half a cent or 50 pips. He says that the dealers cannot afford to lose the concentration, just in case there is an explosion of volatility, the dealers cannot be caught on the wrong side of the market.
This is his feel for the market. Richard decides to jump on their bandwagon. He preps the other dealers to start buying tens of millions of dollars in pounds. Richard then concludes that the market may be short sterling. So coupled with the fact that the market may be short sterling and with the Russian buying, the price may go up. Richard starts to buy in 5 million lot sizes.
Richard Hill has accumulated a position of 35 million pounds in preparation for the short squeeze and Russian buying to push the price up. In other words that the market is stuck being short sterling and may need to start buying to get out of their shorts. Richard starts selling to take profit. Richard starts selling. Not bad for the currency dealers. They know how to make quick money in the forex markets. You think the dealers used any charts, trendlines, stochastics, etc? The action moves over to Rony Schlapfer who is preparing for the trading day in New York.
Rony Schlapfer works with this partner Brad Westerfield. He has two assistants to help him. If you caught it, one of their assistants is recording charts. If it is not right we cut it and we stay away again. Looks like he is a momentum trader trying to catch an explosion of volatility for some quick profit. The commentator says that by currency dealing standard, Rony Schlapfer operates long term, by actually keeping his marks overnight. This implies that the currency dealers like to hold their positions for seconds, minutes, or a little bit longer.
It implies they never want to hold them overnight. The action goes back to London. The money supply figures are due to be released and it seems the market is sensitive towards them and could have an affect on the pound. Richard Hill is attempting to position himself for the money supply figures and has bought 20 million pounds. But the price is zig zagging as other currency dealers are placing their bets. Hill responds by saying he may decide to cut the position size down before the money supply figures.
Again the Reuters portable quote machine is shown. Richard Hill has triggers for the money supply figures.
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