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Dollar's farewell performance. Review as of 30.10.2020
What is good for the greenback is good for Trump. Does the current White House tenant have a chance to keep his chair?
Can the USD index's rise right before the election be a tribute to retiring Trump?
Those Americans are so strange: less than a week is left, and they still don't know who will be the president! Financial markets appear not to understand that either. The S&P 500's fall on the eve of the election indicates that the party in power's candidate will lose. The ratings indicate the same, but the US dollar is growing by leaps and bounds, while investors know: what is good for the greenback is good for Donald Trump. Can the Republican still have a chance? Or is it the USD's farewell performance for Trump? https://preview.redd.it/05ez9n4828w51.jpg?width=1164&format=pjpg&auto=webp&s=eab79fbf5beec7a869becfef8bb8197116dc1b96 Even if we forget about the pandemic and trade wars, we'll see that a weak dollar has run all through Trump's presidency. The US' 45th president did his best to weaken the greenback, accusing China and Europe of manipulating their currencies, asking the Fed to cut rates and revive QE, and calling Jerome Powell the USA's main enemy. In the end, things didn't go the way Trump wanted. The USD index was consolidating stably from the beginning of 2018 and up to May 2020. The strong economy helped the Fed raise rates several times, which other central banks couldn't afford. Tax cuts and deregulation became a boon for US companies and the whole stock market. That drove capital to the USA and strengthened the dollar. The trading war slowed global trading down, cut the euro's rate, and boosted demand for safe-haven assets. The greenback won all the same. https://preview.redd.it/0p75min828w51.jpg?width=1164&format=pjpg&auto=webp&s=c833d6501df48d672fecb6b4f1340304394b0ff3 The US' 45th president will enter history books as a man who spoiled everything and as a man who first speaks and then thinks. His attempts to describe things better than they are make everybody smile and make him lose his authority. Trust is like paper: once creased, it's hard to smooth it out. Trump called the US' Q3 GDP growth "best in history" and said the year 2021 would be fantastic. However, Sleepy Biden's tax hike may "kill it all"! In fact, the US economy is now 3.5% worse than at the beginning of 2019. To get back to the previous figures, it needs to expand 15% in Q4, which is practically impossible. The current president is to be blamed for that too, as anti-pandemic measures weren't taken in good time. People say a clever man admits his faults, a cunning man blames others, and a stupid man is proud of them. Sounds true. The key-note of Donald Trump's presidency was looking for a scapegoat. It was either China or Jerome Powell. The president's opponents would keep silent, understanding what consequences return criticism may have. Joe Biden won't keep silent. He says recovery is slowing down or even standing still, while the current high GDP value doesn't help millions of ordinary Americans who have lost their jobs. https://preview.redd.it/os6pk6vm28w51.jpg?width=1164&format=pjpg&auto=webp&s=b04eff9aac40e66083524f9bf71674d8d98c0a03 What frightens me the most is that the new US president is neither Trump nor Biden...but Alzheimer! For more information follow the link to the website of the LiteForex https://www.liteforex.com/blog/chatty-forex/dollars-farewell-performance-review-as-of-30102020/?uid=285861726&cid=62423
Disclaimer: None of this is financial advice. I have no idea what I'm doing. Please do your own research or you will certainly lose money. I'm not a statistician, data scientist, well-seasoned trader, or anything else that would qualify me to make statements such as the below with any weight behind them. Take them for the incoherent ramblings that they are. TL;DR at the bottom for those not interested in the details. This is a bit of a novel, sorry about that. It was mostly for getting my own thoughts organized, but if even one person reads the whole thing I will feel incredibly accomplished.
For those of you not familiar, please see the various threads on this trading system here. I can't take credit for this system, all glory goes to ParallaxFX! I wanted to see how effective this system was at H1 for a couple of reasons: 1) My current broker is TD Ameritrade - their Forex minimum is a mini lot, and I don't feel comfortable enough yet with the risk to trade mini lots on the higher timeframes(i.e. wider pip swings) that ParallaxFX's system uses, so I wanted to see if I could scale it down. 2) I'm fairly impatient, so I don't like to wait days and days with my capital tied up just to see if a trade is going to win or lose. This does mean it requires more active attention since you are checking for setups once an hour instead of once a day or every 4-6 hours, but the upside is that you trade more often this way so you end up winning or losing faster and moving onto the next trade. Spread does eat more of the trade this way, but I'll cover this in my data below - it ends up not being a problem. I looked at data from 6/11 to 7/3 on all pairs with a reasonable spread(pairs listed at bottom above the TL;DR). So this represents about 3-4 weeks' worth of trading. I used mark(mid) price charts. Spreadsheet link is below for anyone that's interested.
I'm pretty much using ParallaxFX's system textbook, but since there are a few options in his writeups, I'll include all the discretionary points here:
I'm using the stop entry version - so I wait for the price to trade beyond the confirmation candle(in the direction of my trade) before entering. I don't have any data to support this decision, but I've always preferred this method over retracement-limit entries. Maybe I just like the feeling of a higher winrate even though there can be greater R:R using a limit entry. Variety is the spice of life.
I put my stop loss right at the opposite edge of the confirmation candle. NOT at the edge of the 2-candle pattern that makes up the system. I'll get into this more below - not enough trades are saved to justify the wider stops. (Wider stop means less $ per pip won, assuming you still only risk 1%).
All my profit/loss statistics are based on a 1% risk per trade. Because 1 is real easy to multiply.
There are definitely some questionable trades in here, but I tried to make it as mechanical as possible for evaluation purposes. They do fit the definitions of the system, which is why I included them. You could probably improve the winrate by being more discretionary about your trades by looking at support/resistance or other techniques.
I didn't use MBB much for either entering trades, or as support/resistance indicators. Again, trying to be pretty mechanical here just for data collection purposes. Plus, we all make bad trading decisions now and then, so let's call it even.
As stated in the title, this is for H1 only. These results may very well not play out for other time frames - who knows, it may not even work on H1 starting this Monday. Forex is an unpredictable place.
I collected data to show efficacy of taking profit at three different levels: -61.8%, -100% and -161.8% fib levels described in the system using the passive trade management method(set it and forget it). I'll have more below about moving up stops and taking off portions of a position.
And now for the fun. Results!
Total Trades: 241
TP at -61.8%: 177 out of 241: 73.44%
TP at -100%: 156 out of 241: 64.73%
TP at -161.8%: 121 out of 241: 50.20%
Adjusted Proft % (takes spread into account):
TP at -61.8%: 5.22%
TP at -100%: 23.55%
TP at -161.8%: 29.14%
As you can see, a higher target ended up with higher profit despite a much lower winrate. This is partially just how things work out with profit targets in general, but there's an additional point to consider in our case: the spread. Since we are trading on a lower timeframe, there is less overall price movement and thus the spread takes up a much larger percentage of the trade than it would if you were trading H4, Daily or Weekly charts. You can see exactly how much it accounts for each trade in my spreadsheet if you're interested. TDA does not have the best spreads, so you could probably improve these results with another broker. EDIT: I grabbed typical spreads from other brokers, and turns out while TDA is pretty competitive on majors, their minors/crosses are awful! IG beats them by 20-40% and Oanda beats them 30-60%! Using IG spreads for calculations increased profits considerably (another 5% on top) and Oanda spreads increased profits massively (another 15%!). Definitely going to be considering another broker than TDA for this strategy. Plus that'll allow me to trade micro-lots, so I can be more granular(and thus accurate) with my position sizing and compounding.
A Note on Spread
As you can see in the data, there were scenarios where the spread was 80% of the overall size of the trade(the size of the confirmation candle that you draw your fibonacci retracements over), which would obviously cut heavily into your profits. Removing any trades where the spread is more than 50% of the trade width improved profits slightly without removing many trades, but this is almost certainly just coincidence on a small sample size. Going below 40% and even down to 30% starts to cut out a lot of trades for the less-common pairs, but doesn't actually change overall profits at all(~1% either way). However, digging all the way down to 25% starts to really make some movement. Profit at the -161.8% TP level jumps up to 37.94% if you filter out anything with a spread that is more than 25% of the trade width! And this even keeps the sample size fairly large at 187 total trades. You can get your profits all the way up to 48.43% at the -161.8% TP level if you filter all the way down to only trades where spread is less than 15% of the trade width, however your sample size gets much smaller at that point(108 trades) so I'm not sure I would trust that as being accurate in the long term. Overall based on this data, I'm going to only take trades where the spread is less than 25% of the trade width. This may bias my trades more towards the majors, which would mean a lot more correlated trades as well(more on correlation below), but I think it is a reasonable precaution regardless.
Time of Day
Time of day had an interesting effect on trades. In a totally predictable fashion, a vast majority of setups occurred during the London and New York sessions: 5am-12pm Eastern. However, there was one outlier where there were many setups on the 11PM bar - and the winrate was about the same as the big hours in the London session. No idea why this hour in particular - anyone have any insight? That's smack in the middle of the Tokyo/Sydney overlap, not at the open or close of either. On many of the hour slices I have a feeling I'm just dealing with small number statistics here since I didn't have a lot of data when breaking it down by individual hours. But here it is anyway - for all TP levels, these three things showed up(all in Eastern time):
7pm-4am: Fewer setups, but winrate high.
5am-6am: Lots of setups, but but winrate low.
12pm-3pm Medium number of setups, but winrate low.
I don't have any reason to think these timeframes would maintain this behavior over the long term. They're almost certainly meaningless. EDIT: When you de-dup highly correlated trades, the number of trades in these timeframes really drops, so from this data there is no reason to think these timeframes would be any different than any others in terms of winrate. That being said, these time frames work out for me pretty well because I typically sleep 12am-7am Eastern time. So I automatically avoid the 5am-6am timeframe, and I'm awake for the majority of this system's setups.
Moving stops up to breakeven
This section goes against everything I know and have ever heard about trade management. Please someone find something wrong with my data. I'd love for someone to check my formulas, but I realize that's a pretty insane time commitment to ask of a bunch of strangers. Anyways. What I found was that for these trades moving stops up...basically at all...actually reduced the overall profitability. One of the data points I collected while charting was where the price retraced back to after hitting a certain milestone. i.e. once the price hit the -61.8% profit level, how far back did it retrace before hitting the -100% profit level(if at all)? And same goes for the -100% profit level - how far back did it retrace before hitting the -161.8% profit level(if at all)? Well, some complex excel formulas later and here's what the results appear to be. Emphasis on appears because I honestly don't believe it. I must have done something wrong here, but I've gone over it a hundred times and I can't find anything out of place.
Moving SL up to 0% when the price hits -61.8%, TP at -100%
Adjusted Proft % (takes spread into account): 5.36%
Taking half position off at -61.8%, moving SL up to 0%, TP remaining half at -100%
Adjusted Proft % (takes spread into account): -1.01% (yes, a net loss)
Now, you might think exactly what I did when looking at these numbers: oof, the spread killed us there right? Because even when you move your SL to 0%, you still end up paying the spread, so it's not truly "breakeven". And because we are trading on a lower timeframe, the spread can be pretty hefty right? Well even when I manually modified the data so that the spread wasn't subtracted(i.e. "Breakeven" was truly +/- 0), things don't look a whole lot better, and still way worse than the passive trade management method of leaving your stops in place and letting it run. And that isn't even a realistic scenario because to adjust out the spread you'd have to move your stoploss inside the candle edge by at least the spread amount, meaning it would almost certainly be triggered more often than in the data I collected(which was purely based on the fib levels and mark price). Regardless, here are the numbers for that scenario:
Moving SL up to 0% when the price hits -61.8%, TP at -100%
Winrate(breakeven doesn't count as a win): 46.4%
Adjusted Proft % (takes spread into account): 17.97%
Taking half position off at -61.8%, moving SL up to 0%, TP remaining half at -100%
Winrate(breakeven doesn't count as a win): 65.97%
Adjusted Proft % (takes spread into account): 11.60%
From a literal standpoint, what I see behind this behavior is that 44 of the 69 breakeven trades(65%!) ended up being profitable to -100% after retracing deeply(but not to the original SL level), which greatly helped offset the purely losing trades better than the partial profit taken at -61.8%. And 36 went all the way back to -161.8% after a deep retracement without hitting the original SL. Anyone have any insight into this? Is this a problem with just not enough data? It seems like enough trades that a pattern should emerge, but again I'm no expert. I also briefly looked at moving stops to other lower levels (78.6%, 61.8%, 50%, 38.2%, 23.6%), but that didn't improve things any. No hard data to share as I only took a quick look - and I still might have done something wrong overall. The data is there to infer other strategies if anyone would like to dig in deep(more explanation on the spreadsheet below). I didn't do other combinations because the formulas got pretty complicated and I had already answered all the questions I was looking to answer.
2-Candle vs Confirmation Candle Stops
Another interesting point is that the original system has the SL level(for stop entries) just at the outer edge of the 2-candle pattern that makes up the system. Out of pure laziness, I set up my stops just based on the confirmation candle. And as it turns out, that is much a much better way to go about it. Of the 60 purely losing trades, only 9 of them(15%) would go on to be winners with stops on the 2-candle formation. Certainly not enough to justify the extra loss and/or reduced profits you are exposing yourself to in every single other trade by setting a wider SL. Oddly, in every single scenario where the wider stop did save the trade, it ended up going all the way to the -161.8% profit level. Still, not nearly worth it.
As I've said many times now, I'm really not qualified to be doing an analysis like this. This section in particular. Looking at shared currency among the pairs traded, 74 of the trades are correlated. Quite a large group, but it makes sense considering the sort of moves we're looking for with this system. This means you are opening yourself up to more risk if you were to trade on every signal since you are technically trading with the same underlying sentiment on each different pair. For example, GBP/USD and AUD/USD moving together almost certainly means it's due to USD moving both pairs, rather than GBP and AUD both moving the same size and direction coincidentally at the same time. So if you were to trade both signals, you would very likely win or lose both trades - meaning you are actually risking double what you'd normally risk(unless you halve both positions which can be a good option, and is discussed in ParallaxFX's posts and in various other places that go over pair correlation. I won't go into detail about those strategies here). Interestingly though, 17 of those apparently correlated trades ended up with different wins/losses. Also, looking only at trades that were correlated, winrate is 83%/70%/55% (for the three TP levels). Does this give some indication that the same signal on multiple pairs means the signal is stronger? That there's some strong underlying sentiment driving it? Or is it just a matter of too small a sample size? The winrate isn't really much higher than the overall winrates, so that makes me doubt it is statistically significant. One more funny tidbit: EUCAD netted the lowest overall winrate: 30% to even the -61.8% TP level on 10 trades. Seems like that is just a coincidence and not enough data, but dang that's a sucky losing streak. EDIT: WOW I spent some time removing correlated trades manually and it changed the results quite a bit. Some thoughts on this below the results. These numbers also include the other "What I will trade" filters. I added a new worksheet to my data to show what I ended up picking.
Total Trades: 75
TP at -61.8%: 84.00%
TP at -100%: 73.33%
TP at -161.8%: 60.00%
Moving SL up to 0% when the price hits -61.8%, TP at -100%: 53.33%
Taking half position off at -61.8%, moving SL up to 0%, TP remaining half at -100%: 53.33% (yes, oddly the exact same winrate. but different trades/profits)
Adjusted Proft % (takes spread into account):
TP at -61.8%: 18.13%
TP at -100%: 26.20%
TP at -161.8%: 34.01%
Moving SL up to 0% when the price hits -61.8%, TP at -100%: 19.20%
Taking half position off at -61.8%, moving SL up to 0%, TP remaining half at -100%: 17.29%
To do this, I removed correlated trades - typically by choosing those whose spread had a lower % of the trade width since that's objective and something I can see ahead of time. Obviously I'd like to only keep the winning trades, but I won't know that during the trade. This did reduce the overall sample size down to a level that I wouldn't otherwise consider to be big enough, but since the results are generally consistent with the overall dataset, I'm not going to worry about it too much. I may also use more discretionary methods(support/resistance, quality of indecision/confirmation candles, news/sentiment for the pairs involved, etc) to filter out correlated trades in the future. But as I've said before I'm going for a pretty mechanical system. This brought the 3 TP levels and even the breakeven strategies much closer together in overall profit. It muted the profit from the high R:R strategies and boosted the profit from the low R:R strategies. This tells me pair correlation was skewing my data quite a bit, so I'm glad I dug in a little deeper. Fortunately my original conclusion to use the -161.8 TP level with static stops is still the winner by a good bit, so it doesn't end up changing my actions. There were a few times where MANY (6-8) correlated pairs all came up at the same time, so it'd be a crapshoot to an extent. And the data showed this - often then won/lost together, but sometimes they did not. As an arbitrary rule, the more correlations, the more trades I did end up taking(and thus risking). For example if there were 3-5 correlations, I might take the 2 "best" trades given my criteria above. 5+ setups and I might take the best 3 trades, even if the pairs are somewhat correlated. I have no true data to back this up, but to illustrate using one example: if AUD/JPY, AUD/USD, CAD/JPY, USD/CAD all set up at the same time (as they did, along with a few other pairs on 6/19/20 9:00 AM), can you really say that those are all the same underlying movement? There are correlations between the different correlations, and trying to filter for that seems rough. Although maybe this is a known thing, I'm still pretty green to Forex - someone please enlighten me if so! I might have to look into this more statistically, but it would be pretty complex to analyze quantitatively, so for now I'm going with my gut and just taking a few of the "best" trades out of the handful. Overall, I'm really glad I went further on this. The boosting of the B/E strategies makes me trust my calculations on those more since they aren't so far from the passive management like they were with the raw data, and that really had me wondering what I did wrong.
What I will trade
Putting all this together, I am going to attempt to trade the following(demo for a bit to make sure I have the hang of it, then for keeps):
"System Details" I described above.
TP at -161.8%
Static SL at opposite side of confirmation candle - I won't move stops up to breakeven.
Trade only 7am-11am and 4pm-11pm signals.
Nothing where spread is more than 25% of trade width.
Looking at the data for these rules, test results are:
Adjusted Proft % (takes spread into account): 47.43%
I'll be sure to let everyone know how it goes!
Other Technical Details
ATR is only slightly elevated in this date range from historical levels, so this should fairly closely represent reality even after the COVID volatility leaves the scalpers sad and alone.
The sample size is much too small for anything really meaningful when you slice by hour or pair. I wasn't particularly looking to test a specific pair here - just the system overall as if you were going to trade it on all pairs with a reasonable spread.
Here's the spreadsheet for anyone that'd like it. (EDIT: Updated some of the setups from the last few days that have fully played out now. I also noticed a few typos, but nothing major that would change the overall outcomes. Regardless, I am currently reviewing every trade to ensure they are accurate.UPDATE: Finally all done. Very few corrections, no change to results.) I have some explanatory notes below to help everyone else understand the spiraled labyrinth of a mind that put the spreadsheet together.
I'm on the East Coast in the US, so the timestamps are Eastern time.
Time stamp is from the confirmation candle, not the indecision candle. So 7am would mean the indecision candle was 6:00-6:59 and the confirmation candle is 7:00-7:59 and you'd put in your order at 8:00.
I found a couple AM/PM typos as I was reviewing the data, so let me know if a trade doesn't make sense and I'll correct it.
Insanely detailed spreadsheet notes
For you real nerds out there. Here's an explanation of what each column means:
Pair - duh
Date/Time - Eastern time, confirmation candle as stated above
Win to -61.8%? - whether the trade made it to the -61.8% TP level before it hit the original SL.
Win to -100%? - whether the trade made it to the -100% TP level before it hit the original SL.
Win to -161.8%? - whether the trade made it to the -161.8% TP level before it hit the original SL.
Retracement level between -61.8% and -100% - how deep the price retraced after hitting -61.8%, but before hitting -100%. Be careful to look for the negative signs, it's easy to mix them up. Using the fib% levels defined in ParallaxFX's original thread. A plain hyphen "-" means it did not retrace, but rather went straight through -61.8% to -100%. Positive 100 means it hit the original SL.
Retracement level between -100% and -161.8% - how deep the price retraced after hitting -100%, but before hitting -161.8%. Be careful to look for the negative signs, it's easy to mix them up. Using the fib% levels defined in ParallaxFX's original thread. A plain hyphen "-" means it did not retrace, but rather went straight through -100% to -161.8%. Positive 100 means it hit the original SL.
Trade Width(Pips) - the size of the confirmation candle, and thus the "width" of your trade on which to determine position size, draw fib levels, etc.
Loser saved by 2 candle stop? - for all losing trades, whether or not the 2-candle stop loss would have saved the trade and how far it ended up getting if so. "No" means it didn't save it, N/A means it wasn't a losing trade so it's not relevant.
Spread(ThinkorSwim) - these are typical spreads for these pairs on ToS.
Spread % of Width - How big is the spread compared to the trade width? Not used in any calculations, but interesting nonetheless.
True Risk(Trade Width + Spread) - I set my SL at the opposite side of the confirmation candle knowing that I'm actually exposing myself to slightly more risk because of the spread(stop order = market order when submitted, so you pay the spread). So this tells you how many pips you are actually risking despite the Trade Width. I prefer this over setting the stop inside from the edge of the candle because some pairs have a wide spread that would mess with the system overall. But also many, many of these trades retraced very nearly to the edge of the confirmation candle, before ending up nicely profitable. If you keep your risk per trade at 1%, you're talking a true risk of, at most, 1.25% (in worst-case scenarios with the spread being 25% of the trade width as I am going with above).
Win or Loss in %(1% risk) including spread TP -61.8% - not going to go into huge detail, see the spreadsheet for calculations if you want. But, in a nutshell, if the trade was a win to 61.8%, it returns a positive # based on 61.8% of the trade width, minus the spread. Otherwise, it returns the True Risk as a negative. Both normalized to the 1% risk you started with.
Win or Loss in %(1% risk) including spread TP -100% - same as the last, but 100% of Trade Width.
Win or Loss in %(1% risk) including spread TP -161.8% - same as the last, but 161.8% of Trade Width.
Win or Loss in %(1% risk) including spread TP -100%, and move SL to breakeven at 61.8% - uses the retracement level columns to calculate profit/loss the same as the last few columns, but assuming you moved SL to 0% fib level after price hit -61.8%. Then full TP at 100%.
Win or Loss in %(1% risk) including spread take off half of position at -61.8%, move SL to breakeven, TP 100% - uses the retracement level columns to calculate profit/loss the same as the last few columns, but assuming you took of half the position and moved SL to 0% fib level after price hit -61.8%. Then TP the remaining half at 100%.
Overall Growth(-161.8% TP, 1% Risk) - pretty straightforward. Assuming you risked 1% on each trade, what the overall growth level would be chronologically(spreadsheet is sorted by date).
Based on the reasonable rules I discovered in this backtest:
Date range: 6/11-7/3
Adjusted Proft % (takes spread into account): 47.43%
Demo Trading Results
Since this post, I started demo trading this system assuming a 5k capital base and risking ~1% per trade. I've added the details to my spreadsheet for anyone interested. The results are pretty similar to the backtest when you consider real-life conditions/timing are a bit different. I missed some trades due to life(work, out of the house, etc), so that brought my total # of trades and thus overall profit down, but the winrate is nearly identical. I also closed a few trades early due to various reasons(not liking the price action, seeing support/resistance emerge, etc). A quick note is that TD's paper trade system fills at the mid price for both stop and limit orders, so I had to subtract the spread from the raw trade values to get the true profit/loss amount for each trade. I'm heading out of town next week, then after that it'll be time to take this sucker live!
Date range: 7/9-7/30
Adjusted Proft % (takes spread into account): 20.73%
Starting Balance: $5,000
Ending Balance: $6,036.51
Live Trading Results
I started live-trading this system on 8/10, and almost immediately had a string of losses much longer than either my backtest or demo period. Murphy's law huh? Anyways, that has me spooked so I'm doing a longer backtest before I start risking more real money. It's going to take me a little while due to the volume of trades, but I'll likely make a new post once I feel comfortable with that and start live trading again.
Creating a blog couldn’t be easier and yet more complicated in 2020. There are so many different things to think about, and yet so many different platforms you can use to streamline the process. Understandably you’ll already have an idea of what you want to write about, I, unfortunately, can’t help you with that, but what I can do is show you how you can set up a killer blog that will drive readers to your website. We’ll take you through what you’ll need to get started, our five steps to setting your blog up, the best blogging platforms to use, how to get your blog discovered, and the do’s and don’ts of blogging. But first, we need to establish what type of blog you want to set up.
What type of blog?
Firstly you’ll want to have a goal in mind. What are you aiming to achieve through your blog? Do you want to pull in more users to your sales pages by writing about your brand, to increase its publicity? Do you want to build a blog that promotes brands and products from other companies? Or do you just want to set up a blog documenting your travels around the world? In order to pick the right software for you, you’ll want to have a grasp before you start of how big this blog is going to be, whether you’re going to monetize it, and what type of blog it’s going to become. For example, if you’re planning on building an affiliate blogging programme, where you promote other brand’s products and call readers to action to but the products, you’ll be writing a lot of content and will benefit from having a more comprehensive blogging system with lots of plugins to promote sales. But if you’re looking to just set up a personal, or a personal brand blog talking about yourself and your brand, you may not perhaps need as many comprehensive features as you would if you were building an affiliate blog. You may also want to build an online portfolio of your work, which could require an entirely different piece of blogging kit, as opposed to the traditional blog that hosts articles and journals.
What you’ll need to get started.
There are 3 key things you’ll need to get up and running.
A blogging platform.
After you’ve identified the type of blog you want to set up, plus whether you’re going to make money from it, you’ll then need to pick a blogging platform tailored to your needs. Many people chose to operate on WordPress as it is one of the most comprehensive blogging systems going, but they forget platforms like Wix and Squarespace that are great for both helping you save and make money and are great options for those who are less tech-savvy and are new to the blogging game. Plus if you’re blogging for business, you might want to think about using LinkedIn for your business blog. We’ll go into more detail on what blogging platforms are best for your needs shortly, but make sure to keep in mind your objectives and technical experience when choosing the right platform for you.
A hosting platform.
Every website needs a web host to store their website’s information on the internet. A web host is an online service provider that will store your website’s information on one of its online servers. This will put your blog out there to the world. The best web hosts will perform a variety of functions for you, for example, Wix is an all-in-one package that will host your website for you, allow you to register a domain name, and has easy to use website design tools to help you start your blog. Web hosting can be expensive though so make sure you pick the best value for money host that can cater to the amount of traffic you have running through your website. Check out our post on the 11 best hosting providers. [Insert blog link here]
A domain name.
I’m sure by now you already know what sort of blog you want to set up, whether that’s a travel, blog, a blog accompanying your online store, or perhaps an affiliate marketing product review blog. You’ll have a niche and an idea and now all you need is a name. Every website online has what’s called a domain name. It’s included in the website address at the top of your search bar, for example, our domain name is www.digitalsupermarket.com. You’ll need to register a domain name after you purchase a hosting plan, to enable customers to find your site quickly and easily. One good tip is to find a hosting platform like Bluehost or GoDaddy that will provide you with a free domain name when you register for one of their web hosting plans as domain registration can be fairly pricey. Pick a great domain name that is easy for customers to read and type into Google so they can find it easier online. TOP TIP: To increase your blog’s search engine ranking, and to help more people find you on Google, try to pick a domain name that has either a .com or .co.uk ending. These domains often rank a lot higher in Google searches than .org’s, .net’s, and .info’s, and for that reason can be slightly more expensive, yet can help boost your site’s reach and credibility.
The Best Blogging Platforms For You.
There are a wealth of platforms out there catering to all your blogging or online portfolio needs. We have listed some of the main ones below shedding some light on what needs they service and why they might be a great option for you.
WordPress - The best software to give you full customisation.
WordPress is perhaps one of the most renowned blogging platforms in the world, running approximately 35% of the internet. It’s favoured highly by professional bloggers because it gives you total freedom to do whatever you want with your blog. WordPress can help you build your blog using one if its search engine optimised themes, you can customise using its drag and drop website builder tool to create a stunning blog. What’s more, is you’ll be able to use its professional blogging service to post your content online and take advantage of the hundreds of third party app plugins, you can integrate into your blog, to improve automation, add new features, and drive traffic to your site. The only downside of WordPress is that it can be quite technical and can take some time getting used to, but once you’ve got the hang of things, you’ll have great control over everything on your webpage. Pros: Cons:
Domain name registration
Tons of third-party plugins and apps
Technical and can take some getting used to
Not the best if you’re not tech-savvy or are just starting out.
Wix - Best for monetizing your site.
Wix is probably the most streamlined and easiest blog providers. It’s so simple and easy to use, it’s therefore great for anyone just starting out in the blogging world. You can customise one of its stunning templates with Wix’s drag and drop editor, and then upload blog posts to your site by slotting in pictures, gifs, social media buttons, sidebars, and other widgets that will help your blog stand out. One of the coolest features about Wix is its marketplace integration, where you can install a whole variety of third-party applications to your blog to provide your users with greater features and usability. Wix is the perfect all-in-one blogging solution to help you easily build a platform to amplify your business to the world, helping you to make more money, but it can also save you a lot of money as it’s cost-efficient plans roll up, web hosting, blog posting, and domain registration all into one product! Check out our Wix review and our comparison of Wix and Squarespace for a deep dive into Wix’s main blogging features. [Insert link here] Pros: Cons:
Streamlined and easy to use blogging software
Includes as a package, web building tools, domain registration, and web hosting
Tons of third-party plugins and apps on the Wix marketplace
Great platform to help make money and save money on its reasonably priced subscription plans
Don’t get the same full control as you see with WordPress
Locked into using Wix’s templates.
Squarespace - Best for creating visually stunning blogs.
Squarespace is very similar to Wix, in that it is an all-in-one web building and blogging platform that can help you build a blog you can monetize efficiently. It sets itself aside though through its better design and customisation features, making it one of the best platforms on the marketing if you’re looking to design a visually aesthetic blog. I’d recommend using this platform if you are a business operating in some sort of design, arts, or culinary industry. Although it offers minimal template options, Squarespace’s templates are works of art and offer you great customization when building your blog. Plus Squarespace offers a great blogging tool that lets you schedule posts and customize your blog to suit more mobile audiences. Pros: Cons:
Streamlined and easy to use blogging software
Can build a visually stunning blog on Squarespace with its streamlined tools
Excellent blogging features
All-in-one web host, domain registrar, and web builder
Can’t add third-party applications on Squarespace
LinkedIn - Best for blogging businesses.
Aside from setting up a blog on your own site, corporate entities can use LinkedIn to enhance and amplify their presence online. LinkedIn has more than 575 million users, most of whom are professionals and members of corporate conglomerates, and you can use this social platform to target some of the most influential people in the world. If you’re blogging about business this is the perfect platform to use a pre-existing community of people to enhance your social standing. You’ll then be able to build connections and followers on your profile who can easily share your blog on their platform through a couple of simple clicks. Pros: Cons:
Utilise LinkedIn’s pre-existing community of business people to amplify your brand
Target corporate directors and influential people directly through LinkedIn
Check out what people are looking at on LinkedIn and tailor your content to that market
Again you are confined within what LinkedIn’s platform will let you do, it’s not your site and you don’t have full customisation
Instagram - Best for the Artists.
Instagram is one of the biggest blogging sites in the world and without realising it, we are all technically bloggers in some way with our Instagram accounts, right? Ultimately for professional use, it is great for building a portfolio that has some form of visual or graphic eye-catching media around it. Instagram lets you post videos, photos, boomerangs, even write a blog in the photo’s caption if you wanted to! Best of all, Instagram is free, and you can use its business software to link up your online store, to drag users away from your profile, using its product tagging features, and land them in your online checkouts. Our top tip for using Instagram is to post regularly and keep on the theme of your blog. Don’t go off-piste as you’re followers will catch on quickly and unfollow you. And with 1 billion people using the platform each day, it is a great way to gain people’s attention and build your brand’s presence online. Pros: Cons:
Best for the creatives.
Totally free and easy to use interface.
Access to a pre-existing community of people.
Online selling capabilities.
Again you are confined within what Instagram’s platform will let you do, it’s not your site and you don’t have full customisation
The Do’s And Don’ts Of Blogging
Here are a couple of top tips to bear in mind when building your blog to help you create an awesome, lead driven platform.
Don’t use complicated language too soon.
With that in mind, do include language that your target audience will understand. But remember they are still here to learn, so don’t drop people in at the deep end right away by using complex jargon off the bat. Define terms and spell it out in layman’s terms for people at the outset, and as the post goes on, then introduce more complex writing. Introducing technical jargon at the start of your posts is an instant turn off for most readers.
Don’t waffle - Keep it succinct.
People want to get to the punchline now. 43% of people admit to skimming through blogs to get to the information they need, meaning to get your blogging site converting leads, you need to engage the reader early on and offer information succinctly throughout your post. Plus don’t make your blog too long. Depending on what you’re writing, a lot of people will see large volumes of text and will switch off immediately. There is no set limit for what a good and bad amount of text is, that’s something you’ll have to figure out per your industry, but from my experience, the shorter, the better.
Don’t make headlines too long.
Also ensure that your headline is not more than 60 characters long. If it gets too long it won’t rank well in search engines and people just won’t want to read it. Check out this headline analysis tool which will analyse the effectiveness of your proposed headlines.
Don’t plagiarise or use credited images.
Copying other people’s work is lazy and can land you in a lot of hot water in extreme cases if you breach a copyright regulation. But it’s also just unfair on the person who has worked hard or been creative to write that work. The same goes for images, people need to make a living from the content and photos they’re taking so don’t steal that off them.
Do write killer headlines.
People are like goldfish. You only have about 3 seconds to get their attention. That’s why it is important to write catchy, funny, and enticing headlines to draw your reader in. One good way to do it is to use the “How To” and “10 Best” strategies. These sorts of titles telling people ‘How to set up a blog’ or ‘the ten best web hosting platforms’ are search engine optimised, lead winning titles that rank highly in Google searches. Try them out and see!
Do post regularly.
The key to creating a great blog that builds leads is posting regularly. Although it is not the best idea to post regularly. Ideally, you want to post 3-4 times a week to get the best influx of traffic to your site. You’ll also want to check out when’s best to post for your target audience, for example, if you’re in the FOREX market, you’ll want to post your blogs perhaps at 8 AM, before the markets open when city workers are on their staring at their phones on their morning commuter trains to the city.
Do share on social media.
Share your content far and wide on your social platforms. Everyone is on social media these days and its outreach is simply phenomenal. That’s why you should always share your posts to your social channels to get greater traffic on your website, and include share buttons all-around your blog to invite your readers to share your articles too!
Do use SEO keywords to drive more traffic.
In a nutshell, SEO keywords are the phrases people put into search engines when they are looking for information on a certain subject. They are how you get found on your website. Depending on what you are writing about, there is always a set of keywords relating to that topic that you can implement, to help you show up higher in people’s google searches. For example, people might regularly search in google, ‘what is the best compost for growing sunflowers?’ When you come to writing about growing sunflowers in your blog, you might want to use these words or incorporate this question into your blog somewhere, to help you rank higher on Google.
Do use call’s to action to take your readers to the next step.
If you don’t challenge your reader at the end of your blog to follow you on Instagram, or check out your sales pages, you’ll never get the leads or sales you are looking for. With that in mind, build compelling calls to action at the end of each of your posts, to pull readers into taking the next step. Check out our post on landing pages to see a couple of cool ways on how to implement calls to action on your site [insert link here].
Do identify a target audience.
People will often tell you to write as though you were in the shoes of the person you’re looking to bring to your website, but it’s true! Identify what type of people you’re writing to, for instance, if you’re writing a business blog about FOREX trading, you’ll write with potential traders in mind who have one eye on the stock market and the other on your blog. Or if you’re a wedding florist, you’ll set your portfolio up to target those people looking to get married in the next year.
Leads, Sales, Results.
Blogging is one of the most influential marketing strategies in the world and the best bloggers can reap some awesome rewards for producing some truly awesome content. It is fairly straightforward to get started and we advise if you’re a small business, or someone with minimal blogging experience, to try out Wix or Squarespace first before you jump into using more technical platforms like WordPress. Once you’re up and running remember our top tips on what to do and what to avoid when writing your blog. Plus don’t forget to think about optimising and adding useful applications to your site to help you build and grow your content. Check out these 39 awesome blogging tools you can use to drive greater traffic to your site! Found this article useful? Make sure you share it with your friends on Facebook and Twitter and let us know in the comments if you have any other useful blogging tips.
No, the British did not steal $45 trillion from India
This is an updated copy of the version on BadHistory. I plan to update it in accordance with the feedback I got. I'd like to thank two people who will remain anonymous for helping me greatly with this post (you know who you are) Three years ago a festschrift for Binay Bhushan Chaudhuri was published by Shubhra Chakrabarti, a history teacher at the University of Delhi and Utsa Patnaik, a Marxist economist who taught at JNU until 2010. One of the essays in the festschirt by Utsa Patnaik was an attempt to quantify the "drain" undergone by India during British Rule. Her conclusion? Britain robbed India of $45 trillion (or £9.2 trillion) during their 200 or so years of rule. This figure was immensely popular, and got republished in several major news outlets (here, here, here, here (they get the number wrong) and more recently here), got a mention from the Minister of External Affairs & returns 29,100 results on Google. There's also plenty of references to it here on Reddit. Patnaik is not the first to calculate such a figure. Angus Maddison thought it was £100 million, Simon Digby said £1 billion, Javier Estaban said £40 million see Roy (2019). The huge range of figures should set off some alarm bells. So how did Patnaik calculate this (shockingly large) figure? Well, even though I don't have access to the festschrift, she conveniently has written an article detailing her methodology here. Let's have a look.
How exactly did the British manage to diddle us and drain our wealth’ ? was the question that Basudev Chatterjee (later editor of a volume in the Towards Freedom project) had posed to me 50 years ago when we were fellow-students abroad.
This is begging the question.
After decades of research I find that using India’s commodity export surplus as the measure and applying an interest rate of 5%, the total drain from 1765 to 1938, compounded up to 2016, comes to £9.2 trillion; since $4.86 exchanged for £1 those days, this sum equals about $45 trillion.
This is completely meaningless. To understand why it's meaningless consider India's annual coconut exports. These are almost certainly a surplus but the surplus in trade is countered by the other country buying the product (indeed, by definition, trade surpluses contribute to the GDP of a nation which hardly plays into intuitive conceptualisations of drain). Furthermore, Dewey (2019) critiques the 5% interest rate.
She [Patnaik] consistently adopts statistical assumptions (such as compound interest at a rate of 5% per annum over centuries) that exaggerate the magnitude of the drain
The exact mechanism of drain, or transfers from India to Britain was quite simple.
Drain theory possessed the political merit of being easily grasped by a nation of peasants. [...] No other idea could arouse people than the thought that they were being taxed so that others in far off lands might live in comfort. [...] It was, therefore, inevitable that the drain theory became the main staple of nationalist political agitation during the Gandhian era.
The key factor was Britain’s control over our taxation revenues combined with control over India’s financial gold and forex earnings from its booming commodity export surplus with the world. Simply put, Britain used locally raised rupee tax revenues to pay for its net import of goods, a highly abnormal use of budgetary funds not seen in any sovereign country.
The issue with figures like these is they all make certain methodological assumptions that are impossible to prove. From Roy in Frankema et al. (2019):
the "drain theory" of Indian poverty cannot be tested with evidence, for several reasons. First, it rests on the counterfactual that any money saved on account of factor payments abroad would translate into domestic investment, which can never be proved. Second, it rests on "the primitive notion that all payments to foreigners are "drain"", that is, on the assumption that these payments did not contribute to domestic national income to the equivalent extent (Kumar 1985, 384; see also Chaudhuri 1968). Again, this cannot be tested. [...] Fourth, while British officers serving India did receive salaries that were many times that of the average income in India, a paper using cross-country data shows that colonies with better paid officers were governed better (Jones 2013).
Indeed, drain theory rests on some very weak foundations. This, in of itself, should be enough to dismiss any of the other figures that get thrown out. Nonetheless, I felt it would be a useful exercise to continue exploring Patnaik's take on drain theory.
The East India Company from 1765 onwards allocated every year up to one-third of Indian budgetary revenues net of collection costs, to buy a large volume of goods for direct import into Britain, far in excess of that country’s own needs.
So what's going on here? Well Roy (2019) explains it better:
Colonial India ran an export surplus, which, together with foreign investment, was used to pay for services purchased from Britain. These payments included interest on public debt, salaries, and pensions paid to government offcers who had come from Britain, salaries of managers and engineers, guaranteed profts paid to railway companies, and repatriated business profts. How do we know that any of these payments involved paying too much? The answer is we do not.
So what was really happening is the government was paying its workers for services (as well as guaranteeing profits - to promote investment - something the GoI does today Dalal (2019), and promoting business in India), and those workers were remitting some of that money to Britain. This is hardly a drain (unless, of course, Indian diaspora around the world today are "draining" it). In some cases, the remittances would take the form of goods (as described) see Chaudhuri (1983):
It is obvious that these debit items were financed through the export surplus on merchandise account, and later, when railway construction started on a large scale in India, through capital import. Until 1833 the East India Company followed a cumbersome method in remitting the annual home charges. This was to purchase export commodities in India out of revenue, which were then shipped to London and the proceeds from their sale handed over to the home treasury.
While Roy's earlier point argues better paid officers governed better, it is honestly impossible to say what part of the repatriated export surplus was a drain, and what was not. However calling all of it a drain is definitely misguided. It's worth noting that Patnaik seems to make no attempt to quantify the benefits of the Raj either, Dewey (2019)'s 2nd criticism:
she [Patnaik] consistently ignores research that would tend to cut the economic impact of the drain down to size, such as the work on the sources of investment during the industrial revolution (which shows that industrialisation was financed by the ploughed-back profits of industrialists) or the costs of empire school (which stresses the high price of imperial defence)
Since tropical goods were highly prized in other cold temperate countries which could never produce them, in effect these free goods represented international purchasing power for Britain which kept a part for its own use and re-exported the balance to other countries in Europe and North America against import of food grains, iron and other goods in which it was deficient.
Re-exports necessarily adds value to goods when the goods are processed and when the goods are transported. The country with the largest navy at the time would presumably be in very good stead to do the latter.
The British historians Phyllis Deane and WA Cole presented an incorrect estimate of Britain’s 18th-19th century trade volume, by leaving out re-exports completely. I found that by 1800 Britain’s total trade was 62% higher than their estimate, on applying the correct definition of trade including re-exports, that is used by the United Nations and by all other international organisations.
While interesting, and certainly expected for such an old book, re-exporting necessarily adds value to goods.
When the Crown took over from the Company, from 1861 a clever system was developed under which all of India’s financial gold and forex earnings from its fast-rising commodity export surplus with the world, was intercepted and appropriated by Britain. As before up to a third of India’s rising budgetary revenues was not spent domestically but was set aside as ‘expenditure abroad’.
So, what does this mean? Britain appropriated all of India's earnings, and then spent a third of it aboard? Not exactly. She is describing home charges see Roy (2019) again:
Some of the expenditures on defense and administration were made in sterling and went out of the country. This payment by the government was known as the Home Charges. For example, interest payment on loans raised to finance construction of railways and irrigation works, pensions paid to retired officers, and purchase of stores, were payments in sterling. [...] almost all money that the government paid abroad corresponded to the purchase of a service from abroad. [...] The balance of payments system that emerged after 1800 was based on standard business principles.India bought something and paid for it.State revenues were used to pay for wages of people hired abroad, pay for interest on loans raised abroad, and repatriation of profits on foreign investments coming into India. These were legitimate market transactions.
Indeed, if paying for what you buy is drain, then several billions of us are drained every day.
The Secretary of State for India in Council, based in London, invited foreign importers to deposit with him the payment (in gold, sterling and their own currencies) for their net imports from India, and these gold and forex payments disappeared into the yawning maw of the SoS’s account in the Bank of England.
It should be noted that India having two heads was beneficial, and encouraged investment per Roy (2019):
The fact that the India Office in London managed a part of the monetary system made India creditworthy, stabilized its currency, and encouraged foreign savers to put money into railways and private enterprise in India. Current research on the history of public debt shows that stable and large colonies found it easier to borrow abroad than independent economies because the investors trusted the guarantee of the colonist powers.
Against India’s net foreign earnings he issued bills, termed Council bills (CBs), to an equivalent rupee value. The rate (between gold-linked sterling and silver rupee) at which the bills were issued, was carefully adjusted to the last farthing, so that foreigners would never find it more profitable to ship financial gold as payment directly to Indians, compared to using the CB route. Foreign importers then sent the CBs by post or by telegraph to the export houses in India, that via the exchange banks were paid out of the budgeted provision of sums under ‘expenditure abroad’, and the exporters in turn paid the producers (peasants and artisans) from whom they sourced the goods.
Sunderland (2013) argues CBs had two main roles (and neither were part of a grand plot to keep gold out of India):
Council bills had two roles. They firstly promoted trade by handing the IO some control of the rate of exchange and allowing the exchange banks to remit funds to India and to hedge currency transaction risks. They also enabled the Indian government to transfer cash to England for the payment of its UK commitments.
The United Nations (1962) historical data for 1900 to 1960, show that for three decades up to 1928 (and very likely earlier too) India posted the second highest merchandise export surplus in the world, with USA in the first position. Not only were Indians deprived of every bit of the enormous international purchasing power they had earned over 175 years, even its rupee equivalent was not issued to them since not even the colonial government was credited with any part of India’s net gold and forex earnings against which it could issue rupees. The sleight-of-hand employed, namely ‘paying’ producers out of their own taxes, made India’s export surplus unrequited and constituted a tax-financed drain to the metropolis, as had been correctly pointed out by those highly insightful classical writers, Dadabhai Naoroji and RCDutt.
It doesn't appear that others appreciate their insight Roy (2019):
K. N. Chaudhuri rightly calls such practice ‘confused’ economics ‘coloured by political feelings’.
Surplus budgets to effect such heavy tax-financed transfers had a severe employment–reducing and income-deflating effect: mass consumption was squeezed in order to release export goods. Per capita annual foodgrains absorption in British India declined from 210 kg. during the period 1904-09, to 157 kg. during 1937-41, and to only 137 kg by 1946.
If even a part of its enormous foreign earnings had been credited to it and not entirely siphoned off, India could have imported modern technology to build up an industrial structure as Japan was doing.
This is, unfortunately, impossible to prove. Had the British not arrived in India, there is no clear indication that India would've united (this is arguably more plausible than the given counterfactual1). Had the British not arrived in India, there is no clear indication India would not have been nuked in WW2, much like Japan. Had the British not arrived in India, there is no clear indication India would not have been invaded by lizard people, much like Japan. The list continues eternally. Nevertheless, I will charitably examine the given counterfactual anyway. Did pre-colonial India have industrial potential? The answer is a resounding no. From Gupta (1980):
This article starts from the premise that while economic categories - the extent of commodity production, wage labour, monetarisation of the economy, etc - should be the basis for any analysis of the production relations of pre-British India, it is the nature of class struggles arising out of particular class alignments that finally gives the decisive twist to social change. Arguing on this premise, and analysing the available evidence, this article concludes that there was little potential for industrial revolution before the British arrived in India because, whatever might have been the character of economic categories of that period,the class relations had not sufficiently matured to develop productive forces and the required class struggle for a 'revolution' to take place.
Yet all of this did not amount to an economic situation comparable to that of western Europe on the eve of the industrial revolution. Her technology - in agriculture as well as manufacturers - had by and large been stagnant for centuries. [...] The weakness of the Indian economy in the mid-eighteenth century, as compared to pre-industrial Europe was not simply a matter of technology and commercial and industrial organization. No scientific or geographical revolution formed part of the eighteenth-century Indian's historical experience. [...] Spontaneous movement towards industrialisation is unlikely in such a situation.
So now we've established India did not have industrial potential, was India similar to Japan just before the Meiji era? The answer, yet again, unsurprisingly, is no. Japan's economic situation was not comparable to India's, which allowed for Japan to finance its revolution. From Yasuba (1986):
All in all, the Japanese standard of living may not have been much below the English standard of living before industrialization, and both of them may have been considerably higher than the Indian standard of living. We can no longer say that Japan started from a pathetically low economic level and achieved a rapid or even "miraculous" economic growth. Japan's per capita income was almost as high as in Western Europe before industrialization, and it was possible for Japan to produce surplus in the Meiji Period to finance private and public capital formation.
The circumstances that led to Meiji Japan were extremely unique. See Tomlinson (1985):
Most modern comparisons between India and Japan, written by either Indianists or Japanese specialists, stress instead that industrial growth in Meiji Japan was the product of unique features that were not reproducible elsewhere. [...] it is undoubtably true that Japan's progress to industrialization has been unique and unrepeatable
So there you have it. Unsubstantiated statistical assumptions, calling any number you can a drain & assuming a counterfactual for no good reason gets you this $45 trillion number. Hopefully that's enough to bury it in the ground. 1. Several authors have affirmed that Indian identity is a colonial artefact. For example seeRajan 1969:
Perhaps the single greatest and most enduring impact of British rule over India is that it created an Indian nation, in the modern political sense. After centuries of rule by different dynasties overparts of the Indian sub-continent, and after about 100 years of British rule, Indians ceased to be merely Bengalis, Maharashtrians,or Tamils, linguistically and culturally.
But then, it would be anachronistic to condemn eighteenth-century Indians, who served the British, as collaborators, when the notion of 'democratic' nationalism or of an Indian 'nation' did not then exist.[...]Indians who fought for them, differed from the Europeans in having a primary attachment to a non-belligerent religion, family and local chief, which was stronger than any identity they might have with a more remote prince or 'nation'.
Chakrabarti, Shubra & Patnaik, Utsa (2018). Agrarian and other histories: Essays for Binay Bhushan Chaudhuri. Colombia University Press Hickel, Jason (2018). How the British stole $45 trillion from India. The Guardian Bhuyan, Aroonim & Sharma, Krishan (2019). The Great Loot: How the British stole $45 trillion from India. Indiapost Monbiot, George (2020). English Landowners have stolen our rights. It is time to reclaim them. The Guardian Tsjeng, Zing (2020). How Britain Stole $45 trillion from India with trains | Empires of Dirt. Vice Chaudhury, Dipanjan (2019). British looted $45 trillion from India in today’s value: Jaishankar. The Economic Times Roy, Tirthankar (2019). How British rule changed India's economy: The Paradox of the Raj. Palgrave Macmillan Patnaik, Utsa (2018). How the British impoverished India. Hindustan Times Tuovila, Alicia (2019). Expenditure method. Investopedia Dewey, Clive (2019). Changing the guard: The dissolution of the nationalist–Marxist orthodoxy in the agrarian and agricultural history of India. The Indian Economic & Social History Review Chandra, Bipan et al. (1989). India's Struggle for Independence, 1857-1947. Penguin Books Frankema, Ewout & Booth, Anne (2019). Fiscal Capacity and the Colonial State in Asia and Africa, c. 1850-1960. Cambridge University Press Dalal, Sucheta (2019). IL&FS Controversy: Centre is Paying Up on Sovereign Guarantees to ADB, KfW for Group's Loan. TheWire Chaudhuri, K.N. (1983). X - Foreign Trade and Balance of Payments (1757–1947). Cambridge University Press Sunderland, David (2013). Financing the Raj: The City of London and Colonial India, 1858-1940. Boydell Press Dewey, Clive (1978). Patwari and Chaukidar: Subordinate officials and the reliability of India’s agricultural statistics. Athlone Press Smith, Lisa (2015). The great Indian calorie debate: Explaining rising undernourishment during India’s rapid economic growth. Food Policy Duh, Josephine & Spears, Dean (2016). Health and Hunger: Disease, Energy Needs, and the Indian Calorie Consumption Puzzle. The Economic Journal Vankatesh, P. et al. (2016). Relationship between Food Production and Consumption Diversity in India – Empirical Evidences from Cross Section Analysis. Agricultural Economics Research Review Gupta, Shaibal (1980). Potential of Industrial Revolution in Pre-British India. Economic and Political Weekly Raychaudhuri, Tapan (1983). I - The mid-eighteenth-century background. Cambridge University Press Yasuba, Yasukichi (1986). Standard of Living in Japan Before Industrialization: From what Level did Japan Begin? A Comment. The Journal of Economic History Tomblinson, B.R. (1985). Writing History Sideways: Lessons for Indian Economic Historians from Meiji Japan. Cambridge University Press Rajan, M.S. (1969). The Impact of British Rule in India. Journal of Contemporary History Bryant, G.J. (2000). Indigenous Mercenaries in the Service of European Imperialists: The Case of the Sepoys in the Early British Indian Army, 1750-1800. War in History
In this review, we are taking a look at a trading platform that is used by traders all around the world. BrokerXP offers a varied range of financial products with competitive fees and an easy-to-use trading interface. With advanced trading tools and charting features. BrokerXP Slogan
If trading fees are important to you, then BrokerXP has you covered. BrokerXP offers low spreads that are available to all customers. For forex traders, BrokerXP has no fees at all, this means that you can maximize profits when trading currency pairs. The broker also offers a guaranteed stop-loss order which Is when clients get their stop-loss order rate guaranteed when setting a risk threshold in their position. BrokerXP also offers a 200:1 leverage ratio, which means that for every $1 in your account, you control $200 in the market. So if you are trading and don’t have much capital, you can still generate significant income as your profits can be multiplied by 200x. However, if you are a beginner then it is not advised that you use leverage on your trades. As profits are multiplied, so are losses. Before leveraging, learn the basics and trade using a demo account as this can stop you from losing too much money when you start trading actual capital.
MT4 and BrokerXP have end-to-end encryption that secures trades and funds that are within the trading account itself. Imagine your trading account like a debit card, you wouldn’t put thousands of dollars in your debit card and leave it on a park bench. So when choosing what trading platform you want to go with, make sure that they take the security of your account and funds are serious as you do. To find more answers please watch this video https://www.youtube.com/watch?v=VyMdFz8Rh18
MetaTrader 4 is seen as the flagship trading platform, used by individual traders at home and large institutional investors alike. The platform is available on iPads, iPhones, Android phones, Android tablets, and just about any other web-enabled device. If you want to use the desktop version, instead of the web-app version, then you can download the desktop version and trade from the version. Once you’ve downloaded or loaded the platform, you can log in using your BrokerXP credentials. You can customize the charting interface, changing between light and dark mode, along with some other interface elements. Like with most online platforms, the security flaws come as a result of the customer not securing their side of things. This means that when you are trading, make sure to use long passwords that are difficult to guess and crack. Also, try and avoid trading on public computers as these can lead to your account being compromised. On MT4 you will notice some phrases on the trading interface, here is some explanation of what they mean. When you see the Symbol tab, this means that you can choose between markets. BrokerXP offers many different trading asset options. You can trade forex, gold, stocks indices, and more. The volume tab is where you decide on your trading size. When you see 1 lot, this is equal to 100,000 units of the base currency. The Type tab is where you decide on your trade execution mode, we advise that you stick to ‘instant execution’ as this will place a trade as soon as your press ‘buy’ or ‘sell’. If you set a ‘pending order’, then the platform will make the trade when the market opens back up. The forex market is open 24/7, so this execution method will rarely be available. Stop-loss is another term that you may see on the MT4 interface, this means that your trades are exited when your profits hit a predetermined point. Depending on what type of trader you are, the platform will offer you a specific set of charting timeframes that best suit you. For example, if you are day trading you may look at charts on a 10-minute timeframe. MT4 offers charting timeframes for 1 minute, 5 minutes, 10 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, 1 day, and 1 month. You can also set custom timeframes in case the standard ones are not suitable for your trading technique. Along with advanced timeframes, MT4 also offers 30 technical indicators such as the Elliot Wave indicator, Bollinger Bands, and pivot points, along with many more. There are also third-party add-ons that can be integrated with the platform in order to customize your interface further. Add-ons like Stealth Orders and Alarm Manager are two of the most popular addons. The first is an extension, Stealth Orders is designed to anonymize trades, with Alarm Manager helping coordinate alerts and notifications. With MT4, you can also create your own extensions using Java API, which is one of the platforms most advantageous features, as it can make everything unique.
BrokerXP Mobile Trading
The MetaTrader 4 mobile app is designed with the main focus being on ease-of-use. The mobile app is packaged with lots of research tools, advanced charts, and watch lists for scanning, with many more features. When using BrokerXP’s mobile trading app (MT4), the look and feel of the mobile app have the same appearance as the web version. This means that if you know to operate the web-based platform, then the mobile app will be easy for you to grasp. With charting, you are given the same charts that are offered on the web app. However, due to the mobile screen being smaller, carrying out advanced forex analysis may be more difficult on mobile devices. But for making orders, setting stop loss or checking basic tasks, the mobile app is more than capable of doing so. The main benefit of using the mobile app is that you can make trades on the go. You no longer have to be at your computer or office in order to set trades. Let’s say that you make a trade at home then go grocery shopping. Whilst you are out you realize that you didn’t set stop-loss in your rush and your pair is depreciating when you check. Now, you can use your mobile to exit a position immediately, you don’t need to wait until you get home.
BrokerXP Customer Service
BrokerXP has a great dedicated customer service team, they are very professional and offer solutions to all of the problems that you could present them with. If you are a new trader, then you may encounter some problems when trying to get to grips with a new trading platform, so BrokerXP offers extensive educational resources. These educational resources are designed to help people familiarise themselves with the platform and all of the financial assets that are available to be traded on the BrokerXP platform. The MT4 platform also has a customer support team that is able to deal with any questions or issues that you are having on the trading side of things. MT4 also has a community section for traders, where questions about trading can get answered. A community forum is a great place for you to get tips about trading and non-essential things that the customer support team may not need to answer. For customer service, you could read here and on this link. To conclude, BrokerXP is one of the best choices for financial asset trading available. Their low fees and advanced features make it perfect for beginners and pros alike. For more reviews, you should visit official reviews on the website, Trustpilot andSitejabber. We highly suggest visiting also on Patch following links for more info and updated news https://patch.com/california/los-angeles/calendaevent/20200929/898131/brokerxp-reviews-are-happening https://patch.com/california/los-angeles/classifieds/announcements/171418/brokerxp-is-having-own-reviews-in-pacific-palisades
Putting business online is one of the crucial things in today’s world. But just going online isn’t enough to reach your target audience; you also need to preserve all sorts of website expertise. You should also concentrate on sophisticated SEO strategies and properly apply them for better productivity. In this technology-prone age, Forex SEO strategies will change the entire forex market scenario to yield better returns. The SEO tactics will change anytime, and the worst thing is that sometimes you have no clue. Search engine optimization research is great to boost the forex platform rankings. Which Forex SEO tactics should you implement in 2018? Review the Top 8 SEO strategies chart below:
Make Your Website Super-Fast Looking at the last five years ‘ forex website design, you will remember how sluggish they were. And now, the situation has changed significantly, focusing more on the speed of mobile browsing relative to desktops and laptops. Forex SEO can be best applied with a super-fast Forex website, as it is also a key factor in rankings.
Maintain Your Website Mobile Friendliness Once combined with mobile optimization, Forex SEO helps build stable links and allows the search process easier and faster. Customers are more familiar with the smartphone, so after Google prioritizes, they see those forex sites that are faster and ranked in top position.
Produce High-Quality Content Forex SEO service continues to be quite spectacular when combined with the appealing, error-free content that contains the targeted keywords. Well-researched quality content is now highly in demand and helps build good, long-term customer relationships.
Update Your Blog It’s important to match the existing content with successful and appropriate improvements to boost organic traffic on your respective forex website. Edit your old content and try adding new posts to your site for improved discussions and results. A blog lets maintain your website and reach your community.
Use of Voice Search Is Impressive Voice search is now in demand, and one of the town’s popular buzzwords. Optimize your forex website with conversational keywords, and use the voice search option to attract a wide audience to your forex website.
A strong social interaction is beneficial Social media helps develop a strong online presence among millions of users. Sharing and handling useful content on social media channels could be beneficial in gaining users ‘ interest, as well as increasing the chances of quality connections.
Switch To Bing and Yahoo Too Google may be called the king of the search engine for your respective Forex SEO. However, at the same time, don’t worry about Bing and Yahoo, which are also considered the top search engines that deliver consumers to your forex page and place you on the list.
Analyze Your User Experience Improving user experience is one of the latest industry phenomena. Therefore, you can improve it by giving users reliable access and assistance that can raise your score.
https://preview.redd.it/81cx1yfe1pm51.jpg?width=474&format=pjpg&auto=webp&s=2ceddeda7d5dc0be5c7d4b4dfa7a715baac65b3a In the later part of websites are the testimonials screaming out loud regarding their success.BitQT review can be quiet judgemental at this point as a result of neither these testimonials prove the legitimacy of the web site nor the live profit reviews account such You extremely want to understand that if you opt to speculate you’ll surely not visiting recover. TheBitQT just prove this by themselves stating it not being on affiliate terms with others. Something that’s claiming that you simply’ll earn 110zero greenbacks every day is doing a true-time scam job Perhaps, theBitQT states advertising itself on Times, CNN and Forbes however neither of them found supportive during this regard. You'll check it all by yourself. This is often the sound proof of its scamming regime throughout the globe It doesn’t have that laser-accurate performance as in trading bitcoin you can never guarantee the minimum amount of profit you be earning the other day. Its what happens when trading with Forex Many of the websites agree onto the proficiency ofBitQT negating the crucial and impactful proves I shared with you higher than. They are saying it’s flawless. Will something be this flawless letting you earn regarding one thousand bucks each day without charging a penny? The automated transactions are known to be deposited directly into the user’s account that is nowhere to find affiliation with. Undoubtedly, most of the revealing sites have the only supportive argument beginning with, ‘As the review suggests’. Do raise yourselves, is that this the legitimate way to prove legitimacy ofBitQT They too argue regarding the legitimate verification method. That’s the explanation why there’s a number of complaints with reference to the current. If these products would have really worked, why not each single person select to remain off from their offices integrating with it somehow: Merely head to the SIGN-UP section on theBitQT site, fill in your personal info, and present your registration. When acknowledged, you'll be able to be able to access our restrictive Bitcoin exchanging To induce your exchange account in progress, you’ll have to include some assets. WithBitQT, you can create a initial investment of as low as $250, although you'll be able to contribute as a lot of as you wantoy Since your enlistment has been acknowledged and you’ve invested some funds, you’re fully done. Simply click on ‘trade’ to receive the rewards ofBitQT’s highly rated algorithm. In case you need a hands-on approach, you can shift to manual operation by changing the settings There’s no harm in trading in terms of cryptocurrency. We have a tendency to’re not against it. But we tend to really aim to reveal the very fact thatBitQT isn't a legitimate website to believe during this case. To actually invest in bitcoin you initially want to shop for a bitcoin wallet so as to store all bitcoins. a series of blockchain integrations which permits you to top-up and earn. But, as stated earlier you’ve no actual guarantee concerning the number you wish to earn. Secondly, you wish to integrate your bitcoin wallet to your account and then you’ll be ready to head towards the foremost step. Here, you’ll jin a bitcoin exchange system for trading bitcoin for any different traditional currencies of the market. It works well solely if you for legitimate sites for functioning and planning. Perhaps, it too needs a nice amount of ability and we never promise you to begin earning when you join Bitcoin Exchanger somehow. This was all aboutBitQT Review as a full fulling the aim of alerting the scam going around. Money Forex Cluster scamThe Cash Forex Group is run by a company named CFxG which allegedly was founded by a team of experts in all kinds of areas, mainly education in the monetary trading field and network promoting. https://preview.redd.it/0gc7ga9f1pm51.jpg?width=474&format=pjpg&auto=webp&s=5c031ac047e635c47d3ee592ab9235878613c890 These experts and their automated trading system will supposedly facilitate your to form heaps of cash. In trading solely you'll allegedly make fifteenp.c weekly on your investments. Then there are referral programs and multi-level structures that can boost your income even more. Is that t Money FX Group scamLet’s begin this Money Forex Group review by stating the obvious, this scheme may be a total scam, you just have to look at the numbers.BitQT When they promise you fifteen%+ weekly, it means that 60percent+ monthly, which is totally ridiculous in the important world. It means a lot of than 560zeropercent per year, therefore you'd need solely $18,00zero greenbacks to become a millionaire within year. And this is often plain impossible. No legitimate business can create you a gradual fifteenpercent weekly, no financial markets are that predictable and that easy to trade. It may appear straightforward to you, but it really is this straightforward, a program promising fifteenp.c weekly should be a scam, there is no alternative method, the Money FX Group is a scam. However there is additional to go through in this review. Massive lies Money FX Cluster testimonialThe Money Forex Cluster claims to be regulated by the subsequent institutions: FAC – Financial Conduct Authority of London, DFSA – Monetary Services Authority in Dubai, FSCA – Monetary Sector Conduct Authority of South Africa and FSA – the Monetary Services Authority of Seychelles. But guess what, the FAC will not even exist, while the others (DFSA, FSCA and FSA) haven't issued any license whatsoever to Cash Forex Cluster. Therefore not only Money FX Group is not regulated at all, it conjointly is lying huge time regarding its regulatory status. The fact is that it's no license whatsoever, so it cannot supply investment services legally in most countries. This is often conjointly why they want you to deposit cryptocurrencies, they wish to remain as anonymous as potential, so that they will run away along with your cash. Regulatory warning Not long when we have a tendency to printed our analysis, the Financial Conduct Authority (financial regulator in Nice Britain) came up with its own warning. The regulator said that CashFX is providing investment services without the mandatory authorization and advised the public to remain off from it. This is often a very serious argumentBiTQT. It'd be terribly unwise to deposit money with an unregulated and basically anonymous entity, as a result of it would not be protected in any means. No matter where the cash finally ends up, this program is promising you impossible returns on investments, which in itself confirms that something is wrong. How it works Let’s end this Cash Forex Group review by explaining the essential principle of this investment program. It's a Ponzi theme that does no real economic activity. It just collects money from individuals and may pay out some profits, but the most recent clients’ deposits can be used for that. This will have an inevitable outcome, the system can sooner or later crumble. It's simply a matter of your time when there can be not enough deposits to hide withdrawals and also the inevitable end can Nobody has not been paid, that is NOBODY ….. after all you can't compound or upgrade your CFX account unless you withdraw (get paid) …. CFX are not regulated…. as a result of they use a Regulated broker (everfx) to trade…so that information is also incorrect…and judging by the actual members comments….I’d say, members are happy….. long might that continue. BUT, you must never place in more than you are prepared to lose (In SOMETHING). However do correct analysis, ask members, don’t rely on people that play safe and stay poor. Do your own due diligence. (ps MOST sites that decision each business out as a scam…have their own links…..promoting guess what ? ….tip. SCAMS ! Beware. https://www.cryptoerapro.com/bitqt/ http://www.cryptoerapro.com/ https://twitter.com/cryptoerapro https://www.instagram.com/cryptoerapro/ https://www.pinterest.co.uk/cryptoerapro/ https://www.facebook.com/cryptoerapro
UNIFICATION | $FUND | The Game Changer | The next big ONE.
https://unification.com/ Header: You can visit and check my profile how much those early birds that read my post gained in my previous calls. There are others who called it first but I re-posted it for project awareness because they are still in low mcap before. $xgm x5 $kai x4 $ring x2 $2key x3 Marketcap: 4.3 million NO ICO NO PRIVATE SALES IEO price: $0.06 https://support.probit.com/hc/en-us/articles/360031772931-Unification-UND-will-launch-IEO-with-ProBit-Exchange Current price: $0.045 A little bit history; Unification or $FUND started as $UND wherein they burned the 88% of their total supply (1billion) and undergo mainnet this past May 14th, swapped $UND to $FUND at 1:1 ratio and considered $UND as a testnet after swapping and, $FUND as their mainnet. https://medium.com/unificationfoundation/the-unification-new-genesis-event-88-of-und-supply-destroyed-37fa56484396?source=collection_home---4------7----------------------- Introduction: Unification is a hybrid public/private blockchain that connects interoperating private WRKchains to a public Mainchain. Any independent entity can deploy useful scaled solution, via WRKchains and exchange data in closed environments. WRKchains can support any DApp/smart contract and may have their own native coin (or not), all while maintaining speed and scalability. Technology: Beacon - Beacons are the best choice for singularly maintained centralized databases that require an element of trust added WrkChains - WRKChains are a Distributed Ledger Technology designed specifically for real-world enterprise and consumer adoption TokenForge - TokenForge is Unification’s WRKChain infrastructure that allows for a consortium marketplace based on tokenization My opinion: For me, this token is such a vast industry. Unification created a solution for enterprises wherein if blockchain will be used in enterprise data operations, it will clogged the network because of heavy loads. And here they are, crafted the WkrChains, it is the fucking perfect solution that world needs. If I compare Neyma to Sergey, they are almost the same, who built the perfect blockchain/token to maximize the usability and scalability of blockchain. Also, Neyma the CEO of $FUND has connections to GOOGLE and RIPPLE. Imagine, private companies, enterprises and Governments will start using WrkChains. As time passess by, $FUND will eventually grow higher and higher and higher. They already have a working WrkChain named as "FinChains", it is a decentralized price oracle developed by Yellow, it is estimated to consume more than 500k to 1million $FUND a year. Imagine, when the adoption phase begin, there are a lot of $FUNDS will be used in utility. I don't care what you say, but for me this project is belong to top 50cmc, for short 100m mc, x37 from here. Worst case is top 100cmc at 50m mc, x18 from here. Don't missed out on this one. I highly suggest it to add it on your portfolio. If you missed out on LINK, NEO, UBT ico days. Here's your chance. Tokenomics; Explorer: https://explorer.unification.io/ Circulating supply : 93,851,203 Total supply : 120,000,000 Staking: YES There are 49 million tokens currently at perma stake by the company to secure the network at 51% attack. This will be locked forever for the security of the network. This is equivalent to 1/3 of total supply. Also, 10m $FUND will be minted each year that will bring the total supply at maximum of 210 million by the year 2029. But it will be locked and will only be used to sell for enterprises for utility usage and to pay for network tax (block rewards) it means, the more WrkChains will be deployed, there will be "DEFLATION" because it will be used by enterprises etc. If those 10million minted $FUND each year is not sufficient for enterprises, they have to MARKET BUY the $FUND tokens. Good tokenomics tho. Main Goal: To deploy 100 Wrkchains this 2020 Partners: Travala.com INLAGS (Latin American Institute of Health) https://www.inlags.com/ BidiPass (https://bidipass.org/) Alpha Chain (https://alphachain.com/) Yellow (https://www.yellow.com/) Beach Head (https://www.beachhead.com/) Binance Info (https://info.binance.com/) Deployment Partners: Amazon Web Services Google Cloud Platform Microsoft Azure Exchanges: Probit (suggested exchange, NO KYC) BitForex (suggested exchange, but low liquidity) Binance Dex (Not a mainnet, needed to swap) Digifinex Bidesk (Not a mainnet, needed to swap) Useful links: 1st enterprise to adopt WrkChains https://explorer.unification.io/transactions/8F0B166542C8E95ABCFFE35D8587E665149F65457AF5A41742010CE18143DCA4 An enterprise purchase of $FUND yesterday worth $21,000 for utility usage. https://explorer.unification.io/transactions/F7A79321387AF875570E6F97BC7E909D092C9870B19E94AFCBD84ED5D7EDC268 Big Boss Capital as a Unification Validator https://endofthechain.com/big-boss-capital-is-live/amp/?__twitter_impression=true Generation Crypto AMA Recap http://gcrypto.media/unification-ama-recap/ WrkChains detailed explanation https://www.youtube.com/watch?v=4hJmV5vdG2o&feature=emb_title The Gem Hunters rated $FUND as Emerald Grade 3 https://www.thegemhunters.net/reviews A superb review of $FUND by Blockfyre, Rated $FUND a score of B7. https://blockfyre.com/unification-fund/ tehMoonwalkeR added $FUND to his list. https://twitter.com/tehMoonwalkestatus/1265281813603250179?s=19 An interesting thread by other user https://www.reddit.com/CryptoMoonShots/comments/gn0j9v/the_birth_of_fund_moonshots_part_2/?utm_medium=android_app&utm_source=share Telegram https://t.me/unificationfoundation Telegram Ann: https://t.me/UnificationOfficial Medium: https://medium.com/unificationfoundation Twitter https://twitter.com/UnificationUND?s=09 Coingecko https://www.coingecko.com/en/coins/unification Conclusion: You can apply the law of supply and demand in this token. Wherein scarcity will happen and will boost the token's price a lot and also consider the 49m permanent stake which is 1/3 of the total supply. Which means only 71 million are in the circulation. If this will be listed to another 5 more exchanges, the demand will increase which will give a massive boost to the price. Plus, add those incoming WrkChains deployment which will use about an estimation of 500k to 1million $FUND per year for utility usage. Their main goal this 2020 is to deploy 100 WrkChains. Imagine the scarcity. It will be above the rest. They worked hard 2 years for this perfect solution. Silently working and here they are, going to make a name in the industry. Try looking out for the flaws of this project. If you have any, kindly comment it here. Post Scriptum: Enjoy bagging this GEM as early as you can before it explode in corporations, enterprises and Governments and exchanges. This is my Ace card in whole crypto. FUD and bash is accepted. If you're saying 4m mcap is too high. No it's not. It's still in it's infancy phase. Also screencap this, next year it will be a happy memory that you read this post and you will thank me in the future.
The Next Crypto Wave: The Rise of Stablecoins and its Entry to the U.S. Dollar Market
Author: Christian Hsieh, CEO of Tokenomy This paper examines some explanations for the continual global market demand for the U.S. dollar, the rise of stablecoins, and the utility and opportunities that crypto dollars can offer to both the cryptocurrency and traditional markets. The U.S. dollar, dominant in world trade since the establishment of the 1944 Bretton Woods System, is unequivocally the world’s most demanded reserve currency. Today, more than 61% of foreign bank reserves and nearly 40% of the entire world’s debt is denominated in U.S. dollars1. However, there is a massive supply and demand imbalance in the U.S. dollar market. On the supply side, central banks throughout the world have implemented more than a decade-long accommodative monetary policy since the 2008 global financial crisis. The COVID-19 pandemic further exacerbated the need for central banks to provide necessary liquidity and keep staggering economies moving. While the Federal Reserve leads the effort of “money printing” and stimulus programs, the current money supply still cannot meet the constant high demand for the U.S. dollar2. Let us review some of the reasons for this constant dollar demand from a few economic fundamentals.
Demand for U.S. Dollars
Firstly, most of the world’s trade is denominated in U.S. dollars. Chief Economist of the IMF, Gita Gopinath, has compiled data reflecting that the U.S. dollar’s share of invoicing was 4.7 times larger than America’s share of the value of imports, and 3.1 times its share of world exports3. The U.S. dollar is the dominant “invoicing currency” in most developing countries4. https://preview.redd.it/d4xalwdyz8p51.png?width=535&format=png&auto=webp&s=9f0556c6aa6b29016c9b135f3279e8337dfee2a6 https://preview.redd.it/wucg40kzz8p51.png?width=653&format=png&auto=webp&s=71257fec29b43e0fc0df1bf04363717e3b52478f This U.S. dollar preference also directly impacts the world’s debt. According to the Bank of International Settlements, there is over $67 trillion in U.S. dollar denominated debt globally, and borrowing outside of the U.S. accounted for $12.5 trillion in Q1 20205. There is an immense demand for U.S. dollars every year just to service these dollar debts. The annual U.S. dollar buying demand is easily over $1 trillion assuming the borrowing cost is at 1.5% (1 year LIBOR + 1%) per year, a conservative estimate. https://preview.redd.it/6956j6f109p51.png?width=487&format=png&auto=webp&s=ccea257a4e9524c11df25737cac961308b542b69 Secondly, since the U.S. has a much stronger economy compared to its global peers, a higher return on investments draws U.S. dollar demand from everywhere in the world, to invest in companies both in the public and private markets. The U.S. hosts the largest stock markets in the world with more than $33 trillion in public market capitalization (combined both NYSE and NASDAQ)6. For the private market, North America’s total share is well over 60% of the $6.5 trillion global assets under management across private equity, real assets, and private debt investments7. The demand for higher quality investments extends to the fixed income market as well. As countries like Japan and Switzerland currently have negative-yielding interest rates8, fixed income investors’ quest for yield in the developed economies leads them back to the U.S. debt market. As of July 2020, there are $15 trillion worth of negative-yielding debt securities globally (see chart). In comparison, the positive, low-yielding U.S. debt remains a sound fixed income strategy for conservative investors in uncertain market conditions. Source: Bloomberg Last, but not least, there are many developing economies experiencing failing monetary policies, where hyperinflation has become a real national disaster. A classic example is Venezuela, where the currency Bolivar became practically worthless as the inflation rate skyrocketed to 10,000,000% in 20199. The recent Beirut port explosion in Lebanon caused a sudden economic meltdown and compounded its already troubled financial market, where inflation has soared to over 112% year on year10. For citizens living in unstable regions such as these, the only reliable store of value is the U.S. dollar. According to the Chainalysis 2020 Geography of Cryptocurrency Report, Venezuela has become one of the most active cryptocurrency trading countries11. The demand for cryptocurrency surges as a flight to safety mentality drives Venezuelans to acquire U.S. dollars to preserve savings that they might otherwise lose. The growth for cryptocurrency activities in those regions is fueled by these desperate citizens using cryptocurrencies as rails to access the U.S. dollar, on top of acquiring actual Bitcoin or other underlying crypto assets.
The Rise of Crypto Dollars
Due to the highly volatile nature of cryptocurrencies, USD stablecoin, a crypto-powered blockchain token that pegs its value to the U.S. dollar, was introduced to provide stable dollar exposure in the crypto trading sphere. Tether is the first of its kind. Issued in 2014 on the bitcoin blockchain (Omni layer protocol), under the token symbol USDT, it attempts to provide crypto traders with a stable settlement currency while they trade in and out of various crypto assets. The reason behind the stablecoin creation was to address the inefficient and burdensome aspects of having to move fiat U.S. dollars between the legacy banking system and crypto exchanges. Because one USDT is theoretically backed by one U.S. dollar, traders can use USDT to trade and settle to fiat dollars. It was not until 2017 that the majority of traders seemed to realize Tether’s intended utility and started using it widely. As of April 2019, USDT trading volume started exceeding the trading volume of bitcoina12, and it now dominates the crypto trading sphere with over $50 billion average daily trading volume13. https://preview.redd.it/3vq7v1jg09p51.png?width=700&format=png&auto=webp&s=46f11b5f5245a8c335ccc60432873e9bad2eb1e1 An interesting aspect of USDT is that although the claimed 1:1 backing with U.S. dollar collateral is in question, and the Tether company is in reality running fractional reserves through a loose offshore corporate structure, Tether’s trading volume and adoption continues to grow rapidly14. Perhaps in comparison to fiat U.S. dollars, which is not really backed by anything, Tether still has cash equivalents in reserves and crypto traders favor its liquidity and convenience over its lack of legitimacy. For those who are concerned about Tether’s solvency, they can now purchase credit default swaps for downside protection15. On the other hand, USDC, the more compliant contender, takes a distant second spot with total coin circulation of $1.8 billion, versus USDT at $14.5 billion (at the time of publication). It is still too early to tell who is the ultimate leader in the stablecoin arena, as more and more stablecoins are launching to offer various functions and supporting mechanisms. There are three main categories of stablecoin: fiat-backed, crypto-collateralized, and non-collateralized algorithm based stablecoins. Most of these are still at an experimental phase, and readers can learn more about them here. With the continuous innovation of stablecoin development, the utility stablecoins provide in the overall crypto market will become more apparent.
In addition to trade settlement, stablecoins can be applied in many other areas. Cross-border payments and remittances is an inefficient market that desperately needs innovation. In 2020, the average cost of sending money across the world is around 7%16, and it takes days to settle. The World Bank aims to reduce remittance fees to 3% by 2030. With the implementation of blockchain technology, this cost could be further reduced close to zero. J.P. Morgan, the largest bank in the U.S., has created an Interbank Information Network (IIN) with 416 global Institutions to transform the speed of payment flows through its own JPM Coin, another type of crypto dollar17. Although people argue that JPM Coin is not considered a cryptocurrency as it cannot trade openly on a public blockchain, it is by far the largest scale experiment with all the institutional participants trading within the “permissioned” blockchain. It might be more accurate to refer to it as the use of distributed ledger technology (DLT) instead of “blockchain” in this context. Nevertheless, we should keep in mind that as J.P. Morgan currently moves $6 trillion U.S. dollars per day18, the scale of this experiment would create a considerable impact in the international payment and remittance market if it were successful. Potentially the day will come when regulated crypto exchanges become participants of IIN, and the link between public and private crypto assets can be instantly connected, unlocking greater possibilities in blockchain applications. Many central banks are also in talks about developing their own central bank digital currency (CBDC). Although this idea was not new, the discussion was brought to the forefront due to Facebook’s aggressive Libra project announcement in June 2019 and the public attention that followed. As of July 2020, at least 36 central banks have published some sort of CBDC framework. While each nation has a slightly different motivation behind its currency digitization initiative, ranging from payment safety, transaction efficiency, easy monetary implementation, or financial inclusion, these central banks are committed to deploying a new digital payment infrastructure. When it comes to the technical architectures, research from BIS indicates that most of the current proofs-of-concept tend to be based upon distributed ledger technology (permissioned blockchain)19. https://preview.redd.it/lgb1f2rw19p51.png?width=700&format=png&auto=webp&s=040bb0deed0499df6bf08a072fd7c4a442a826a0 These institutional experiments are laying an essential foundation for an improved global payment infrastructure, where instant and frictionless cross-border settlements can take place with minimal costs. Of course, the interoperability of private DLT tokens and public blockchain stablecoins has yet to be explored, but the innovation with both public and private blockchain efforts could eventually merge. This was highlighted recently by the Governor of the Bank of England who stated that “stablecoins and CBDC could sit alongside each other20”. One thing for certain is that crypto dollars (or other fiat-linked digital currencies) are going to play a significant role in our future economy.
There is never a dull moment in the crypto sector. The industry narratives constantly shift as innovation continues to evolve. Twelve years since its inception, Bitcoin has evolved from an abstract subject to a familiar concept. Its role as a secured, scarce, decentralized digital store of value has continued to gain acceptance, and it is well on its way to becoming an investable asset class as a portfolio hedge against asset price inflation and fiat currency depreciation.Stablecoins have proven to be useful as proxy dollars in the crypto world, similar to how dollars are essential in the traditional world. It is only a matter of time before stablecoins or private digital tokens dominate the cross-border payments and global remittances industry. There are no shortages of hypes and experiments that draw new participants into the crypto space, such as smart contracts, new blockchains, ICOs, tokenization of things, or the most recent trends on DeFi tokens. These projects highlight the possibilities for a much more robust digital future, but the market also needs time to test and adopt. A reliable digital payment infrastructure must be built first in order to allow these experiments to flourish. In this paper we examined the historical background and economic reasons for the U.S. dollar’s dominance in the world, and the probable conclusion is that the demand for U.S. dollars will likely continue, especially in the middle of a global pandemic, accompanied by a worldwide economic slowdown. The current monetary system is far from perfect, but there are no better alternatives for replacement at least in the near term. Incremental improvements are being made in both the public and private sectors, and stablecoins have a definite role to play in both the traditional and the new crypto world. Thank you. Reference:  How the US dollar became the world’s reserve currency, Investopedia  The dollar is in high demand, prone to dangerous appreciation, The Economist  Dollar dominance in trade and finance, Gita Gopinath  Global trades dependence on dollars, The Economist & IMF working papers  Total credit to non-bank borrowers by currency of denomination, BIS  Biggest stock exchanges in the world, Business Insider  McKinsey Global Private Market Review 2020, McKinsey & Company  Central banks current interest rates, Global Rates  Venezuela hyperinflation hits 10 million percent, CNBC  Lebanon inflation crisis, Reuters  Venezuela cryptocurrency market, Chainalysis  The most used cryptocurrency isn’t Bitcoin, Bloomberg  Trading volume of all crypto assets, coinmarketcap.com  Tether US dollar peg is no longer credible, Forbes  New crypto derivatives let you bet on (or against) Tether’s solvency, Coindesk  Remittance Price Worldwide, The World Bank  Interbank Information Network, J.P. Morgan  Jamie Dimon interview, CBS News  Rise of the central bank digital currency, BIS  Speech by Andrew Bailey, 3 September 2020, Bank of England
HOW TO TRADE BINARY OPTIONS ON THISOPTION BINARY EXCHANGE
Some people say cryptocurrency trades are hard. Some others hold the view that trading cryptocurrencies can be one of the sweetest ways of making money. Whichever way you view it, the truth is that cryptocurrencies have a lot of potentials. Besides, you will soon realize that Binary trading is one of the easiest only if you understood what it takes to trade cryptocurrencies that way. ADDRESSING THE CHALLENGES Considering the challenge some cryptocurrency traders have (I guess you may be having the issues) with binary trading; I deemed it fit to seek some viable solutions. I later found a veritable platform where you can trade on binary options without having to rack your brain or take more time than required to figure out the market direction. The name of that platform is Thisoption, and in this review, I will show you how you can start trading binary options on the platform. GETTING STARTED In this section, I will show you all you need to know about trading binary options, cryptocurrencies, FOREX, and stocks on Thisoption. It all starts with creating an account and following the subsequent steps; Step 1: Create an Account As mentioned earlier, everything you need to become a professional binary options trade starts with signing up for an account on the Thisoption binary exchange. To do that, you will need to provide your accurate details, as: -Full name -Email address -Create a new password and -Confirm your email address Have in mind that the Thisoption binary exchange has many things in store for you. For example, you stand a chance to receive a gift, as well as granted access to multiple trading tools immediately you sign up for an account. Step 2: Fund Your Account Once you’ve confirmed your email address and have access to your Thisoption binary exchange account, the next step would be to fund your account. Interestingly, it wouldn’t take you more than a few minute to do that because Thisoption has many payment methods that will work for you. Step 3: Do the Work This is where the major work starts. With the trading tools you already have, you can use the same to predict the movement of the market. By predicting the market direction, you will be qualifying yourself to make some money if your prediction comes out as expected. How to Predict Markets Predicting the direction of the binary market isn’t tasking as you might have been made to believe. Instead, it is one of the easiest things you can do. For example, there are 2 major ways you can predict market directions/movements. The first method is to use your many years of experience and the trading tools. The other is to seek the help of binary trade specialists on Thisoption who will help you make an accurate prediction. The Excellent Market Prediction Guide There are no two ways of predicting the movement of a binary market. As you may have known, it is all about buying and selling. Therefore, your major task is to predict whether a particular binary market will go up to make profits or go down to cause losses. Advantages of Predicting Binary Markets on Thisoption You can now see how easy it is to predict the direction of binary markets on Thisoption. Yet, there are some other things I think you should know about the platform. The first is that you can predict on many markets because Thisoption provides you with up to 100 assets. The second is that you can be confident of not being defrauded because the Thisoption binary exchange is regulated in some places. Finally, Thisoption has one of the fastest payout systems pegged at 1 hour. Therefore, withdrawing your earnings on binary predictions will be processed at the speed of light. Wrapping Up Thisoption just made binary trading easier and simpler for everyone. If you have been looking for ways to become a binary trader without many issues, Thisoption is the platform to rely on. The YouTube video below will also give you a proper guide to the Thisoption exchange; USEFUL LINKS ▶ ️ Extons: https://www.extons.io ▶ ️ THISOPTION: https://thisoption.com ▶ ️ Whitepaper: https://www.extons.io/whitepaper ▶ ️ Telegram: https://t.me/thisoption ▶ ️ ANN : https://bitcointalk.org/index.php?topic=5263768 ▶ ️ Medium: https://email@example.com AUTHOR’S DETAILS Bitcointalk Username- Vunchan Bitcointalk Profile link- https://bitcointalk.org/index.php?action=profile;u=2774784;sa=summary https://preview.redd.it/f0rivf1w2ck51.jpg?width=1080&format=pjpg&auto=webp&s=14cb21972b5af5d52d51390cf5b9d02f7ca88969 https://preview.redd.it/3fokoems2ck51.jpg?width=1080&format=pjpg&auto=webp&s=e86d18f111d8d34f4c885b41d2d9480fc0482659 https://preview.redd.it/4qhua7um2ck51.jpg?width=1080&format=pjpg&auto=webp&s=079be71d4d5ec10c2c9fc6ffc394573983d6e366
Binary Options Review; Best Binary Options Brokers
Binary Options Review; Best Binary Options Brokers We have compared the best regulated binary options brokers and platforms in May 2020 and created this top list. Every binary options company here has been personally reviewed by us to help you find the best binary options platform for both beginners and experts. The broker comparison list below shows which binary trading sites came out on top based on different criteria. You can put different trading signals into consideration such as using payout (maximum returns), minimum deposit, bonus offers, or if the operator is regulated or not. You can also read full reviews of each broker, helping you make the best choice. This review is to ensure traders don't lose money in their trading account. How to Compare Brokers and Platforms In order to trade binary options, you need to engage the services of a binary options broker that accepts clients from your country e.g. check US trade requirements if you are in the United States. Here at bitcoinbinaryoptionsreview.com, we have provided all the best comparison factors that will help you select which trading broker to open an account with. We have also looked at our most popular or frequently asked questions, and have noted that these are important factors when traders are comparing different brokers:
What is the Minimum Deposit? (These range from $5 or $10 up to $250)
Are they regulated or licensed, and with which regulator?
Can I open a Demo Account?
Is there a signals service, and is it free?
Can I trade on my mobile phone and is there a mobile app?
Is there a Bonus available for new trader accounts? What are the Terms and
Who has the best binary trading platform? Do you need high detail charts with technical analysis indicators?
Which broker has the best asset lists? Do they offer forex, cryptocurrency, commodities, indices, and stocks – and how many of each?
Which broker has the largest range of expiry times (30 seconds, 60 seconds, end of the day, long term, etc?)
How much is the minimum trade size or amount?
What types of options are available? (Touch, Ladder, Boundary, Pairs, etc)
Additional Tools – Like Early closure or Metatrader 4 (Mt4) plugin or integration
Do they operate a Robot or offer automated trading software?
What is Customer Service like? Do they offer telephone, email and live chat customer support – and in which countries? Do they list direct contact details?
Who has the best payouts or maximum returns? Check the markets you will trade.
The Regulated Binary Brokers Regulation and licensing is a key factor when judging the best broker. Unregulated brokers are not always scams, or untrustworthy, but it does mean a trader must do more ‘due diligence’ before trading with them. A regulated broker is the safest option. Regulators - Leading regulatory bodies include:
CySec – The Cyprus Securities and Exchange Commission (Cyprus and the EU)
FCA – Financial Conduct Authority (UK)
CFTC – Commodity Futures Trading Commission (US)
FSB – Financial Services Board (South Africa)
ASIC – Australia Securities and Investment Commission
There are other regulators in addition to the above, and in some cases, brokers will be regulated by more than one organization. This is becoming more common in Europe where binary options are coming under increased scrutiny. Reputable, premier brands will have regulation of some sort. Regulation is there to protect traders, to ensure their money is correctly held and to give them a path to take in the event of a dispute. It should therefore be an important consideration when choosing a trading partner. Bonuses - Both sign up bonuses and demo accounts are used to attract new clients. Bonuses are often a deposit match, a one-off payment, or risk-free trade. Whatever the form of a bonus, there are terms and conditions that need to be read. It is worth taking the time to understand those terms before signing up or clicking accept on a bonus offer. If the terms are not to your liking then the bonus loses any attraction and that broker may not be the best choice. Some bonus terms tie in your initial deposit too. It is worth reading T&Cs before agreeing to any bonus, and worth noting that many brokers will give you the option to ‘opt-out’ of taking a bonus. Using a bonus effectively is harder than it sounds. If considering taking up one of these offers, think about whether, and how, it might affect your trading. One common issue is that turnover requirements within the terms, often cause traders to ‘over-trade’. If the bonus does not suit you, turn it down. How to Find the Right Broker But how do you find a good broker? Well, that’s where BitcoinBinaryOptionsReview.com comes in. We assess and evaluate binary options brokers so that traders know exactly what to expect when signing up with them. Our financial experts have more than 20 years of experience in the financial business and have reviewed dozens of brokers. Being former traders ourselves, we know precisely what you need. That’s why we’ll do our best to provide our readers with the most accurate information. We are one of the leading websites in this area of expertise, with very detailed and thorough analyses of every broker we encounter. You will notice that each aspect of any broker’s offer has a separate article about it, which just goes to show you how seriously we approach each company. This website is your best source of information about binary options brokers and one of your best tools in determining which one of them you want as your link to the binary options market. Why Use a Binary Options Trading Review? So, why is all this relevant? As you may already know, it is difficult to fully control things that take place online. There are people who only pose as binary options brokers in order to scam you and disappear with your money. True, most of the brokers we encounter turn out to be legit, but why take unnecessary risks? Just let us do our job and then check out the results before making any major decisions. All our investigations regarding brokers’ reliability can be seen if you click on our Scam Tab, so give it a go and see how we operate. More detailed scam reports than these are simply impossible to find. However, the most important part of this website can be found if you go to our Brokers Tab. There you can find extensive analyses of numerous binary options brokers irrespective of your trading strategy. Each company is represented with an all-encompassing review and several other articles dealing with various aspects of their offer. A list containing the very best choices will appear on your screen as you enter our website whose intuitive design will allow you to access all the most important information in real-time. We will explain minimum deposits, money withdrawals, bonuses, trading platforms, and many more topics down to the smallest detail. Rest assured, this amount of high-quality content dedicated exclusively to trading cannot be found anywhere else. Therefore, visiting us before making any important decisions regarding this type of trading is the best thing to do. CONCLUSION: Stay ahead of the market, and recover from all kinds of binary options trading loss, including market losses in bitcoin, cryptocurrency, and forex markets too. Send your request via email to - [email protected]
Hi guys, I have been researching books focused on price action trading in order for me to improve my ability to scalp the E-mini S&P 500 Futures and possibly other futures later on. It seems like there isn't any good books about futures price action out there. Therefore, I have mainly looked into price action trading in general, as well as forex price action trading. Have narrowed down my list to following books: Bob Volman - Forex Price Action Scalping an in-depth look into the field of professional scalping. Al Brooks - Trading Price Action Trends - Technical Analysis of Price Charts Bar by Bar for the Serious Trader Bob Volman - Understanding Price Action - Practical Analysis of the 5-minute time frame I have chosen those 3 because they are supposably going really in-depth on the price action and all link the theory to fairly practical strategies, which reviewers state, can be applied to the market. Any opinions on these books or suggestions for other books? Am not sure if my plan on looking into Forex price action books for futures trading was a good idea at all. Looking forward to hearing from you :)
Weekly Update: The Parachute culture, $COTI on Gate.io, Pynk crowdfunding campaign live, Voyager + Sterling Trading Tech…– 22 May - 28 May'20
Heyo! Continuing with our six-part catch up series to get up to date on the May and June news from Parachute and partners, here’s Part II of VI (22 May - 28 May'20): If you're in crypto, there's often the random pump/moon/wenBinance talk that props up from time to time in groups. Especially, when someone new joins a project and is unfamiliar with the community culture. At Parachute, we have always made it a point to have more meaningful discussions than price. Cap shared some of his thoughts on this as well. For the #culturalweekend prompt this week, Jason got Parachuters to share about “something weird your family does that is a tradition for them but not a traditional tradition”. Peace Love’s Big Trivia in TTR was quite fun as always. The beta testing group for ParJar swaps was set up this week. Also, Chris organised something amazing this week which will possibly remain a secret amongst Parachute admins (and Doc Vic 😊 ). But if word of it ever goes out, you’ll realise why Parachute is the most wholesome project in all of crypto. Chris also gave out some cool $PAR to folks in the Parachute channel to talk about "something that you didn't spend much money on that had a big impact on your quality of life". This week's Two-for-Tuesday featured music from "female artists, including bands with at least one female member". Click here for the playlist. Thanks Sebastian! Some good cheer from Alexis all the way from Germany aXpire’s May recap video covers product updates from Bilr, PayBX etc. To track this week’s 20k $AXPR burn, click here. The team also shared success strategies for law firms. 2gether co-founder Salvador Casquero wrote about best security practices in finance. A new update was pushed to Wednesday Coin’s dApp, WednesdayClub. In this week’s XIO discussions, Citizens talked about ideal time allocation strategies for research and execution. Top Citizens on the Leaderboard stand a chance to win some cool merch. Also, watch out for pesky scams. Voyager announced a partnership with Sterling Trading Tech to launch a crypto trading widget. Proactive Investors covered Voyager in its latest piece chronicling their growing user base. As mentioned in a previous update, CEO Stephen Ehrlich’s crypto investment webinar happened this week. Switch crew did a community AMA just before the $GHOST airdrop snapshot. The team expanded with new dev hires. In preparation for the $GHOST airdrop, ProBit completed its $VSF:$ESH swap and Stex announced support for $ESH/$GHOST airdrop. $ESH was listed on HitBTC and Changelly. Folks who guessed these exchanges correctly won some tokens as well. Founder Josh Case sat down with Mr. Backwards for an interview. Among several updates to the Ghost website, a staking calculator was added. Click here to read the latest technical update from Fantom. $FTM was in the running to be added as a collateral for DAI. Congratulations to Uptrennd for becoming the highest ranked blockchain-based social media platform as per Alexa. They started a SmartLink campaign with 2key Network. The first Uptrennd halvening went live this week. The team is reachable on Discord from now as well. District0x’s latest District Weekly and Dev Updates can be read here and here respectively. Hydro team shared their thoughts on how virtual cards for independent contractors (otherwise referred to as 1099 employees) could improve reimbursement practices. Entries for their Decentralization Ambassador program were opened this week. These look great, XIO team This is what is planned for the GHOST ecosystem currently SelfKey compiled a master list of crypto lending platforms. The Loans Marketplace will feature many of these. Full transcript of the May 12th AMA was released. SelfKey advisor Edmund Lowell spoke at the BlockConf DIGITAL conference this week. Mongolian exchange AIS-X joined the Exchange Marketplace. Pynk’s crowdfunding campaign on Seedrs went live this week. Check out their campaign video here. Amazing production! Plus, this cool feature in City A.M. was the perfect way to close off the week. Wibson hosted a meetup (online of course!) for its Spanish speaking community this week. The crew also introduced the app at an Ethereum event in Buenos Aires. Harmony burned all mainnet tokens mined before Open Staking going public. The latest staking stats and validator data can be seen here and here respectively. That’s right, 3B+ $ONE is already staked. Woohoo! With its latest CoinDCX listing, $ONE got its first INR trading pair. Saweet! The major improvement proposals that were discussed with the community this week were making Open Staking more decentralized and creating a more liquid staking market. This led to the first release after Open Staking. The winners of the effective-median-stake contest were announced. Hope you got a chance to take part in the Flash Quiz. Do you know about all the projects that have been built in the Harmony ecosystem? Here’s a rundown. The team hosted an AMA as well. BitMax changed some of its rules for $ONE staking. Check out COTI’s latest network growth stats here. And super congratulations on winning the Gate.io listing vote! $COTI was also added to Binance’s Locked Savings staking program. Broking platform Troy Trade partnered with COTI to improve its scalability. DoYourTip’s $DYT now has 2500+ HODLers. Neat! Mycro was invited to join BitForex’s app platform CAPP Town. GET Protocol’s GUTS Tickets was covered in Cryptogeeks’ latest blogpost on blockchain-based ticketing. And with that, it’s a wrap for this week in Parachute and partners! See you again with another update. Cheerio!
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