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Happy Emancipation Day! #Juneteenth Preparing to trade the Forex pair GBPAUD and I’m so grateful for the great Americans who came before us to allow traders like me to have the freedom to trade and participate in a free market. 🇺🇸
I’m 14 and I’ve been trading stocks, options, futures, and forex for almost 4 years. How do I land a finance internship and where do I look? Should I wait a little bit longer?
I'm 14 and I've been trading stocks, options, futures, and forex for almost 4 years. How do I land a finance internship and where do I look? Should I wait a little bit longer? Ever since I was in 7th grade, I started to learn about trading because of video game trading. I remember trading many in-game items and selling them to 6th graders for cash. Every night, I would stay up in the video-game item auction websites ( scrap.tf ) because there would be fewer bidders and, therefore more opportunities to snag some good deals. I didn't even play video games at that point, and I only liked trading video-game items. One evening my mother said, "If you like trading so much, you should learn about the stock market.". From then on, I was hooked. So every day after school, I would spend hours watching videos to not understand it, researching it, writing notes, and continuing to expand my knowledge. After about 1.5 years, I was quite knowledgeable and parents that I had given presentations to were very impressed (This was a middle school project where you would present on something you're interested in). Some parents couldn't understand a word I was saying. Near the end of 8th grade, my father wanted to give money to trade with (>$1000) and during the summer I had almost doubled his money. During freshman high school, I would go to the library and open my laptop and just trade. I made about $60-$200 a day and some days I lose money. Although since I managed my risk, my reward outweighed my risk. Trading is just as much, if not more as a mental game than a numbers game. During my freshman year, my father wanted me to manage his retirement fund, and by then, I knew how to read financial statements and do fundamental analysis very well. We are currently 30% up with me joining in January 2020. Although it was sad to find out my father had lost quite a bit of money in his account statement, but now his account is finally positive. Because of this, my mother now encourages me to "monitor" my father which is hilarious considering my age. When I grow up, I want to be a financial analyst or start a prop shop (a type of trading firm), go into real estate (another story for later), and achieve financial freedom. For now, I want to apply for internships to gain some work experience in finance and I have some unanswered questions. - P.S Sorry for any grammar issues I may have missed. English class was never my strong suit. Questions:
What route should I take? Trade school? Finance or accounting in college?
How do I get some finance-related internship as a high schooler?
Is this even possible?
Should I wait a little bit longer?
Where do I look?
What route should I take? Trade school? Finance or accounting or both in college?
Are China and India engaged in a cold economic and information war?
Note: This is resubmitted after making edits to better fit the quality requirements of this sub. While most media attention on China focuses on China’s relationship with the US, one player that rarely gets mentioned--at least in mainstream Western media--is India. In an October 2019 analysis by Deborah Brautigam that explored the origin of the term "debt trap diplomacy" for Chinese investments, she revealed the following:
On 23 January 2017, a Chinese debt-trap diplomacy meme was born in a think tank in northern India and was furthered by a paperwritten by two Harvard University graduate students who called it Chinese ‘debt book diplo-macy’.
A recent thread on china revealed some surprising data (non-academic, I know, but it's a good barometer for general sentiment on China as many of the more critical stories regarding China has first emerged on that sub, and then slowly propagated out towards more mainstream subs/media). Namely--by analyzing 449 tweets with the hashtag of #TweetforTaiwan, it found that 49% of the tweets originated from India. Most recently, Times of India has also advocated for Taiwan's participation in the WHO by interviewing the foreign minister of Taiwan--which has since drawn an official statement from the Chinese embassy in India. But most importantly, India has recently announced that it is setting aside nearly half a million hectares of land to entice foreign firms into leaving China. PM Modi has also emphasized that he had little desire for India to play second fiddle to China. While some can argue that this is due to him pandering to the Hindu nationalist base that makes up his supporters, it's not a statement to be taken lightly because the BJP--by taking a supermajority in the Indian Congress--is in a position to enact its policies at will without regard for the opposition.
The Trade Reality of India vis-a-vis the United States
The United States has actively sought bilateral and multilateral opportunities to increase access to India’s market, and the government of India has pursued ongoing economic reform efforts. Nevertheless, U.S. exporters continue to encounter significant tariff and nontariff barriers that impede imports of U.S. products into India.
Other points raised in the document:
India maintains very high tariffs on a number of goods--some as high as 150%.
India has increased tariffs in 2018 key U.S. exports in the agricultural, information and communications technology, and automobile parts sectors, with no warning or public consultation process.
India maintains several export subsidy programs to boost production in domestic sectors
India remains on the Priority Watch List due to weak protection and enforcement of intellectual property rights
The Indian government maintains strong ownership presence in major services industries such as banking and insurance.
Foreign investment in businesses in certain major services sectors, including financial services and retail, is subject to limitations on foreign equity.
The document goes on to list additional trade barriers that India has put up against the United States, and they are far too many to list here. But taken as a whole, the overall summary seems to be this: India--from a trade policy perspective--is not that much different or even that advantageous compared to China. Yet in the face of greater US-China economic rivalry, India has emerged as a seemingly viable alternative to China despite data suggesting the contrary. This is due to the major advantage India has over China, which I will discuss in the next section.
The Advantages India Holds Over China
ADVANTAGE 1: ONLINE PRESENCE The biggest advantage that India holds over China in an economic cold war has little to do with any underlying economic strength, nor does it have anything to do with how easy it is for foreign companies to enter India. Instead, the biggest advantage India has over China is its online presence in the Western internet. With 560 million internet users, India is the second largest online market after China. But unlike China, India’s internet is not locked behind a government imposed barrier. The lack of such a barrier has given rise to a sophisticated disinformation/propaganda arm for Indian political parties—most notably the BJP—on Western internet channels such as Twitter and Facebook. The Centre for International Governance Innovation think tank has done the following analysis of how the BJP’s propaganda arm makes use of Western social media to set the narrative: - The grassroots workers share hyperlocal information about development activities — for instance, a beneficiary getting access to services offered under a government scheme — and work done by their party with voters in their area. They click images and videos as proof and circulate to demonstrate that the party cares about local issues. - The party foot soldiers broadcast their mobilization efforts to their superiors in the party, earning praise and encouragement from the leadership. - The networked system allows the party command to centrally share information through the chain of WhatsApp groups being operated — bypassing the editorial filter of news media. - On Twitter, an army of online warriors takes part in the narrative-setting game. Even though Twitter usage is largely restricted to the country’s elites, journalists and influencers hang out on the micro-blogging platform, meaning the sentiment smoothly seeps into the wider information ecosystem. Basically, India has coopted the Western internet and used it to their advantage, while China has taken the approach of shutting out the Western internet altogether in favor of cultivating its own walled garden. This means that China's closed off internet ecosystem is incapable of effectively competing with India's online presence. Moreover, Chinese netizens who do manage to overcome the barriers can find themselves facing state suppression and persecution. This limits Chinese disinformation methods to either state media, or state-sanctioned individuals who often must be vetted for political loyalty before they are set loose. This level of political control and loyalty that China demands has severely limited its ability to project its message outside of the Chinese internet. The ability for India's different political parties to set the narrative gives India a crucial advantage when it comes to either spreading pro-Indian messages or smearing potential adversaries. ADVANTAGE 2: MAINTAINING A SUPPORTIVE DIASPORA Indian Americans maintain a high degree of connection to their motherland (for lack of a better term), and this data is supported by India being the top remittance-receiving country in 2018. While Chinese immigrants maintain a similar level of connection to their motherland (China ranks second after India in the top remittance-receiving countries in 2018 from the same Times of India report), a prevailing attitude of Chinese diaspora has been one of pride for their homeland but suspicion for the government:
Many overseas Chinese have shown pride in the considerable economic achievements China has made over the past four decades, allowing it to become the world’s second largest economy. On the other hand, they also harbour deep-rooted suspicion and disapproval of the party’s authoritarian approach and its intolerance towards dissent or media freedom. Hence, when talking politics, those overseas Chinese like to highlight that their love of country is in no way related to a love of the Communist Party.
As the CCP increasingly demand that supporting China be intertwined with supporting the CCP—a message that the party can control and foster only within its walled garden—it is more likely to drive overseas Chinese further away from supporting the party’s policies. In 2019, the "Howdy Modi" convention in Houston, Texas drew a crowd of 50,000. It's difficult to imagine a similar number of supporters if a CCP politician were to announce a similar trip. The popularity Indian politicians like Modi can expect in the West, coupled with an effective propaganda wing from within India that has a massive presence on social media to set the narrative gives India a tremendous advantage in maintaining a high degree of loyalty in its diaspora population. This diaspora can later prove to be a useful tool in advancing Indian foreign policy by amplifying the messages from within India. Disclaimer: this by no means implies that Hindu Indian Americans are acting as a fifth column to advance India's goals, but merely suggests that Hindu Indian Americans are likely to share and disseminate Indian propaganda--with or without realizing that they are doing so.
Can China Counter this?
In the current information war, China is losing. Badly. By building a caged garden, China's information warriors are largely clueless as to how to effectively spread their propaganda. Two examples come to mind. The first example was during the recent Hong Kong protests. China's attempt at controlling the narrative fell apart almost as quickly as it began, as many of its messages included support for party control, casting the protesters as Hong Kong independence provocateurs, or suggesting CIA influence rather than focusing on specific instances of targeted violence and xenophobic attacks on Mandarin speaking individuals (including attacks on Taiwanese media). Another example is how China has been incapable of finding a way to reduce the influence of Falun Gong media such as the Epoch Times and New Tang Dynasty TV in the West. These channels can operate unimpeded from Chinese state repression on the Western internet, and when China does try and respond to them, the results often come across as clumsy and ham-fisted because attempts at control tend to follow Chinese internet control strategies. However, from experience, China can ill afford to relax its internet controls: both the 2008 Tibetan protests and the 2009 Urumqi attacks were organized through Facebook. Relaxing internet controls would also see the internet, both within and without China, be flooded with Chinese nationalists--a faction that Beijing has simultaneously encouraged and suppressed depending on the needs of the state. If China were to go on the information war offensive against India to retain its economic advantage, it must take a two-pronged approach:
On the world stage, it would highlight the unfair trade practices of India to portray India in the same light as China in terms of negative trade practices.
Within India, it would find local partners to sow the idea that India will be treated the same way as China by the West once it has developed enough.
On highlighting the unfair trade practices of India: The advantage that China holds in this regard is that the world has already formed a negative opinion on Chinese trade practices, therefore creating a situation in which China only has something to lose if other countries can offer a more attractive alternative. By depriving the world of seeing India as a viable alternative, China can join in international pressure to force the Indian economy to open up further without giving India the opportunity to develop an industrial base capable of protecting its fledgling industries. In such a scenario, China would be able to leverage its massive industrial capability into India and gobble up local Indian partners, or otherwise choose to support companies that would adopt pro-China practices. In essence, by attacking India before it can build an effective industrial base, China can enact a a softer version of the colonialist methods that the British used to subjugate India in the 19th century. This may possibly explain why the term "debt trap diplomacy" first emerged from an Indian think tank. On Using Local Indian Partners to Sow Ideas: By partnering with local voices in India and sowing the idea that once India becomes developed enough, it would also face the same trade scrutiny that China has faced, China can attempt to pivot India away from developing friendlier ties to the West and return it towards its Non-Aligned status it adopted during the Cold War. However, these efforts can largely be stymied by government policy--and in fact, the Modi government has required that Chinese investment into India be approved first. There is still a lot of room for the rivalry and/or partnership between China and India to continue developing in this coming decade. But it's clear that at the current moment, India seems to have a distinctive advantage.
Deciding if I should pursue a career in forex trading (as a 15 year old)
Hey everyone, I’m a teenager living in the uk and in the past 9 months or so I’ve been trying to decide what I want to do once I leave school. Long story short I have lots of interests but my ultimate goal in life is to travel the world and gain ‘financial freedom’. I know this sounds very typical of a teenager which has been exposed to gurus or whatever but I want some opinions off some professional or experienced traders not these gurus trying to sell me something. I would just like to know if forex trading is a career where you can be very successful and I will start learning as soon as I can, I’ve learnt all the basics but I want to keep learning more about it so I’m ready to trade real money when I’m 18. I really hope I don’t come across as just some idiot who thinks it’s a get rich quick scheme because I certainly know it’s not. I would really appreciate any advice and comments if anyone sees this, Thank you
Picking an online broker for investing for a non-US Non-EU investor
I live in Turkey and picked up an interest in investing to be able to feel financially safe and hopefully free in the future, two years ago. I picked a couple of divident paying stocks and bought small amounts. I also picked a couple of funds and invested even smaller amounts to see how they perform. One thing I noticed is that, the market is not likely to beat the inflation (if it can, it will be barely - and statistics are not very reliable at the moment), and nobody in the country remembers a period where USD lost power to Turkish lira in a persistent way, but we are seeing the reverse right now. This is so obvious and certain for most of our people that just buying USD alone is an investment form which will not fail you. Obviously unless I happened to pick up the stocks that will constantly outperform the whole market, it's unlikely that I gain a financial freedom in this way. And I can't do day trading or short term investment because I can't sit in front of a screen and monitor the market. Also, dividends are not reliable as a company might decide to skip a year or stop paying it altogether. And the divident performance of the whole market is around 1%. So, I don't feel like this environment is the right one for long term investment. That's why I am planning to invest in the US and maybe the UK stock markets. There are a couple of banks that let me invest in those markets, but their commission rates are insane. The minimum they will get for one transaction is $25. I was planning to start with something like $250-300 and if I invest with them, there goes one-tenth of my money. However, transferring money to a foreign account costs 40-50 Turkish liras, which roughly translates to $7-8. Considering that I'm planning to put small amount of money and buy stocks with it, transferring money to a broker makes sense. However this arises safety issues as I'm going to invest with an American or British broker. Moreover it will have to be an online broker because others don't accept foreigner investors. Risk increases. While I was doing research, I learnt that Saxobank, Tradestation Global and Interactive Brokers accept Turkish citizens. I can't pick Saxobank as they have a minimum of $10,000 which I won't have for a while. I checked them out to see if they are safe, but apart from obvious advertisement websites, it is very confusing. For instance, https://www.forexpeacearmy.com/forex-reviews/165/tradestation-stock-broker and https://www.forexpeacearmy.com/forex-reviews/165/tradestation-stock-broker They both are slammed here. But check this out: https://www.tradingview.com/brokeTradeStation/reviews/ Here, where the company can answer, there is a different story: https://www.trustpilot.com/review/interactivebrokers.com This one is another: https://www.trustpilot.com/review/tradestation.com?languages=en So, what are your thoughts about these two brokers? Are there any alternatives I am missing? Or should I just not invest in these markets? EDIT: I'm also worried about inactivity fees as I plan to buy and forget whether stocks or funds.
Forex-Freedom Blog. Contact. More. Freedom For All- Send me a message. Send. Forex For All & All About Forex Trading The Journey to Freedom in a Nutshell. Forex trading is for all. A simple but yet so powerful statement that could change your life forever. Forex trading can be done by students, professionals, pensioners and people from all Enroll Forex Freedom Course by AlphaShark at Whatstudy.com, A candle paints red when it closes below the 34-bar EMA of the low. The Forex Freedom System is a forex trading system which is based on the work of the FFS Robot. The system also works with two other software, and the entire combo pack which is said to be worth thousands of dollars, sells for $87 under a special “time-limited offer” displayed on the sales page. Stephane Bartschi is the founder and chief mentor at Forex Freedom Mentor, a place to understand the Foreign Exchange world through financial analysis and tailored mindset coaching. He helps individuals achieve their financial objective by sharing all his skills and knowledge. FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826). Forex trading involves significant risk of loss and is not suitable for all investors. Full Disclosure. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act.
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