on the deriv platform they have a system that allows traders to exchange money (essentially moving funds from one to another account)
which is a pretty great idea!
(but I do have some doubts about the legal workings, as this walks a very thin path among the laundry path.)
well the benefit is clear, if you have issues getting transfers to work, other traders can “help you out”
it’s just like trading Forex, you decide the “exchange rate” when making your Bid or Ask, which will in terms define your fee/spread.
place the Ad of you buy or sell and wait for someone to pick it up.
pretty straightforward. so let’s try it.
i placed a Buy Ad, but there was already someone Selling, so i went to that one.
placed my offer, made the transfer, and now it’s waiting time…
20 minutes later, everything is complete, funds made it to my Account.
that’s a neat service!
my Trading performance isn’t that good currently, lot’s of time there are some hickups
well, the Rate Hikes do have an advantage as this will cause some movement of money on a global scale, and guess what, that’s a good thing as markets will become a lot more liquid.
but in the aftermath of Covid-19 and a War may be around the corner, things are uncertain and we start to see massive movements even intraday.
This adds another level of complexity, so it’s time to adjust, take smaller pieces instead of waiting for the big moves!
since we do trade mostly Forex, a zero-sum market in general, ranges should be all we trade anyway.
here is a screenshot of the current 30-day stats, (back in November this was at 14%! .. let’s see if we do get back up in this territory.