TradingView has become one of the most popular trading platforms in the world over the past few years. It offers a wide range of tools, graphs, charts, and a bustling community that helps traders grow and become better at trading.
TradingView is especially useful for forex traders. It has everything you need all on one platform, from a watchlist that allows you to keep an eye on all your currency pairs to a news page that keeps you on top of current affairs that could affect your investments.
Interface
The most appealing aspect of TradingView is how clean and concise its interface is. Everything you need is easy to find; the tools are straightforward to understand and implement, and your charts and graphs can be as simple or as detailed as you choose.
The TradingView mobile app is also very user-friendly and just as easy to navigate, allowing you to stay on top of your trades no matter where you are.
Watchlist
The first big plus when using TradingView is their watchlist feature. Considering forex trading requires time to analyze markets and knowing when and what to trade, being able to see all the pairs you’re interested in on one page makes this so simple.
You are also able to label and colour different pairs, allowing you to mark them as a scalp trade, day trade, or something you want to watch in the future. This control means you won’t miss out on a change that could make or cost you money.
News
Global events, governmental decisions, and natural disasters are only a few things that can affect a currency’s power. There is no telling which event could impact our trades; therefore, you need to know what is happening at all times.
TradingView has a page that provides new headlines and updates for your currency pairs. Not only do you keep up to date with world events, but you also barely have to search for the headlines and stories that are relevant to you.
Charts
This is where TradingView shines. The platform offers numerous tools and charts that allow you to track your investments, trading pairs, and potential trading pairs. You are able to track and mark patterns, as well as compare movements to previous time periods.
You can add numerous indicators as well, ranging from volatility to a price spike or fall and dozens of others. These indicators allow you to see large amounts of information at a glance, all on one or two graphs.
Alerts
There is no point in having all of this information at our fingertips if you have to log in and find it all out every time. TradingView has multiple alert types available as well, from volatility alerts, news alerts, percentage changes, etc.
You can also have timed alerts, allowing you to have an online diary of sorts. You can decide if you want the alert to be sent via SMS or email, and doing this every day ensures you don’t miss a thing.
Screener
TradingView offers three different kinds of screeners, one for cryptos, one for stocks, and one for forex. The screeners allow traders to see all the essential information about their chosen currency pairs at a glance.
Like stock and crypto websites with pages and pages of options and their position changes, the screener tool allows you to streamline this and only show the information you want to and need to see.
Sharing Trade Ideas
One of the unique aspects of TradingView that is nothing less than great is its social media platform. Not only is there an active forum that allows you to connect and chat with other traders, but you can also share trading tips and ideas.
The site allows users to make a “trading/tip post,” where you can name and provide details about the tip or the strategy you will use for a particular trade. You can then save and share these ideas on the platform.
Other traders are then able to follow your post and comment on it. These types of tips are surprisingly useful for traders who want to work in the industry, as it is a breadcrumb trail that proves your prediction abilities and trading strengths.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
