Innovecture launches TradeVision 2020, a Forex Trading System to help Traders generate income during the Covid-19 pandemic - Benzinga

Innovecture launches TradeVision 2020, a Forex Trading System to help Traders generate income during the Covid-19 pandemic - Benzinga
Today's Currency News: US Dollar (USD) Exchange Rates Poised to Fall on Deep Slump in US GDP - TorFX News
SocGen slumps to loss as market turmoil wrongfoots traders - Financial Times
Forex Currency Trading Guide 2020 - Along the Boards

Posted: 29 Apr 2020 06:05 AM PDT

Proven trade algorithms built on a simple to use, fast and secure platform

SALT LAKE CITY (PRWEB) April 29, 2020

Innovecture LLC, a Global Technology Services and Products company, announced today the launch of TradeVision 2020, a Forex Trading System for the retail traders. This new system is designed to provide a simple to understand, secure and real time trading indicators for retail traders to maximize their returns in the Forex market. Traders can take advantage of the successful and proven trading algorithms provided via various tools within the system, to trade currency pairs from anywhere in the world.

TradeVision 2020 provides advanced trading tools based on our proprietary algorithms which are usually available only for institutional traders. With this release we have made these trading tools available for retail Forex traders. Some of the key capabilities of TradeVision 2020 are:

Ability to analyze each currency pair via their respective Base and Quote components. Available in multiple time frames and data sets.

Ability to measure trend strength and speed for 17 currency pairs from a single view. Available in multiple time frames and data sets.

Ability to leverage a trading system specifically designed for high-frequency traders.

Ability to utilize institutional level trading signals generated by our tools and data sets. We provide exact entry price with Stop and Limit levels. Single Stop and Limit per trade signal. No scaling or hedging.

"We all are aware that the unfortunate adverse economic impact of the COVID-19 pandemic. Although we cannot control these unfortunate events what we can control is how we react to these events, how we keep a positive attitude and how we improve our physical, psychological and financial well-being by focusing on self, family and society. We are contributing the best we can to empower individuals during these times by giving them trading tools and the required training to take steps towards becoming financially independent" said Shreyas Kamat, Founder and CEO of Innovecture.

"The TradeVision 2020 platform is a result of our in-depth understanding of the currency trading markets, our continuous collaboration with the trading community to identify the exact need of the traders, our expertise in designing complex, large scale technology platforms and the use of state-of-the-art technology. We have a team of currency trading market experts and software engineers working around the clock to ensure that our customers get the best, secure, intuitive user experience and near real-time accurate information." said Dan Campbell VP and CTO of TradeVision2020 platform.

ABOUT TRADEVISION 2020

TradeVision 2020 Trader's Desktop is the central hub where all our trading tools live. Our platform is designed so any trader can navigate the dashboard no matter their experience.

For more information and to become a member, visit https://www.tradevision2020.com

Our tools and technology have been in development for more than 15 years. Our venture is funded by Innovecture, a global technology services company based in Salt Lake City, USA and Pune, India

ABOUT INNOVECTURE

Established in 2007, Innovecture is a Global Technology and Management consultancy company, providing consulting, technology and research services to clients around the world. With a major focus on the banking, financial services and insurance (BFSI) sector, Innovecture has an impressive global presence in providing strategic technology solutions and architecture that enhances the business goals of our clients. Innovecture has been recognized multiple times as a MWCN Utah 100 and Inc. 5000 fastest growing company. Innovecture has been privileged to be a major contributor in digital transformation projects for several Fortune 500 BFSI clients. For more information, visit https://www.innovect.com or find the company on LinkedIn.

Media Contact

For questions regarding this press release or for more information, e-mail Innovecture at jamie.irwin@innovect.com or call at 801-495-7050.

For the original version on PRWeb visit: https://www.prweb.com/releases/innovecture_launches_tradevision_2020_a_forex_trading_system_to_help_traders_generate_income_during_the_covid_19_pandemic/prweb17079382.htm

Today's Currency News: US Dollar (USD) Exchange Rates Poised to Fall on Deep Slump in US GDP - TorFX News

Posted: 29 Apr 2020 01:02 AM PDT

Pound (GBP) Undermined by Gloomy Retail Data

The Pound (GBP) was on the defensive yesterday following the release of the Confederation of British Industry's (CBI) latest distributive trends index.

The survey found that 71% of retailers reported a fall in sales this month, a collapse in spending not seen since December 2008.

GBP investors will remain focused on the UK government's next steps and whether there is any chance of Boris Johnson's easing the lockdown next month.

Euro (EUR) Steady as France and Spain Unveil Lockdown Exit Strategy

The Euro (EUR) held steady through Tuesday's session as EUR investors welcomed the announcement of France and Spain's plans to reopen parts of the economy next month.

This helped to offset concerns that the situation in Germany could be deteriorating after the infection rate in the country reportedly climbed to 1, up from 0.7 earlier in the month.

Meanwhile, the Euro could face some pressure this morning as the Eurozone's business confidence survey is expected to report that economic sentiment slumped to a new low this month.

US Dollar (USD) Sinks amid Positive Market Mood

The US Dollar (USD) recorded broad losses during yesterday's trading session as demand for the safe-haven currency was stifled by improving market sentiment.

This comes as investors grow increasingly optimistic at the prospect of more countries reopening their economies.

The US Dollar will face more headwinds in today's session with the publication of the latest US GDP figures, which are expected to show domestic growth contracted by a sizable 4% in the first quarter.

Also influencing USD exchange rates will be the Federal Reserve's latest rate decision. No policy changes are expected this month, but will the Fed's forward guidance hint that the bank could implement additional stimulus measures in the future?

Canadian Dollar (CAD) Buoyed as Oil Rebounds From Lows

The Canadian Dollar (CAD) edged higher on Tuesday, with a modest recovery in oil prices helping to bolster the appeal of the commodity-linked 'Loonie'.

Australian Dollar (AUD) Supported by Robust Inflation Figures

The Australian Dollar (AUD) maintained its upward trajectory overnight on Tuesday, strengthening on the back of a stronger-than-expected pick up in domestic inflation in the first quarter.

New Zealand Dollar (NZD) Strengthens in Risk-on Trade

The New Zealand Dollar (NZD) also rallied overnight, with demand for the 'Kiwi' surging amid the improving market mood.

SocGen slumps to loss as market turmoil wrongfoots traders - Financial Times

Posted: 30 Apr 2020 03:04 AM PDT

Société Générale slumped to a loss in the first quarter as the market turmoil that benefited rival lenders wrongfooted its traders.

The bank, which published its results almost a week earlier than expected, said that it had been "penalised heavily by" volatile market conditions during a quarter in which the coronavirus pandemic forced major economies into lockdown.

Revenues at its global banking and investor solutions business — which includes securities trading — fell 27.3 per cent in the quarter to €1.6bn. That left the division nursing a loss of €537m compared with a profit of €140m in the same period last year.

SocGen's equity trading business — long considered one of its strengths — had a calamitous start to the year, with revenues collapsing 98.7 per cent to €9m.

Overall, the bank reported a net loss of €326m in the period; it made a profit of €686m in the first quarter of 2019. Revenues fell 16.5 per cent to €5.2bn.

Its equity trading business "performed well in January and February", SocGen said in a statement. However, "revenues from structured products activities were severely impacted by the equity markets dislocation in March".

Editor's note

The Financial Times is making key coronavirus coverage free to read to help everyone stay informed. Find the latest here.

Echoing the moves by rivals, the bank increased its bad loan provisions to €820m — a threefold increase over the same quarter last year as the industry prepares for a rising number of defaults. The increase comes "in the context of the Covid-19 crisis and some specific files, including two exceptional fraud files", the bank said, without giving more details.

Revenues from its domestic retail business slipped 1.9 per cent in the quarter but remained "resilient" as a "good performance in the first two months of the year was offset by the impact of Covid-19 in the second half of March".

The bank also confirmed the planned "decrease of its costs in 2020 versus 2019 and the good execution of initiated cost-reduction plans", and added that it "targets an additional cost reduction between €600m and €700m, net of specific costs related to Covid".

It had a better quarter in fixed income and currency trading, where "very strong performance in rates and foreign exchanges fully offsetted a poor performance in structured credit, which was penalised by spreads widening and credit defaults".

SocGen's share price has dropped 50 per cent this year.

Forex Currency Trading Guide 2020 - Along the Boards

Posted: 03 Apr 2020 12:00 AM PDT

The global currency market is the largest in the world. It is estimated that volumes beyond $6 trillion are traded between institutions and individuals every single day. Over 15 million people connect to digital trading platforms to gain from volatility in values of currencies, stocks, and other assets. Here is how you can join the ranks of online traders on Forex.

Basics of Currency Exchange

The intercontinental marketplace accepts a wide range of currencies, which are all traded in pairs. The combinations are divided into 'major', 'minor', and 'exotic' based on their liquidity and other factors. The source of profits (or losses) for retail traders is the ever-changing nature of exchange rates.

The values of national currencies are affected by a wide range of factors. From geopolitical strife to domestic policy changes, terrorism, and strikes, the list of possible drivers is lengthy. Aside from the obvious advantages, Forex currency trading has its own inherent risks that may be hedged to a certain degree.

The fundamental logic of positions opened by traders is to buy and sell currencies with the goal of benefiting from changes in values. Each pair (e.g., EUR/USD) has two prices – one for the seller (Bid) and one for the buyer (Ask). Like in any sales scenario, the latter is slightly higher than the former.

The difference between the two is known as "spread", and it is a major profit source for your broker. They may also charge a commission on each trade or either of the two. In general, the commission is paid to ECN (electronic communication network) brokers, while so-called market makers profit from spreads.

Understanding Exchange Rates

Any pair expresses the valuation of a "base" currency in relation to its "quote" or "counter" currency. For instance, the EUR/USD value shows how many US dollars (quote currency) a single Euro (base currency) is worth. If the Ask price is 1.2808, this means you will spend roughly 1 US dollar 28 cents to purchase one Euro. If this is the Bid value, you receive 1.2808 per Euro when selling.

More Opportunities for Profit

Most brokers do not limit their offerings to currency pairs. As you gain experience and confidence in trading these, you may consider adding other instruments. Platforms used for Forex trading, such as MetaTrader 5, are also suitable for CFDs (Contracts for Difference).

The scheme allows you to profit from changes in prices for stocks, commodities, market indices, or cryptocurrencies. The scheme eliminates the need to own physical assets, such as corporate shares. Speculation is purely price-based, but potential profits are just as real.

Where to Begin

The global finance space may only be accessed through an intermediary called a broker. Make sure the company you pick has an official license and operates in your region lawfully. It should be subject to supervision by state authorities (e.g., the Federal Securities Commission of Mauritius).

Your broker will register your account, provide the necessary software and connect you to the digital marketplace. All deposits and withdrawals will also be processed by their system. This means it should be checked thoroughly.

Types of Accounts

The starting point of any thoughtful Forex journey is training. Demo accounts are the easiest to register: fill in a form on your brokerage website and login details will be generated within minutes. These unlock all the features of the software (e.g., MT4) in a simulated mode.

Every beginner has sufficient opportunities, on which you can learn more here. Take time to practice opening and closing positions, using the "Stop Loss" and "Take Profit" options, and analyzing graphic aids. The platforms are packed with graphs, charts, and other forecasting aids. These facilitate financial decision-making.

Once you are ready to deposit real money, make the switch to a live account. This requires identity verification. Now, you are able to access the real marketplace where trillions circulate daily.

Copy Trading Schemes

Clients who lack experience or time to analyze trends may delegate decision-making to a finance professional. This is an experienced trader whose operations are copied into your account. If profit is achieved, they receive a commission, while you receive a lion's share of the gains.

Tips on Forex Currency Trading

Know Your Limits

One more step that we consider pretty crucial when it comes to forex currency trading. The same rule can be applied to all other trading's as well. This rule is that you need to know your limits. You need to be perfectly aware of what amount you can invest and not get in over your head.

Naturally, this means that you must know how much money you can invest in a particular trading option. It is of the utmost importance for you to set a leverage ratio in accordance with your needs and possibilities. That way, you will never risk more money than you can afford to spend.

Forecasting the Conditions on the Market

All of the experienced traders are perfectly aware of the whole situation before they invest or retrieve their money. Did you ever ask yourself why is that? Well. They are following all of the news, and other important data, like political and financial ones. There are other types of traders.

For example, there are traders who prefer technical tools like Fibonacci retracement or some other ones. However, the biggest percentage of traders are using two of them and combining them in the process. It doesn't matter what methods you prefer, it is important that they will make it possible for you to dig up some of the best trading opportunities available.

Know When to Stop

You don't have enough time to sit and watch all that happens on the market every minute. This is for sure. You can protect your investment, manage your risks, and get out of the market when needed.

Knowing when you need to stop is really helpful, you really need to try it out. After you got some rest and mind off the work and market, you can get a much clearer picture of what you can and can't do.

Consistency is high on our list of priorities when it comes to forex currency trading, you can be sure that exploring is pretty high also. You don't need to be afraid to re-do your trading plan if things haven't got right the first time. Over time, your experience will grow and you will learn a lot in the process.

You need to remember that your plan needs to be a reflection of your goals. If your financial situation or goal is changing in the process, that means that you need to change your plan at the same time.

Choosing the Right Partner

Choosing the right partner for forex currency trading is critical to the success of your plan. Pricing, quality of customer service, and execution can make a significant difference in your trading experience and success. Having the right partner will provide you with all of these things, you can be sure of that.

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