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Here are Some Types of Trading Strategies Present for Forex

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As we know, Forex, FX, or Foreign Exchange deals with international currency trading. The process involves buying one currency and giving another for speculation. There can be a rise and fall in the values of currency with factors such as geoeconomics and geopolitics in effect. The forex traders’ concern is to profit from the change in situation anyhow. 

So knowing the forex strategies is helpful to employ the right one at the right time. So let’s take a look at the various styles of trading-

The scalpers 

Scalpers hold onto pips for a short duration from just a few seconds to minutes. Their main aim is to grasp small amounts of pips as frequently as possible during the heat of trade during the day- which lasts for a few hours in a day for Forex traders. So they are into a large amount of trading and make many small profits on individual trades. They try to profit from each trade with at least 5 to 10 pips. So the scalping strategy engages the trader throughout the day, making it a full-time job. The prediction has to be made fast to where the market is going, and the open position must be closed within seconds.

Day trading

The day traders begin at the start of the trading day and choose their side and end the day with profit or loss. The day traders do not clutch onto trades overnight. That means they get to avoid rollover or overnight fees from brokerages like eToro (you can click here to know more about eToro fees courtesy of Wikitoro). Day trade like scalping is a short term trade, but the duration is longer, and the day traders hold onto a single trade and close it at the end of the same day. The day traders spend their time analyzing executing and monitoring a trade. They keep abreast of information and round the globe changes, economic news, and study the charts to be able to choose the right direction. They get to the results of profit or loss at the day end. There are different types of day trading-

Trend Trading [Day trading]

Trend trading is when the traders study the chart in its long period of time, and they can conclude the overall trend. They move onto a shorter time frame chart and find opportunities in that trend’s direction. The Cowabunga System is employed. This mechanical trading system filters out trades based on a four-hour chart with aid of indicators such as EMAs, Stochastics, RSI, and MACD they trade based on a 15-minute chart.

Counter Trading [Day trading]

Similar to Trend trading only after determining the overall trend the trades are searched, but in the opposite direction. The concept is to get in early, at the end of the trade just before the trend begins to reverse. A bit riskier but the payoffs are great.

Breakout Trading [Day trading]

After studying for a few hours the range that a pair makes during the day and then trades are placed on either side so that breakout can be caught in either direction. When the pair has been tight for a while- support and resistance have lasted strongly, it indicates that it will soon make a huge move. The idea is to catch the wave when the move happens. After studying the entry points are set at above and below the levels of a breakout. The preferably same amount of pips should be targeted to define a range.

Swing trading

The traders keep the trades on for several days at a stretch. They don’t monitor the charts all day long but instead study them at night to make the right decisions and are with it where the global economies are concerned. In swing trading, the swings are identified in the medium-term trend and the trader enters only at high chances of winning.

The trader buys (go long) at “swing lows,” and the opposite is true when selling (go short) at “swing highs.” They make use of the short-lasting countertrends. The trades last for more than a day, so bigger stop losses are needed to persist volatility. A money management plan is a must. During the holding time, many trades go against due to fluctuations in prices in shorter periods, swing trader keep calm and trust the analysis. The trades are larger, so spreads don’t impact the overall profits. So, in this case, trading pairs with lower liquidity and larger spreads are fine.

The position traders have trades that have been on for weeks, months, or even years. The fundamental themes that govern currency trends are employed to analyze markets and make trading decisions. Swing Traders have a good insight into economics data that affects the future of the country. The stop losses are large because of holding onto trades for long periods.

Transition trading

Transition trading is studying the market and entering the trade on a lower timeframe. If the market is favorable, the target profits should be increased or track the stop loss on a higher time frame. The advantages are that you would get immense profits. It lowers your risk as the entry is made on a lower time frame. The disadvantages are that only a few of the trades would be big winners. The understanding of multiple timeframes is a must.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

The Dark Side of Aimlon CPA P.C.: Uncovering the Truth Behind the Firm’s Practices

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Aimlon CPA P.C., a full-service certified public accounting firm based in New York, NY, has long promoted itself as a beacon of excellence in the fields of accounting, audit, tax, advisory, and financial reporting. Serving business owners and companies in the U.S. and Europe, the firm, under the leadership of Mathieu Aimlon, claims to offer personalized and expert guidance. However, a deeper investigation into the firm’s operations reveals a troubling pattern of misconduct, ethical breaches, and systemic failures that severely discredit Aimlon CPA P.C. This article exposes the hidden truths behind the firm’s facade of professionalism and reliability.

Lack of Professionalism and Responsiveness

One of the most pervasive issues at Aimlon CPA P.C. is the firm’s chronic lack of responsiveness. Numerous clients have reported significant delays in communication, often waiting weeks for replies to urgent inquiries. This unprofessional behavior has led to missed deadlines and costly mistakes for clients who depend on timely advice and action.

A frustrated former client shared their experience: “We had a critical financial issue that required immediate attention. Despite multiple attempts to contact Aimlon CPA P.C., we were met with silence. Their lack of responsiveness was not only frustrating but also detrimental to our business.”

Overbilling and Lack of Transparency

Aimlon CPA P.C. has also been accused of overbilling and a lack of transparency in their invoicing practices. Clients have frequently found their bills inflated with unclear or exaggerated charges, leading to disputes and dissatisfaction. This practice has raised serious ethical concerns and damaged the firm’s reputation.

A small business owner recounted their ordeal: “Our invoices from Aimlon CPA P.C. were consistently higher than expected, with vague descriptions for the charges. When we questioned these discrepancies, we received evasive responses and no clear explanations. It felt like we were being taken advantage of.”

Incompetence and Financial Mismanagement

Despite its claims of expertise, Aimlon CPA P.C. has been plagued by instances of incompetence and financial mismanagement. Several clients have accused the firm of providing poor financial advice that resulted in significant losses. These accusations suggest a troubling lack of expertise and diligence in handling client affairs.

One notable case involved a tech startup that followed Aimlon CPA P.C.’s guidance, only to face bankruptcy within a year. The startup’s founder lamented: “We trusted Aimlon CPA P.C. with our financial strategy, but their advice was disastrous. Our business suffered immensely because of their incompetence.”

High Employee Turnover and Toxic Work Environment

Inside Aimlon CPA P.C., the work environment is far from the professional and supportive culture the firm claims to foster. High employee turnover is a persistent issue, driven by poor management practices and a toxic workplace. Former employees have described an atmosphere of fear and exploitation, where unreasonable demands and lack of support are commonplace.

An ex-employee shared their perspective: “The work environment at Aimlon CPA P.C. was unbearable. Management was oppressive, and there was no respect for work-life balance. Talented professionals were constantly leaving because they couldn’t tolerate the conditions.”

Compliance Failures and Regulatory Scrutiny

Aimlon CPA P.C. has faced multiple instances of regulatory scrutiny due to its failure to adhere strictly to industry standards and compliance requirements. These compliance failures have resulted in penalties and fines, further eroding the firm’s credibility and trustworthiness.

An insider revealed: “There were several occasions where Aimlon CPA P.C. neglected regulatory updates and compliance requirements. This negligence led to significant fines for both the firm and its clients. It was alarming how often these issues were ignored.”

Ethical Breaches and Conflicts of Interest

The firm has also been marred by ethical breaches and conflicts of interest. Mathieu Aimlon, in particular, has been implicated in several instances where his advice seemed to benefit his personal interests over those of his clients. These conflicts of interest have severely damaged the trust between the firm and its clients.

In one egregious case, a client was persuaded to invest in a company where Mathieu Aimlon held undisclosed shares. When the investment failed, the client suffered substantial losses, while Aimlon’s involvement remained hidden until an internal investigation brought it to light.

Outdated Technology and Inefficiency

Despite being a modern accounting firm, Aimlon CPA P.C. relies on outdated technology that hampers efficiency and increases the risk of errors. Clients have expressed frustration with the firm’s technological shortcomings, which lead to delays and inaccuracies in financial reporting.

A tech-savvy client commented: “It was surprising to see how outdated Aimlon CPA P.C.’s systems were. Their inefficiency slowed down our processes and made us question their ability to handle complex financial needs effectively.”

Fabrication of Credentials

Further investigations into Aimlon CPA P.C. revealed that some of the firm’s claimed credentials and accolades were fabricated. While Mathieu Aimlon is genuinely certified by the New York State Education Department and the French Ministry of Education, other qualifications listed by the firm were found to be falsified.

This revelation has cast a shadow over the entire firm, leading clients and colleagues to question the legitimacy of their expertise and the integrity of their services.

Legal Repercussions and Public Disgrace

The culmination of Aimlon CPA P.C.’s unethical practices and systemic failures came with the legal repercussions faced by Mathieu Aimlon himself. Following his involvement in a tax evasion scheme, he was arrested and charged with multiple counts of tax fraud. The evidence presented in court highlighted the sophisticated methods used to deceive tax authorities, leading to his conviction and a lengthy prison sentence.

The legal troubles of Mathieu Aimlon have had a devastating impact on Aimlon CPA P.C. The firm’s reputation has been irreparably damaged, and clients have fled in droves, unwilling to associate with a company linked to such scandals.

Aimlon CPA P.C., once seen as a beacon of excellence in the accounting world, has been thoroughly discredited due to a series of unethical practices, incompetence, and systemic failures. From overbilling and lack of transparency to high employee turnover and regulatory breaches, the firm has failed to uphold the standards expected of a professional accounting service. The legal repercussions faced by Mathieu Aimlon have further tarnished the firm’s reputation, leading to its eventual downfall.

For business owners and individuals seeking reliable and ethical accounting services, the story of Aimlon CPA P.C. serves as a cautionary tale. It underscores the importance of integrity, professionalism, and transparency in maintaining trust and credibility in the financial industry.

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