Cross Rate Calculation - Perfect Trend System

Some trading wisdom, tools and information I picked up along the way that helped me be a better trader. Maybe it can help you too.

Its a bit lengthy and I tried to condense it as much as I can. So take everything at a high level as each subject is has a lot more depth but fundamentally if you distill it down its just taking simple things and applying your experience using them to add nuance and better deploy them.
There are exceptions to everything that you will learn with experience or have already learned. If you know something extra or something to add to it to implement it better or more accurately. Then great! However, my intention of this post is just a high level overview. Trading can be far too nuanced to go into in this post and would take forever to type up every exception (not to mention the traders individual personality). If you take the general information as a starting point, hopefully you will learn the edge cases long the way and learn how to use the more effectively if you end up using them. I apologize in advice for any errors or typos.
Introduction After reflecting on my fun (cough) trading journey that was more akin to rolling around on broken glass and wondering if brown glass will help me predict market direction better than green glass. Buying a $100 indicator at 2 am when I was acting a fool, looking at it and going at and going "This is a piece of lagging crap, I miss out on a large part of the fundamental move and never using it for even one trade". All while struggling with massive over trading and bad habits because I would get bored watching a single well placed trade on fold for the day. Also, I wanted to get rich quick.
On top all of that I had a terminal Stage 4 case of FOMO on every time the price would move up and then down then back up. Just think about all those extra pips I could have trading both directions as it moves across the chart! I can just sell right when it goes down, then buy right before it goes up again. Its so easy right? Well, turns out it was not as easy as I thought and I lost a fair chunk of change and hit my head against the wall a lot until it clicked. Which is how I came up with a mixed bag of things that I now call "Trade the Trade" which helped support how I wanted to trade so I can still trade intra day price action like a rabid money without throwing away all my bananas.
Why Make This Post? - Core Topic of Discussion I wish to share a concept I came up with that helped me become a reliable trader. Support the weakness of how I like to trade. Also, explaining what I do helps reinforce my understanding of the information I share as I have to put words to it and not just use internalized processes. I came up with a method that helped me get my head straight when trading intra day.
I call it "Trade the Trade" as I am making mini trades inside of a trade setup I make from analysis on a higher timeframe that would take multiple days to unfold or longer. I will share information, principles, techniques I used and learned from others I talked to on the internet (mixed bag of folks from armatures to professionals, and random internet people) that helped me form a trading style that worked for me. Even people who are not good at trading can say something that might make it click in your head so I would absorbed all the information I could get.I will share the details of how I approach the methodology and the tools in my trading belt that I picked up by filtering through many tools, indicators strategies and witchcraft. Hopefully you read something that ends up helping you be a better trader. I learned a lot from people who make community posts so I wanted to give back now that I got my ducks in a row.
General Trading Advice If your struggling finding your own trading style, fixing weakness's in it, getting started, being reliably profitable or have no framework to build yourself higher with, hopefully you can use the below advice to help provide some direction or clarity to moving forward to be a better trader.
  1. KEEP IT SIMPLE. Do not throw a million things on your chart from the get go or over analyzing what the market is doing while trying to learn the basics. Tons of stuff on your chart can actually slow your learning by distracting your focus on all your bells and whistles and not the price action.
  2. PRICE ACTION. Learn how to read price action. Not just the common formations, but larger groups of bars that form the market structure. Those formations carry more weight the higher the time frame they form on. If struggle to understand what is going on or what your looking at, move to a higher time frame.
  3. INDICATORS. If you do use them you should try to understand how every indicator you use calculates its values. Many indicators are lagging indicators, understanding how it calculates the values can help you learn how to identify the market structure before the indicator would trigger a signal . This will help you understand why the signal is a lagged signal. If you understand that you can easily learn to look at the price action right before the signal and learn to watch for that price action on top of it almost trigging a signal so you can get in at a better position and assume less downside risk. I recommend using no more than 1-2 indicators for simplicity, but your free to use as many as you think you think you need or works for your strategy/trading style.
  4. PSYCOLOGY. First, FOMO is real, don't feed the beast. When you trade you should always have an entry and exit. If you miss your entry do not chase it, wait for a new entry. At its core trading is gambling and your looking for an edge against the house (the other market participants). With that in mind, treat as such. Do not risk more than you can afford to lose. If you are afraid to lose it will negatively effect your trade decisions. Finally, be honest with your self and bad trading happens. No one is going to play trade cop and keep you in line, that's your job.
  5. TRADE DECISION MARKING: Before you enter any trade you should have an entry and exit area. As you learn price action you will get better entries and better exits. Use a larger zone and stop loss at the start while learning. Then you can tighten it up as you gain experience. If you do not have a area you wish to exit, or you are entering because "the markets looking like its gonna go up". Do not enter the trade. Have a reason for everything you do, if you cannot logically explain why then you probably should not be doing it.
  6. ROBOTS/ALGOS: Loved by some, hated by many who lost it all to one, and surrounded by scams on the internet. If you make your own, find a legit one that works and paid for it or lost it all on a crappy one, more power to ya. I do not use robots because I do not like having a robot in control of my money. There is too many edge cases for me to be ok with it.However, the best piece of advice about algos was that the guy had a algo/robot for each market condition (trending/ranging) and would make personalized versions of each for currency pairs as each one has its own personality and can make the same type of movement along side another currency pair but the price action can look way different or the move can be lagged or leading. So whenever he does his own analysis and he sees a trend, he turns the trend trading robot on. If the trend stops, and it starts to range he turns the range trading robot on. He uses robots to trade the market types that he is bad at trading. For example, I suck at trend trading because I just suck at sitting on my hands and letting my trade do its thing.

Trade the Trade - The Methodology

Base Principles These are the base principles I use behind "Trade the Trade". Its called that because you are technically trading inside your larger high time frame trade as it hopefully goes as you have analyzed with the trade setup. It allows you to scratch that intraday trading itch, while not being blind to the bigger market at play. It can help make sense of why the price respects, rejects or flat out ignores support/resistance/pivots.
  1. Trade Setup: Find a trade setup using high level time frames (daily, 4hr, or 1hr time frames). The trade setup will be used as a base for starting to figure out a bias for the markets direction for that day.
  2. Indicator Data: Check any indicators you use (I use Stochastic RSI and Relative Vigor Index) for any useful information on higher timeframes.
  3. Support Resistance: See if any support/resistance/pivot points are in currently being tested/resisted by the price. Also check for any that are within reach so they might become in play through out the day throughout the day (which can influence your bias at least until the price reaches it if it was already moving that direction from previous days/weeks price action).
  4. Currency Strength/Weakness: I use the TradeVision currency strength/weakness dashboard to see if the strength/weakness supports the narrative of my trade and as an early indicator when to keep a closer eye for signs of the price reversing.Without the tool, the same concept can be someone accomplished with fundamentals and checking for higher level trends and checking cross currency pairs for trends as well to indicate strength/weakness, ranging (and where it is in that range) or try to get some general bias from a higher level chart that may help you out. However, it wont help you intra day unless your monitoring the currency's index or a bunch of charts related to the currency.
  5. Watch For Trading Opportunities: Personally I make a mental short list and alerts on TradingView of currency pairs that are close to key levels and so I get a notification if it reaches there so I can check it out. I am not against trading both directions, I just try to trade my bias before the market tries to commit to a direction. Then if I get out of that trade I will scalp against the trend of the day and hold trades longer that are with it.Then when you see a opportunity assume the directional bias you made up earlier (unless the market solidly confirms with price action the direction while waiting for an entry) by trying to look for additional confirmation via indicators, price action on support/resistances etc on the low level time frame or higher level ones like hourly/4hr as the day goes on when the price reaches key areas or makes new market structures to get a good spot to enter a trade in the direction of your bias.Then enter your trade and use the market structures to determine how much of a stop you need. Once your in the trade just monitor it and watch the price action/indicators/tools you use to see if its at risk of going against you. If you really believe the market wont reach your TP and looks like its going to turn against you, then close the trade. Don't just hold on to it for principle and let it draw down on principle or the hope it does not hit your stop loss.
  6. Trade Duration Hold your trades as long or little as you want that fits your personality and trading style/trade analysis. Personally I do not hold trades past the end of the day (I do in some cases when a strong trend folds) and I do not hold trades over the weekends. My TP targets are always places I think it can reach within the day. Typically I try to be flat before I sleep and trade intra day price movements only. Just depends on the higher level outlook, I have to get in at really good prices for me to want to hold a trade and it has to be going strong. Then I will set a slightly aggressive stop on it before I leave. I do know several people that swing trade and hold trades for a long period of time. That is just not a trading style that works for me.
Enhance Your Success Rate Below is information I picked up over the years that helped me enhance my success rate with not only guessing intra day market bias (even if it has not broken into the trend for the day yet (aka pre London open when the end of Asia likes to act funny sometimes), but also with trading price action intra day.
People always say "When you enter a trade have an entry and exits. I am of the belief that most people do not have problem with the entry, its the exit. They either hold too long, or don't hold long enough. With the below tools, drawings, or instruments, hopefully you can increase your individual probability of a successful trade.
**P.S.*\* Your mileage will vary depending on your ability to correctly draw, implement and interpret the below items. They take time and practice to implement with a high degree of proficiency. If you have any questions about how to do that with anything listed, comment below and I will reply as I can. I don't want to answer the same question a million times in a pm.
Tools and Methods Used This is just a high level overview of what I use. Each one of the actions I could go way more in-depth on but I would be here for a week typing something up of I did that. So take the information as a base level understanding of how I use the method or tool. There is always nuance and edge cases that you learn from experience.
Conclusion
I use the above tools/indicators/resources/philosophy's to trade intra day price action that sometimes ends up as noise in the grand scheme of the markets movement.use that method until the price action for the day proves the bias assumption wrong. Also you can couple that with things like Stoch RSI + Relative Vigor Index to find divergences which can increase the probability of your targeted guesses.

Trade Example from Yesterday This is an example of a trade I took today and why I took it. I used the following core areas to make my trade decision.
It may seem like a lot of stuff to process on the fly while trying to figure out live price action but, for the fundamental bias for a pair should already baked in your mindset for any currency pair you trade. For the currency strength/weakness I stare at the dashboard 12-15 hours a day so I am always trying to keep a pulse on what's going or shifts so that's not really a factor when I want to enter as I would not look to enter if I felt the market was shifting against me. Then the higher timeframe analysis had already happened when I woke up, so it was a game of "Stare at the 5 min chart until the price does something interesting"
Trade Example: Today , I went long EUUSD long bias when I first looked at the chart after waking up around 9-10pm Eastern. Fortunately, the first large drop had already happened so I had a easy baseline price movement to work with. I then used tool for currency strength/weakness monitoring, Pivot Points, and bearish divergence detected using Stochastic RSI and Relative Vigor Index.
I first noticed Bearish Divergence on the 1hr time frame using the Stochastic RSI and got confirmation intra day on the 5 min time frame with the Relative Vigor Index. I ended up buying the second mini dip around midnight Eastern because it was already dancing along the pivot point that the price had been dancing along since the big drop below the pivot point and dipped below it and then shortly closed back above it. I put a stop loss below the first large dip. With a TP goal of the middle point pivot line
Then I waited for confirmation or invalidation of my trade. I ended up getting confirmation with Bearish Divergence from the second large dip so I tightened up my stop to below that smaller drip and waited for the London open. Not only was it not a lower low, I could see the divergence with the Relative Vigor Index.
It then ran into London and kept going with tons of momentum. Blew past my TP target so I let it run to see where the momentum stopped. Ended up TP'ing at the Pivot Point support/resistance above the middle pivot line.
Random Note: The Asian session has its own unique price action characteristics that happen regularly enough that you can easily trade them when they happen with high degrees of success. It takes time to learn them all and confidently trade them as its happening. If you trade Asia you should learn to recognize them as they can fake you out if you do not understand what's going on.

TL;DR At the end of the day there is no magic solution that just works. You have to find out what works for you and then what people say works for them. Test it out and see if it works for you or if you can adapt it to work for you. If it does not work or your just not interested then ignore it.
At the end of the day, you have to use your brain to make correct trading decisions. Blindly following indicators may work sometimes in certain market conditions, but trading with information you don't understand can burn you just as easily as help you. Its like playing with fire. So, get out there and grind it out. It will either click or it wont. Not everyone has the mindset or is capable of changing to be a successful trader. Trading is gambling, you do all this work to get a edge on the house. Trading without the edge or an edge you understand how to use will only leave your broker happy in the end.
submitted by marcusrider to Forex [link] [comments]

No, the British did not steal $45 trillion from India

This is an updated copy of the version on BadHistory. I plan to update it in accordance with the feedback I got.
I'd like to thank two people who will remain anonymous for helping me greatly with this post (you know who you are)
Three years ago a festschrift for Binay Bhushan Chaudhuri was published by Shubhra Chakrabarti, a history teacher at the University of Delhi and Utsa Patnaik, a Marxist economist who taught at JNU until 2010.
One of the essays in the festschirt by Utsa Patnaik was an attempt to quantify the "drain" undergone by India during British Rule. Her conclusion? Britain robbed India of $45 trillion (or £9.2 trillion) during their 200 or so years of rule. This figure was immensely popular, and got republished in several major news outlets (here, here, here, here (they get the number wrong) and more recently here), got a mention from the Minister of External Affairs & returns 29,100 results on Google. There's also plenty of references to it here on Reddit.
Patnaik is not the first to calculate such a figure. Angus Maddison thought it was £100 million, Simon Digby said £1 billion, Javier Estaban said £40 million see Roy (2019). The huge range of figures should set off some alarm bells.
So how did Patnaik calculate this (shockingly large) figure? Well, even though I don't have access to the festschrift, she conveniently has written an article detailing her methodology here. Let's have a look.
How exactly did the British manage to diddle us and drain our wealth’ ? was the question that Basudev Chatterjee (later editor of a volume in the Towards Freedom project) had posed to me 50 years ago when we were fellow-students abroad.
This is begging the question.
After decades of research I find that using India’s commodity export surplus as the measure and applying an interest rate of 5%, the total drain from 1765 to 1938, compounded up to 2016, comes to £9.2 trillion; since $4.86 exchanged for £1 those days, this sum equals about $45 trillion.
This is completely meaningless. To understand why it's meaningless consider India's annual coconut exports. These are almost certainly a surplus but the surplus in trade is countered by the other country buying the product (indeed, by definition, trade surpluses contribute to the GDP of a nation which hardly plays into intuitive conceptualisations of drain).
Furthermore, Dewey (2019) critiques the 5% interest rate.
She [Patnaik] consistently adopts statistical assumptions (such as compound interest at a rate of 5% per annum over centuries) that exaggerate the magnitude of the drain
Moving on:
The exact mechanism of drain, or transfers from India to Britain was quite simple.
Convenient.
Drain theory possessed the political merit of being easily grasped by a nation of peasants. [...] No other idea could arouse people than the thought that they were being taxed so that others in far off lands might live in comfort. [...] It was, therefore, inevitable that the drain theory became the main staple of nationalist political agitation during the Gandhian era.
- Chandra et al. (1989)
The key factor was Britain’s control over our taxation revenues combined with control over India’s financial gold and forex earnings from its booming commodity export surplus with the world. Simply put, Britain used locally raised rupee tax revenues to pay for its net import of goods, a highly abnormal use of budgetary funds not seen in any sovereign country.
The issue with figures like these is they all make certain methodological assumptions that are impossible to prove. From Roy in Frankema et al. (2019):
the "drain theory" of Indian poverty cannot be tested with evidence, for several reasons. First, it rests on the counterfactual that any money saved on account of factor payments abroad would translate into domestic investment, which can never be proved. Second, it rests on "the primitive notion that all payments to foreigners are "drain"", that is, on the assumption that these payments did not contribute to domestic national income to the equivalent extent (Kumar 1985, 384; see also Chaudhuri 1968). Again, this cannot be tested. [...] Fourth, while British officers serving India did receive salaries that were many times that of the average income in India, a paper using cross-country data shows that colonies with better paid officers were governed better (Jones 2013).
Indeed, drain theory rests on some very weak foundations. This, in of itself, should be enough to dismiss any of the other figures that get thrown out. Nonetheless, I felt it would be a useful exercise to continue exploring Patnaik's take on drain theory.
The East India Company from 1765 onwards allocated every year up to one-third of Indian budgetary revenues net of collection costs, to buy a large volume of goods for direct import into Britain, far in excess of that country’s own needs.
So what's going on here? Well Roy (2019) explains it better:
Colonial India ran an export surplus, which, together with foreign investment, was used to pay for services purchased from Britain. These payments included interest on public debt, salaries, and pensions paid to government offcers who had come from Britain, salaries of managers and engineers, guaranteed profts paid to railway companies, and repatriated business profts. How do we know that any of these payments involved paying too much? The answer is we do not.
So what was really happening is the government was paying its workers for services (as well as guaranteeing profits - to promote investment - something the GoI does today Dalal (2019), and promoting business in India), and those workers were remitting some of that money to Britain. This is hardly a drain (unless, of course, Indian diaspora around the world today are "draining" it). In some cases, the remittances would take the form of goods (as described) see Chaudhuri (1983):
It is obvious that these debit items were financed through the export surplus on merchandise account, and later, when railway construction started on a large scale in India, through capital import. Until 1833 the East India Company followed a cumbersome method in remitting the annual home charges. This was to purchase export commodities in India out of revenue, which were then shipped to London and the proceeds from their sale handed over to the home treasury.
While Roy's earlier point argues better paid officers governed better, it is honestly impossible to say what part of the repatriated export surplus was a drain, and what was not. However calling all of it a drain is definitely misguided.
It's worth noting that Patnaik seems to make no attempt to quantify the benefits of the Raj either, Dewey (2019)'s 2nd criticism:
she [Patnaik] consistently ignores research that would tend to cut the economic impact of the drain down to size, such as the work on the sources of investment during the industrial revolution (which shows that industrialisation was financed by the ploughed-back profits of industrialists) or the costs of empire school (which stresses the high price of imperial defence)

Since tropical goods were highly prized in other cold temperate countries which could never produce them, in effect these free goods represented international purchasing power for Britain which kept a part for its own use and re-exported the balance to other countries in Europe and North America against import of food grains, iron and other goods in which it was deficient.
Re-exports necessarily adds value to goods when the goods are processed and when the goods are transported. The country with the largest navy at the time would presumably be in very good stead to do the latter.
The British historians Phyllis Deane and WA Cole presented an incorrect estimate of Britain’s 18th-19th century trade volume, by leaving out re-exports completely. I found that by 1800 Britain’s total trade was 62% higher than their estimate, on applying the correct definition of trade including re-exports, that is used by the United Nations and by all other international organisations.
While interesting, and certainly expected for such an old book, re-exporting necessarily adds value to goods.
When the Crown took over from the Company, from 1861 a clever system was developed under which all of India’s financial gold and forex earnings from its fast-rising commodity export surplus with the world, was intercepted and appropriated by Britain. As before up to a third of India’s rising budgetary revenues was not spent domestically but was set aside as ‘expenditure abroad’.
So, what does this mean? Britain appropriated all of India's earnings, and then spent a third of it aboard? Not exactly. She is describing home charges see Roy (2019) again:
Some of the expenditures on defense and administration were made in sterling and went out of the country. This payment by the government was known as the Home Charges. For example, interest payment on loans raised to finance construction of railways and irrigation works, pensions paid to retired officers, and purchase of stores, were payments in sterling. [...] almost all money that the government paid abroad corresponded to the purchase of a service from abroad. [...] The balance of payments system that emerged after 1800 was based on standard business principles. India bought something and paid for it. State revenues were used to pay for wages of people hired abroad, pay for interest on loans raised abroad, and repatriation of profits on foreign investments coming into India. These were legitimate market transactions.
Indeed, if paying for what you buy is drain, then several billions of us are drained every day.
The Secretary of State for India in Council, based in London, invited foreign importers to deposit with him the payment (in gold, sterling and their own currencies) for their net imports from India, and these gold and forex payments disappeared into the yawning maw of the SoS’s account in the Bank of England.
It should be noted that India having two heads was beneficial, and encouraged investment per Roy (2019):
The fact that the India Office in London managed a part of the monetary system made India creditworthy, stabilized its currency, and encouraged foreign savers to put money into railways and private enterprise in India. Current research on the history of public debt shows that stable and large colonies found it easier to borrow abroad than independent economies because the investors trusted the guarantee of the colonist powers.

Against India’s net foreign earnings he issued bills, termed Council bills (CBs), to an equivalent rupee value. The rate (between gold-linked sterling and silver rupee) at which the bills were issued, was carefully adjusted to the last farthing, so that foreigners would never find it more profitable to ship financial gold as payment directly to Indians, compared to using the CB route. Foreign importers then sent the CBs by post or by telegraph to the export houses in India, that via the exchange banks were paid out of the budgeted provision of sums under ‘expenditure abroad’, and the exporters in turn paid the producers (peasants and artisans) from whom they sourced the goods.
Sunderland (2013) argues CBs had two main roles (and neither were part of a grand plot to keep gold out of India):
Council bills had two roles. They firstly promoted trade by handing the IO some control of the rate of exchange and allowing the exchange banks to remit funds to India and to hedge currency transaction risks. They also enabled the Indian government to transfer cash to England for the payment of its UK commitments.

The United Nations (1962) historical data for 1900 to 1960, show that for three decades up to 1928 (and very likely earlier too) India posted the second highest merchandise export surplus in the world, with USA in the first position. Not only were Indians deprived of every bit of the enormous international purchasing power they had earned over 175 years, even its rupee equivalent was not issued to them since not even the colonial government was credited with any part of India’s net gold and forex earnings against which it could issue rupees. The sleight-of-hand employed, namely ‘paying’ producers out of their own taxes, made India’s export surplus unrequited and constituted a tax-financed drain to the metropolis, as had been correctly pointed out by those highly insightful classical writers, Dadabhai Naoroji and RCDutt.
It doesn't appear that others appreciate their insight Roy (2019):
K. N. Chaudhuri rightly calls such practice ‘confused’ economics ‘coloured by political feelings’.

Surplus budgets to effect such heavy tax-financed transfers had a severe employment–reducing and income-deflating effect: mass consumption was squeezed in order to release export goods. Per capita annual foodgrains absorption in British India declined from 210 kg. during the period 1904-09, to 157 kg. during 1937-41, and to only 137 kg by 1946.
Dewey (1978) points out reliability issues with Indian agriculutural statistics, however this calorie decline persists to this day. Some of it is attributed to less food being consumed at home Smith (2015), a lower infectious disease burden Duh & Spears (2016) and diversified diets Vankatesh et al. (2016).
If even a part of its enormous foreign earnings had been credited to it and not entirely siphoned off, India could have imported modern technology to build up an industrial structure as Japan was doing.
This is, unfortunately, impossible to prove. Had the British not arrived in India, there is no clear indication that India would've united (this is arguably more plausible than the given counterfactual1). Had the British not arrived in India, there is no clear indication India would not have been nuked in WW2, much like Japan. Had the British not arrived in India, there is no clear indication India would not have been invaded by lizard people, much like Japan. The list continues eternally.
Nevertheless, I will charitably examine the given counterfactual anyway. Did pre-colonial India have industrial potential? The answer is a resounding no.
From Gupta (1980):
This article starts from the premise that while economic categories - the extent of commodity production, wage labour, monetarisation of the economy, etc - should be the basis for any analysis of the production relations of pre-British India, it is the nature of class struggles arising out of particular class alignments that finally gives the decisive twist to social change. Arguing on this premise, and analysing the available evidence, this article concludes that there was little potential for industrial revolution before the British arrived in India because, whatever might have been the character of economic categories of that period, the class relations had not sufficiently matured to develop productive forces and the required class struggle for a 'revolution' to take place.
A view echoed in Raychaudhuri (1983):
Yet all of this did not amount to an economic situation comparable to that of western Europe on the eve of the industrial revolution. Her technology - in agriculture as well as manufacturers - had by and large been stagnant for centuries. [...] The weakness of the Indian economy in the mid-eighteenth century, as compared to pre-industrial Europe was not simply a matter of technology and commercial and industrial organization. No scientific or geographical revolution formed part of the eighteenth-century Indian's historical experience. [...] Spontaneous movement towards industrialisation is unlikely in such a situation.
So now we've established India did not have industrial potential, was India similar to Japan just before the Meiji era? The answer, yet again, unsurprisingly, is no. Japan's economic situation was not comparable to India's, which allowed for Japan to finance its revolution. From Yasuba (1986):
All in all, the Japanese standard of living may not have been much below the English standard of living before industrialization, and both of them may have been considerably higher than the Indian standard of living. We can no longer say that Japan started from a pathetically low economic level and achieved a rapid or even "miraculous" economic growth. Japan's per capita income was almost as high as in Western Europe before industrialization, and it was possible for Japan to produce surplus in the Meiji Period to finance private and public capital formation.
The circumstances that led to Meiji Japan were extremely unique. See Tomlinson (1985):
Most modern comparisons between India and Japan, written by either Indianists or Japanese specialists, stress instead that industrial growth in Meiji Japan was the product of unique features that were not reproducible elsewhere. [...] it is undoubtably true that Japan's progress to industrialization has been unique and unrepeatable
So there you have it. Unsubstantiated statistical assumptions, calling any number you can a drain & assuming a counterfactual for no good reason gets you this $45 trillion number. Hopefully that's enough to bury it in the ground.
1. Several authors have affirmed that Indian identity is a colonial artefact. For example see Rajan 1969:
Perhaps the single greatest and most enduring impact of British rule over India is that it created an Indian nation, in the modern political sense. After centuries of rule by different dynasties overparts of the Indian sub-continent, and after about 100 years of British rule, Indians ceased to be merely Bengalis, Maharashtrians,or Tamils, linguistically and culturally.
or see Bryant 2000:
But then, it would be anachronistic to condemn eighteenth-century Indians, who served the British, as collaborators, when the notion of 'democratic' nationalism or of an Indian 'nation' did not then exist. [...] Indians who fought for them, differed from the Europeans in having a primary attachment to a non-belligerent religion, family and local chief, which was stronger than any identity they might have with a more remote prince or 'nation'.

Bibliography

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Hickel, Jason (2018). How the British stole $45 trillion from India. The Guardian
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Monbiot, George (2020). English Landowners have stolen our rights. It is time to reclaim them. The Guardian
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Dalal, Sucheta (2019). IL&FS Controversy: Centre is Paying Up on Sovereign Guarantees to ADB, KfW for Group's Loan. TheWire
Chaudhuri, K.N. (1983). X - Foreign Trade and Balance of Payments (1757–1947). Cambridge University Press
Sunderland, David (2013). Financing the Raj: The City of London and Colonial India, 1858-1940. Boydell Press
Dewey, Clive (1978). Patwari and Chaukidar: Subordinate officials and the reliability of India’s agricultural statistics. Athlone Press
Smith, Lisa (2015). The great Indian calorie debate: Explaining rising undernourishment during India’s rapid economic growth. Food Policy
Duh, Josephine & Spears, Dean (2016). Health and Hunger: Disease, Energy Needs, and the Indian Calorie Consumption Puzzle. The Economic Journal
Vankatesh, P. et al. (2016). Relationship between Food Production and Consumption Diversity in India – Empirical Evidences from Cross Section Analysis. Agricultural Economics Research Review
Gupta, Shaibal (1980). Potential of Industrial Revolution in Pre-British India. Economic and Political Weekly
Raychaudhuri, Tapan (1983). I - The mid-eighteenth-century background. Cambridge University Press
Yasuba, Yasukichi (1986). Standard of Living in Japan Before Industrialization: From what Level did Japan Begin? A Comment. The Journal of Economic History
Tomblinson, B.R. (1985). Writing History Sideways: Lessons for Indian Economic Historians from Meiji Japan. Cambridge University Press
Rajan, M.S. (1969). The Impact of British Rule in India. Journal of Contemporary History
Bryant, G.J. (2000). Indigenous Mercenaries in the Service of European Imperialists: The Case of the Sepoys in the Early British Indian Army, 1750-1800. War in History
submitted by GaslightEveryone to u/GaslightEveryone [link] [comments]

NEX AMA Answers!

Some of the NEX team went through the questions asked a couple of days ago, but due to the answers being posted sporadically, i thought it might be better collating answers and reposting for visibility!
I highly recommend reading through if you are interested in NEX!
    NEX team marked as
U = u/Unignorant, C = u/Canesin, L = u/Localalhost_coz  
Original post here
Q: What is the NEX marketing plan to grow in terms of a customer base ? And how far is the team away from a finished product? During most of the interviews I noticed the team reference comparison to Binance, how does the interface match binance in a decentralized environment? (u/sheldonbraganza)
(U)We will have a complete product out on TestNet in Q2, and a fully working cross-chain exchange on the NEO and Ethereum networks in Q3.
NEX is marketing to two primary groups of users: (1) Mainstream users who want an easier experience buying altcoins with cryptocurrency. Through our network of banking partners, we will make it easy for anyone in the world to buy tokens on NEO, ETH (and eventually other chains) using their national currencies. (2) Bots and traders: we aim to have best-in-class trading APIs for high performance, computational trading. We will have better and faster APIs than today's centralized exchanges, with the added benefit of these systems running on decentralized networks
The point of our off-chain matching engine tech is to enable the same (or better!) usability as an exchange like Binance, while keeping around the decentralized model. The off-chain engine makes trading just as performant as today's centralized exchanges, and makes it much easier to support the kind of cross-chain trading functionality that has long been a pipe dream for decentralized exchanges. We are very much inspired by other exchanges like Coinbase in this regard, and we will be the first DEX to achieve this.
(C) Just to remember that NEX is also going after costumers that usually are not considered by other exchanges with its features to facilitate peer to peer payments requests, invoicing and tipping/gifts.
Q:Can you elaborate on NEX staking? The whitepaper was fuzzy about it and had terms like "staking percentage". (u/r3dh4r7)
(U) The NEX staking rate will be from 25-75%. Committing to stake for one day gives a rate of 25%, which increases linearly to a rate of 75% if you are willing to stake for 2 years By staking rate, we mean the percentage of revenue you will get from NEX fee collection proportional to the tokens you hold. For example, if you hold 10% of all NEX tokens and are staking at a rate of 75%, then you will receive .10 * .75 = 7.5% of all fee revenue generated by NEX over that period.
We will confirm these details in an updated white paper release coming out today or tomorrow. ~ If you commit for two years, the first year will still be at 75%.
Q:How soon do you introduce Fiat pairs? (u/coinonymous1)
(U) Our network of banking partners will begin to go live in Q2. That means users will be able to enter the ecosystem with national currencies through the NEX extension and web-based exchange interface.
(C) To clarify, this are not direct trading pairs on the exchange itself (i.e. JPY/NEX) but a easy method to on ramp and cashout using the tools. Users will be able to acquire NEO and GAS with fiat and any other tokens traded at NEX will be using the exchange itself.
Q: The chrome extension is great but why should I still rely on desktop to access NEX interface ? When can we expect Iphone/ Android App? (u/cryptobuddy_1712)
(U) We are planning native android/iOS apps. Depending on how fast we can grow, they may be out by Q3.
(C) Mobile presence is a complex topic, depending of how much of the full experience you want to provide - that will depend on the support shown by 3rd party wallets, if they adopt NEX APIs.
Q: Will you guys be supporting Ledger integration any time soon? Nex chrome add-on, Nex exchange integration...?! Plans to list the Nex token on other exchanges before the release of your own? What are the plans to continue supporting Neon wallet now that Nex came out with their extension for chrome? Will Nex exchange introduce fiat deposits/withdrawals? (u/mihai_ss)
(U) Yes, ledger is on the roadmap. We cannot comment on other exchange listings right now. We love and will continue to support Neon wallet (you are speaking to its creator :) as a great desktop wallet and complementary partner to our extension. NEX will support national currencies in/out of the exchange through our network of banking partners.
(C) Not only ledger but hardware wallets in general. Ledger is priority currently given that it is quite popular in NEO. We have to have in mind that NEX is trying to do a lot of different things to make usage easier to new users (that probably don't have a ledger!), there is currently about 96k users of it (more than this sub) so we will focus on fixing the corner cases and issues that appears frequently with such large user base first.
Q:More and more people are using mobile apps for trading. Don't you think nex should also have its own iOS and Android app. Are the API being developed future proof to integrate with mobile apps for trading and seeing candle charts. (u/Cryptobanku)
(U) We agree with the power for mobile, and future proofing the API is 100% on our mind. Longer term, we are planning native iOS/android apps.
Q:So NEX is a security right? What does that mean exactly? The Token only will be available on the neon exchange? In order to get the exchange dividends are we gonna be forced to put our tokens on stake mode? If so, once we put our tokens on stake mode does that mean we are not gonna be able to move them or sell them for a specific period of time? (u/sersimovi)
(U) NEX is a registered European security. It will be traded on NEX exchange, but that is not the only place it will be traded (I cannot say more than that right now). Being a registered security is amazing for investors. It means that all of the sketchy things that so often happen with cryprocurrencies/tokens (things like market manipulation or insider trading) are made explicitly illegal. It also means that we, as a company, go through an extensive audit. For that, we have partnered with the top tier accounting firm Ernst and Young.
The staking model means that you commit to staking your NEX for a certain amount of time to receive a share of fee revenue. The minimum amount of time you can stake NEX is one day. The maximum time you can stake is two years. While staked, you cannot move or sell the NEX tokens.
(C) All that plus the investor don't need to fear it will crash because someone classified it as a security in the future.
Q:When will the official sale date be announced and when will the official tokens per neo be determined? (u/rborsb9)
(L) We are still working with our legal partners to determine a final sale date, but it will be sometime at the end of April. The tokens per Neo/Gas will be determined from the 10 day moving average of the price before the sale begins.
Q:What do you think sets NEX apart from the countless other DEXs that are starting up right now? Why should people invest in NEX vs Switcheo/Etherdelta/Binance(once they release)?
(U) NEX will be the first usable, performant, and cross-chain DEX. Out of all the exchanges you mentioned, none of them are using an off-chain matching engine, which quite simply means none of them can do what we are doing.
In addition to that, NEX has by far the most generous revenue share model of any exchange you have mentioned. This is because we are embracing being a security (not hiding behind some questionably legal utility token). The people who invest in us will be treated very well by this model.
As for competitors: Switcheo unfortunately doesn't work. There is no volume, and the SC is broken (or at least didn't work when I tried it; the transaction failed and it stole the small amount of GAS I tried to trade). Etherdelta has higher volume but still ridiculously low overall. And again, just try to use Etherdelta... it is a usability disaster. There is really no comparison here. Binance might do something interesting, if they decide to do anything. But we have better technical talent than Binance, so I am not too worried.
Q:What % volume neon exchange will support compared with top centralized exchanges? Thanks big neo fan! (u/myfriendbaubau)
(U) We will support just as much volume as today's centralized exchanges.
Q: Will NEX have a stable coin? (u/masi252)
(U) We have looked into various implementations and ideas surrounding stable coins and have determined that it is not something we are planning on doing in the near future.
Cont: What about when Alchemint releases? (u/Bing0to)
(C) We wanted to do a fundamental strong stable coin that was capital efficient. Unfortunately there is some pre-requisites for that to be possible that currently is lacking in crypto markets. We will continue to monitor how this space evolves and our ideas are stored waiting the future when they can be applied.
Q:Can we expect the erc20 token trading earlier than q3? (u/markerizza)
(U) Q3 is the current roadmap projection. It is possible it will happen earlier depending on our growth.
Q: Will the token sale be via smart contract, so that we recieve our tokens right away? (u/Ebrii)
(U) Yes
Q: will you guys have an official subreddit and telegram anytime soon? (u/markerizza)
(U) No, we dislike the idea of project oriented telegrams. There are too many opportunities for scammers. We may have a subreddit in the future, but not anytime soon.
Q: What is the plan to get liquidity on the platform? It seems to be the biggest problem with current DEXs. (u/Mutedtommy)
(U) We have strategic partnerships for this. We are also working with other partners to develop some nice APIs for high performance trading.
Q: On the site you say that the ORIGINAL winners can participate in the second round (9000$) options, do you mean only the first round lottery winners or the first and second round winners combined? (u/FrancoisFrancis)
(U) Any lottery winners (whether first or second draw) have the opportunity to participate in both rounds 1 and 2. Please see this medium post for clarification: https://medium.com/neon-exchange/nex-extension-and-lottery-q-a-667e56f58e4a
Q: If you chose to participate in round 2 from the KYC process, does that mean you are guaranteed a spot? The medium article seems to indicate there will be an additional lottery from those who selected that option to see who from round one is eligible for round 2. (u/DwyerMatt)
No one is guaranteed a spot in round 2. It is even possible (though extremely unlikely) that all NEX is sold out in round one. This would happen if everyone who is selected goes through KYC and participates at 100%. (U)
Q: Will NEX tokens only be tradeable on NEX or is there a chance of it being listed on other exchanges like Binance? (u/Frank_Sinatra88)
(U) See an answer above. Not just NEX, but I can't say more than that right now.
Q: How do you see NEO compare to other coins on its network ? Like another coin could be valued more than NEO itself ? And will NEX always be bound to NEO? (u/BN_Boi)
(U) It is unlikely but possible that a NEP5 token could eventually achieve a higher marketcap than NEO itself.
NEX is not bound to NEO much at all. Our token will live as a NEP5 on NEO, and that is how users will receive staking rewards, but we will support trading very early on Ethereum as well.
(C) Google runs atop of other companies infrastructure (telecom providers), but it is valued more than all of them. The same thing can (and probably will) happen in token land, it will just take a while - when infrastructure becomes less important than applications and platforms atop of it. Like with the internet.
NEX behind the scenes (as the DEX is cross-chain from start) is using NEO capabilities, but the future of both is broad and uncertain. As a long term strategy the NEX company will do what it can to improve its underling technology and remove risk from its business.
Q: Is there a vesting period for the half of available NEX tokens that will not be sold during the ICO? (u/ETHERjimbo)
(U) The founder and employee tokens (25%) will vest over two years.
Q: Whitepaper uses an example $100m in the fee distribution calculation. If NEX is truly a security token and the whitepaper is your prospectus then you must provide further data on fwd looking statements. The NEX token gives the right to fee distribution. Given this you must provide assumption based forecasts on expedited fees over the next 3 years. This will support price discovery. How can the market properly price the token when fee expectations are unknown.(u/nsheahan82)
(C) Fee structure is defined on whitepaper and version v1.1 contains a example section as stated. Version v2.0 (to be released very soon) contains the actual staking portion (25% to 75% linear over two years growth on staking).
Guess work on the volume would in reality be very indigenous, look at volume behavior market wise (https://coinmarketcap.com/currencies/bitcoin/#charts) so much variation. Following the 3 years trend we could say trading volume will be bigger than the world economy, clearly that is not happening.
Q: Would NEX Staking be a 50% or 75% as stated on the whitepaper? (u/GMDaddy)
(C)See answer above, it starts at 25% and goes up to 75%. The increase is linear and maximum period is 2 years.
Cont: By linear, you mean like as an option where the user has the choice on picking whether to stake it from 25% up into 75%?
(C)No, when you start staking it starts at 25% and by linear I mean it increases at a constant rate of about 2.08% per month for two years until it reach 75%.
(U)To clarify fabio's comment: yes, you can choose a fixed rate of 75% by committing to stake for two years.
Q: A massive attraction to NEX is the prospect of decentralised banking. What makes decentralised banking better than traditional banking? (u/kabelofthe3rd)
(C)Our goal is to facilitate crypto trading at large, this touches from usage of applications to investing passing by funds management and invoicing solutions. What this enables is a digital cashless economy, we call it the smart economy. In the smart economy users are in control of their funds using this advanced technological tools to perform the tasks above and current banking solutions are no longer needed.
Q: Once NEX is rolled out, what will be the easiest way for US residents to buy some stake? I'm aware it's going to be issued as a security so I'm thinking the NEX token will only be tradable on NEX itself because most non decentralized exchanges will not list security's or tokens that don't pass the Howet Test. Is this correct?(u/Cozmo525)
(C)You are correct, for US persons you will need to wait other licensed exchanges list NEX or we acquire the proper licenses to allow US people to trade securities. Whatever happens first =)
Q: Can I stake only NEX or also other Token f.e. NEO? (u/masi252)
(C) NEO doesn't need to be staked, you already can claim GAS on NEX extension.
Q: How do you plan to compete with Switcheo when they have first movers advantage and will be live for months before your platform will be? (u/toneeey1)
(C)We plan to compete with anyone in our market by providing better products.
Q: Will TNC be utilized? (u/molly1nora)
(C)That is not planned, NEX has it own custom scaling solutions already in development.
Q: Do you see exchanges not listing NEX, due to the fact that you guys are direct competition? (u/detnah)
(C)That is a tricky question, I believe competition will not be with every exchange - in special centralized ones, as CEX they will more focused in national markets and we are going after broad chain level trade.
Q: Is there a chance in the future you will also introduce other coins to the exchange sich as ERC-20 tokens etc? If so you'd blow all competition out the water. (u/Frank_Sinatra88)
(C)Yes, ERC-20 tokens will be supported by Q3 together with NEP-5.
Q: Will NEX APIs support mobile Dapps or Wallets? (u/johndon96)
(C)Both, APIs are in general not target to a specific application, is up to the developers to use it in their products.
Q: What are the team's plans to make NEX the best decentralized exchange and one of the best projects ever released? (u/its_me_TAG)
(C)We will be working close to our costumers, never afraid of breaking status quo and never ending improvements. NEX will never be done.
Q: Are there any plans to open up some Nex-Stores in several spots around the Globe? (u/michaeluebelhart)
(C)No, but will have a online swag store :D
Q: Is it possible that in the long future to have forex pairs listed on NEX? (u/BR8889)
(C)In a future where fiat has token representations or stable coins are indeed stable.
Q: When will we see the updated Whitepaper? (I know for example that you plan to integrate ERC20 tokens earlier than mentioned in the original Whitepaper) (u/mambor)
(C) Target is this weekend. We could delay if redacting detects things that should be changed/improved.
Q: What is your go-to-market strategy? (u/Dux_AMS)
(C) We already have >100k users. ;)
submitted by menofthenorth to NEO [link] [comments]

NUPay - The New Crypto-Payment Platform

NUPay - The New Crypto-Payment Platform

https://preview.redd.it/z69w1g60i5x21.png?width=640&format=png&auto=webp&s=334fde8c2099cfa8a0866768e85ce7c605fdb8d8
Fintech businesses that have risen to tackle these difficulties are rapidly developing money associated basis round the globe via a combination of the Internet and fund.

Under the new framework, NUPay Team illuminates the farthest factor of the digital cash use in indistinguishable shape from respectable cash to sketch unique administrations for advance, settlement, useful resource the board, and so forth in the cryptographic cash advertise.

For advantageous use, as even though in affiliation with set up business organizations, we will work with present FinTech groups to provide easy get admission to to economic administrations through digital currency, and we are looking out for methods to crew up.

NUPay will begin by way of propelling NUPay, our across the board installment stage, in Korea at a opening length and alongside these lines growing to different parts of the world, in the cease prompting the production of a blockchain biological community that empowers a international on-and disconnected installment framework dependent on NUPay Protocol and NUPay Platform.

What precisely is NUPay?

As depicted above and as indicated on the respectable whitepaper of Nupay, NUPay platform is a blockchain-based marketplace which ensures transparency of transactions made on the platform. Transparency of transactions ensures that consumers can take higher care of their property and thereby keep away from being ripped off. Blockchain science has made extremely good strides presenting attainable options to age-long problems that has plagued humanity. For example, Bitcoin and ethereum have delivered about modern thoughts and ideas that have been of so a great deal assist to humanity such as forex and smart contracts which has helped in finance, manufacturing, health and other sectors of the economy.

In addition, NUPAY is a financial fee platform that will assist in connecting both the retailers and the users in the platform. To make the task a successful one, they have launched their own native token (TPCT) which will be used in the platform as a medium of transaction exchange. NUPAY has made a partnership deal with the Korean ONLINE and OFFLINE stores which will help in the scalability of the TPCT token.


https://preview.redd.it/plb5eknji5x21.jpg?width=640&format=pjpg&auto=webp&s=e57fd062084def7e5437870f494c315b5147fee8
NUPay Blockchain System

The NUPay Blockchain, which is the premise among NUPay, shippers and clients, will distributively store all trade associated subtleties, such as account balance, alternate subtleties, and installment addresses, on the ace hub. An ace hub that consists of of one or severa hubs, if needed,can make some other gadget for it is exact with hubs that can be pre-approved.

Further, NUPay Blockchain System's unified document and decentralized stage are related to the dependability and unwavering first-rate of the modern-day present installment portal frameworks. This implies digital cash can utilized similarly as the reputable or fiat cash, which is overseen as a gathering thru the NUPay Blockchain's gathering procedure, and it does decentralized administration.

Each adjustment in the blockchain requires a lion's share of cross-hub network understanding. Bitcoin, the primary cryptographic money, utilized the PoW calculation to gain concurrence on the exchange books of all Bitcoin hubs. Be that as it may, this calculation isn't virtually used in conditions that require instant installment because of very reasonable speed.

To tackle the difficulty of this type of calculation and preserve up installment administration exactness, NUPay allows grasp between networks to be come to in the course of each time with the aid of a hub that has experienced a progression of pre-approved procedures. At the factor when the network of hubs achieves an understanding, the old agreement archives are disbursed with, and new information are made as the most latest blockchain status. The approval hubs of the NUPay Blockchain keep up a comparable remaining records. Henceforth, the NUPay Blockchain gives an installment framework that encourages and does an precise trade with no deferral or time slip by, not at all like some current trade forms.

https://preview.redd.it/17a7g2tyi5x21.png?width=1182&format=png&auto=webp&s=fd0b584872222e2962de8787cbdbbacc842e7e8a
About The TPCT Token

The platform utility token is recognised as ‘TPCT’, it can be used to buy items or services thru this platform. The TPCT token will resolve the problem of cryptocurrency usability via the NUPay Partnership with important fee gateways companies, present card, and reward point issuers, and on and offline merchants.

TPCT token will be used as a transaction certificate when the user buys a service. Every transaction procedure will be dealt with with the aid of clever contracts and cross-chain web hosting technological know-how to make certain the authenticity, legality, and compliance. TPCT token will be used with the aid of the consumer and vendor for transacting; it will be in a position to achieve a real-time agreement and put off the chance and value concerned with the traditional way of charge on present platforms.

Token Details

https://preview.redd.it/qs54sy0bj5x21.png?width=640&format=png&auto=webp&s=e00ef12be0f0994c5380f94a028133393df0b389
Roadmap

https://preview.redd.it/gvbhdy8dj5x21.png?width=640&format=png&auto=webp&s=7a30f3c4b9736e956db91a3c076288063032d4ac
Team Nupay

https://preview.redd.it/tttrchbfj5x21.png?width=1327&format=png&auto=webp&s=28f5756537c3d6b498bcaa954d4b2545d034a465
We recommend that you familiarize yourself with the official source of the NUPay project:

NUPAY official website: http://nupayment-alliance.com
TPCT official website: http://www.tpct.io
Telegram channel: https://t.me/NUPay_English_Community
Whitepaper project: http://www.tpct.io/ index.php # section-2
ANN thread: https://bitcointalk.org/index.php?topic=5097440.0
Official Facebook: https://www.facebook.com/NUPayKorea/
Official Twitter: https://twitter.com/NUPayTeam

Name of Bitcointalk profile: bountykispoy
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2179671
submitted by hawrepius to CryptocurrencyReviews [link] [comments]

The Bloomberg Finance Lab

The Bloomberg Terminal (aka Bloomberg Professional Services) connects finance professionals to a dynamic network of information, people, and ideas. At the core of this network is the ability to deliver real-time data to finance professionals around the world.
The main value added services provided by Bloomberg Terminal are:
  1. Data
  2. News
  3. Analytics
These services are provided through innovative, proprietary technology, that quickly and accurately provides financial information to individuals and across enterprises around the world.
A world leader in providing market data information across the globe through its websites, apps and dedicated feeds and software products, Bloomberg offers a variety of tools available on free and paid basis, allowing finance professionals to use them in their research, analysis and related trading activities. Bloomberg’s coverage includes all possible financial securities ranging from equities, fixed income, derivatives, commodities, forex and OTC products, across the globe.

Bloomberg website:

The official Bloomberg website offers a wealth of free and subscription based tools and utilities, most offering customized views as per regions/markets.

Symbol Lookup Service:

Introduced couple of years back, Bloomberg Open Symbology tool offers Symbol lookup service and mapping of different symbols (SEDOL, CUSIP, ISIN, Stock exchange ticker, etc.) at global level. Individual traders as well as large investment firms having a need to consolidate data sourced from multiple sources with different symbols use this service. For e.g. a mutual fund company may take 2 different data feeds – one from Bloomberg containing Bloomberg symbol and other from Stock exchange containing local ticker. Symbology service enables cross referencing to validate data across two sources with different tickers.
Apart from the generic Open Symbology service, the widely followed Bloomberg symbols can be accessed through its dedicated symbol search tool.

Bloomberg Professional Products & Services:

The paid professional products and tools available from Bloomberg offer coverage across 360+ exchanges, 24000+ companies, global currency markets, and includes recently launched bitcoin coverage. These products and tools today are used by more than 315,000 subscribers across 175 countries, demonstrating the depth and variety of offerings from Bloomberg.
Bloomberg Market data terminal remains the most saleable product for both individual and enterprise use. A good 2 pager Getting Started Guide is available for introduction to financial analysis tools available within the Bloomberg Terminal. Apart from usual charts, graphs, technical indicators and market data coverage, one of the key selling points of Bloomberg Terminals is its instant messaging feature which enables easy communication across individuals, dedicated workgroups and even Bloomberg representatives for assistance.
Bloomberg Briefs: A dedicated service in the form of digital newsletters for the global financial markets, Bloomberg Brief offers insights into sector or region specific areas in PDF format.
Briefs for following categories are published daily – Bankruptcy & Restructuring, Economics, Economics Asia, Economics Europe, London, Municipal Market and Oil. Publication for other categories is weekly – China, Clean Energy & Carbon, Financial Regulation, Hedge Funds Europe, Hedge Funds, Leveraged Finance, Mergers, Private Equity, Structured Notes and Technical Strategies.
Such wide varieties of tools offered by Bloomberg come with lots of portability. All website based functionality can be accessed through standard browsers on mobiles and tablets, and even professional products offer portability for mobile and remote access through desktops, laptops, tablets and smartphones.

Bloomberg Enterprise Solutions

At the enterprise level, Bloomberg offers dedicated data feeds, pricing, reference and market data, news and information services to meet the needs of large financial enterprises employing financial analysts, traders and researchers. The Bloomberg trading solutions, offer connectivity and integration for buy side and sell side institutional clients. These find usage in complementing the OMS (Order management system), and recent EMS (Execution management system), for trade execution.
N L Dalmia has set up Mumbai’s first Bloomberg Finance Lab with 12 Bloomberg terminals, offering students extremely focused and high end knowledge programs with a high degree of practical learning and on-the-job applicability. Learning mba in mumbai from N L Dalmia is a step towards boosting one's career.
submitted by dipika20 to MBAinIndiaExplained [link] [comments]

The Bloomberg Finance Lab Launched at N L Dalmia Campus Mumbai

The Bloomberg Terminal (aka Bloomberg Professional Services) connects finance professionals to a dynamic network of information, people, and ideas. At the core of this network is the ability to deliver real-time data to finance professionals around the world.
The main value added services provided by Bloomberg Terminal are:
  1. Data
  2. News
  3. Analytics
These services are provided through innovative, proprietary technology, that quickly and accurately provides financial information to individuals and across enterprises around the world.
A world leader in providing market data information across the globe through its websites, apps and dedicated feeds and software products, Bloomberg offers a variety of tools available on free and paid basis, allowing finance professionals to use them in their research, analysis and related trading activities. Bloomberg’s coverage includes all possible financial securities ranging from equities, fixed income, derivatives, commodities, forex and OTC products, across the globe.

Bloomberg website:

The official Bloomberg website offers a wealth of free and subscription based tools and utilities, most offering customized views as per regions/markets.

Symbol Lookup Service:

Introduced couple of years back, Bloomberg Open Symbology tool offers Symbol lookup service and mapping of different symbols (SEDOL, CUSIP, ISIN, Stock exchange ticker, etc.) at global level. Individual traders as well as large investment firms having a need to consolidate data sourced from multiple sources with different symbols use this service. For e.g. a mutual fund company may take 2 different data feeds – one from Bloomberg containing Bloomberg symbol and other from Stock exchange containing local ticker. Symbology service enables cross referencing to validate data across two sources with different tickers.
Apart from the generic Open Symbology service, the widely followed Bloomberg symbols can be accessed through its dedicated symbol search tool.

Bloomberg Professional Products & Services:

The paid professional products and tools available from Bloomberg offer coverage across 360+ exchanges, 24000+ companies, global currency markets, and includes recently launched bitcoin coverage. These products and tools today are used by more than 315,000 subscribers across 175 countries, demonstrating the depth and variety of offerings from Bloomberg.
Bloomberg Market data terminal remains the most saleable product for both individual and enterprise use. A good 2 pager Getting Started Guide is available for introduction to financial analysis tools available within the Bloomberg Terminal. Apart from usual charts, graphs, technical indicators and market data coverage, one of the key selling points of Bloomberg Terminals is its instant messaging feature which enables easy communication across individuals, dedicated workgroups and even Bloomberg representatives for assistance.
Bloomberg Briefs: A dedicated service in the form of digital newsletters for the global financial markets, Bloomberg Brief offers insights into sector or region specific areas in PDF format.
Briefs for following categories are published daily – Bankruptcy & Restructuring, Economics, Economics Asia, Economics Europe, London, Municipal Market and Oil. Publication for other categories is weekly – China, Clean Energy & Carbon, Financial Regulation, Hedge Funds Europe, Hedge Funds, Leveraged Finance, Mergers, Private Equity, Structured Notes and Technical Strategies.
Such wide varieties of tools offered by Bloomberg come with lots of portability. All website based functionality can be accessed through standard browsers on mobiles and tablets, and even professional products offer portability for mobile and remote access through desktops, laptops, tablets and smartphones.

Bloomberg Enterprise Solutions

At the enterprise level, Bloomberg offers dedicated data feeds, pricing, reference and market data, news and information services to meet the needs of large financial enterprises employing financial analysts, traders and researchers. The Bloomberg trading solutions, offer connectivity and integration for buy side and sell side institutional clients. These find usage in complementing the OMS (Order management system), and recent EMS (Execution management system), for trade execution.
NLDIMSR has set up Mumbai’s first Bloomberg Finance Lab with 12 Bloomberg terminals, offering students extremely focused and high end knowledge programs with a high degree of practical learning and on-the-job applicability.
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Calculating the Cross Rate with Bid - Ask FOREX Quotes ... Financial Management - Forex - Exchange Rate quotes Cross Rate Calculation Cross Currency Calculations (Forex)  CA Final SFM (New ... Lesson 2 - Pair characteristics (the majors and the crosses) Foreign Exchange Rates - Cross Rates - YouTube Forex Cross Rates

Cross rates are the relation of two currencies against each other, based on the rate of each of them against a third currency. For example, the Bank of England sells or purchases euros for yen. To calculate the cross rate of the EURJPY, the bank will use the dollar quotes for the two pairs, EURUSD and USDJPY.As such, the Ask and Bid quotes of EURJPY will be calculated as follows: Bid EURJPY ... In this article, we will give you details on how the cross rate calculation works. Most of the financial websites and charting platforms today automatically give you the cross currency exchange rates. However, if you are speculating in the forex markets, then it is essential to understand how the cross rate calculation works and you can have a ... A cross rate refers to the exchange rate between two currencies when neither are the domestic currency of the country in which the quote is given. With this background, we can now go to the calculation of the cross exchange rate. This will involve deriving it from the exchange rate of the non-USD currency and the USD. However, this is not always necessary as some rates are usually quoted on various forex platforms. A classic example is of the GBP/JPY. Cross rate calculators can be a great tool but before you start using it you should ... How to Derive a Cross Rate for an Indirect Quote & Indirect Quote: Rule: divide the base currency by the terms currency on opposite sides of the spread. Example: Derive the rate for GBPEUR Bid Ask; GBPUSD: 1.9850: 1.9950: GBP is base, USD is terms: EURUSD: 1.3460: 1.3520: EUR is base, USD is terms: The GBPEUR Bid rate = divide the base currency bid by the terms currency ask = 1.9850 / 1.3520 ... If the USD/CHF rate is 1.5000-10 and USD/JPY is 100.00-10 for a CHF/JPY cross rate, the bid would be 100.00 divided by 1.5010 or 66.6223 JPY/CHF; the offer would be 100.10 divided by 1.5000 or 66 ... In this article, we shall show you how to derive this exchange rate – known as the ‘cross rate’ – from the exchange rates between two non-USD currencies and the USD. While this might not always be necessary with the most common crosses, such as GBP/JPY, the rates for which are usually quoted directly on forex platforms and websites, it can come in useful when you are trading cross ...

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Calculating the Cross Rate with Bid - Ask FOREX Quotes ...

A brief demonstration on calculating the cross rate between currencies, when dealing with Bid - Ask Quotes We simplify your financial learnings. Subscribe here to learn more of Strategic Financial Management: https://goo.gl/HTY5SN CA Final SFM Fast Track Course:... Learn how Forex cross-rates work. 10 Websites That Will Pay You DAILY Within 24 hours! (Easy Work From Home Jobs) - Duration: 13:08. Kevin David Recommended for you A brief demonstration on computing the cross rate between currencies. Understanding Forex Pairs Forex pairs are divided into two broad categories. There are the majors that include the most frequently traded and most liquid cur... More videos at http://facpub.stjohns.edu/~moyr/videoonyoutube.htm Cross Currency Calculations (Forex) CA Final SFM (New Syllabus) Classes & Videos - Duration: 25:09. CA Nikhil Jobanputra 25,402 views. 25:09. CFA Level II: Currency Exchange Rates: Determination ...

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