Large companies whose goal is not to squeeze out deposits from the trader, but to make money on high level service - these are the partners with whom you can really find the answer to the question of how to make money on Forex.

If a trader enters this currency arena for the first time, then, first of all, it is worth taking basic training courses. It is best to do this with the same company where you opened the account.

There are now both full-time and correspondence courses ( webinars), in which the main function of the foreign exchange market and the opportunities it opens are conveyed in accessible language. Next, it is important to pay attention to your own. Any trade leads to serious emotional experiences. So, the trader must choose the strategy that brings him the least discomfort.

It is impossible to work on the stock exchange only at breakeven. Sooner or later, the trader will record his first losses.

It is important that these losses are conscious, and the person knows where he made a mistake, why and what to do next. Patience and discipline are the grail that leads to income.

In more detail, the investor shouldn't be dependent on any news sources. Everything you need is already reflected in the price. Today there are tools that allow you to calculate trading plans. Having understood the work of several approaches, you can build some of your own strategies and try to put them into practice.

Will not work. Although brokers such as minimum deposit, that is, you can replenish as much as you want, but still, there must be some kind of initial capital. Yes, it may be very small, but you won’t be able to become a millionaire with 100 dollars. The account needs to be replenished regularly.

The same coin also has another side: trade for the sake of trade. It shouldn't be this way. Work for foreign exchange market must pursue a tangible goal. It must be some kind of material benefit, under which you will need to withdraw your earned money. Withdrawing earnings is also a very important feature of profitable trading. Set yourself a small goal to start with.

For example, pay 30% of the cost of a new car with market profits.

If your deposit is very small, start by going to a cafe. Earn it with your own mind, and then gradually raise the bar. To understand how to make money on forex market, you need to be able to change yourself and your thinking to match market trends, because there is nothing more constant than changeability.

Video about making money on Forex

Watch a video about how to make money on the Forex market today:

Now you need to specify the UP or DOWN condition, whether the quote will be higher or lower from the current moment when the option is closed.

Our analytics shows that the quote will rise, since the price has stopped at and does not break through it again.

We pressed the button UP and BUY:

If after 7 minutes the quote of the currency pair is higher by at least 0.00001 points, then we will earn 73% of the profit.

Options are very simple and straightforward, which is a huge plus. Look at the chart at the time the trade was closed:

The price went up, and we with the investment $80 returned $138.4 , including net profit 73% or $58.4 :

It often happens that trends are set for years, for example, as happens with Japanese currency, when the Central Bank of Japan sets programs to lower the yen exchange rate for several years, and after that there are rollbacks, also for years:

Knowing such subtleties, for example, that from mid-2012 Japan adopted a program to reduce the currency for 2 years, it was much safer to play bullish for the USD/JPY or EUR/JPY pair, even if only technical analysis was taken into account in the work.

If you decide to make money on the Forex market, then you need to follow these steps.

Before studying the material related to direct trading on the stock exchange, it is necessary to study the future field of activity, decide what Forex is in general and by what basic principles it functions.

Forex (Forex - FOReign EXchange Market) is an international foreign exchange market, the goods on which are the currencies of different countries. There are buyers and sellers on the exchange, and trades are opened in a continuous stream.

There is no fixed platform for currency trading, as there is for commodity or. The currency market operates around the clock from 00.00 Monday to 24.00 Friday. The exchange is closed on weekends. There are several key centers of currency trading (modern exchanges) in the world, therefore the trading day is conditionally divided into 3 sessions:

1. Asian
2. European
3. American

Forex what is it?

How did the Forex market appear?

Initially, platforms for committing foreign exchange transactions(in fact, the purchase of one currency for another) were intended for state and large private banks performing various operations in foreign currencies. But soon the number of market participants began to actively grow with the arrival of those who are now commonly called traders. In those days they were “speculators”, but, as now, they make a profit from the difference, the current exchange rate value of the selected instrument.

In theory, everything is simple: an asset is bought at a low price and sold at a higher price, or first sold at an inflated price and then bought back at a lower price. However, to learn how to predict even minimal price movements, it is not enough to read several books or watch a dozen videos about successful traders.

Trading Forex is as simple as funding your account and opening a trade, but understanding how to trade Forex profitably requires taking into account many factors. Let's look at them in more detail.

What is better Forex or binary options?

Definitely Forex and there are several proofs of this:

• There is no real multimillionaire in the world who made a fortune from binary options alone;
• In Forex trading, you can exit a transaction at any time; in BO, after entering the market, you can only wait;
• The BO broker is always in the black, since in case of a loss the trader loses 100% of what was entered into the transaction, and in case of a win he receives from 40 to 95%;
• 98% of binary options brokers do not have a license or receive it from dubious registrars in offshore zones.

These are just the most popular arguments in favor of traditional Forex. In the process of studying the question of how to play Forex, you will find a lot of reasons that it is better not to mess with binary options, and if you want originality in your work, look for yourself in the stock and commodity markets.

Choosing a reliable Forex broker

A reliable partner is the key to the successful implementation of your plans, therefore the question of choosing him should be approached above all else. The field of Forex trading and related areas are filled with unscrupulous companies and outright scammers, which means that a beginner in trading needs to follow the criteria for assessing the reliability of a broker:

• Age is the most important factor in determining the reliability of a financial company. On the Internet, any information spreads very quickly, which means that any mistake or problem with a broker company becomes public within a matter of days.
• Licensing - without it, the company does not have the right to operate in principle. It is issued by international regulators (Australian ASIC, Belize IFSC, UK IFC and others). Each regulator places in the appropriate section information about the companies for which documents have been issued and everyone can receive this information. Check the availability of a license from the companies selected in the first step;
• Trading conditions - since trading is a lengthy process, it is worth studying the conditions under which the broker operates. The secrets of working on Forex lie not only in the trading system, but also in minimizing commissions and payments, for example, spreads, which bite off a small part on each transaction. However, when recalculating the cost of one point of the spread for several hundred or thousand transactions, it turns out that the company has earned quite a bit from you. Look for the most favorable trading conditions. Make a comparison;
• Training - a person who is just learning what Forex is, who is interested in how to work on Forex as a beginner, needs a competent explanation of the main points. Every serious broker offers not only analytics, but also training materials tailored for different levels of training, real-time seminars, etc., which will help a new client learn how to play on the stock exchange. The important thing here is that it is not necessary to trade where training is better; the materials are mostly free and you can use them immediately after registering with the company and try to make money on Forex without investing on a demo account.
• Payment systems - their range is an excellent indicator of reliability. Before starting to earn money, a market participant must invest. Major electronic payment systems, for example, WebMoney, check the reliability of the companies with which they do business, right up to licensing. The more popular payment systems are represented, the more reliable the future partner;
• Reviews - there are many forums and thematic resources on the Internet with the topic “how to start trading on Forex”. At each forum, experienced players express their opinions and share their experiences about cooperation with certain companies. Here, company representatives answer questions, resolve problems and misunderstandings. While studying such forums and projects, form your own opinion about the brokers remaining after the first step, ask questions to those who work with them and company representatives to make your final decision.

When a potential partner has passed all the tests and inspections and the time has come to top up, limit yourself to a trial deposit with minimum amount. There is a lot to learn and it will be a great disappointment if the money runs out halfway through the journey.

Many who get acquainted with the Forex market wonder whether it is possible to make money on Forex without investments? The answer is yes, it’s possible, but you won’t be able to get serious results quickly.

Some brokers offer no deposit bonuses for new clients of the company. In essence, they give real money so that he can learn Forex in real trading. The amounts of such bonuses are small, but quite suitable for cent accounts. This money is not available for withdrawal, but all profits from it remain.

Currency pairs

There are many of them, and you can make a profit from each. But to understand how to make money on Forex, you need to choose one pair. In the future, expanding the range of traded currency pairs or metals is at the discretion of the trader; at first it is better to concentrate on a specific pair, for example, EUR/USD.

All information received about the Forex market during the study process should relate to the selected instrument, at least indirectly. There is no need to get into the weeds of general analytics or track news that is not related to the selected pair - this will be an extra burden and introduce ambiguity into the process.

How to learn to trade Forex?

At first glance, the answer seems obvious - a demo account with no options. However, this decision is wrong. Many books and courses on “how to make money on Forex from scratch” consider only the technical side of trading. Find a working trading system, follow its signals and bring the number of profitable trades to a level higher than unprofitable ones and you will be happy.

If we consider the question of how to play Forex for a beginner, the key point should be psychology, not mechanics. A trading robot can simply follow a ready-made system, but only a trained person can penetrate the psychology of the crowd, overcome their own barriers and fears and emerge victorious from the transaction.

A demo account offers an exciting game on the stock exchange for a beginner. The broker advises “trade as you want, lose and earn - it’s just candy wrappers.” And this advice is far from the best. Agree, when we learn, in addition to the positive, the negative result is also important. Reviewing victories and defeats leads to identifying errors, correcting them and/or preventing them from happening in the future, and thus improving trading.

On a demo account there is no risk of losing real money, however, there is no bitterness from losing the money you earned with your own hands or the joy of increasing it. It is this psychological aspect that tips the scales in favor of starting trading with a cent or minimum real account before the demo. The learning process will become much more complete, and each profit will slightly replenish your account with small but real money.

Switch to classic account

The cent account has no special restrictions and you can always trade on it; with experience, the player understands that he needs to open a standard trading account. You need to follow several rules in order not to be disappointed in trading:

• Ready trading system. Borrowed from others or developed independently.
• Your own readiness, primarily psychological, to work with a much larger amount than in a cent account. Therefore, before starting to play Forex, I chose a cent one, not a demo one;
• Monetary freedom. The entire amount, down to the last cent, that will be deposited into the trading account may be lost. If a trader is not prepared to lose money, he will not be able to soberly assess the risk, which will lead to defeat.
• Management. In the question of how to trade Forex correctly, this thesis is more important than others and the last place is deliberately reserved for it in order to emphasize its importance against the background of what has already been read.

The concept of proper risk distribution is extremely important for every trader. Trading discipline (compliance with signals trading system) ensures the predominance of profits over losses. It is risk management that minimizes losses and allows profits to grow.

The traditional risk per transaction is 2% of the deposit. Maximum amount, which may be lost as a result of the Stop Loss order being triggered - 2%.

Profit orders limit the growth of the deposit, but they are a requirement of the trading system. It is not uncommon for the price, having passed the established Take Profit order, to move further. To extract maximum profit, there is a method when the transaction volume is divided into two orders. The first closes at profit, and the second includes a trailing stop when the price breaks through the order and moves until the first serious pullback.

A full-fledged account should advantageously combine the advantages of trading on the chosen instrument and the chosen trading strategy. If the TS involves opening transactions for several days, the conditions must be with a minimum swap (broker's commission for transferring a position to the next day). When trading intraday, the spread should be minimal. These are the unspoken secrets of the markets, not described in books.

Break even

It becomes a turning point for the trader. Stabilization of trade, when the final recalculation of the deposit at the end of the month shows that there is a profit or managed to break even, is an indicator that the participant has reached one of the peaks and is ready to move on. Now, the trader himself can tell a beginner how to trade Forex. However, the goal of Forex trading is to obtain a constant income, which means the deposit should be expanded by reinvesting the profits. Reinvestment is the investment of funds received in the form of profit on existing assets into the same or another asset.

In our case, there are three options for competent management of the profit received:

• Full reinvestment. An excellent solution for accelerating your deposit to a comfortable level as quickly as possible.
• Partial reinvestment. An excellent bookmark for the future, when 50% of profits are reinvested, and 50% are withdrawn from the system and stored in a reliable currency. This is what forward-thinking traders do when they understand how the market works. Force majeure situations can lead to the loss of a large portion of the deposit due to the inability to cancel the transaction;
• Full withdrawal of funds. This decision is made to cover current urgent expenses or when the amount on deposit reaches the ceiling (this is a concept when a trader is afraid to manage a larger amount and therefore makes mistakes when analyzing the market and opening transactions).

We looked at what Forex is and how to make money on Forex from scratch. In one article or in a series of books it is impossible to give comprehensive advice on Forex, where to start, how to start, how to avoid problems. Sign up for a free training course, our traders will clearly explain how to make money on Forex from scratch.

Market makers play an important role in Forex, you could even say that they create the market situation. To trade successfully, traders must understand what is happening in the market and who is moving it. Who are market makers, and what does a trader need to know about them?

Who are market makers really?

On financial market The largest participants are always present, performing the largest percentage of trading operations. Thanks to the ability to operate with huge volumes of liquidity, such players can directly influence price formation.

For reference! Market Maker is translated from English as “market creator.” These are active market participants who, through their actions, are able to move prices, pushing them towards the desired indicators.

Many believe that market makers should necessarily act as counterparties to small traders, thus providing asset liquidity. However, this is not the only type of activity of MM. The following groups can be distinguished among market makers:

1. Institutional. Such participants have an obligation to the exchange to maintain trading volume by buying and selling assets. They stabilize the level of prices, supply and demand - that is, liquidity.
2. Speculative. Any large, but private market participants who, by performing trading operations with large volumes, are able to create impulses in the market, pursuing their own goals.

Some beginners mistakenly believe that MMs can independently set prices and completely control the market situation, that is, they act as real puppeteers. This is wrong. Market makers are the same traders, but they are capable of creating some volatility in the market with their large transactions.

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Professional market makers who have agreements with exchanges perform the following functions:

1. Create additional liquidity. If there are 50 buy lots and 55 sell lots in the market, it is the MM's responsibility to add an additional 5 buy lots.
2. They create a two-way quote - the MM always trades against the trend or crowd. That is, if the price rises, MM makes a sale, if the price falls, then buys.
3. Keep the quote within certain limits. When the price stays in the same range for a long time, more transactions are concluded. Since MM also makes money on the spread, this situation is beneficial for him.

MM may be large banks, and other companies that have entered into an agreement with exchanges. Market makers make the market accessible to private traders, brokers and DCs. Often there are unexpected price jumps in the market with noticeable gaps. Traders and some experts believe that this is the work of market makers, they act in a similar way in order to knock out small traders, and their money, accordingly, remains on the exchange.

Important! In Forex, market makers provide the so-called flat, in which the market is 70% of the time.

With the help of MM, brokers receive current quotes, so market makers can be called liquidity providers.

Many traders use techniques technical analysis in your trading (in the form of indicators) to determine entry points. However, market makers do not care what buy signals the MACD gave to its user. Therefore, there is an opinion that for effective trading you need to use the same methods as the “market creators”. But can the average trader trade in the same ways as MM? After all, for the latter it will be extremely unprofitable.

Nuance! Some brokers provide tools that allow traders to trade at least a little on the MM side.

How do big players trade?

The Forex market is decentralized, so the exchange instruments inherent in other markets, such as NASDAQ, are not available there. Forex traders can only see the price chart and are guided by its readings. Other market sentiments, and most importantly, information about how participants are going to act, are not available to ordinary traders.

In turn, MMs are not interested in quotes, tick volumes and indicator readings. They do not need this information, since it has already passed. The market maker carries out analysis vertically, that is, it measures the depth of the market using information about placed stop losses, take profits and pending orders.

Using this information, MMs can clearly determine “where the crowd is going.” They always trade against the crowd to push prices to new levels.

Important! Large participants cannot single-handedly reverse the price or change the global trend for a long time, but they can stabilize the situation by first forcing some small speculators to close with stop losses.

How to determine the entry point of a major player on a Forex chart? This is extremely difficult for the foreign exchange market. Its entry is not reflected by gaps or unexpected reversals. MM earns the most money at a time when the market is in a flat. During a strong trend, he may suffer losses, so he will do everything to quickly stop the strong movement directed against his positions.

For example, a market maker wants to purchase a currency. He is looking for the best price for himself. In the market depth table, he can determine the level where sell orders and Stop Loss for open buy positions accumulate. Their volume satisfies MM's consumer demand. With small orders, MM pushes the price to the desired concentrations and performs all sell operations. Limiters help to restrain further price movement.

What then should traders do? Try to trade against the crowd, just like a market maker does. Many brokers provide a depth of market, which shows the depth of the market. This is not at all the same tool as MM's. And an ordinary trader will never have access to it, because otherwise market makers would lose their profits. But, nevertheless, brokers can show the situation for traders who trade with them. That is, the same levels of stop losses, take profits and pending orders. Stop-Loss levels should not be placed in places of accumulation, otherwise they will simply be knocked out.

Despite the popular belief that “the trend is your friend,” Forex market makers strongly disagree with this. Therefore, the strategy of “trading against the crowd,” that is, the MM strategy, has become widespread.

Market makers have several sources of income:

• spreads;
• remuneration from exchanges for intermediary activities;
• arbitrage income;
• carrying out speculative transactions;
• investment.

However, MMs are also beneficial for traders. Market makers smooth out strong price fluctuations. The more such participants are present in trading on a certain instrument, the narrower the spreads for it.

Most often, MMs will try to return the market to flat. In these situations, professional private traders make a profit, while inexperienced ones can lose, not understanding how and for what reasons the market moves. Having an understanding of the work of market makers, traders will be able to understand how the price chart moves and where to look for successful entry points.

When starting to trade on the foreign exchange market, few people usually think about how exactly it works, who supplies quotes to whom, sells currency, and so on. Traders think more about trading conditions, the quality of order execution, the speed of withdrawal of funds, etc. But if a speculator suffers systematic losses, then bad thoughts begin to creep into his head regarding the fact that some mysterious Forex market maker, also known as a doll, watches his steps and deliberately puts a spoke in his wheels, not allowing him to earn money.

Against the backdrop of losses in most cases, unfortunate traders begin to write reviews on forums and websites that brokers or market makers on Forex move quotes, manipulating the rate in order to rob honest small speculators. Oddly enough, such opinions are sometimes voiced by very serious traders. To understand how objective statements about such a “world conspiracy” are, you should learn something about those who stand behind the scenes of the financial market.

What is a market maker?

To begin with, every trader must become familiar with the market mechanism, as well as with the goals that individual participants pursue in it. This will help you understand your place in the system, which will provide certain advantages, since the activities of each participant are accompanied by the presence of their own strengths and weaknesses. Then, the next time he gives an order to buy or sell a currency, the trader will have a clear idea of ​​what can happen and when, at what price the order will be executed, and why sometimes there are significant differences between the current quotes and those at which the transaction will be opened.

Since the advent of exchange platforms until today, when Forex has gained popularity, market makers have been and are called financial structures that guarantee the liquidity of financial assets and act as counterparties to transactions, forcing limit orders on the exchange order book. Forex exchange market makers include commercial banking institutions, brokers, hedge funds, etc. If we translate market maker from English, then in Russian it will sound like the one who makes the market, that is, this is a key participant thanks to whom market mechanisms can generally function.

Of course, foreign exchange Forex market is decentralized, but still the trading participants are closely interconnected. Small private traders have to work with the help of brokerage companies acting as intermediaries. They, in turn, are forced to cooperate with market makers on Forex - the largest banks and other financial organizations.

Approximately the relationship between individual small and large traders, serious investors and speculators, large banks and brokers can be seen in the following diagram.

Usually on trading platforms There are always many Forex market makers who pursue their goals and compete with each other, helping to reduce the spread, which is very good for small participants. The responsibilities of a market maker include ensuring liquidity, that is, they are required to act as counterparties to transactions even when no one has the desire to buy/sell on the market. That is, they actually form the price, supporting it when the market is falling, and stopping the rise if quotes suddenly rush upward.

Among the Forex market makers there are especially large ones that control more than half money turnover. Considering that trillions of dollars are traded on the foreign exchange market every day, you can roughly imagine the scale of these participants, among whom are:

1. Citybank is the largest Forex market maker located in the United States.
2. Deutsche Bank is a German bank not far behind.
3. Royal Bank of Scotland Group (RBS) from the UK confidently holds bronze.
4. Barclays, also from the UK, is slightly inferior to RBS.
5. UBS from Switzerland rounds out the top five.

Smaller financial sharks include: Morgan Stanley, Bank of America and JP Morgan. These are American banks that actively influence, first of all, trading in the dollar, New York Stock Exchange indices, etc. If we take the Asian region, Mizuho Bank and Standard Chartered Bank have great influence there. When trading in pairs with the Russian ruble and financial assets MICEX needs to take into account UniCredit and Rosbank.

Such monsters trade directly at the interbank level, where the standard order size is 5 million USD! Even many banks do not allow themselves to move such capital, so they join forces when the need arises to purchase a contract. For this purpose, there are so-called pools, and applications in them are brought together by prime brokers - large banks that have direct access to the interbank level.

For small market participants, prime brokers act as Forex market makers themselves. They enter into agreements with ordinary brokers, who are guaranteed liquidity and acceptance of applications from 10 thousand USD.

The broker, which makes a profit from the markup on the spread (markup), as well as from various types of commissions, through prime brokers, provides small private traders with access to the interbank market. With this scheme, the broker is happy, earning money from clients and not risking anything, and the traders themselves are also happy, since with their deposits, which are insignificant for market makers on Forex, they gain access to interbank liquidity.

It is easy to see that this scheme does not involve price manipulation by Forex market makers and this is true! Their main task is to prevent chaos and panic by containing prices and guaranteeing liquidity. Therefore, to suggest that they are after someone's pennies is simply ridiculous!

Brokers' work patterns

Now it’s worth considering how the brokers themselves work, since not all of them bring transactions to the Forex makers’ market or do this not in every case.

Some brokers receive quotes from news agencies, but do not send client orders to the interbank market. These are the so-called kitchens or dealing centers (DCs), which make a profit if the client suffers a loss.

Other brokers themselves constitute a pool, accumulating traders' transactions in one direction and then bringing them to the interbank market. This system of overlapping positions is called matching. Here the broker himself does not influence the development of events, since orders are combined and sent automatically.

Eg, Forex broker Exness acts as a small Forex market maker and at the same time a prime broker. The company directly offers trading services to individuals and, in addition, accepts orders from other brokers, providing them with execution on the interbank foreign exchange market.

The picture above shows the operating principle of such a structure. It is easy to notice that the amount of transactions for 112 lots received in Exness did not end up on the interbank market, since counterparties were found for them within the system. For example, trader Sasha from Russia wanted to buy 1 lot of EUR/USD, and a speculator from China at the same moment wanted to sell 1 lot of EUR/USD. So in this case, Exness acted as a market maker and combined 2 orders in the opposite direction.

At the same time, another 122 lots did not find their counterparties within the system, so Exness brought them to the interbank level, where large market makers acted as counterparties. That is, with such a system, large market participants cannot even know whose orders they are executing, so it is stupid to assume that, for example, City Bank with a billion-dollar turnover will strive to calculate trader Vasya’s position for 10 thousand dollars with a leverage of 1:100 , to move the price, spending hundreds of millions of dollars on it, and knock out his stop.

Inefficiencies of large capital

As part of their basic policy, large Forex market makers are forced to conduct foreign exchange transactions. But in this case, they always enter with limit orders and take a long time to gain a sideways position. This is very important to understand. A major participant will never buy or sell on the market, since its volumes will cause wild slippage and the average price will not be acceptable.

To prevent such impulses or takeaways, market makers exist. Therefore, when they themselves need to buy/sell, they act exclusively with pending orders, which they often themselves notify other participants about.

Therefore, even with the help of a regular chart, it is not difficult to notice situations when a major player gains a position. He cannot act without creating a narrow flat with large trading volumes, so he always gives himself away. This is the key inefficiency of large capital, which is actively used by small private traders who understand how market makers work in the Forex market.

What strategies do serious players not like?

Since traders working from home trade in small volumes, it is easy for them to instantly enter and exit the market with minimal slippage. In this regard, some of them take advantage of this by profiting from the inefficiency of Forex market makers.

The latter are forced to struggle with strategies that are undesirable for them. The list of such systems looks like this:

1. HFT trading is high-frequency trading with the help of advisors, creating the so-called toxic order flow. Such robots create many positions on all sides, forming castles and earning 1-5 points of net profit.
2. Arbitrage strategies based on the fact that some brokers receive quotes with a slight delay.
3. Trading on the news.
4. Provoking an imbalance by trading large volumes.

Forex market makers actively combat such trading approaches, using their own methods and engaging brokers to find unscrupulous traders. Therefore, you won’t be able to make money for a long time using one of the above approaches.

Sooner or later, the broker will start putting a spoke in the wheels or the Forex market maker will stop providing liquidity. True, if you work through ECN, then it is not easy for a large participant to identify a specific trader, but in this case, the brokerage company, which guards the interests of liquidity providers, can, on its own initiative, stop servicing the trading account.

Results of consideration of the activities of major participants

If a trader trades with his hands, then he will never cross the path of Forex market makers. Therefore, in this case, you can work completely calmly and not worry about anything, since large players will not specifically hunt for penny stops. Moreover, by understanding how a big participant works, it is not difficult to understand how to follow market makers in Forex.

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