Trading. The Beginning
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In spite of the fact that scalping is one of the most technically and psychologically difficult types of trading, it has long enjoyed well-deserved popularity. Naturally, EA developers have not missed scalping either. Nowadays lots of free and paid scalper robots based on different principles and trading strategies are available to traders. Some advisors trade only at certain hours, some trade all the time. Some EAs work better and some work worse. However, as a rule, a scalping Expert Advisor shows profit for a certain period, after which there is a period of slack and a series of trades with losses. The implementation of scalping strategies in Expert Advisors often reaches the absurdity, which leads to...
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In recent years, there are more and more people who want to try their hand as an investor in various financial markets, including the FOREX currency market. But, nevertheless, despite the appearance of new teaching methods, and despite the increase of the professional level of teachers themselves, I cannot help noticing that the most frequent mistakes among the beginners are passed on from year to year. In this article I want to analyze in detail what prevents new traders-investors to become successful at last. And to give some advice based on my life experience. Mistake 1: lack of knowledge So, let's start from the beginning. The first and most important mistake: the lack of the necessary base...
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In this issue I would like to move away from the work-life advice on how to become richer, more efficient and more fortunate to turn again to the issue of trading. Today I want to share with you my thoughts on the subject of opening accounts by brokers for beginners at . The idea for this article comes from talking about the fact that the Russian regulator considers introducing to the market only professional traders, i.e. those speculators, who have already confirmed their qualification by passing professional exams. Let's think about whether or not a beginner trader really needs such a strong "care". To begin with I suggest thinking about two fundamental questions: "Who is a beginner at?" and "Why does one lose...
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It's very simple. Fibonacci retracement levels are the same resistance and support levels, i.e. the levels from which price is pushed back during the movement. A kind of "ceiling" and "floor" of the price. The difference between ordinary resistance and support levels is that Fibonacci retracement levels are calculated based on the Fibonacci sequence, i.e., they're based on the "golden section" principle. Why are Fibonacci retracement levels called "retracement levels"? Because in order to build support and resistance calculated this way, we need a pullback in price, i.e. a price increase following a price drop or, conversely, a price drop following a price increase. With such a tool as Fibonacci retracement levels we can calculate...
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Most traders lose money. According to different data, 70-80% participants of the trade remain in deficit. Without hesitation, we can list dozens of reasons why a trader's account can decrease with every trade. But let us highlight 3 important points. They can be solved relatively quickly and see the result. 1 - lack of information Gathering information is important for a trading decision. Most beginners deal with analytics in one of 2 ways: Ignore the importance of information and open trades intuitively or based on primitive analysis. They hear that a moving average breakout gives a signal - so they trade until they lose money. They constantly study 1-2 sources. The verified channel is great. But this is how a trader looks...
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The lifetime of any position on the foreign exchange market consists of three stages: opening a trade, accompanying it, and closing it. All trading strategies give a comprehensive answer to the question of when to open and when to close a trade. The question of tracking an open position in the vast majority of strategies is practically not disclosed, although it can increase profits by 200% or more. At the moment, there are three most common ways to accompany an open trade. Method #1: Stop-loss and Take-profit The rules of classical trading on the currency market imply installation of two orders that will close the open trade without any participation of a trader: stop-loss will close the trade with a loss, take-profit will close it with a profit. The first way of accompaniment is built on...
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The work of a trader seems simple and easy only to an uninitiated person. A trader is constantly within the rigid framework of rules and restrictions. These are the laws of technical and fundamental analysis, the rules of money management, etc. But there are frameworks, in which competent trader pushes himself, of his own free will, because to go beyond them turns trading into a casino, where the result will always be the same - the total loss of the deposit. Here are the most important rules for a trader If you are in doubt whether to open a deal or not, there can only be one solution: do not open it. It is better to miss the entrance to a profitable trade than to lose your money. Don't be in a hurry to jump into a "going out...
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In the morning, wearing a Henry Poole & Co suit, you get into a luxury Bentley and head for your office, where, after making a few trades in the foreign exchange market, you consider building another swimming pool at your country residence. The wake-up call brings you back to reality, and you diligently take the subway to your normal 9 to 18 job. Yes, that's what most traders' day looks like - combining trading and your main job. Is it possible to trade successfully on the currency market without spending all day at the trading terminal? The correct answer is: of course you can! And here's how. Set realistic goals First of all you must...
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Very often in the name of the indicator you can find the letters MTF, which beginners and not only traders take simply as a part of the name, not suspecting that they contain the description of a quite powerful and useful function built into the indicator. Today, let's examine what MTF indicators are and how they work. What is MTF mode? The letters MTF in the name of the technical indicator stand for Multi Time Frame. This means that the indicator is able to display its values, taken from other time intervals, on the price chart of a currency pair. To analyze the market situation, a trader almost always uses the chart of the currency pair on several time intervals. This is a technically competent approach to business....
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In order to trade profitably in the foreign exchange market, it is necessary to be able to work with the price charts of currency pairs. The trading terminal MetaTrader 4 provides the trader not only the ability to display charts in the form of lines, bars or Japanese candlesticks, but also a way to change the charts themselves. Let's talk in detail about what you can do with the price charts in the MT4 terminal. Scaling the chart in MT4 First of all, a trader can change the time frame of the chart. It is necessary for the correct analysis of situation and vision of the full picture of the market. Besides, every type of trading includes trading on different timeframes: scalping and pipsing - on TF from М1 to М15, intraday trading - on ТF from М1 to М15, scalping...
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Gold is not just a precious metal. Along with some currencies, SDRs, IMF reserve positions, gold (in the form of gold and foreign exchange reserves of states) belongs to the international liquid resources. International gold market has its own structure and a number of features, which we will discuss in this article. Evolution of gold price For more than 40 years there have been two parallel prices for gold: real and official. From 1933 to 1976 the official price of gold was determined by the U.S. Treasury. For example, beginning in 1944, the official price of a troy ounce was set at $35. In 1971, when the U.S. currency was devalued, the official price of the metal...
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A trading strategy is one of the cornerstones of trading. A trader without a strategy turns into an ordinary person, haphazardly poking buttons in the terminal. Each of the strategies has its own characteristics and today we will disclose all the subtleties of channel trading strategies. The price of a pair on the currency market fluctuates within a certain corridor that can be represented as a channel. "The main principle upon which all channel trading strategies are based is the price movement in the channel. Trading in the price channel is profitable if you clearly define the channel in which the price moves. For this purpose, a certain time interval is taken and the levels the price reached are determined,...
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Nowadays, trading on the currency market has transformed from a kind of "elite club" into something that anyone can do. With just a few dollars in your pocket, you can open a trading account and proudly declare: "I am a currency trader!". Nevertheless after having traded on mini, micro, nano and other cent accounts for a while the trader must give up the idea of earning million from the initial deposit of $100 and must realize that greater profits are possible only on a large trading account. Reinvestment - the Way to Hidden Losses Not every trader can (and wants to) invest a lot of his own money into trading on the foreign exchange market. Of course...
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The Turtle trading strategy is a complete trading system. Its rules cover all aspects of trading and leave virtually no issues for the subjective decision of the trader. It has all the components of a complete trading system. This review is intended to introduce traders to the Turtle trading system and provide them with an alternative to both intraday and long-term analytical systems. In this article we will review the basic rules of the system and give some examples of working with it. Briefly about Turtle trading system rules Market entry is made when the price goes one tick behind the high or low line of the previous 20 days (the price channel indicator is used for visualization). If...
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If you are reading this article, you probably know that there are many markets, trading strategies and ways to profit. The amount of information and opportunities has grown so much these days that it would take a novice trader several years of continuous work to test each of them. The number of books, courses and seminars is already uncountable. Where to turn your gaze? Market skeptics, beaten in battles, are already clear that getting rich quick is a marketing myth and they pay attention to other factors: the suitability of the trading strategy to the goals set, lifestyle, risk appetite, psychotype and way of thinking. This is what ultimately becomes decisive when choosing your niche in...
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The ability to correctly analyze the price chart of a currency pair is one of the key skills for a trader. However, its presence does not automatically make a trader successful. Undoubtedly, the results of trading depend a lot on technical analysis skills, but the skill of chart analysis itself excludes the participation of some money and emotions of a trader. It is problematic to exclude money and emotions from the process of real trading on the currency market. That is why two traders with the same knowledge and skills will show absolutely different results. You can't just enter the market. Every day many trading recommendations and forecasts for trading on the currency market are published on websites devoted to trading. However, none of the most...
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Risk management is one of the most important components of profitable trading. Many different articles of varying degrees of interest and usefulness have been written about it. However, there are only 5 simple, but very effective tips that will help you to avoid unnecessary risks in trading and improve the efficiency and profitability of your trading. Tip #1. Set realistic goals and plan to achieve them You don't come to the foreign exchange market just to trade, your main goal is to make a profit. But how much do you want to earn - a thousand, a hundred thousand, or even a million dollars? If you are an adequate trader (and we are read only by such traders :)), then you must be realistic, because with...
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Probably every newcomer to the foreign exchange market has heard of money management. It would seem, what is so complicated about money management? However, more than one trader has lost all his money because of wrong money management. The methods of money management are extensive enough for us to consider them in one article - today we will focus on three methods of entering the market, or rather - the size of the position to be opened. The name of the method comes from the slang name for a pack of bills. The essence of the method "The whole cutlet" is to open a deal with the maximum available volume, without setting a stop-loss order. The benefit of this approach is obvious - with a large amount of leverage can be in...
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Having marked the dates of Fed meetings on the interest rate in the calendar, learned to draw trend lines and open deals on a demo account, we can proudly call ourselves a beginning trader. But is it really so? Where is the thin line that separates a trader from a usual gambler, who does not care where he gets his adrenaline - in a casino, a sweepstakes or the foreign exchange market? We believe that these five qualities are inherent in a good trader, distinguishing him from a gambler. 1. Sticking to the rules of your trading system Perhaps that is the main difference between a successful trader and a gambler. A good trader has his own rules in ...
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Everyone has their own superstitions and omens. Some people go around the block if a black cat crosses the road, some are afraid of dropping a fork or spilling salt, etc. And you can't even imagine how many of these "worries" stock and currency traders have! 1. A common amulet that attracts money is money - certain coins and banknotes. For example, in Russia, such an amulet has always been a nickel. In Germany, it is believed that financial well-being brings a bent coin or a coin with a hole in the middle. In the U.S., an amulet that attracts money, is considered the first earned dollar. In the offices of many wealthy investors and stockbrokers...
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