Be a trader!
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Day trading is a rather complicated type of trading on the currency market associated with high risks. Nevertheless intraday trading is very popular especially among beginners. Either constant presence of the trading terminal gives a feeling of control over the currency market situation or the viewpoint that "the more transactions the higher the profit" is placed above all. Be that as it may, the risks when trading intraday are really high and inexperienced traders make five common mistakes that lead to disastrous results. 1 mistake: using position averaging This mistake is the most common among intraday traders. Undoubtedly, the strategy of averaging itself has the right to...
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Trading on the currency market is so widespread nowadays that everybody, who has 10 dollars in his pocket, can feel himself a trader. Brokers thoroughly support this concept by widely advertising the idea that minimum funds are necessary for trading. The Internet is full of blogs telling about how at Forex market it is possible to turn a couple dozens of dollars into almost millions profits. Does it mean that the size of the deposit does not matter? After all, what is the sense of investing thousands of dollars in trading, if you can manage with a sum many times less? Today we're going to try to figure out a very controversial question, whether the size of the deposit affects the profitability of trading....
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Every trader sooner or later comes to the idea that the most important tool for making profit on the currency market is a trading strategy. Profile resources offer a lot of all kinds of systems, according to the authors, which are highly profitable and maximally effective. How to choose a really good trading strategy out of the variety? What is a trading strategy and why it is necessary? A trading strategy on the exchange market is a set of rules in the form of an algorithm that makes it possible to forecast the movement of an asset, taking into account the situation on the market, and to obtain a certain profit by executing this algorithm. For example, it may be a combination of several technical indicators: opening and closing will be carried out only at a certain coincidence of their...
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The "Buy on Decline and Sell on Rise" trading principle is a practical application of the "opposite time" theory that has long existed in the financial markets. In 1954, this approach was formulated more elegantly, and many traders now know it as the "Art of Disagreement" strategy. The essence of the Art of Disagreement strategy The general principle of this tactic is quite simple - do not do what most market participants do, that is, move against the crowd. On the one hand, it looks like madness, because, for example, trading against the trend is a huge risk and loss. On the other hand, this method has a rationale. According to this principle, to...
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Trading on the foreign exchange market is quite a costly activity. And now we're not talking about money, but time and nerves. Not everyone can devote a lot of time to trading, not everyone can cope with emotions when seeing a growing or shrinking deposit. And that's where trading robots come to help people. But it is not without problems here as well. The thing is that high-quality profitable trading robots are not just standing out in the open, and their price is not affordable to everyone. And even if everyone can afford it, how many are willing to risk their money by buying an expensive Expert Advisor? So, let's choose an inexpensive Expert Advisor correctly....
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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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Technical levels on the charts are built by everyone - both experienced experts and green beginners. Drawing support and resistance levels is probably the first thing a trader learns when entering the foreign exchange market. One would think, what is so difficult? You draw a line through the local minimum - here you have reached the support level, through the maximum - here you have reached the resistance level. And meanwhile, this way of drawing contains a serious error that leads to missed trades or wrong entries. In this article we will discuss how to properly build support and resistance levels. Not levels, but zones To begin with, the experts of Fortrader magazine offer a reminder of the formulation of the price level in the foreign exchange market....
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Many exchange traders prefer to trade long-term. It is convenient: less time is spent on transactions, there is no need to sit at the monitor, the profit can be significant - more than in intraday trading or scalping. Swing Trading is a popular tactic and is suitable for those who do not have time to be in front of the monitor during trading sessions and yet wish to profit from sharp price movements in both directions (in contrast to long-term strategies). The essence of swing trading Since swing trading is associated with carrying a position to the next day, it may seem to be an exit tactic rather than an entry tactic. Indeed, for.
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Earlier we mentioned that there are many trading styles among traders. We can say that there are as many traders as there are strategies. After all, even the same tactics in different hands will look different, with its own nuances. We have already discussed the general principles of scalping strategy trading. In this article, we will discuss a more long-term trading - intraday trading, which is called "intraday". Intraday trading or "intraday" is a very broad generalization, but there is a unifying rule: trades are not carried over to the next day. What is intraday? The style of "intraday" is divided into "active" and "position". An active "intraday" style aims to capture movements within one trading session and...
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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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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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The use of patterns in trading on the currency market, be it Price Action, candlestick patterns or technical analysis patterns, is one of the popular methods of price forecasting and is used by many traders. Nevertheless, there are many examples when a seemingly perfect pattern "cheats" the trader, not realizing its potential. Today we will consider one of the ways to improve the efficiency of graphical patterns on the currency market. Unfortunately, cases of "non-performance" of the patterns on the currency market are common. It is enough to have a closer look at the chart to find them. Of course the older the timeframe the higher the probability that everything will work, but on larger...
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The foreign exchange market is replete with a variety of trading strategies. Whatever trading style a trader follows, it is always possible to find a profitable system - from scalping and pipsing to long-term trading. Many trading strategies have already passed the age of several decades, at the same time remaining profitable and effective. The binary options market, as compared to the currency market, is much younger and so far cannot delight a trader with a huge number of trading systems. However, everything new is well-forgotten old, and many traders are adapting strategies for the foreign exchange market to trade binary options. In this article, we will tell you how to properly adapt currency trading strategies for the binary options market....
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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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Cryptocurrency code developers usually have other goals in addition to the main task of creating a new virtual unit. This can be the calculation and development of a fundamentally new mechanism for transactions with high speed of application execution and minimal fees. Or a higher level of security for payments, regardless of the scale. Or, for example, the privacy of financial transactions - a condition that is very much in demand in the investment world. Each of these points is worth exploring in more detail. In this case, when talking about the prospects of cryptocurrency, we will take as a basis exactly the innovation - the technology or the angle of view that is atypical for the capital market. The profitability of the most promising from this point of view...
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Almost all traders have heard of position locking. However, the number of those who have a clear idea about this technique is many times less. And there is nothing surprising, because the locking is such an ambiguous technique that even experienced traders have very different opinions about it. This article will not contain any ready-made rules on how to place and open locks. We will summarize the three most commonly held opinions on the locks and leave it to our readers to draw their conclusions. Opinion one. Locking is a psychological method, which can help to avoid losses Locks are used for opening positions without stop-losses. Instead of fixing the loss, the trader opens...
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[info_block align="right"] continues to operate on weekends as well - currency exchange transactions initiated by market makers continue to take place at the interbank level.[/info_block] Every trading week the currency pair quotes in our terminal "freeze" on Friday at 23:59:59 and start moving again on Monday at 00:00:01. Trading is not held on Saturday and Sunday because of the lack of prices, so many traders think that the currency market does not work on weekends. You will be surprised, but they are wrong. Let's talk about why we need to know about the quotes on weekends. What happens to quotes on weekends?
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The dangerous Martingale money management method came to the world famous "Foreign Exchange" with the light hand of gamblers. Some traders, especially beginners, perceive the method as a trading strategy and consider martingale as the only way to achieve 100% profit. Experienced professionals treat the tactics of card dealers with caution because it is not only profit that awaits the trader at the end of the journey, but also a very likely loss of the deposit. What is Martingale? What is the essence of the Martingale system? How is Martingale applied at ? Advantages and disadvantages of the Martingale principle at How do Martingale trading strategies work? What does a trader need to know when using the martingale strategy? Is there a safe Martingale? What is needed for safe Martingale? Preparing for...
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What is the currency market? Even a beginner knows the answer to this question. And who trades on the currency market? That's right, people. Everyone has his own weaknesses and shortcomings. And when many, many people gather in some project, they become a crowd, which has its own stereotypes of behavior. Today let's talk about the stereotypes of the market crowd and what you have to do not to mingle with it. A long-long fable about a serious trader Ivan Ivanovich [info_block align="right"]Ivan Ivanovich is a serious trader. He opens the trading terminal every day, trying to make money by trading currency pairs. [/info_block]Ivan Ivanych is a serious trader. He opens a trading terminal every day,...
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Why does a trader come to the foreign exchange market? Naturally, not for a thrill, but for profit. That is why the rules of technical analysis are studied, different trading strategies are tried and a lot of literature is read. Finally, the result is achieved - the profit is made. And here one of the most important questions arises - how to get your hard-earned money? The problem is that many traders choose a broker for trading, not really being interested in how to withdraw their profit. Let's find out how to withdraw money from your brokerage account. What to do before opening a real account Before you open a real account with your broker, you should first of all ask your broker if you can withdraw your profit from the...
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