For the novice trader
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I recently had a chance to talk to a trader who said he had a goal to increase his trading deposit from 150,000 to 250,000 rubles in about two months. The markets were kind to him, and he reached his goal even a few days earlier than planned. Now he has replenished the deposit, increasing it to 500,000 rubles. Lack of experience - the main problem of beginners His new goal is 1 000 000 rubles by the end of this year. Something tells me that this goal is unlikely to be achieved. The fact is that this guy is a rookie. He got to know the market only a few months ago, and so far...
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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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One of the key qualities possessed by people who are successful in a wide variety of fields is the ability to take full responsibility for all actions, actions and results, for every step in life. It is well known that only a very small percentage of traders actually become successful. To be among them, you need to work hard - on your discipline and psychology, risk management and trading plan, overcome your fears and greed, learn to manage your emotions. All of this requires an enormous desire, a willingness to keep moving forward after losses, a desire to change your old habits. And this is impossible without learning to take responsibility for the trading process and for...
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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 article we will discuss the work with the mobile terminal MetaTrader 4 and 5. For example, let's take the installation of the application for android, which will be about the same as the first launch of MT4 on iOS on iPhone or iPad. Our life is becoming more and more remote from home computers, so this instruction will help you navigate the trading process on your mobile device. To install the MT4 mobile terminal on your device, you should first of all go to the Play Store and enter "MetaTrader" in the search box. From the list of applications found, select the one signed by MetaQuotes Software Corp. (as a rule, the first one in the list) and go to...
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We've been running trader contests on our websites for over 4 years. During this time we have cooperated with different companies, tried many variants of rules and prizes, experimented and searched for the perfect contest for everyone. Being in fact a bridge between a broker and a trader I wondered what was the most successful contest. In order to make the topic more interesting, I asked companies and traders - our regular contest participants - questions about what it should be, how it affects trading on real accounts and whether it is worth participating in contests at all. Let's see what happened. Why brokers do or do not do...
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Sooner or later any trader comes to the idea of using Expert Advisors. By typing "trading advisor" into the search engine bar a trader receives an unimaginable number of links to resources offering trading robots. The classification of Expert Advisors is quite extensive: scalpers, martingale, grid traders, trend traders and so on. We will divide all existing Advisors on the Internet into categories of absolutely different plan: free, licensed and pirated (hacked) robots. With free Expert Advisors, everything is more or less clear: they have either worked out long ago, or their further development stopped for some reason. So let's consider the advantages and disadvantages of using the last two categories: paid licensed and cracked Expert Advisors. Why traders prefer pirate EAs? These days...
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In the last article we started talking about a coaching session with one of our Trader's Club members. We talked about his desire to travel and the real need for it. To recap the topic of the session: "What are the traders' expectations from trading in the market and what prevents him from succeeding?" Fears from the outside: Testing brokers without interruption It's worth dividing a trader's fears and concerns into two components: external and internal. We will begin with the external ones, namely the desire to shift the responsibility for the losses to others. We're going to have a dialog with the trader. - What prevents you from being successful right now? After all, you have strategies, you've tested them, they bring...
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New Year's holidays are approaching, and most traders are preparing to end the trading year, counting profits and losses. The time of thin market is coming - the time of big profits and lost deposits. What is a thin market? The classic definition of a thin market suggests that it is a market with a small number of participants, low volatility, low trading volumes and, as a rule, wide spreads. In simple words, a thin market is a time when the basic law of supply and demand is almost non-existent in the market. Liquidity is lacking because there are very few buyers and sellers, so any trade with more or less decent volume forces the price to overcome the number of points for which at normal times it was...
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It's no secret that learning is a time-consuming and labor-intensive process. However, scientific progress does not stand still, and with the advent of computers mankind in general and traders in particular have a lot of opportunities, which previously could only be dreamed of. Now traders can use all the power of computer analysis to get super-fast and incredibly accurate results. A real revolution in trading has been the emergence of special programs designed to test both manual strategies and Expert Advisors on historical data. How the strategy tester works Trader downloads the program, downloads historical data of a broker, chooses a date from which he wants to start the test (to the...
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In this and the next article we will talk about the coaching session with one of the members of the Traders Club. The topic of the session was "What are traders' expectations from trading on the market, and what prevents traders from succeeding". It consisted of four parts: What goals do you set for yourself in life? Why and what are your expectations from trading in the market? What prevents you from moving forward - what fears and concerns? What do you need to do to reach your goals? These seemingly simple questions, but the problems are already evident at the very beginning. Setting a goal for the trader - half of the success In this case, the main desire of the participant of the session (let's call...
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Having "suffered" from free -advisors and technical indicators promising a profit of hundreds and thousands of dollars by the next Monday, the beginning trader usually returns to the sinful earth and understands that technical tools are just helpers which make trading on the currency market easier and more comfortable. We have already mentioned a lot of them without mentioning only the scripts widely used by experienced traders and undeservedly neglected by the majority of novice traders. What is a script and how does it differ from an Expert Advisor? A script is a program (a utility) written in the MQL programming language whose function is the execution of a certain action once. A script can perform an informational, analytical or trading operation. For example, providing information...
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Having completed the training, a beginning trader sets out on his own "voyage" through the currency market. A beginner learns how to plot trends, add technical indicators, open and close positions. What else does a trader need to trade? One day the trader understands that the MetaTrader 4 platform contains not only the Moving Average, MACD and RSI indicators that he was told about during his studies, but also a lot of technical indicators in the terminal. After visiting the forum the beginner gets even more shocked - it turns out that there are various modifications of these indicators, as well as custom indicators. So, what to do? How to choose and customize an indicator correctly? Indicators -Grail...
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Oil is not only one of the most important components of the global energy system and economy, but also one of the most popular stock exchange instruments. The volatile reaction of "black gold" quotations to world events makes oil trading not only profitable but also very entertaining. There are several ways to trade oil on the exchange: by means of futures contracts, which are made on the commodities exchange; by means of contracts, which are made on the over-the-counter market; by means of long-term contracts, which are made by the oil producers and consumers. The largest volumes of oil are traded on two exchanges: the New York Mercantile Exchange NYMEX; the London InterContinental Exchange ICE. In smaller volumes, oil is also...
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Surely there is no one who, one way or another, has not heard about the foreign exchange market. Somebody has seen advertisements about fabulous profits, which can be received practically by doing nothing, somebody tells horror stories about how it is a scam and a swindle, and somebody is sure that trading is available only for very rich people and common people have nothing to do there. And only traders know that trading is hard work, a trader is a profession, and sometimes the money earned on the currency market is not easy. And if you are attracted by the opportunities of earnings in the financial markets, it is high time to become a trader! So, how to become a trader...
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Any novice trader eventually discovers automated trading, and the resources are overflowing with free and paid trading Expert Advisors that you want to try and test or even start trading with them. So in this article we are going to talk about how to install a robot on your MT4 trading account. After reading (or sometimes simply missing) the description of an EA, a novice trader downloads it, installs it in the terminal, attaches it to his trading account and... sees no changes. Doesn't work robot? Maybe. Or maybe the trader just installed it incorrectly, depriving himself of the opportunity to evaluate a promising and profitable Expert Advisor. That's why let's look at the step by step instruction on how to install an Expert Advisor in...
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One of the most difficult things for beginner traders to understand is a different format of earning money, an unstable profit. At , as in business, the money does not come in the form of a salary - every month, the same amount. Here profits alternate with a bad month, and one must get used to it. However, many beginners have these thoughts: "Ah, I earned only 10$ on this strategy, so I won't buy a BMW X6". Or vice versa: "Wow, I have made 130$ in one trade, if I trade a couple of times now, I can quit my job this month". You can lose your whole deposit in such a wave mentality. How ...
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They say that all analysts' forecasts come true, only analysts do not always guess at the time of their realization. Nevertheless, in the flow of stock information it is hard to avoid the influence of analysts on one's account, especially for a beginning trader. As someone who has been in the "skin" of a beginner trader, and a public analyst, let me give you some advice to protect you from the bad influence of other people's forecasts. You don't need recommendations! Of course, the easiest thing to do is to read the analytics exactly as long as they start recommending us something. That is, you have received a competent assessment of this or that event in the life of the company whose shares are interesting, but further to the entreaties to buy or sell...
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We begin a series of articles on the psychology of trading in the foreign exchange market, as this topic and area has been gaining momentum lately, especially in connection with the adoption of the "Law on e" in Russia. People come to trading to earn money but not all of them succeed. According to the statistics 95% traders lose deposits and only 5% make money. So why do people still rush here? Why do they do these strategies? Why are they pushing Buy and Sell? Why do they do what they do? Today we'll deal with the main question: what prevents a Trader from starting to make a profit from day one? The answer is simple: for the most part, everyone who comes into the trading world "bites"...
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The financial markets of the world are diverse and multifaceted. And if to trade in the stock market, to predict the rate of shares, sometimes it may be enough just to be aware of the affairs of a financial company, then the currency market can be referred to the most unpredictable markets. In order to trade successfully in this market it is necessary to be able to analyze it. Basically, all types of analysis can be divided into two main types: Fundamental analysis; Technical analysis. A person, unfamiliar with the currency market, may get an impression that in order to trade at the currency market one needs to have at least a PhD in Economics. Indeed, it is necessary to know the details of economic and financial processes, many economic indicators and...
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