Get started

Forextrader

What Trading Consolidation Looks Like?Should you trade consolidation? Well, the real question is are you a consolidation trader? If so, what does consolidation trading look like to you? Not all traders will have the same answer because no trader knows when consolidation will form until it happens. What you will do when it happens is solely based on what you believe to be true based on your beliefs about trading and your trading strategy. What is a market condition? A market condition is a type of way the market moves. Much like the weather outside, you dress based upon the temperature outside and you choose your style of clothing. You can't control the weather, but you can control what you do. Much like you can't control how price moves, but you can control how you trade it. The way price moves determines the strategy you choose to trade it based on your trading style. When consolidation begins forming you may notice a few things such as: 1. Its hard to gauge the price direction 2. Price moves sideways between an extreme high and low for an extended amount of time 3. You may be stopped out more often or have to wait longer before placing a trade if you are a trend or breakout trader 4. You may trade well within the ranges of crazy price movement in between the extreme high and low prices. The bigger question to ask yourself when you notice consolation forming is do you do well in this type of market? If so, what are the steps to trading this type of condition? Do you look place horizontal trend lines? Do you look for patterns such as wedges or flags. If no, the current currency pair or asset will be best to ignore til it begins to trend again in your favor. What will that look like? Is it a break out of the horizontal trend lines? Is it a break out of your pattern? Either way, as a trader, it's best you determine what consolidation looks like to you and decide to trade it or not to trade it. Construct steps around how you trade it and position your risk size according to this type of condition. For me myself personally, I do not trade consolidation. I am a trend trader and my motto is, if I'm not in the trade before consolidation forms, I'm not trading at all. I also don't create consolidation strategies. Thats just me personally. It helps with me mental capacity and keeps me focused on what works for me. I'd like to know, do you trade consolidation and if so, whats your best strategy. Lastly, thank you for reading my post. Be sure to like it. It lets me know you enjoy reading what I love talking about in my free time, trading. ❤️
EIGHTCAP:USOUSDEducation
by ShaquanLopez
2
How To Find Trend Trading OpportunitiesTrend trading is a style of trading. It specifies what you are looking for when trading a specific market. Style Trend trading sets you on a path to looking for a clear and defined uptrend and downtrend. Anything outside of that realm is no longer considered trending. A clear uptrend defines price forming a path of repetitive high prices called higher highs (last highest price to buy an asset before price declined) and higher lows(last discounted price to buy an asset before the price increased). While a clear downtrend defines price forming a path of repetitive lower prices called lower highs (last highest to buy an asset before price declines to a new discounted price) and lower lows(last highest(cheapest) price to buy an asset before price increased.) If you desire to be a trend trader you want to see the market creating a clear and defined uptrend or downtrend to call it an opportunity. Ignore the drama The next best thing to do is to avoid assets that are not trending. I prefer to trade the forex market. So, if I see any currency pairs absent of a clear trend, I immediately move on to the next pair. It's better on my mind to wait for my opportunity than to create one out of thin air. The more pairs that are not trending the better. This way, I have a small group of currency pairs to watch and trade. Limit the small mindset I have no idea what trades will win or lose. When I'm in my right frame of mind I don't think about the opportunity not working instantly. Which is why I swing trade. I like to lose my money slowly vs. fast as a day trader. It helps me stay clear of telling myself I'm wrong on a daily basis. I found I focus better on the outcome of the trade when I remind myself the market will tell me that I'm wrong. This way, as every outcome plays out I can handle each winning trade and losing with little emotion as possible. Is this always easy to do? Nope! I'd dare not fool you. But it does make it easier to setup for the next series of trades when I only focus on my "trend trading" opportunities. Quick recap You'll do better to find trend trading opportunities by focusing solely on currency pairs that are trending and ignoring the ones that are not. Its wise to limit your mindset by believing you're wrong choosing to trend trade. Let the market tell you when your setup is wrong vs. you telling yourself you're wrong before the trade plays out. This allows you to focus on the outcome of the trade to being overly emotional. I really hope this helps and that you were able to find a gentle takeaway. If you enjoyed this read, please like the post and comment on what your takeaway was. Happy trading 🧡 Shaquan
Education
by ShaquanLopez
5
Why are fundamentals ESSENTIAL in forex trading?What is the thing that manipulates the market to make sure your stop loss is touched in less than a minute? Simple, Fundamentals. Forex trading constitutes the most accessible form of trading for individuals. Low barrier entries, low commissions, forex possess everything that a young trader wants. However, content that most young traders learn from on YouTube puts emphasis on technical analysis and neglects fundamental trading. Big institutions like central banks or hedge funds, who are the ones moving the price, always make entries depending on the economics of a state. For example, EURUSD has recently reached the historical level of under 1.00000, a level that hasn’t been reached for over 20 years, after the European Union stopped dealing gas and oil with Russia. (see the image in the chart) Furthermore, oil prices are closely related to Canadian currency, where increasing the price will increase the value of the currency. As the price of oil is increasing, AUDCAD is reaching historical levels of under 0.86000. Therefore, we can clearly see that fundamentals influence the market’s direction. We can apply fundamentals to reduce our risk as well. Indeed, we can identify risky opportunities and filter out bad trades or reduce the position size. However, over the short term technical analysis can be a practical tool to determine price reversals or the timing of an entry. History tends to repeat itself, it is the same about markets. As a matter of fact, we can use historical market price data to forecast market movements. In a perfect world, each trade would be the result of a mix of the two, with fundamental analysis assisting technical analysis. In conclusion, digital content to learn trading leans toward technical analysis even though fundamentals contribute to an important part of profitable trades by forecasting future market prices.
Education
by vf_investment
3
Characteristics of Currency PairsHey Guys! Here are some characteristics of currency pairs that I noticed over the years. Perhaps it'll help you find the pairs that best fit your trading style, or perhaps you can use this information as an add-on to your current strategy. Gbp/Usd - Tends to overshoot key levels. - Can use to get better risk/reward. Both on entries and targets. - Can expect many fake breakouts; where key higher time frame levels may be broken on the lower time frames but fail to break out on the higher time frames. Eur/Usd- Tends to accurately respond to key levels. - Can be used for tight stop loss placements for there is no need to add a couple pips for wiggle room on this pair. - Especially on this pair, remember to enter/exit without being greedy or scared. Due to the response accuracy at key levels, price will not give you a second chance to enter a trade or take profits. Usd/Jpy-Tends to have huge moves without price confirmation.In other words, price gets forced up or down by a higher power for months at a time. - Can use to ultimately enter counter the initial direction of the forced move; expecting price to return to fair value. - Can use this characteristic to ride this forced move while not requiring price confirmation for your entry. Usd/Chf- Tends to have false break outs. - Especially on this pair, remember to watch the lower time frame's price action to make sure the break out is legitimate. Eur/Jpy, Aud/Jpy, Gbp/Jpy tend to form trade set ups simultaneously. - If you notice a strong move occuring on the eur/jpy, pay attention to the aud/jpy and gbp/jpy for possible trade opportunities and visa versa. That's it! I hope this helps! Ken
Education
by TradingForexPriceAction
3
⭐ ZOOM OUT ⭐ ZOOM OUT 1️⃣ When preparing to take a trade, it is better to take a broad look at the charts. 2️⃣ Taking into account the higher time frame charts, makes you see the bigger picture of the market structure and have a better bias. 3️⃣ Analysis carried out on the daily (1D) and four hour (4H) gives you "stronger entries" and reduces the chances of having false signals. 4️⃣ Of course there are different types of traders, and the SCALPERS would not want to stay long in the markets thus trading the smaller time frame. This can also be done with reference to higher time frame zones by scalping only when the market is around a strong reaction point from the higher time frames. 💥 ZOOM OUT
Education
by Sage_Trader
The Trader As An ArtistArtist What is art? I hear people say that word (art) a lot. In my opinion, everyone should stick to what they consider it to be. These arguments have been going on for the longest time. Ain’t stopping soon. Funny, when most hear the word “art” they’d have already imagined: the Da Vinci’s Mona Lisa or Vincent Van Gogh’s Starry nights. Art is actually one of the first way we learnt to explore the world—Through its elements and principles. Today I opened my desktop… or is it laptop? Any-hoo, that’s not the point. I opened this piece of work and decided to do an in-depth research on the definition of “art”. According to the Oxford languages, They said, “Art is expressing or applying human creative skill or imagination in visual or non-visual form”. Honestly, I don’t even think that’s the definition I was looking for. I mean—not everyone knows they have the “creative skill”… What’s this creative skill anyway? A creative skill is basically the ability to think about a task or problem in a new or different way. Meaning it can be anything right? P.S—Some-one said, “the best creative skill anyone can have is patience”. So are you trying to say, I need a creative skill to do an “art”. Huh… Well… Hey now, don’t get me wrong I’m not trying to argue with oxford. Maybe that’s their view of this word. Who am I to judge? Like I said, “it really can be anything; any-thing you can think of at all” here’s why: Is Art Just About The Creative Skill? Talking with Jules the other day—I heard her linguistic teacher say, communication is an “art” of… Wait, hold up. Heh, so communication can be an art. I mean—people do this thing everyday, How else is information passed if not through communication. All the definitions I’ve looked up on the word (art)—has the word “skill” in it. Any skill at all. I mean if oxford says the skill has to be creative well, their problem. Ergo, can we say, we all do “art” in one way or the other. Lol! I just felt insanely proud saying that out loud. Anyway, my view point is—the definition of art is subjective, we’re all right. Art is basically anything. It’s a language. Not just a thing, can also be a way. Anything that can be done by us humans (mammals), is definitely an “art”. I might be wrong but, I’ll come back to that. What Is Art? Back to my definitions—Then there’s that word “imagination”. You know what, I believe anything you can imagine is an art. Defining art is hard because—there’s no right or wrong in the definition of art. If you go on the internet now or ask someone, you’ll hear gazillion definitions. More Definitions Of Art Leo defines it as: experiencing an emotion and transmitting it onto others. A creative work of a human. It’s more than practice, it’s a way of life, Form of expression, quality of doing something. Also, An activity that manifests beauty, and The mastery and ideal way of doing something. The definitions are infinite. Till today, the definition is subjective, open, debatable—It’s so amazing how one thing can mean different things. Art can be an emotion or feeling, an expression, imagination… It’s such an interesting word. You watch movies and you cry, how exactly can a movie make you cry? How can one be so talented in evoking: feelings, moods or emotions on others—just by a single act? My British friends will say, “Amazing inn it”. A Work Of Art There’s a term that intrigues me, “a work of art”. Since the word “art” there is subjective it can be anything you make it to be. Art is an expression. Your job can be a “work of art” That can mean different things to different people. This Friday, I took a stroll on google—came across Anita Louise’s blog. Anita made reference to an artist who said: he’s art has no meaning. She says, “the no-meaning is the meaning”. That took me down memory lane. I remember my first sculpture class in—art class, we were supposed to create whatever anything at all. Mr. Jake said, “become art”… Heh, I remember picking tooth picks, more than a thousand of them. Had no clarity of what I wanted to make. Decided it’s best I play around with it. In the evening, I discovered that it gave me some kind of shape that I couldn’t describe. That piece didn’t make sense to me. To my out-most surprise, I scored the highest. Jake said, “Woah, Jamal this is interesting…” it made him curious. He also stated: that’s exactly what art means. Mr. Jake’s statement left me in a state of awe. That’s the message Anita was trying to convey. Most times—the meaningless art pieces are so intriguing that it becomes meaningful. That’s the beauty of art. The language of art is about appreciating any and everything—bringing the most senseless things to life. Art And Interpretation For you to interpret art, you need to ask yourself three questions: What’s the meaning? What’s the message? What do the patterns mean? In philosophy—the point of view is different. It’s grouped in two ways: Intentionalism and Anti-intentionalism. Intentionalism is: viewing the art from the artist perspective, whereas—Anti-intentionalism is: viewing and interpreting it from our own point of view—based on how we feel about it. The gift of art is that, no two persons can have the same interpretation. That’s what makes art very unique, interesting and fun. In an art class, if a still-life composition is placed in front of you, most artist would decide to do hyper-realism, others a sketch. The shading is different as well, That is, some would use pointillism, others hatching, cross-hatching or scribbling. What I’m saying in essence is: it’s all about the interpretation and expression. After the class, you’d hear different interpretations. In all honesty, Art is such an amazing thing. Not just in drawing but—other forms as well. Types Of Art Listen, I know the main topic is, “the trader as an artist” but I need you to stay with me—see where I’m headed. The main purpose of this topic is: to appreciate the art of trading, to give beauty to the person behind these charts. In addition, to appreciate something is to understand the meaning behind that thing—more on this in—the principles and elements of trading. Colleges today, galleries or wherever people get their information from these days will tell you—there’re two types of art: visual and Non-visual. Visual art—The term “visual” means sight, to see. Therefore, visual art is an art of vision. It involves the art that’s seen and felt psychically. Non-visual art—In addition, Non-visual art is an art of the soul and the brain. This type of art—can’t be seen but rather felt, it evokes feeling both good or bad in humans. Who’s an artist On Saturday, I went to the Library to check-out the new books. There’s a book on objective and subjective POV. There was a write-up, “when you become objective about art and not just subjective, that’s when you start to see artists all around you”. The carpenter in your neighborhood or the gardener across your yard. The writers, traders… Oops, I just said traders. Of course why not. You may not create a master piece that ends up in a museum, but, if you find yourself involved or doing something in your life that—combines a sense of purpose with practiced skill, honey, you’re an artist. Mark joined me in the library, I wasn’t even paying attention to him, because I came across an article that said, “Trading isn’t an art”. The writer said, the statement is ridiculous. That you can’t bring Picasso or Gogh into the picture. That really got me irritated. I find it funny how rigid one’s mind can be. To the writer everything “art” should either be a painting of some sort. Years back, I remember when someone asked what I studied—I’d tell them “art”, the next question that pops up is—woah, so you can draw? Pfft, man I get so tired. Back to the article, I mean he’s definitely an artist Cos’ his piece got to me. Anyway, the one who’s good at something especially if it involves something with skill—that’s an artist. What Is Trading And It’s Relation To Art. Trading is the act of buying and selling. Everyone can buy and sell, but, not everyone can do this consistently—without having your emotions involved in someway. Buying and selling isn’t always a positive act, especially if it involves money. Your emotions come to play. Controlling them is what makes you successful in this act. Right? That’s where the skill comes in. Since I need to acquire some sort if skill to become great at this profession, Why can’t I call trading an art? Without the skill, you’ll lose. Art requires skill; trading requires skill. What more do you need—That’s equilibrium there. This isn’t some sort of debate though. Not debunking anything. In other words, trading is an art since it requires a skill. There’s a saying that trading is a pattern and number game. Ergo, if trading isn’t an art, how do you recognize the pattern? There’s something called “pattern” in art. A pattern is a repetition. It also involves the elements of art. However, I could go on and on. My point is, trading is an art; a trader is an artist. Finis. The Trader As An Artist Since I parked my bike outside, I’ll probably go pick it up. Most people don’t know this but, traders are probably one of the smartest people ever. These guys have mastered the art of emotional intelligence, self-control, discipline, and patience. Hear me out, this is a mental skill. A tough work like this doesn’t get much appreciation. Trading is both a visual and non-visual form of art. Visual in the sense that, The charts can be seen, It’s patterns, structure and cycle. All these have their different meanings and interpretations. However, it’s the work of a trader to read these patterns and understand them. All these require a specific skill. The up and down tics in trading come from market structure, price-action and market cycles all which is—a graphical representation of both buyers and sellers in the market. Each tic represents a humans decision. The only way traders can really survive is: by knowing the intentions of the market. In some cases, that’s nearly impossible. Well, these guys do it anyway. Furthermore, It can be non-visual—due to the feelings and emotions this art evokes in the traders. Traders who can’t control their emotions encounter problems. Whereas—the ones who have mastered emotional intelligence, can see its rewards. The Trader As An Artist -The Market’s Interpretation Finally, how we interpret the market falls under the—intentionalism and anti-intentionalism of the philosophical interpretation of art. Intentionalism: We are interpreting the market’s movement from the it’s own perspective. That means you are trading what you see. Anti-intentionalism: Traders who interpret the market like this, trade what they think they see and react based on that. After reading—trading in the zone by: Late Mark Douglas ,I think most professional traders would rather stick with—the intentionalism part of the market. Let’s step back a little to—art and it’s interpretations. Traders also have different ways we interpret the market, different strategies, and different styles. Just like the different forms of drawing and different shading techniques (More on this in the next article). It’s all about expression. That’s why I found that article about, “Trading isn’t an art” really funny. In conclusion Art is about expression. Similarly, trading involves movements. These artist (traders) have learnt to read this movements, to understand its meaning, and they react accordingly. Traders developed the internal ability to control both their mind and actions. The trader as an artist is someone who has polished their chart reading skills, market analysis skills, through pattern recognition and have in the process learnt the art of emotional intelligence. Anyone can be a trader but not everyone can be—a trader. Furthermore, to be a successful trader, means—you are a successful artist.
OANDA:NAS100USDEducation
by lazyluchi
TAKE THAT NEXT TRADEHi Friends, This post is for Educational Purpose only!! Time Frames : 5 mins, 10 mins, 15 mins Instruments : All Forex and Crypto Pairs Market Session : All Sessions Strategy Considered : Price Action Shift (PAS) TAKE THAT NEXT TRADE From my personal research i have seen that for a trending market, break of structure or shift in price action often leads to a big price movement moments later. Before i go into a trade, i normally ask myself a couple of questions; 1. How much is my balance? 2. How much do i want to risk? 3. Does the setup have a high winning probability? 4. Am i following my checklist? if yes, have i checked at least 4/6 of the items on the list? 5. What are my exit plans if i should take the trade? If i am able to respond to Q3-Q5, then i will not miss that trades. PAS Strategy Explained - Citing CADCHF (15m) Price did not break first swing low, attempted to break the second one but failed. It eventually broke the third swing low then headed back to retest the order block that pushed price to that break. It makes sense to go in right at this point since 6/6 of my checklist have been ticked + Q3,Q4,& Q5 response is yes. PAS Strategy give investors/ traders the opportunity to expose their capitals to low risks but highly profitable trade (in this case RRR of 1:8). Take some time off to look at my checklist and the confluences which i have listed on the chart. DO NOT FORGET TO LIKE, COMMENT AND FOLLOW ME.
Education
by Kingsley_lotanna
3
SAR + Moving Averages + Multi Time Frame Sniper Entry FinderThis Is a mutli time frame chart used to find perfect entries using the 1hr & Daily time frames. The way this works is every time a MA Cross + Trend Confirmation From The SAR Happens Then You Would Enter For Either A Long Position Or Short Position. Used This Chart With The Mobile Trading Alerts Feature & Let Me Know How This Strategy Turns Out For You. Enjoy, Follow, Like, Comment & Share If You Find This Strategy Helpful Or If You Would Like TO Continue Seeing More Strategies Like This.
Education
by ForexPrince93