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✅TRADING ONE PAIR ONLY✅ “TO TRADE, OR NOT TO TRADE A SINGLE CURRENCY PAIR. THAT IS THE QUESTION…” 🧿MULTIPLE CURRENCY PAIRS Easier to recover from losses on a given currency pair Less likely to experience not seeing any setups for a whole day/week Better understanding of pair correlations required Can be more distracting 🧿SINGLE CURRENCY PAIR No risk of trading correlated pairs Better ability to focus Feeling of understanding the price movements more Can be a struggle to stick to ONE pair Feeling of missing out when big moves happen on other pairs ✅HOW TO TRADE SINGLE CURRENCY PAIR: 🔲Step 1: Pick Your Currency Pair ▪️Is the pair active when I intend to trade it? Even though the Foreign Exchange market is open 24/5, some pairs may be less traded at some specific times. Refer to "When To Trade Forex To Maximize Your Lifestyle & Profit?" ▪️Do you understand the currency pair you want to trade? If you trade a pair with your country's currency, your chances of understanding how the price of the pair fluctuates might be higher. You will know what's going on and might even be able to know where the currency is heading (we are talking of fundamental analysis here...). ▪️Is the pair too or not enough volatile for you? Don't be surprised to see big swings in GBP/JPY or GBP/NZD because those pairs are considered more volatile. Some traders like it because the profits usually come quickly, but stopped out trades can be more frequent.On the other hand, a pair like USD/CNY will have some inactivity periods and that might be frustrating. 🔲Step 2: Plan Your Trading Good strategies are abstract and should work on any currency pair, however, since you have decided to trade one pair only, you have the privilege of tailoring you strategy to the particular pair, taking into the account it’s volatility, average likelihood of fakeouts vs breakouts, how trending it is on average etc.. 🔲Step 3: Stay Consistent Stick to the plan for at least a month. You might start the month feeling excited. You might get discouraged because you've taken too many or too few trades two weeks in.No one cares. Stick to your decision.At the end of the month, two things will happen: 1. You'll have built more confidence in your ability to remain consistent. 2. You'll have performed an experiment and will be able to say what works vs. what doesn't. Those are two great things for someone who's looking to grow as a Forex trader. Thanks for reading bro, you are the best☺️ ✅Gimme a like and the Gods of Trading will favour you this week👍 Dear followers, let me know, what topic interests you for new educational posts?
OANDA:BTCUSDEducation
by SignalProvider
10
🟥HOW TO GET RICH?🟥 🔳Have A Vision Self-made millionaires have a clear vision of their life. A focus on an idea or business defines their life. Instead of waiting around for the universe to do the work, they put in the hard work and take the steps to make their vision come true. Take a look at your current life and write down what would need to change in order for it to equal your vision. Make small actionable steps every single day to work towards your goal. 🔳Surround Yourself With Supporters Often, we surround ourselves with naysayers and people who keep you down because they’re familiar. But if you’re wanting to become something you aren’t, you need to surround yourself with people who are closer to or on their way there themselves. These people will be supporters to you instead of discouraging your ideas, no matter how improbable they sound right now. Ambitious people feed off each other’s energy and can help drive you to action. If you don’t have anyone in your life or near you who fit this then do the next best thing – read about them. Reading biographies of people who have done something similar to what you hope to accomplish keeps you motivated and in the right mindset. You may even pick up glimpses of their business savvy that gives you ideas of your own. Focus on people who had an average life before their success; not someone who was born into wealth and privilege. 🔳Be Selective With Your Time Stop doing the things that won’t make you rich. It’s simple in theory but so much harder to do in practice. While having hobbies and volunteering is good, if you find that all of your free time goes to these activities, it’s time to reassess. There are only so many hours in a day and if you don’t leave enough time to work towards your goals, you’ll get nowhere. Always have an outlet for relaxing but perhaps you don’t need to spend 4 hrs playing video games or leisurely shopping every weekend. By redirecting even a fraction of that time towards something that makes you money, you’ll be much farther ahead. 🔳Invest In Yourself Investing in yourself can mean a few different things from schooling to mentorship. After you’ve made a plan with the steps you need to take to complete your vision and become rich, assess whether you have any gaps in knowledge. If your vision is to start an online business but you don’t know the first thing about online business, then you’ll need to delve into that realm. While many things can be found for free, it often saves more time and energy to purchase training from an expert in the field. 🔳Don’t Look For Quick Fixes Get rich quick schemes are just that, schemes. If the money was quick to be earned, it’s also probably quick to be lost. Building generational wealth takes time and is more stable when done with a series of tried and true investments. Stay away from unproven startups and investment “opportunities” from your buddies if you’re serious about building wealth. Millionaires who started from nothing often found themselves with a passion and clear goal of what they hoped to accomplish. They focused solely on their goal and weren’t looking to take a shortcut. 🔳Invest Your Earnings Wisely Most millionaires invest in either real estate or the stock market, often both. Now before you start throwing your savings into either of these, it’s important to have a complete understanding of what you’re investing in. Meet with a financial professional or immerse yourself in literature about either of these. Your goal is to gain a complete understanding of the investment vehicle you’re leaning towards. If you don’t understand it, hold off on investing in it until you do. 🔳Always Keep Learning Self-made millionaires never stop learning. Having a true curiosity about life and a desire to learn is what made many millionaires successful. Don’t think this means you have to go to college. In fact, many self-made billionaires dropped out of college before finishing their degree. No matter what field you want to enter, learn everything you can about it. Follow the experts who have proven success and learn from their early mistakes. I Hope you guys learned something new today✅ Wish you all Best Of Luck👍 😇And may the odds be always in your favor😇
Education
by ProSignalsFx
12
📊HOW TO CREATE A TRADING PLAN📊 📖What is a trading plan? A trading plan is a comprehensive decision-making tool for your trading activity. It helps you decide what, when and how much to trade. A trading plan should be your own, personal plan – you could use someone else’s plan as an outline but remember that someone else’s attitude towards risk and available capital could be vastly different to yours. 📚Why do you need a trading plan? You need a trading plan because it can help you make logical trading decisions and define the parameters of your ideal trade. A good trading plan will help you to avoid making emotional decisions in the heat of the moment. ✳️TRADING PLAN CREATION STEPS: 1️⃣Outline your motivation Figuring out your motivation for trading and the time you’re willing to commit is an important step in creating your trading plan. Ask yourself why you want to become a trader and then write down what you want to achieve from trading. 2️⃣Decide how much time you can commit to trading Work out how much time you can commit to your trading activities. Can you trade while you’re at work, or do you have to manage your trades early in the mornings or late at night? If you want to make a lot of trades a day, you’ll need more time. If you’re going long on assets that will mature over a significant period of time – and plan to use stops, limits and alerts to manage your risk – you may not need many hours a day. It's also important to spend enough time preparing yourself for trading, which includes education, practising your strategies and analysing the markets. 3️⃣Define your goals Any trading goal shouldn’t just be a simple statement, it should be specific, measurable, attainable, relevant and time-bound (SMART). For example, ‘I want to increase the value of my entire portfolio by 15% in the next 12 months’. This goal is SMART because the figures are specific, you can measure your success, it’s attainable, it’s about trading, and there’s a time-frame attached to it.You should also decide what type of trader you are. Your trading style should be based on your personality, your attitude to risk, as well as the amount of time you’re willing to commit to trading. 4️⃣Choose a risk-reward ratio Before you start trading, work out how much risk you're prepared to take on – both for individual trades and your trading strategy as a whole. Deciding your risk limit is very important. Market prices are always changing and even the safest financial instruments carry some degree of risk. Some new traders prefer to take on a lower risk to test the waters, while some take on more risk in the hopes of making larger profits – this is completely up to you. It is possible to lose more times than you win and still be consistently profitable. It's all down to risk vs reward. 5️⃣Decide how much capital you have for trading Look at how much money you can afford to dedicate to trading. You should never risk more than you can afford to lose. Trading involves plenty of risk, and you could end up losing all your trading capital (or more, if you are a professional trader). Do the maths before you start and make sure you can afford the maximum potential loss on every trade. If you don't have enough trading capital to start right now, practise trading on a demo account until you do. 6️⃣Start a trading diary For a trading plan to work it needs to be backed up by a trading diary. You should use your trading diary to document your trades as this can help you find out what’s working and what isn’t.You don’t only have to include the technical details, such as the entry and exit points of the trade, but also the rationale behind your trading decisions and emotions. If you deviate from your plan, write down why you did it and what the outcome was. The more detail in your diary, the better. I Hope you guys learned something new today✅ Wish you all Best Of Luck👍 😇And may the odds be always in your favor😇 Do you like this post? Do you want more articles like that?
Education
by ProSignalsFx
4
🔳TOP 7 INDICATORS TO USE🔳 ◻️MACD(Moving Average Convergence/Divergence) Traders use MACD to identify changes in the direction or strength of the asset’s price trend. MACD can seem complicated at first glance, because it relies on additional statistical concepts such as the exponential moving average (EMA). But fundamentally, MACD helps traders detect when the recent momentum in an asset’s price may signal a change in its underlying trend. This can help traders decide when to enter, add to, or exit a position.MACD is a lagging indicator. After all, all the data used in MACD is based on the historical price action of the asset. Because it is based on historical data, it must necessarily lag the price. However, some traders use MACD histograms to predict when a change in trend will occur. ◻️VWAP(Volume-Weighted Average Price) The volume-weighted average price (VWAP) is a measurement that shows the average price of a security, adjusted for its volume. It is calculated during a specific trading session by taking the total dollar value of trading in the security and dividing it by the volume of trades. The formula for calculating VWAP is cumulative typical price x volume divided by cumulative volume. VWAP gives traders a smoothed-out indication of a security’s price (adjusted for volume) over time. It is used by institutional traders to ensure that their trades do not move the price of the security they are trying to buy or sell too extremely. ◻️EMA(Exponential Moving Average) An exponential moving average (EMA) is a type of moving average (MA) that places a greater weight and significance on the most recent data points. The exponential moving average is also referred to as the exponentially weighted moving average. An exponentially weighted moving average reacts more significantly to recent price changes than a simple moving average simple moving average (SMA), which applies an equal weight to all observations in the period. ◻️THE FOUR TYPES OF EMA: ▪️9-EMA is use for short term trading ▪️21-EMA is used for day trading ▪️50-EMA is used for analysis ▪️200-EMA is used for long term view ◻️RSI(Relative Strength Index) The relative strength index (RSI) is a momentum indicator used in technical analysis. RSI measures the speed and magnitude of a security's recent price changes to evaluate overvalued or undervalued conditions in the price of that security. The RSI is displayed as an oscillator (a line graph) on a scale of zero to 100.Generally, when the RSI indicator crosses 30 on the RSI chart, it is a bullish sign and when it crosses 70, it is a bearish sign. Put another way, one can interpret that RSI values of 70 or above indicate that a security is becoming overbought or overvalued. It may be primed for a trend reversal or corrective price pullback. An RSI reading of 30 or below indicates an oversold or undervalued condition. Overbought refers to a security that trades at a price level above its true (or intrinsic) value. That means that it's priced above where it should be, according to practitioners of either technical analysis or fundamental analysis. Traders who see indications that a security is overbought may expect a price correction or trend reversal. Therefore, they may sell the security. Thanks for reading bro, you are the best☺️ ✅Gimme a like and the Gods of Trading will favour you this week👍 Dear followers, let me know, what topic interests you for new educational posts?
OANDA:BTCUSDEducation
by SignalProvider
6
✅UNDERSTAND THE RISING WEDGE PATTERN✅ ☑️WHAT IS THE RISING WEDGE PATTERN? The rising (ascending) wedge pattern is a bearish chart pattern that signals a highly probable breakout to the downside. It’s the opposite of the falling (descending) wedge pattern (bullish). A rising wedge can be both a continuation and reversal pattern, although the former is more common and more efficient as it follows the direction of an overall trend. The rising wedge consists of two converging trend lines that connect the most recent higher lows and higher highs. In a rising wedge, the lows are catching up with the highs at a higher pace, which means that the lower (supporting) trend line is steeper. ☑️KEY FEATURES • The price action temporarily trades in an uptrend (the higher highs and higher lows) • Two trend lines (support and resistance) that are converging • The decrease in volume as the wedge progresses towards the breakout The third point is seen more as a boost to the validity and effectiveness of the pattern, rather than a mandatory element. And it is applicable either for stocks trading mostly. ☑️SPOTTING THE RISING WEDGE Identifying a rising wedge is not so difficult. As a first step, you should eliminate all types of wedges that are present in the sideways-trading environment. The ascending wedge occurs either in a downtrend as the price action temporarily corrects higher, or in an uptrend. ☑️TRADING THE RISING WEDGE Trading the rising wedge pattern is pretty easy. After we correctly identified the pattern all we need to do is wait patiently for the breakout of the wedge to the downside. After the breakout is confirmed(usually at least a 4H candle needs to close below the broken level) we can place a limit order to short the pair on a pullback giving us a better risk to reward ratio. The correct Stop Loss should be placed above the last higher high established by the wedge before the breakout. What concerns the Take Profit level, it must be based on the technical levels below( If there are any). If not, then we might use Trailing Stop or just choose a minimal acceptable RR of 1:1,5 I Hope you guys learned something new today✅ Wish you all Best Of Luck👍 😇And may the odds be always in your favor😇 Do you like this post? Do you want more articles like that?
Education
by ProSignalsFx
11
✳️TOP 3 RARE CHART PATTERNS✳️ 📉CUP AND HANDLE PATTERN A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift.A cup and handle is considered a bullish signal extending an uptrend, and it is used to spot opportunities to go long. Technical traders using this indicator should place a stop buy order slightly above the upper trendline of the handle part of the pattern. There can be both bullish and bearish Cups and Handles. 📊DIAMOND PATTERN The diamond pattern is a reversal indicator that signals the end of a bullish or bearish trend. It is most commonly found at the top of uptrends but may also form near the bottom of bearish trends. The bullish diamond pattern occurs after a strong downward move in price. It consists of two resistance levels that constrain previous retracements and two support levels that have constrained the downtrend. Also known as the diamond bottom pattern, the bullish diamond pattern signals a buying opportunity. Often it is the precursor for a bullish breakout. The Bearish Diamond Pattern, is the mirror opposite of the bullish one, even though it works on the same logic and it indicates the end of the uptrend. 📈SCALLOP PATTERN A scallop chart pattern is a technical analysis pattern that signals a short-term continuation of a bullish trend. It is created when prices make an upward-sloping curve that resembles the letter J on a price chart. That's why it's sometimes referred to as a J-shaped or J hook pattern. During the scallop formation, prices move higher, retrace, and trade lower for a short period before reaching a new peak. This indicates a short-term weakness of the ongoing uptrend and indecision in the market as to whether the trend will continue or not. But if prices are able to hold above the retracement zone for a while, it implies a strong momentum behind the uptrend and a potential breakout of the resistance level. The pattern is considered complete when you see prices break out above the key resistance level and rally to a new high. Once the upward breakout occurs, it confirms the continuation of the prevailing uptrend and a positive outlook on the market for the near future. There are both bearish and bullish Scallop Patterns and both can be used successfully. 📚FINAL REMARKS: Though these patterns are somewhat rare, it is essential for an advanced trader to know about them and to know how to use them, because that knowledge might provide you the missing piece of the puzzle in a difficult market making the difference between a good day and bad day. Which is all that matters after all. So I recommend you to spend some time and learn about the obscure patterns and to make it your goal to find them or at least look for them to give your brain enough data to let it do it’s pattern recognition learning magic. Thanks for reading bro, you are the best☺️ ✅Gimme a like and the Gods of Trading will favour you this week👍 Dear followers, let me know, what topic interests you for new educational posts?
OANDA:BTCUSDEducation
by SignalProvider
6
🕵️‍♂️BASICS: WHAT IS A PIP❓ 👉What is a Pip? The unit of measurement to express the change in value between two currencies is called a “pip.” If EUR/USD moves from 1.1050 to 1.1051, that .0001 USD rise in value is ONE PIP. A pip is usually the last decimal place of a price quote. Most pairs go out to 4 decimal places, but there are some exceptions like Japanese yen pairs (they go out to two decimal places). For example, for EUR/USD, it is 0.0001, and for USD/JPY, it is 0.01. 👉What is a Pipette? There are forex brokers that quote currency pairs beyond the standard “4 and 2” decimal places to “5 and 3” decimal places. They are quoting FRACTIONAL PIPS, also called “points” or “pipettes” which equal a 10th of a pip. 👉How to Calculate Pip Value: 👉The value of pip depends on the following three factors: ✔️The quoted currency ✔️The volume of the trade ✔️And the exchange rate Based on these factors the fluctuation of even a single pip can have a significant impact on the value of the open position. The value of 1 pip is calculated by the following formula: The value of 1 pip = (Pip in decimal places * Trade Volume) 👉Example: 1 pip volume in EUR/USD is equal to 0.0001 Then 1 PIP VALUE equals: 100,000 EUR—> 100,000*0.0001= 10 USD 10,000 EUR—> 10,000*0.0001= 1 USD 1,000 EUR—> 1,000*0.0001= 0.1 USD 100 EUR—> 100*0.0001= 0.01 USD ✅Tell us about issues you had with pips value calculation/understanding in the beginning of your trader’s journey in the comments✅ 😊And See you next time😊 Do you like this post? Do you want more articles like that?
Education
by ProSignalsFx
6
☀️MAKING SENSE OF FOREX TRADING SESSIONS🌝 ⭐️The Basics The forex market is open 24 hours a day during the weekdays which allows traders to potentially trade all day and all night.Knowing the forex market’s operating hours is essential for a trader. You need to know when the forex market opens and closes as well as the four main trading sessions. ⭐️Forex Trading Sessions Just because you can trade the market any time of the day or night doesn't necessarily mean that you should. The best time to trade is when the market is active with lots of forex traders opening and closing positions, which creates a large volume of trades. The forex market can be broken up into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. • Sydney is open from 9:00 pm to 6:00 am UTC • Tokyo is open from 12:00 am to 9:00 am UTC • London is open from 7:00 am to 4:00 pm UTC • New York is open from 1:00 pm to 10:00 pm UTC ⭐️Forex Trading Volume You can make money trading when the market moves up, and you can make money when the market moves down. But you will have a very difficult time trying to make money when the market doesn't move at all. In order for the market to move, lots of trades need to occur. And this is why you should focus your energy during specific trading sessions. The forex trading sessions are named after major financial centers and are loosely based on the local “work day” of traders working in those cities.The more traders…trading, the higher the trading volume, and the more active the market. The more active the market, the tighter the spreads you'll get and the less slippage you'll experience. In a nutshell, you'll get better order execution. ⭐️When is the best time to trade forex? During the weekdays, there’s always at least one forex trading session open although there are periods of downtime when the market is really quiet and trading volume is low or “thin”. You usually want to avoid trading when only one trading session is open and instead, wait for trading sessions to overlap. When two major financial centers are open, the number of traders actively buying and selling a given currency greatly increases. The highest trading volume occurs during the overlap of the London and New York trading sessions. More than 50% of trading volume occurs at these two financial centers. ⭐️Currency specific sessions The best time for you to trade forex will depend on which currency pair you’re looking to trade. Most of the trading activity for a specific currency pair will occur when the trading sessions of the individual currencies overlap. For example, AUD/JPY will experience a higher trading volume when both Sydney and Tokyo sessions are open. And EUR/USD will experience a higher trading volume when both London and New York sessions are open. Thanks for reading bro, you are the best☺️ ✅Gimme a like and the Gods of Trading will favour you this week👍 Dear followers, let me know, what topic interests you for new educational posts?
OANDA:BTCUSDEducation
by SignalProvider
1
🟢STOP AND LIMIT ORDERS EXPLAINED🟢 ✴️Types of orders in trading There are two main types of order: entry orders and closing orders. An entry order is an instruction to open a trade when the underlying market hits a specific level, while a closing order is an instruction to close a trade when the market hits a specific level. ✴️Stops vs limits A stop order is an instruction to trade when the price of a market hits a specific level that is less favourable than the current price. On the other hand, a limit order is an instruction to trade if the market price reaches a specified level more favourable than the current price. ✴️Stop orders explained You can use stop orders to close positions and to open them, by using either a stop-loss order or a stop-entry order. ✴️Stop-loss orders A stop-loss order is the common term for a stop closing order – an instruction to close your position when the market value becomes less favourable than the current price. ✴️Stop-entry orders A stop-entry order enables you to open a position when the market reaches a value that is less favourable than the current price. If you were opening a long position, you’d place your stop-entry order above the current market price. And if you were opening a short position, you’d place your stop-entry order below the current price. Although it may seem strange to open a trade at a worse price, stop-entry orders can enable you to enter a trade once a trend has been confirmed. This helps you take advantage of market momentum. ✴️Limit orders explained Like stop orders, limit orders can be used to open and close trades. ✴️Limit-entry orders A limit-entry order enables you to enter a trade when the market hits a more favourable price than the current price. For long positions, this would be below the current price level and for short positions this would be above. ✴️Limit-close orders A limit-close order enables you to close a trade at a more favourable price – which would be at a higher level for a long position and a lower level for a short position. The major drawback of a limit order is that there is the possibility it will not be filled if the market never reaches your order level – in this case the order would expire. If you had placed a limit-entry order, it is possible that your trade would never be executed. And if you had placed a limit-close order, your trade would not be closed automatically. 😊Thank you for reading, guys😊 ✅Like and Subscribe for more education✅ Do you like this post? Do you want more articles like that?
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Education
by ProSignalsFx
38
✳️FIBONACCI RETRACEMENT LEVELS BASICS(Must Read)✳️ ☸️WHAT ARE FIB RETRACEMENT LEVELS Fibonacci retracement levels are horizontal lines that indicate the possible support and resistance levels where price could potentially reverse direction. The first thing you should know about the Fibonacci tool is that it works best when the market is trending. The idea is to go long on a retracement at a Fibonacci support level when the market is trending UP. And to go short on a retracement at a Fibonacci resistance level when the market is trending DOWN. Fibonacci retracement levels are considered a predictive technical indicator since they attempt to identify where price may be in the future. ☸️FINDING FIB RETRACEMENT LEVELS In order to find these Fibonacci retracement levels, you have to find the recent significant Swing Highs and Swings Lows. Then, for downtrends, click on the Swing High and drag the cursor to the most recent Swing Low. For uptrends, do the opposite. Click on the Swing Low and drag the cursor to the most recent Swing High. ☸️HOW TO USE Once you’ve done that, you will see the following levels appear: 23.6% , 38.2%, 50.0%, 61.8% and 76.4%. (The 50% one is not technically a Fib level but its still used by everyone)The idea is that the price will make a correction that will reverse at one of these levels. So all we need to do is watch the price action near these levels and look for the reversal patterns, like triple bottom, head and shoulders, narrowing wedge breakouts, etc… Once the we see a confluence of the Fib level and the reversal pattern, we can just wait for the confirmation breakout and enter the trade on the pullback. EASY!👻 ☸️WHY IT WORKS Because of all the people who use the Fibonacci tool, those levels become self-fulfilling support and resistance levels. If enough market participants believe that a retracement will occur near a Fibonacci retracement level and are waiting to open a position when the price reaches that level, then all those pending orders will impact the market price. ☸️IMPORANT REMINDER One thing you should take note of is that price won’t always bounce from these levels. They should be looked at as areas of interest so as I wrote above, one can’t simply trade off these levels, but needs to employ reversal patterns with confirmation to increase the probability rate of one’s calls. 💹Thank you for reading, please Like and Comment to support me☺️ Dear followers, let me know, what topic interests you for new educational posts?
OANDA:BTCUSDEducation
by SignalProvider
9
What is Spread in Trading | Trading Basics 📚 Hey traders, It turned out that many newbie traders completely neglect spreads in their trading. In this post, we will discuss what is the market spread and how it can occasionally spoil a seemingly good trade. 💱No matter what financial instrument we trade, in order to buy the asset we need to have a counterpart that is willing to sell it to us and vice versa, if we want to sell the asset, we need to have someone to sell it to. The market provides a convenient exchange between buyers and sellers. The asset price is determined by a current supply and demand. However, even the most liquid markets have two prices: bid and ask. 🙋‍♂️Ask price represents the lowest price the market participants are willing to sell the asset to you, while 🙇‍♂️bid price shows the highest price the market participants are willing to buy the asset from you. Bid and ask price are almost never equal. The difference between them is called the spread. 📈The spread size depends on liquidity of the market. 📍Higher liquidity implies bigger trading volumes and greater number of market participants, making it easier for them to make an exchange. On such markets we see lower spreads. 📍From the other side, less liquid markets are categorized with low trading volumes, making it harder for the market participants to find a counterpart for the exchange. On such market, spreads are usually high. For example, current EURUSD price is 1.0249 / 1.0269. Bid price is 1.0249 - you open short position on that price. Ask price is 1.0269 - you open long position on that price. The spread is 2 pips. ❗️Spreads must always be considered in a calculation of a risk to reward ratio for the trade. For scalpers and day traders, higher than usual spread may spoil a seemingly good trade. Always check spreads before you open the trade. In 2020, for example, we saw unusually high spreads on Gold during UK/NY trading sessions. Spreads were so high that I did not manage to open a trade for a couple of days. Not considering spreads in such a situation would cost you a lot of money. Do you consider spread when you trade?🤓 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Education
by VasilyTrader
3
Quotes of a winning traderHi everybody! today we gonna focus on what is the mindset of a winning trader. what does he think and what differentiates him from a looser based on his way of thinking. We gonna check a non-exhaustive list of several quotes that may be interesting to know and remind. These quotes are all written on my notepad, I advice you to do the same: have a notepad with all the trading knowledge learn over the years. at first ----------> Dont forget to put a like and follow me if you want more content let's go ! 1)Trade what you see: its important to not have bias on trading, technical analysis allow you to have an idea of where the price may be heading and allow you to make a quick decision based on it. Your bias will only make you more confuse and may make you miss plenty of opportunities (as well as leading you to ruin). When you are going to analyse the market, dont forget to let your emotions behind you. 2)Plan your trade and trade your plan: as simple as it sounds. just draw a chart and trade it, if you dont have a plan you dont have rules and if you dont have rules you wont win money. 3)Trend is your friend + dont fight the FED: setups that follow the trend have more probabilities to be winners, therefore its better to favor bullish setups when trend is bullish and bearish setups when trend is bearish . Trend reversal setups are pleasing( a good ego booster) but keep it exceptional. also the "don't fight the fed" part correspond to stock market, when you know there is economical measures like Q.E just follow the movement. dont expect to be the top shorter, you'll need a lot of luck. 4)Trading is 80% psychology and 20% technical analysis: you surely listened to that one somewhere, its very famous. The winning trader have adquired strong rules of psychology and a solid mindset(they respect it) that brought them to become winners. these rules make them confident and peasible, they feel safe when working because they know odds are at their side as long they respect the rules. 5)Buy low and sell high: Buy low, sell high is a strategy where you buy stocks or securities at a low price and sell them at a higher price. This strategy can be difficult as prices reflect emotions and psychology and are difficult to predict. Traders, thus, use other tactics, such as moving averages, the business cycle, and consumer sentiment to help decide on when to buy and sell. 6)Cut your losses, let run the profit: The basic idea behind this particular saying is to encourage traders to get out of losing positions quickly, but have the patience to stay in winning trades and resist the tendency to sell winning positions early. Assuming the trader follows a sound trading strategy that has an edge over time, following this rule allows profits to accumulate over time, while drawdowns are kept at a minimum – resulting in a much more enjoyable trading experience. 7)Patience is key: One of the best cardinal rules and day trading advice is to be patient. Patience is key, during the day, there may be many opportunities. It is best to wait for the right opportunity pursuant to your specific rules and trading plan. Sometimes you won't make any trade at all, that's why it's not always easy being patient. Most of the time you will find yourself in profitable trades as long as your patient and vigilante. 8)Good trading habits + good trading plan + good trading rules: i think its clear, there is no need for more explnation to this one 9)Set and forget: is whereby you open a position with a pre-defined stop loss, take profit and entry location, and once the trade is activated, you let it go with no trade management. This means you let the trade run until it hits your take profit, or your stop loss. Hence the name ‘set and forget‘. you have an entry, an SL and a target so just let the price fluctuate, it'll give you a result at the end (loss or profit) there is no need to interact since you already have the parameters. 10)Trading is a game of probabilities: know your probabilities by heart. every winning trade know very well how to play with probabilities in order to achieve his goal of becoming successful. Dont forget to put a like and follow me if you want more content Thats all, I wish you the best. Have a nice week !
BITSTAMP:BTCUSDEducation
by UnknownUnicorn41061907
5
The basics of back-testing (HOW TO)Hey Traders, Today I wanted to follow on from the fantastic amount of comments that we are receiving from the previous video, "stop strategy jumping." It seems that so many of you took a whole heap of value from that video and for that I am very thankful and to everyone who reached out and told their story or let me know that it really touched them. As highly requested, I wanted to run through a basic way to start getting the grips with strategy back-testing. How can we go about back-testing our strategies to ensure that they are profitable for us in the long run? Take a look, have a listen and tune in. Set up an excel sheet the way I do and get back testing. There's only one way to do this, and it is to do the hard work. Let me know what you guys find. I can go more in depth in the future, but for now. It seems like most people wanted to get to grips with the absolute basics, which is what I'm going to show you today. If you have any questions at all, please the comment section is the place to be. As always, have a fantastic trading week and a fantastic weekend traders. I'll see you very soon.
Education
by the5erstrading
12
Know When to Stop Trading⛔️ ✅Today we will talk about one of the most important things in trading, about what most traders around the world cannot do, even though they are well aware of the need for these actions. It will be about suspending and completely stopping their trading activities. ✅What to do if the trading system has failed, the market has changed, emotions fail or something has gone wrong. It is in this situation that the rules of action in extreme trading situations come to our aid. 1️⃣Three shots and you're dead — the rule of stopping trading within a day 🟢The main essence of this rule is contained in the title. And its essence is to stop trading if 3 consecutive losing trades were made during the trading session. No more deals are opened on this trading day. The trader has received a clear signal that something has gone wrong and the problem is either with the strategy or with the market or with the trader. 🟢Especially psychologically strong people who are sure that they will not be drawn to recoup, can continue to monitor the market, but it would be better to just close the trading platform and do something else, and after the trading session to analyze and find out what the problem was. 2️⃣Three volleys and you're dead — the rule of stopping trading for 2 days 🟢This rule is quite simple in formulation and just as complex in execution, in fact, as all the rules of risk management and capital management. 🟢If the three-shot rule has worked for three days in a row, then trading stops for 2 days. The principle is the same as in the previous rule, but in this case, the trader receives a signal that the problem is more serious than originally thought and it will not be possible to simply wait it out, serious measures need to be taken to analyze and correct the situation. 3️⃣The 30% trading capital rule 🟢If 30% of the trading capital was lost during trading, then trading stops completely until the moment when this loss is made up in any other way (of course legal). This rule will help to save your main working tool — trading capital and will allow you to relieve psychological stress because the trader will come out of a stressful state and realize that he has other ways of earning income, i.e. trading is not conducted with the last money. ❗️Observing these 3 simplest rules of stopping trading, you can be sure that you will never lose your deposit and even in the worst case scenario you will always be able to stop and beat the excitement that pushes many traders to return to the market again and again until zero remains on the account.However, all of the above is true only under one small condition — all three rules are strictly observed ❤️ Please, support our work with like & comment! ❤️
OANDA:XAUUSDEducation
by UnitedSignals
7
Why Do You Need a Trading Plan?📝 If you want to become a consistently profitable trader you have two choices: 1️⃣strictly follow your trading plan or 2️⃣fail. Trading plan is essential for achieving your financial goals. It is a set of actions to follow for making trading decisions guiding you on how to react to certain events. It reflects your personality and characteristics. Moreover, its entire structure and content are primarily based on them. Your way to success will be full of obstacles. A lot of things will come in your way: losses, drawdowns, and losing streaks; mistakes, scams, and emotional decisions. Only your trading plan will show you a correct path, it ensures you will stay on track on your journey to your desired destination. When you make a wrong turn, it knows to make adjustments, and it points you back in the right direction. It is your guard from making any hurried decisions you could later regret. Trading without a trading plan wouldn’t be a smart idea. You wouldn’t know how to get to your destination and it’s highly likely that you get lost. Most importantly, if you suck at trading (and you certainly will in the beginning), you will know it is down to one of only two reasons: either there’s a problem in your trading plan or you are not sticking to your trading plan. Stick to your plan traders. "If you fail to plan, you plan to fail". ❤️Please, support this idea with like and comment!❤️
BITSTAMP:BTCUSDEducation
by VasilyTrader
23
What are Moving Averages & how to make money on them?📚 🟢The main rule of using Moving Average is to track the general direction of the moving average: it indicates the dominant trend in the market. It is worth making deals only in the direction of this movement. Such a simple rule makes the moving average method a convenient tool for short-term forecasting. 🟢A universal tool in almost all markets is a simple moving average (SMA) with a 200-day averaging period. A longer-term moving average will allow you to see the global rise or fall of the asset, avoid short-term fluctuations or minor consolidation of the exchange rate. As a rule, short moving averages allow you to react more actively to price movements and are designed to search for short-term trends. When analyzing the price chart on a daily or even shorter interval, many traders use "fast" EMAS with different averaging periods (5, 7, 13, 21, 50). ✅To date, there are many recommendations for the period of the moving average (3, 5, 7, 13, 21, ...), as well as methods of its calculation (SMA, WMA, EMA). The general postulates are as follows: ✅The "faster" the MA (EMA) and the shorter the calculation period (3, 5, 13, ...), the more likely it is to receive false or ambiguous signals; ✅The "slower" the MA (SMA) and the longer the calculation period (50, 100, ...), the more likely the moving average is to lag behind the real state of affairs in the market. ❗️The moving average method is still a universal way to determine the trend in the asset market. Ease of use and unambiguous interpretation of the result allow the investor to determine the prevailing trend with a high degree of probability. This minimizes the risk of making unprofitable deals. The use of the method as an independent tool when deciding on a transaction is controversial, since all possible successful combinations of the intersection of moving averages or the average and the asset price are subject to cyclicity and sometimes give false or ambiguous signals. ❤️ Please, support our work with like & comment! ❤️
OANDA:XAUUSDEducation
by UnitedSignals
10
ELON MUSK QUOTES. For powerful thinking👨‍🎓 1️⃣"When it is important enough, you do it even if the odds are not in your favor." 2️⃣"No, I don't ever give up. I'd have to be dead or completely incapacitated." 3️⃣"Persistance is very important. You should not give up unless you're forced to give up." 4️⃣"I think it is possible for ordinary people to choose to be extraordinary." 5️⃣"Don't confuse schooling with education, I didn't go to Harvard, but people who work for me did." 6️⃣"Constantly think about how you could be doing better and keep questioning yourself." ❤️ Please, support our work with like & comment! ❤️
Education
by UnitedSignals
12
5 Possible Outcomes Of Your Trades | Trading Basics 👶 Hey traders, Depending on your actions, you can get 5 completely different results taking just one single trade. 1️⃣The first outcome is a small win. By a small win, I mean a winning trade producing up to 2.5% account growth. 2️⃣The opposite situation leads to a small loss. To me, a small loss is a losing trade producing up to -1% account decline. 3️⃣Occasionally once the price starts moving in the predicted direction, one can protect his trading position moving his stop to entry and making a position risk-free. Being stopped out such a trade produces 0% profit. The level where the position is closed is called a breakeven point. 4️⃣If one perfectly predicts a future direction of the market and opens a trading position accordingly, occasionally, a huge profit can be made. A winning trade producing more than 2.5% net account growth is called a big win. 5️⃣Being wrong in the predictions, however, one can adjust and trail a stop loss not letting himself be stopped out. Such behavior may lead to a substantial loss or even a margin call. A losing trade that produces more than -1% net loss is called a big loss. ❗️Learning how to trade, I strongly recommend you eliminate the 5th outcome. Managing not to lose more than 1% of your account will substantially improve your trading. ❤️Please, support this idea with like and comment!❤️
COINBASE:BTCUSDEducation
by VasilyTrader
19
Understanding OptionsTo gain a grasp on options it is essential to understand profit/loss diagrams for the various options whilst also understanding why they display such diagrams. Understanding profit/loss diagrams can help you gain insight into arbitrage trading(which is beyond the scope of this post) and will help you hedge various types of positions. We will first discuss the difference between being long from short, and will conclude why the diagrams are the way they are. LONG OPTIONS When you are long an option, you are paying a specified amount of money upfront. What does this mean? This means you can only lose the amount of money that you used to initiate the trade. This is known as having limited loss. Upon paying this premium you have the opportunity to gain infinite profits and will reap such profits if the underlying asset goes in your desired direction, hence you are paying a premium to acquire greater opportunity. SHORT OPTIONS Being short options is quite different than being long options. Instead of paying money upfront for the opportunity of large profits, you actually receive money upfront. This is also known as having limited profits. Once you place a short position you already have your max profits set in place. If I receive money upfront then how do I make a profit? Your endeavor as an option seller is for the person on the other side of the trade to be at a loss. Options are a zero-sum game. There are those that profit off of a trader's loss and there are those that acquire that loss. When you are selling an option there is someone on the other side of the trade that is long the option. This is important because as we have learned earlier, long options have infinite profit potential. This means that as an option seller you technically face the probability of having unlimited losses. For example, if you are selling a call there is someone that has purchased the call that you sold. If their call becomes unprofitable then you can buy back the call to offset the call that you have sold, acquiring a net profit. But if their call becomes profitable then you will have to offset the call that you sold, hence buying back the call at a larger price for a net loss. APPLYING KNOWLEDGE Lets now take a look at the option's profit/loss diagrams above. The Long Call displays a diagram in which the underlying asset must rise for you to make a profit, with the benefit of having limited losses. The Long Put displays the need for an asset to go down to reap a profit with the added benefit of only having a limited amount that can be lost. The Short Call displays the acquiring of a limited amount of profit with the desire for the underlying to not rise or else an infinite amount of loss will be faced. The Short Put displays the acquiring of a limited amount of profit with the desire for the underlying asset to not go down or else unlimited losses can be faced. p.s A great way to remember these diagrams is to picture them forming a diamond shape. The image above depicts that of a diamond formation which can help you form new profit/loss diagrams for advanced strategies. It is also very helpful to understand the rights and obligations that the various type of options have.
AMEX:SPYEducation
by ddcakez