Get started

Signalsprovider

Identifying Market Correction EndpointsCorrection or trend? How deep is the correction if it exists? When can we expect a reversal? These are common questions among traders who utilize trend strategies. The foundation of trend trading systems rests on the understanding that a trend can become 'exhausted.' Prices cannot rise indefinitely nor plummet to zero. Unlike stocks, currency pairs operate within ranges established by central banks, leading to frequent reversals and corrections. Corrections differ from trends in both depth and duration. If the price retraces more than one-third of the previous trend's length after a reversal, it is often considered the beginning of a new trend rather than a mere correction, which is the basis for counter-trend strategies. However, local corrections can occur, enabling the trend to continue. Entering the market at the end of a correction allows traders to secure positions at optimal prices, which is the essence of swing trading. 📍 METHODS FOR DETERMINING THE END OF A CORRECTION 1. BY PATTERNS. This straightforward and logical approach relies on market psychology. As a trend ascends, more buyers enter the market. When news prompts some to sell, a correction occurs, causing temporary price declines. However, buyers often see this as a chance to purchase at lower prices. A key indicator of the end of this correction is a candle with a small body and a long downward wick, suggesting that selling pressure has subsided and buyers are stepping back in. 2. BY CANDLE BODY SIZE. The size of candle bodies reflects price movement. When candle bodies decrease in size during a correction, it indicates waning interest in the asset. In an upward trend that turns bearish, if the correction shows small candle bodies, it likely signals a recovery of the trend. Conversely, during a downtrend, large downward candlesticks signify strong selling, while small bodies during corrections suggest minimal price movement. 3. CHANGE IN TRADING VOLUMES. Similar to the analysis of candle bodies, observing changes in trading volumes can signal the end of a correction. A decline in volume may indicate that the correction is over. However, a limitation of this method in Forex trading is the absence of aggregated volume data, necessitating reliance on indicators that may show tick volumes or specific broker volumes. 4. FIBONACCI LEVELS. Based on mathematical concepts, Fibonacci levels help identify potential retracement points. The end of a correction is most likely to occur at the first or second Fibonacci level after a reversal. If the price retraces to the 50% level, it often indicates the potential continuation of the initial trend. 5. TECHNICAL INDICATORS. Technical indicators, particularly oscillators like the Stochastic and Relative Strength Index (RSI), can be valuable tools for identifying the end of a correction. When these oscillators reach overbought or oversold territories and subsequently reverse their direction, it often signals that the correction has concluded, indicating a potential resumption of the original trend. 6. FUNDAMENTAL FACTORS. Local reversals frequently occur in response to news events. For instance, a cryptocurrency might be on the rise, but negative news—such as a significant fund dumping its holdings or regulatory actions by the SEC—can lead to a temporary price pullback. However, if positive news later arises, it can trigger renewed buying interest, signaling the end of the correction and a potential return to upward momentum. 📍 CONCLUSION In trading, there are no infallible tools for pinpointing trends, corrections, or their respective beginnings and endings. A correction can seamlessly shift into a new trend, while a reversal following a correction may lead to a false breakout. Given these uncertainties, it is prudent to combine multiple analytical tools into a cohesive signal system. By doing so, we can enhance our decision-making process and improve ability to interpret market movements. Additionally, it is essential to test this system against historical price data to ensure its effectiveness and reliability in various market conditions. This comprehensive approach allows us to better navigate the complexities of the market and make more informed trading decisions. Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment 📣
Education
by Lingrid
14
COGNITIVE DISSONANCE IN TRADING: GAP BETWEEN FANTASY AND REALITYToday we are going to tackle one of the bad habits - illusions in trading. It will be painful, not everyone will be able to face reality, but it is necessary to go through it if you want to be profitable in the markets steadily, not from time to time. Cognitive dissonance is a psychological term used to describe the discomfort a person experiences when two contradictory beliefs are present at the same time. The theory states that people like to keep all their beliefs and experiences in harmony and avoid disharmony (dissonance). When we experience this conflict and discomfort, our thoughts will immediately attempt to restore balance by changing our beliefs and attitudes and, justifying our actions and behaviors. Ultimately, we all want our expectations to match reality in such a way that we can experience a sense of control. We all experience cognitive dissonance on an almost daily basis. In everyday life, it can be quite harmless and even fun to recognize its presence, but for traders it can be disastrous. 💡 HOW DOES THIS RELATE TO TRADERS? The vast majority of ambitious amateur traders approach their profession with deeply unrealistic expectations such as: ➡️ You can learn to trade the market fairly quickly. ➡️ One can quickly and regularly recoup the lost money in large quantities. ➡️ Rapid attainment of abundance and wealth. ➡️ Daily, steady, reliable results. ➡️ One can quickly quit a job and work from home. Anyone who has ever tried trading has quickly learned through experience that none of the above statements are true. This instantly creates a conflict between what you believed and what you experienced, and thus your thoughts quickly try to erase the discomfort and restore harmony. The reasonable and logical thing to do in this case is to recognize and accept that your original beliefs were incorrect, and then revise your beliefs so that they can accurately reflect reality. However, admitting that you were wrong and that you made a mistake is in itself emotionally painful, although it must be done. No one likes to admit they were wrong; it is much easier and quicker to just try to rationalize and justify your original beliefs. People generally try to justify their own mistakes because, by doing so, they feel better about themselves. And it doesn't matter that your beliefs are false, and they will continue to be false for as long as you continue to believe that everything that happens is normal. It goes without saying that this is completely irrational and can be extremely destructive to traders. 💡 WHO IS TO BLAME FOR FOREX FAILURES? A typical situation with the belief that trading can be learned quickly, and that one can earn X amount of money daily and quit their job within a month or two. When reality conflicts with this belief or expectation, the trader will make excuses, trying to find justification for their actions, why they were right, telling themselves something like "I just haven't found the right system yet". Instead of accepting their mistakes from their faulty judgments and then taking action to align their behavior with reality, which will ultimately lead to success, they prefer to find excuses for their beliefs. The situation described above leads to so many traders constantly switching from one forex system to another. One of the truly destructive characteristics in this situation is that as a result of cognitive dissonance, the original false belief is actually further reinforced, the exact opposite of what would be most beneficial. In order to restore emotional harmony in such a situation, something needs to change. Either we need to change our beliefs or reduce the importance of one of the conflicting issues. Very often the broker or trading platform is blamed for trader's failures. After all, it is so easy to shift the blame onto someone else. Most people do is maintain an existing belief (rather than admit error), introduce new beliefs to justify the first, and then diminish the importance of real events (disregarding the facts). The end result is that they continue even more passionately down the false path. 💡 CHASING ELUSIVE PROFITS This, however, easily leads to unrealistic expectations and beliefs of traders, viz: They expect to get big returns quickly. When reality shows them that their expectation is false, they ignore the facts and look for something to help prove that their belief is correct. It is common to see traders switching from one trading system to another every few months. They add forex indicators, add rules, change timeframes, test different methods, learn different theories, trade on different instruments, change their money management system, change risk profiles, buy different software, etc. They may even find a profitable strategy, but discard it because, in their opinion, it doesn't give them the 100% return. These people will spend the rest of their lives in a futile search to find something that in reality does not exist. This is quite obvious not only from their own experience, but also from the documented experience of any other trader who has previously traveled this path. And yet they ignore this evidence. They ignore reality. Their beliefs collide with harsh reality, which causes emotional discomfort. Instead of admitting they are wrong, which would cause even more discomfort, they simply ignore reality, find excuses for their original belief (e.g. the strategy is bad, or the trading platform is slow, or the market is wrong, etc.), and find harmony again, convincing themselves that they were right, but just haven't found a solution yet. And they think it's better to keep looking for them next! 💡 THE CHOICE: IGNORING REALITY OR ADAPTING TO ACHIEVE SUCCESS Traders are faced with tough choices that they need to make. We all at some point face the discomfort of cognitive dissonance when our beliefs go against reality. We can either restore our mental harmony by ignoring the evidence of reality and continue to make excuses. Or we can accept that our beliefs were false, and then realign them and change our actions and behavior in a way that works in parallel with reality. The former path is the easiest and most convenient, but it certainly represents an option that leads to guaranteed and lasting delusion. The latter path is more difficult and less comfortable, but it naturally represents the option that will eventually lead the trader to success. Here is the question that all traders should ask themselves and answer honestly: What is more important to me? Being right or being successful? Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment 📣
Education
by Lingrid
5
AIRDROP TYPESCryptocurrency airdrops are a clever marketing tactic where projects give away tokens or coins for free, with the aim of generating buzz and spreading the word about their product. In most cases, the primary goal of an airdrop is to create awareness and attract attention, rather than generating revenue. As the airdrop makes headlines in the media and gets featured on influential analytical platforms, users become more familiar with the startup and may even decide to invest in their coins if they're interested. There are different types of airdrops that have different purposes, conditions and mechanisms: 🎈 REGULAR AIRDROP These are the simplest and most common type of airdrop, where a project gives away its tokens or coins without any strings attached. In most cases, all you need to do is sign up for the project and confirm your email address to receive your free tokens. Unlike other types of airdrops, regular airdrops require minimal effort and no purchase or time-consuming tasks. It's like getting free money, without having to lift a finger! And the best part? You can earn even more by sharing the news with your friends and family on social media. Regular airdrops are often used by new projects that are just starting out, with coins that have a few zeros after the decimal point. The main goal is to create buzz and generate interest in the project, which can lead to a significant increase in the price of the coin once it's listed on exchanges. 🎈 BOUNTY AIRDROP The Bounty Airdrop is a unique and innovative way for projects to engage with their community and reward their most enthusiastic supporters. Unlike traditional airdrops, where users simply receive tokens or coins for free, the Bounty Airdrop requires users to complete specific tasks in order to earn their rewards. These tasks can include writing an article, creating a video, translating content, testing or reviewing a product, or even participating in social media campaigns. By completing these tasks, users are not only earning rewards, but also contributing to the growth and success of the project. This approach not only incentivizes users to take action, but also fosters a sense of ownership and loyalty among the community. The Bounty Airdrop offers higher rewards compared to traditional airdrops, making it an attractive option for users who are willing to put in a little more effort. However, it also requires a higher level of engagement and commitment from the user. For those who are willing to take on the challenge, the rewards can be substantial and provide a significant boost to their crypto portfolios. Overall, the Bounty Airdrop is a win-win for both the project and the user. It provides a unique opportunity for users to earn rewards while also contributing to the growth and success of the project, and offers a higher level of engagement and satisfaction compared to traditional airdrops. 🎈 LIMITED AIRDROP A limited airdrop is a unique token distribution strategy where a project allocates its tokens or coins to a specific group of individuals, often consisting of early investors, holders of a particular cryptocurrency, participants in a hardfork or lottery. This type of airdrop is commonly employed by already established startups as a marketing tool to promote their brand and incentivize users to buy their coins. In a limited airdrop, the project typically distributes its tokens or coins to the selected group of individuals, often with the condition that they must hold or buy a certain amount of the project's coins beforehand. This creates a sense of urgency and exclusivity among participants, as they are only eligible to receive the airdrop if they meet the specific requirements. The primary objective of a limited airdrop is to create buzz and drive adoption for the project's coins. By offering exclusive rewards to early adopters and loyal supporters, the project can incentivize users to buy and hold their coins, rather than simply selling them off immediately. However, the success of a limited airdrop ultimately depends on the timing and execution of the project's sales strategy. Once the airdrop is completed, the project typically begins mass sales among those who purchased coins solely for the rewards. This means that the task at hand is to sell the coins quickly and efficiently, ideally before the market becomes saturated with sellers. By carefully planning and executing their sales strategy, projects can maximize their returns and create a sustainable market for their coins. For investors, limited airdrops can be an attractive opportunity to get in on the ground floor of a promising new project and potentially earn significant returns. 🎈 AUDIENCE AIRDROP In an Audience Airdrop, a project distributes its tokens or coins to individuals who have amassed a certain number of followers, likes, comments, or views on their social media channels, blogs, or online forums. This targeted approach allows projects to focus on their most dedicated and active supporters, who have been instrumental in spreading the word about their initiative. By offering tokens or coins to these loyal enthusiasts, projects can foster a sense of community and loyalty among their audience. This strategy is particularly effective for projects that are looking to build a loyal following and encourage word-of-mouth marketing. In essence, an Audience Airdrop is a form of token-based loyalty program that rewards users for their ongoing support and participation. The benefits of an Audience Airdrop are multifaceted. For one, it provides a unique opportunity for users to get involved with the project and feel valued for their contributions. Secondly, it helps to build a strong and dedicated community around the project, which can lead to increased visibility and credibility. Lastly, it can also help to incentivize users to continue promoting the project and sharing its content with others. Overall, an Audience Airdrop is a clever and effective way for projects to reward their most loyal fans and encourage continued support and advocacy. 🎈 HARDFORK-BASED AIRDROP What happens when an airdrop is coupled with a hardfork, a significant event that splits the blockchain into two distinct branches? This fusion of concepts gives rise to a unique phenomenon known as a hardfork-based airdrop. A hardfork is a major update to the blockchain protocol that renders the existing blockchain incompatible with the new version. As a result, the blockchain is split into two branches, each maintaining its own unique set of transactions and assets. This dichotomy creates an opportunity for projects to distribute their tokens or coins to users who held a certain cryptocurrency on their wallets at the time of the hardfork. The benefits of a hardfork-based airdrop are multifaceted. For users, it provides an opportunity to acquire new tokens or coins without investing in initial coin offerings or token sales. This democratizes access to blockchain assets, allowing more individuals to participate in the ecosystem. Furthermore, it incentivizes users to hold onto their cryptocurrencies, fostering loyalty and encouraging long-term investment in the project. For projects, a hardfork-based airdrop offers a unique marketing strategy to promote their token or coin. By distributing assets to users who hold a specific cryptocurrency, projects can generate buzz and attract new followers. This approach also helps to establish a strong community foundation, as users are more likely to support and advocate for projects that reward their loyalty. 🎈 PARTNERSHIP AIRDROP The partnership airdrop is a revolutionary concept that empowers token holders to benefit from joint ventures between projects. This innovative approach allows token holders to receive tokens from both participating projects, fostering a sense of unity and shared value. For instance, when two projects merge, their token holders can now seamlessly receive tokens from both entities, creating a more comprehensive ecosystem. Another example of the partnership airdrop in action is when a new startup is launched on the Ethereum blockchain. As a token of appreciation for the support and trust of Ethereum holders, they are rewarded with tokens from the new startup in a predetermined proportion. This collaborative approach not only strengthens the bond between projects but also provides a unique opportunity for token holders to diversify their portfolios and benefit from the growth potential of the merged or new projects. By facilitating seamless token distribution through partnerships, the partnership airdrop has the potential to reshape the way we think about tokenomics and project collaborations. As more projects come together to create innovative solutions, the partnership airdrop will undoubtedly play a vital role in shaping the future of the cryptocurrency landscape. 🎈 AIRDROP FOR NFT HOLDER This airdrop mechanism that benefits holders of specific NFT assets, providing them with free tokens. This promotion strategy is designed to incentivize ownership and drive engagement with a particular NFT collection. By distributing tokens to holders of certain NFT cards or assets, creators can increase visibility and attract new enthusiasts to their digital art project. Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment
Education
by Lingrid
5
HOW TO IDENTIFY AN ASCENDING WEDGE AND A DESCENDING WEDGEThe wedge pattern is a popular chart formation that traders use to identify potential reversals in the markets. This pattern is formed from a series of higher highs and higher lows in an ascending wedge or lower highs and lower lows in a descending wedge. As the pattern narrows, the price action becomes more compressed, eventually leading to a breakout that can result in a significant move in the opposite direction. In this article, we will look at how to identify and trade this pattern. How to identify an ascending wedge and a descending wedge Rising wedge An ascending wedge is a bullish pattern that forms when price is sandwiched between an uptrend line and a horizontal or slightly upward sloping resistance line. To identify an ascending wedge: a. Draw a trend line connecting the lower lows. b. Draw a resistance line connecting the upper highs. c. The wedge should look like a symmetrical or slightly expanding formation. Downward wedge A descending wedge is a bearish pattern that forms when price is sandwiched between a falling trend line and a horizontal or slightly downward sloping support line. To identify a descending wedge: a. Draw a trend line connecting the upper highs. b. Draw a support line connecting the lower lows. c. The wedge should look like a symmetrical or slightly expanding formation. How to trade a wedge Rising Wedge When trading a rising wedge pattern: a. Place a buy stop order above the upper resistance line, aiming for a return to or beyond the initial point of the wedge. b. Place a stop loss below the lower trend line to minimize potential losses. c. Exit the trade when price reaches the target or when the pattern does not move beyond it as expected. Downward wedge When trading a descending wedge: a. Place a sell stop order below the lower support line, aiming for a return to or beyond the initial point of the wedge. b. Place a stop loss above the upper trend line to minimize potential losses. c. Exit the trade when price reaches the target or when the pattern does not break as expected. Risk Management Trading wedge patterns can be profitable, but it is important to manage risk effectively. Consider using a fixed percentage of your account for each trade and set strict stop loss orders to protect your capital. Also, remember that no pattern is foolproof and the market can sometimes give false breakouts. Conclusion When properly identified and traded, wedge patterns can provide valuable trading opportunities. By following the steps outlined in this article, you can improve your ability to identify these patterns and capitalize on them. However, always remember that trading involves risk, and a thorough understanding of market dynamics and risk management is essential for success.
Education
by UnknownUnicorn15614419
2
HOW TO RECOGNIZE A SCAM SIGNAL PROVIDER WEBSITEForex signal providers can be a good resource for traders looking to access the markets. However, not all signal providers are created equal, and some of them act as scammers, preying on unsuspecting novice traders. In this article, we will look at how to recognize a fraudulent signal provider's website and how not to fall victim to their machinations. The provider's website can be a great indicator of professionalism or, on the contrary, a desire to deceive you. 1. Bad website design One of the easiest ways to recognize a fraudulent signal provider website is to check its design. Fraudulent sites often have poor design with low-resolution images and poor grammar. You won't find any information about the provider itself on such sites. Non-working buttons or links are also a reason to be cautious. The sites of legal signal providers are usually well designed, have professional images and clear language. 2. Lack of contact information The websites of fraudulent signal providers often lack contact information or provide fake contact information. In many cases there are icons of almost all social networks, but when you click on the link there is nothing there. If there is even an account in social networks, they are mostly completely anonymous. On the other hand, legitimate signal providers should have a physical address, phone number and e-mail address on their website. Traders should check the contact information provided and make sure it is legitimate. 3. Unverified performance Fraudulent signal providers may provide unverified results or manipulate performance metrics to appear more profitable than they actually are. It can be easy to show fake trading results on a website. You should treat such results with caution. You should always check the accuracy of the performance results before using services from any signal provider. Legitimate signal providers should provide verified performance results from third-party sources. Our team has already checked a huge number of them and found out who is working correctly and who is falsifying the trading results. 4. Lack of social proof Social media is a staple of business these days. Social buttons can lead to the homepage of a website, to an empty profile, or to nowhere at all. Social media proof is a powerful tool that can help traders identify fake signal providers. The websites of fraudulent signal providers often have no reviews or they usually have fake reviews. There are always satisfied customers on their website and social media pages with no way to read the comments. Providers using a well-known consumer review system is usually a good sign. But you still should also check third-party review websites to see what other traders are saying about the provider. If there are a lot of short positive reviews you should also be wary as they may be fake. 5. Check the domain name Domain names registered for a short period of time, say a year, can be suspicious because scammers don't invest a lot of money in their sites. They purchase domain names with short expiration dates to minimize their costs. Websites that are newly created and have a short lifespan are more likely to be fraudulent. In conclusion, recognizing scam signal provider websites is crucial for traders to avoid falling victim to scammers and achieve their trading goals. By checking for poor website design, lack of contact information, unverified performance, lack of social proof, traders can identify legitimate signal providers and avoid being scammed. Be safe.
Education
by UnknownUnicorn15614419
4
BULLISH AND BEARISH FLAG PATTERNSBullish and bearish flag patterns are common patterns in forex that are used by traders to determine potential price movement in a trending market. These patterns can provide clues about market sentiment and help us make informed decisions about when to enter or exit a trade. It should be remembered that this pattern is a continuation pattern, not a reversal pattern, as these patterns appear after a strong movement. How to apply in trading patterns bullish and bearish flag? The bull flag pattern is a continuation pattern that forms after a strong upward price movement. This pattern is characterized by a sharp price rally, followed by a period of consolidation in the form of a descending channel or flag, and then a continuation of the movement. The flag is usually accompanied by a decrease in market volatility and momentum, which indicates a temporary pause in the uptrend. The price is resting after a strong bullish movement before continuing. How to apply in trading? 1. Identify a strong upward movement (flagpole): The first step is to identify the flagpole of the initial strong upward price movement that precedes the formation of this pattern. 2. Flag formation: After identifying the flagpole, traders must draw a trend line connecting the highs and lows of the consolidation to see the flag pattern. You need to watch the price closely because this pattern can turn into an ascending triangle. 3. Breakout of the contraction: Then wait for a breakout above the upper trend line of the flag pattern, accompanied by an increase in momentum. A breakout of the co-principal level confirms the continuation of the uptrend and is a potential entry point for long positions. Usually the price makes a move equal to the flagpole, which gives an approximate take profit point. Conversely, the bearish flag pattern is a continuation pattern that is formed after a strong downward price movement. This pattern is characterized by a sharp decline in price followed by a period of consolidation in the form of an ascending channel or flag. Similar to the bull flag pattern, the bear flag pattern is accompanied by a decrease in momentum, which indicates that the price is temporarily resting in a downtrend. How to apply in trading? 1- Identify a strong bearish move (flagpole): The first step is to identify the flagpole of the initial strong downward price movement that precedes the formation of the flag pattern. 2. Flag formation: After identifying the flagpole, we must draw a trend line connecting the highs and lows of the consolidation boundary to recognize the flag pattern. 3. Waiting for support breakdown: We should wait for a breakdown of the lower trendline of the flag pattern, accompanied by an increase in price momentum. Such a breakdown confirms the continuation of the downtrend and is a potential entry point. In conclusion, the use of bullish and bearish flag patterns in trading requires identifying a flagpole, building a flag pattern and waiting for a breakout to confirm the continuation of the trend. By understanding and effectively utilizing these patterns, we can enhance our analytical skills. This pattern can complement your existing trading method.
Education
by UnknownUnicorn15614419
2
SIGNAL PROVIDERS: EXPERT ADVISORSAs the world of trading evolves and expands, new signal providers are popping up every day, promising to help traders identify potential market opportunities. However, there are many problems among legitimate providers from one of them: signal providers offer fraudulent Expert Advisors (EAs). These unscrupulous providers promise extraordinary returns and flawless trading systems, but in reality, they disappoint and lead to financial losses for unsuspecting rookie traders. In this post, we will examine the reality of EA fraud and give important tips on how to protect yourself in the trading industry. EA scams primarily target traders looking for automated trading solutions using EAs. 99% of the time these are traders who have been in the industry for no more than a year. Signal providers often use deceptive tactics to lure people into their schemes. The main signs of fraud can include: 1. Unrealistic promises: This is the biggest red flag. Signal providers make big claims of guaranteed profits or excessively high returns in a short period of time. Things get to the point of nonsense like 100% capital growth every week. But in reality, no trading system can do such results in a short period of time completely eliminating risk or ensuring error-free success. 2. Fabricated results: To attract inexperienced clients, scammers show fabricated evidence of high EA returns using fake data or false reviews. It is crucial to independently verify track records and performance data as our team has done. 3. Lack of transparency: Signal providers often lack transparency in their operations. They may withhold important information such as the strategy or methodology behind their EAs, making it impossible for traders to evaluate their performance. An EA may be behind a sliding line crossover. As a consequence, the EA gives signals when the market is in sideways movement, which is likely to lead to losses. Protecting against expert advisor scams: 1. Do your due diligence: Before signing up with any signal provider or purchasing an EA, conduct thorough research. Read reputable sources of user reviews and independent analysis to assess the reliability and performance of the provider. Since the reputation of the provider itself comes first. If the provider has a good reputation, they will not offer anything that is not of any use. 2. Check the track record: Request supporting documents from the signal provider or developer, such as statements from real trading accounts or third-party verification results like we do. Reliable providers should be transparent about their historical performance. 3. Be skeptical of unusual claims: Be cautious when encountering providers promising guaranteed profits or unusually high returns, this is always a red flag. Remember that trading always involves risk, and no system can completely eliminate it. 4. Test periods and money back guarantees: Choose signal or EA providers that offer trial periods or money back guarantees. Legitimate providers are confident in their services and allow traders to test them with minimal financial commitment. 5. Get professional advice: We have reviewed hundreds of signal providers and if you are unsure or inexperienced in evaluating signal providers or advisors, get advice from professional traders who will help and show you the right way. Conclusion: Although there are both genuine signal providers and effective advisors in the trading industry, traders must remain vigilant to protect themselves from EA scams. By conducting thorough research, checking history, using regulated platforms, being skeptical of unusual claims, using trial periods and money-back guarantees, and seeking professional advice, traders can reduce the risk of falling victim to scammers.
Education
by UnknownUnicorn15614419
2
DOUBLE TOP FORMATIONWhat is a double top? This pattern appears when the price reaches some levels, makes a high, then goes down for a while. Then it comes back to about the same level and draws the same high at about the same level as the previous one, and then turns around and goes down. With a double top, this pattern is a reversal pattern and favors, subsequently, a downward price move. What should I pay attention to? Let's say you had some buys open; you saw a double top and, accordingly, decided to exit. So, how can you determine whether it is a quality pattern or not? First of all, you should pay attention if there is a resistance level at the level of the double top. In this case, we have one top, the second one and we can pay attention to the fact that there is a level nearby. And it almost overlaps with our double top. This gives additional strength to the pattern and it becomes more significant. Secondly, there should be at least six candlesticks between the two tops. That is, the tops should not literally follow each other. There should be at least six candles between the tops. So that it visually looks like 2 peaks, not 2 or 3 candles next to each other. But at the same time take into account that if the second peak is very far from the first one, then this pattern is most likely not a pattern and it is just a coincidence, and most likely you will not see any strong trend reversal. A correction, perhaps, but no more than that. Accordingly, the farther the first top is located from the second one, the weaker the pattern is. This is because the significance of the chart formation is simply lost in time. Therefore, try to select trades in which the second touch is lower than the previous one, if possible. And in case the reversal does take place, you can catch a very big movement. And if the space on the left looks filled, then accordingly, you should not count on any strong reversal. But strong global reversals are not so common, so it is not easy to catch them in any case. As they appear by themselves quite rarely. How to enter the market? Let's look at an example. As we know, this pattern is a reversal pattern. We have formed the first top, then the second top was formed and the price went up. You do not know what to do, to enter or not to enter, when to enter, where to put stop loss and take profit. First, we build a trend line of the previous trend. Moreover, it should capture the lows that preceded the second top. In this case, we had an upward trend, so our trend line will be built approximately like this. Next, we put a horizontal line at the level of our last low that preceded the second top. We will enter, as you guessed, at the breakdown of our trend line or neckline. And our target will be: the distance from our last low to the level of our last tops. Entry on the breakoout of middle low. And you can put, of course, pending orders, you do not have to sit in front of the screen and wait for this breakout to happen and the stop-loss will be approximately at the level of our two tops, a little bit higher. And this is how the trade will look like.
Education
by UnknownUnicorn15614419
3
SIGNAL PROVIDER TESTIMONIALSWhen choosing signal providers, it is a difficult task to determine the quality of the provider. One way of course is to look at testimonials. Testimonials are a common tool used by signal providers to showcase success stories or attract potential customers. While testimonials can provide valuable information about a provider's performance, they should be approached with caution. It is important to study them thoroughly. Here are a few key factors to consider when you read forex signal provider testimonials: 1. Authenticity First of all, you need to make sure that the testimonials are genuine and not fabricated. This is where details are important. Look for specific details such as the trader's name, location and trading experience. General or vague testimonials without any identifying information should alert you. 2. Verifiability Check if testimonials can be verified through independent sources. Reputable signal providers often provide links to their clients' social media profiles or trading accounts, which allows you to cross-check the information provided. Such transparency indicates a higher level of trust, as testimonials without verification are not a good sign. 3. Consistency Analyze the consistency of testimonials. Do they all sound the same or use identical wording? For example, identical and short sentences. Such testimonials may indicate that they are scripted or fake. Genuine testimonials should reflect individual experiences and vary in tone and content. 4. Duration Pay attention to the duration of the testimonials. Are they recent or written several years ago? Testimonials that cover a significant period of time indicate consistent performance and reliability. But too old testimonials, say left 3 - 5 years ago, may not accurately reflect the current work of the provider. 5. Third-party testimonials Look for independent reviews as we do for example or testimonials about the signal provider in reputable sources like Trustpilot. Such reviews can provide an unbiased point of view and verify the claims made in the testimonials. Internet forums, social media groups, and specialized review websites are excellent resources for finding such information. 6. Track record Evaluate the overall track record of the signal provider. Does it have a track record of generally providing accurate and profitable signals? Look for evidence of long-term success, including consistent positive testimonials from numerous clients that reflect the provider's profitability. In conclusion, while testimonials can be a valuable tool for assessing the reliability of signal providers, you should approach them with skepticism. Considering factors such as authenticity, verifiability, consistency, longevity, third-party testimonials, track record and trial period give informed decisions on which signal providers to trust. One must remember that thorough research and due diligence are crucial when choosing a reliable signal provider.
Education
by UnknownUnicorn15614419
5
CONTRACTING AND EXPANDING TRIANGLESTriangle patterns are powerful technical indicators that provide traders with valuable insights into potential market trends and price movements. Among the various types of triangle patterns, horizontal triangles, contracting triangles, and expanding triangles are widely recognized for their reliability and effectiveness. Horizontal triangles, also known as symmetrical triangles, occur when the price consolidates between two converging trendlines. These trendlines are drawn by connecting a series of lower highs and higher lows. Horizontal triangles signify a period of indecision in the market, as buyers and sellers battle for control. There are two types of horizontal triangles: Contracting Triangles and Expanding Triangles. Contracting Triangle: Contracting triangles, also known as descending or ascending triangles, are characterized by converging trendlines with one trendline slanting upward or downward. These patterns indicate a gradual decrease in price volatility and suggest an imminent breakout. Characteristics: 1. Converging Trendlines: One trendline is drawn horizontally, acting as support or resistance, while the other trendline slants in the opposite direction. 2. Decreasing Range: The price range between the trendlines gradually narrows as the pattern progresses. 3. Breakout Anticipation: Traders expect a breakout in the direction opposite to the slant of the converging trendlines. Entry and Exit points 1. Entry Point: Wait for a confirmed breakout above the upper trendline (in descending triangles) or below the lower trendline (in ascending triangles) to enter a trade. 2. Stop-Loss Placement: Set a stop-loss order slightly outside the triangle pattern to mitigate potential losses if the breakout fails. 3. Target Price: Measure the height of the triangle pattern and project it in the direction of the breakout to determine a potential target price. Expanding Triangle: Expanding triangles, also known as broadening triangles, are characterized by diverging trendlines, indicating increased volatility and uncertainty in the market. These patterns often precede significant price reversals. Characteristics: 1. Diverging Trendlines: The upper and lower trendlines move in opposite directions, creating a widening pattern. 2. Increasing Range: The price range between the trendlines expands as the pattern develops, reflecting growing market volatility. 3. Breakout Anticipation: Traders anticipate a breakout in the direction opposite to the widening of the triangle pattern. Entry and Exit points 1. Entry Point: Wait for a confirmed breakout above the upper trendline or below the lower trendline to initiate a trade. 2. Stop-Loss Placement: Set a stop-loss order slightly outside the triangle pattern to limit potential losses if the breakout fails. 3. Target Price: Measure the height of the triangle pattern and project it in the direction of the breakout to determine a potential target price. Horizontal triangle patterns offer traders valuable insights into potential market trends and price movements. By understanding the characteristics and formation of these patterns, traders can effectively identify entry and exit points, set appropriate stop-loss orders, and determine target prices. However, it is essential to combine triangle patterns with other technical analysis tools and indicators for a comprehensive trading strategy. With practice and experience, traders can harness the power of triangle patterns to enhance their trading decisions.
Education
by UnknownUnicorn15614419
4
MYFXBOOK TRADER VERIFICATIONIn the world of forex trading, Myfxbook has become a popular platform for traders to share and analyze their trading results. However, as with any online platform, there is a risk of encountering fake or fraudulent accounts that mislead users. It is crucial to be able to spot these fake Myfxbook accounts to ensure credibility and make informed decisions when following or investing in traders' strategies. In this article, we will discuss how to identify potential fake accounts and ensure the validity and reliability of Myfxbook traders. 1. Unrealistic returns One of the first signs of a fake Myfxbook account is consistently high and unrealistic returns. While it is possible to achieve high profits in forex trading, one must be cautious when faced with accounts that consistently generate unrealistically high returns without any significant losses or drawdowns. Without a capital growth chart of a trader on Myfxbook, it is impossible to draw clear conclusions about his trading results. A capital growth chart allows you to see how a trader manages his trades and how his account rises or falls over time. Also look at the difference between gains and absolute gains, as these two parameters, can be confusing to most traders. It can be used by scammers to trick traders. Scammers can increase a small account by 100% and then deposit an additional $20,000 to make it appear as if all profits were made in a larger trading account. The main difference between the two is that: gains show growth from initial deposits, while absolute gains show growth from current and subsequent deposits. 2. Absence of fluctuations and drawdowns Genuine trading accounts usually show ups and downs, periods of profit and drawdowns. If a Myfxbook account shows a steady uptrend without any significant fluctuations or drawdowns, this may be an indication of a fake account. Real traders experience moments of losses and corrections that are reflected in their trading history. No trader, no matter how experienced, can completely avoid losing trades. A red flag is an account at Myfxbook that does not have a single losing trade or negative pips. Realistically, losses are part of trading and a true account should reflect both winning and losing trades. If the chart shows constant growth without natural drawdowns, it may indicate that the trader may be using for example a martingale system (or other martingale variants), which will eventually lead to a capital loss. It is important to pay attention to the stability of capital growth, the absence of sharp jumps or declines, as well as the general trend of growth. 3. Abnormal trading duration Pay attention to the duration of trades displayed on your Myfxbook account. If trades consistently last only a few seconds or minutes, this may indicate a scalping technique that can be difficult to execute profitably. Although some traders specialize in scalping, it is important to check the consistency and effectiveness of such strategies. Also note whether the Myfxbook account has been recently updated and whether there are signs of active trading. If the account is not active for a long time, it may indicate that most of the open trades were losing or the strategy is no longer working. But the trader can all show a graph of the yield curve before and deceive newbies. 4. Suspicious trading history Carefully examine the trading history presented on the Myfxbook account. Look for any irregular patterns or actions that seem too good to be true. Several winning trades in a row without a loss or a high volume of trades made within a short period can be potential signs of a fake account. A trader with a long history and consistent profits may be more reliable than someone with limited data. But since trading is about probability rather than certainty, past performance is no guarantee of future results. Note whether a backtest or a real trading strategy has been downloaded. Many traders may upload a backtest to show the amazing results of a trading strategy in order to lure new traders. 5. Verification through Myfxbook If strategies are to be made public or used for business and advisory purposes, they must be verified. Without verification, the user may not know if the strategy is reliable or if it is a scam. One of the most reliable ways to verify the reliability of a Myfxbook account is through the Verified Track Record feature. It requires account verification with partner brokers and adds an extra layer of verification of the account and trading results. If most of the information is hidden it is 100% scam, as a common method used by scammers is the martingale trading strategy. It involves taking a risk with a huge transaction size that covers all costs and losses for a certain period of time, that is, if it succeeds. And scammers have to hide it. As forex trading continues to gain popularity, it's important to be careful and vigilant when encountering traders on platforms like Myfxbook. Identifying fake or fraudulent accounts is necessary to protect yourself from potential fraudulent activities and misrepresentation. By looking for signs of unrealistic returns, analyzing fluctuations and drawdowns, verifying them with Myfxbook's verification feature and being cautious about suspicious trading histories, you can make sure that the Myfxbook accounts you follow or invest in are reliable and trustworthy. Remember, doing thorough research and due diligence is key to making informed decisions in the forex market.
Education
by UnknownUnicorn15614419
8
DOUBLE BOTTOM FORMATIONThis model is a W-shaped pattern. It is formed at the "bottom" of the market. It serves as a reversal model. When identifying a double bottom formation, look for price patterns that occur when a price has reached a support level twice and failed to break through it. For example, consider a chart with two distinct lows, with a trough in between. The price may then make a sudden upward movement, which would be followed by two more lows. More on this below: Set entry and exit points: Once the double bottom pattern has been identified, it's important to set entry and exit points. The entry point should be when the market breaks above the high between the two bottoms. The stop loss should be placed below the lower bottom and the take profit should be placed a few pips above the high between the two bottoms. There are 3 methods of entry on it. 1. On the breakout of the neck level. - The breaking candle should not be a candle of indecision, even if it closes above/below the neckline. The breakout candle should be without big spikes. 2. On a pullback to the broken neckline. - Signals from price action like (Pinbar, Inside Bar, PPR, etc.) should appear. Without them, in fact, just on the bounce from the level, you should not enter, there is a big risk. 3. On the 2nd peak level (the riskiest method). - Candlestick patterns or built-in price action formations should be formed. Built-in formations are the pattern that formed inside some more significant pattern. That is, we have a W-shaped pattern. The price makes the second peak and another pattern can be formed on this second peak. It can be 1-2-3 formation or Head and Shoulders, etc. Monitor the trade carefully. Monitor the trade closely and adjust the stop loss and take profits as necessary. If the double bottom pattern fails and the price breaks below the lower bottom, close the trade and re-evaluate the market. If the double bottom pattern fails, it is important to re-evaluate the market, because this could mean the end of the current trend.
Education
by UnknownUnicorn15614419
8
Signal Providers: Red Flags to Watch Out ForSignal providers are becoming increasingly popular among traders, offering automated trading recommendations or strategies to take advantage of forex. However, it is important to be aware of potential red flags that may indicate that a signal provider is not trustworthy. In this post, we will look at some of the most common "red flags" that signal providers can exhibit and how to recognize them. We'll discuss when to be suspicious, what to look out for, and how to avoid being scammed by signal providers. Unrealistic returns One of the most common red flags to look out for when researching signal providers is unrealistic claims about future returns. If they promise huge returns with no risk and little investment, it could be a sign that they are not being honest and realistic about the strategies they offer. Always do your own research to ensure that the results claimed by the signal provider are accurate and that you are getting a fair deal. These can be third party marketplaces that help verify trades. Hidden charges Be aware of any hidden costs or fees that the provider may charge. Many providers may advertise low rates or free services, but they may hide additional costs or fees that will be charged after a period of time. Be sure to read the terms and conditions carefully to understand what fees may be associated with the service. You should also contact customer service to see if there are any additional costs or fees that you have not considered. Competing interests Be wary of signal providers that have potential conflicts of interest, such as those that receive commissions from the trades they recommend. This can lead to biased recommendations and put your money at risk. Only use providers that have no conflict of interest and are unbiased. Inadequate customer service Signal providers with poor customer service should also be avoided. If a provider is unresponsive or unwilling to answer your questions, it could be a sign that they cannot be trusted. In addition, signal providers that do not provide adequate support to their customers can be a red flag. If you are being ignored for a long time, there is a high probability that you have been scammed for money. Lack of personalization If a signal provider does not offer any customization options for their strategies, it could be a sign that they do not provide personalized services. Always go for those providers who are willing to customize their strategies to suit your individual needs. Insistent demand to deposit your money Finally, look out for those providers who are pressuring you to fund your account immediately. These are big hints of unclean services. If they use aggressive sales tactics or make unrealistic promises, it could be a sign that they are not trustworthy. Always do your own research and make sure you understand all the risks and benefits of different investment options before depositing money. For example, you buy a subscription signal provider after a few days you are charged extra money for 100% utilization of the service. By understanding the red flags that signal providers may show, you can be sure to protect yourself from potential scams and fraud. If you have any doubts or concerns, be sure to do your own research and only use providers that you trust. Be sure to watch out for warning signs that may indicate a possible fraud or scam. These include, but are not limited to: if the provider asks for your banking information, if the provider asks for your social security or credit card numbers, if the provider asks for your personal information or money in an unusual or too random way. Run away from such signal providers.
Education
by UnknownUnicorn15614419
9
4 BUYING OPPORTUNITIES1. Impulse Move Buying Opportunity Impulse move buying is a trading strategy that involves buying when the price makes an impulse move from the key level. Price makes a higher high, breaking through the previous high—a break of structure. The market pulls back to 1/3 of the impulse move, and then traders can look for signals. Usually, price action doesn't make a deep pullback after an impulsive movement. A stop-loss may be placed at the 61.8% Fibonacci level. 2. Golden Zone Buying Opportunity Golden zone buying is a trading strategy that involves buying at a 61.8% Fibonacci level. The price pulls back to the key level and bounces off. Price action breaks the structure by making higher highs and higher closes above the previous high. The market can potentially cause a complex pullback towards the golden zone. The 61.8% golden zone must line up with a significant level, forming a confluence zone. The stop-loss may be placed at the 88.6% Fibonacci level, which is near the key level. 3. Institutional-Level Buying Opportunity Institutional-level buying occurs when large market participants collect liquidity at the key structure level. The price movement of the institutions may be recognized when prices make large moves like engulfing candles or pinbars. This zone creates supply and demand levels. As a general rule, the market breaks through the structure and pullbacks to the 78.6% discount zone, and at this point we can look for buying opportunities. A stop loss can be placed at the 113% Fibonacci inversion level of the leg that breaks the structure, which is HH-HL. 4. Stop Hunt Level Buying Opportunity Stop hunting level Buying is a trading strategy that involves buying a security at a price level that is attractive to large traders. This type of buying opportunity is typically used when a price reaches a level that is seen as attractive by large traders. The strategy is often used to capitalize on market inefficiencies and take advantage of the momentum created by large traders. The price action after the breaking structure usually returns to the key level by making a deep pullback. Many traders at this point have closed their positions, thinking the price might continue to move down. However, large institutions that pushed prices out of this zone protected the level, and prices continue to trend in the primary direction. The entry point is usually 88.6% Fibonacci, which gives the best R/R. A Stop loss below the level at the Fibonacci inversion level.
Education
by UnknownUnicorn15614419
11
TRANSPARENCY IN PROVIDING FOREX SIGNALSTransparency of forex signal providers is an important concept for making successful trading decisions. Transparency of forex signal providers means that an investor can view a signal provider's trading history, including results and statistics. This gives an investor the opportunity to evaluate the verified trading history and make a decision on whether to connect or disconnect a signal provider. The advantage of forex signal provider transparency is simply invaluable. As every investor knows, there are many signal providers in the Forex market with bad reputations which can cause an investor great losses. This is why it is essential to have transparent information about signal providers, which gives the investor the advantage of making a more informed decision. Fortunately, thanks to technology and global support from forex brokers, transparency of forex signal providers is becoming more and more accessible. Usually trading platforms provide detailed information about signal providers, including their trading history, results, win/loss percentages, types of trading strategies, etc. This gives investors confidence in their decision, which means they don't have to worry about the signal provider hiding information. Forex signal providers are important to traders because they provide information that can help them make investment decisions. Therefore, it is very important for signal providers to be transparent. To have the right to be called transparent, forex signal providers should provide traders with complete and reliable information about their methods of analysis and trading. This way, traders can make an objective and informed decision on whether to use their services. Here are a few signs of transparency that can help traders evaluate a forex signal provider: 1. Open price presentation: the forex provider should present transparent prices for currency pairs, including spreads, commissions and other fees. 2. Transparent pricing: Forex signal providers must provide traders with complete information about the rates and terms of their services. This will help traders avoid misunderstandings and miscommunication in trading. 3. Transparency in the process: Forex signal providers must also provide traders with detailed information about how they analyze and trade the markets. This way, traders can get more information about how the signal provider makes decisions. 4. Open risk policies: Transparent forex providers have a clear risk policy and provide information about their policies and precautions. 5. Openness about historical results: Forex providers must provide access to their historical results to show you how they operate. Given the above signs of transparency, you will be able to choose a reliable forex provider and make the right decision about your trading actions. You will need to do your homework and study the market, but this will allow you to choose a transparent forex provider that will give you the opportunity to profit in forex trading. Overall, the transparency of a forex signal provider is an essential part of successful trading. Traders should have access to complete and reliable information in order to make the most of their investment. In conclusion, the transparency of forex signal providers plays a key role in successful trading. Thanks to the availability of information about signal providers, investors can properly assess their risks and make informed trading decisions.
OANDA:XAUUSDEducation
by UnknownUnicorn15614419
9
Best Qualities of a Signal Provider❇️ Finding the right signal provider for your trading journey can be a daunting task. With so many signal providers out there, it's hard to know which one to choose. But don’t worry—here, we’ll go over the best qualities of a signal provider so you can make an informed decision. ❇️ The first and the most important quality to look for in a signal provider is track record. A track record is important for signal providers because it gives potential clients an indication of their performance and reliability. A good track record shows that the signal provider is consistently able to generate reliable signals and generate profits for their clients, meaning that the provider has a good trading strategy. It also gives potential clients an idea of the provider's risk management practices and their ability to stay profitable in different market conditions. So before using any signal provider's services, you have to first check their track record. ❇️ The second quality to look for in a signal provider is transparency. A good signal provider should be able to explain how their signals are generated and how they interpret the data. This will allow you to assess whether their signals are suitable for your trading style. For example, if you're looking for signals for day trading, you'll want to make sure that the signal provider is generating their signals based on historical price data for that day. In order to succeed in the market, it is essential to have a comprehensive risk management strategy. See how the signal provider manages risks and takes losses in a responsible and timely manner. ❇️ The third quality to look for in a signal provider is customer service. You want to be sure that the provider is available to answer your questions and provide helpful advice. Make sure to check out the provider's customer support options before signing up. Is their customer service team responsive and helpful? Do they have a history of providing reliable signals? Also, it's important to make sure that the signal provider you choose offers a money back guarantee. This will ensure that you can get a full refund if you're not satisfied with their services. This way, you can feel confident in your decision and know that you'll be able to get in touch with support if you need it. ❇️ Cost of services. When it comes to choosing a signal provider, it's crucial to do your research and compare the cost of the signal to other providers to ensure you're getting the best value for your money. Additionally, some providers may offer discounts or other incentives to encourage the use of their services. It is best to contact the provider directly to get an accurate estimate of the cost of the signal. ❇️ This should include a step-by-step process for how they assess each signal, and how they decide whether to move forward with the investment. Additionally, you should find out whether the provider uses a computer algorithm or a team of experts to analyze the markets. Generally, larger providers will charge more for their services than smaller providers, as they have more resources and infrastructure to support the signal. ❇️ In conclusion, a good track record pretty much sums up any signal provider's trading performance and reliability. It shows you can really make good returns from them by using their services. If a signal provider doesn't have a track record, this is a bad sign and makes it hard to value their trading ability as well as signals. And eventually, it can lead to a loss of money.
Education
by UnknownUnicorn15614419
9
Forex Signals Providers - Scam? Points you should keep an eye onForex Signals Providers - Scam? Points you should keep an eye on before buying. Points: - Trading Strategy - Trade Management / Timing - Risk Management / Risk Rewards - Broker - Result Trading Strategy: Well we never know what these traders are really doing. We may see the analysis but we do not have their rules (Trading Plan). So you would need to understand their Price Action Confirmation and many more. How to act in certain scenarios and which is the best approach in these scenarios in order to get the maximum out of it. As we all know forex is a business of probabilities. With the right approach we can minimize our losses and maximize our wins. This part is completely missing. When price hits SL you do not know why and how to take the counter trade or when you can simply reenter. This is the procedure of evaluation. Trade Management/Timing: We need to catch every single trade in order to make the same profit like them. This may be very difficult. Especially if you are working at your 9-5 job. Signals may be better for full time traders. But full time traders do not need Signals obviously. You can not make time management as you are depending to your Signal Provider. At the end it will be necessary to take it as a 9-5job. Otherwise you will miss too many trades. This should not be your approach as a trader. You need to only attach in certain scenarios this is how you ensure high concentration and you can increase your win rate. Risk Management / Risk Rewards: Here I see the biggest problem. The majority provider use multiple TP Take Profit Levels like TP1 TP2 TP3 TP4. This does not work properly. It is simply an illusion that they make so much percentage. The only thing what they do is pips. But not the real ROI. This is what will gain you the percentages on your trading account and not pips. Of course there is a Risk Management system with pips but there you have big disadvantages as you can not scale your wins. With a percentage method you minimize your risk/losses and you maximize your wins to the fullest. Broker: Every broker has different spreads. Therefore you may not get involved in some positions or you will get stopped out. This point is only important for Signal Services where the SL are super tight. Result: Here the majority are just faking and they are claiming big results. So you need to check it. This is very difficult. You need here proven results. When they will show you their 6th Tp level hit then you know that this Channel is just giving you unreal results Recommendation: What I suggest is to learn Forex by yourself and from others that are already there where you want to be. Join a community with the same goal. The community should not be too big. Otherwise it will be difficult to interact and also the mentors can not really help you individually. You need to commit yourself for at least 3years nonstop in order to really understand how this business works. It is like in any other business or 9to5 job. You will not just start from the beginning and you will understand everything. No you go to the school, seminars, .... It will just take time my friends. But I promise you with CONSISTENCY you will reach it. "Give a man a fish and you feed him for a day teach a man to fish and you feed him for a lifetime" This is my approach for this industry.
COINBASE:BTCUSDEducation
by DariusFxTrading
2
Impact of gold on the foreign exchange marketGold and other precious metals such as silver, platinum and palladium have intrinsic value as solid physical assets with important industrial applications. They also have value due to their ability to store significant amounts of wealth in a fairly small space. As a result, many people hold gold to guard against inflationary pressures and to provide a medium of exchange during turbulent times that can devalue the value of fiat currencies. Moreover, many currencies at one time or another have been pegged to gold or the so-called "gold standard". For example, from the mid-1940s to the early 1970s, gold determined the value of most of the major currencies in the world's foreign exchange markets in accordance with the Bretton Woods exchange rate system. This post-war system of fixed exchange rates collapsed in the early 1970s when then President Richard Nixon ordered the US dollar to be removed from the gold standard. US dollar and gold More recently, as the US government continues to significantly exceed its revenues under the pretext of stimulating the country's economy based on loan-freeing, investors increasingly look to gold as a hedge against the almost inevitable inflationary consequences of increased government borrowing to print more paper money. This has led to a recent inverse relationship between the value of the US dollar and gold. Moreover, as Germany realized after World War I during a devastating hyperinflationary period in the early 1920s, this kind of irresponsible fiscal policy could lead to a fall in the currency and its possible replacement with a currency pegged to gold, the standard of real value in the forex market. Euro and gold Since 1980, when gold reached its previous record high of $ 850 an ounce, the price of gold has gradually declined until 1999, when it fell to a low of $ 257 an ounce. Interestingly, the fall in gold prices roughly coincided with the introduction of the euro in January 1999. In addition, at least until the recent Greek debt crisis, the euro in the EU as a whole appreciated against the US dollar in part due to the relatively modest currency printing program controlled by the European Central Bank. This contrasts with the more active paper money printing program overseen by the Federal Reserve in the United States. Australian dollar and gold Another interesting connection between gold and currencies has to do with the value of the Australian dollar. Because as the value of gold rises, the Australian dollar tends to rise as well. Basically, this link stems from the fact that Australia has significant gold reserves. In addition, Australia is a net exporter of gold, and the precious metal accounts for a large share of its national exports. These factors make the value of the Australian dollar particularly susceptible to fluctuations in gold prices, although its value is also influenced by the prices of oil and other key commodities. As a result, the Australian dollar is often referred to as a commodity currency by forex traders. Swiss franc and gold In 2000, the Swiss franc became the last national fiat currency to be removed from the time-honored gold standard. Until this time, the Swiss franc had the status of a safe haven currency, which retained intrinsic value during difficult times, as it was freely convertible into gold. The Swiss currency continues to benefit less from buying a safe haven due to its long history of political stability, neutrality and refraining from conflict. However, the currency's former close relationship with the value of gold has dropped significantly. Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩‍💻 Information taken from the forex-station forum
OANDA:XAUUSDEducation
by Lingrid
5
Cumulative flat, consolidation zone. How to make money on it?A cumulative flat or a consolidation zone is like a flat of a small width, up to 20-25 points (it is usually formed during the Pacific trading session, overtaken by the opening of the main sessions). For yourself, you can select a consolidation zone in the form of a rectangle, so the eye perceives the formation better. The entry point is either on the breakout of the consolidation zone, or on a pullback, after price fixing. Stop loss is placed beyond the opposite border from the entry point relative to the accumulative flat Rules: 1) The consolidation zone is a cumulative flat with a width of no more than 20-25 points 2) It is important to see it, mark it, select this area in the form of a rectangle 3) Important! We are waiting for an impulse exit from accumulation, here you can trade both the exit from accumulation itself and entry into the market, after fixing above / below the border of the accumulative flat 4) We set up a protective order, if the price does not go in our direction, we will calmly exit the market and enter the next time. The entry point for the breakout of the consolidation zone is the most important and most valuable. It often happens that after exiting such accumulation, the price can go in one direction for the whole day session, this will make it possible to earn a lot of money. Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩‍💻
Education
by Lingrid
3
How do I analyze vertical volumes?“All transactions leave indelible marks on the volume and price charts” A. Elder Understanding the market and finding profitable trades is the goal of any trader. Analysis of the relationship between price movement and vertical volumes dramatically increase the chances of reaching it. The volume element consists of actions of two people - seller and buyer. When the price moves, only one half of the participants wins. The other half is losing money feels fear and dissatisfaction with myself. VERTICAL VOLUME Vertical volume is the total number of shares or contracts sold over a given period of time in physical or monetary terms. The vertical volume is usually displayed as a histogram below the price chart. Volume is activity. By analyzing the activity of traders during various price changes, the trader builds expectations regarding the subsequent development of events. How to Analyze Vertical Volume? By itself, the vertical volume does not carry sufficient information to make trading decisions. Vertical volume is analyzed only in conjunction with price action. 1) An increase in volume during a price increase predicts even higher prices. Accordingly, an increase in volume during a price decline predicts even lower prices. 2) A huge volume, more than twice the normal volume, warns of a possible trend change. 3) A rising price with less volume than the previous peak predicts the end of the current growth. Accordingly, a falling price with a volume less than at the previous bottom predicts the end of the current decline. Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩‍💻
Education
by Lingrid
8
How to make money with BANKING LEVELThese are strong levels, from which many large players enter the international currency exchange. This is the price range that central banks want. This information is not freely available, but it can be found using the technical forecasting method. It can be described as follows: Banks buy / sell currency on the international currency exchange not for the purpose of speculation, but in order to maintain a balance of real demand and supply of currency It works like this: central banks are conducting billions of dollars in interventions that can significantly disrupt the balance of power between bears and bulls on the Forex chart. The prices at which the transactions are carried out correspond to the closing prices of the last session. Accordingly, it is important to navigate to 0.00 London time. To do this, take the last candlestick that closed at the end of the session and look at the level at which it closed. This will be the desired value from which you can work. When the price approaches this level, decisions should be made, since the mark is really very important. The rule for building bank levels: 1. In the terminal, enable the function of displaying period separators 2. The terminal time must be in London, if your broker has a terminal time and the period separators are different, then you need to find a candle on the HOUR TIME FRAME corresponding to 00:00 London time 3. Draw the CANDLE CLOSING LEVEL along the body of the candle 4. This level will work as an entry point or a point for taking profit, but not on the day it appeared, but only on the next 5. After working out this level, we will delete it so that it does not interfere. We do not make more than 1 entry point at such levels Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩‍💻
Education
by Lingrid
6
The most speculative and important currenciesUSD Positive points: -Main reserve currency for global transactions -Currency of the strongest world economy - The most important currency in the world - Considered a safe investment Negative points: - Attempts to weaken the US dollar to combat the trade deficit. - Volatility due to information warfare against Fed countries that stop using US dollars for international transactions. GBP Positive points -It is one of the most liquid currencies -10-year bond rate higher than German bonds -Potential trade agreement between US and UK after Brexit. Negative points -Current account deficit. - Inflation below the target of 2% - Uncertainty due to the low political settlement of Brexit with the European Union CAD Positive points -USA is one of the main trading partners of Canada. -Currency pegged to the price of commodities, mainly oil Negative points -Interest rate 1.75% below the Fed's interest rate, not profitable for carry trade -High inflation, which can lead to higher interest rates - Weakness due to falling oil prices. - Latent risk: The United States is imposing import duties. NZD Positive points -Australia is their main business partner -Currency is tied to goods - tends to increase when there is an inclination to take risks Negative points - Impact due to a slowdown in Australian economic growth - Bearish interest rate cycle since late 2016 EUR Positive points: - Belongs to a very powerful economic zone with great potential. -It is an international reserve currency. Negative points: -Inequality of public finance between member countries - Interventions by the ECB to pump liquidity at a 0.00% interest rate. -Uncertainty of the trading future amid Brexit -The threat of a weakening economy CHF Positive points -Strong correlation with gold -Safe Haven currency in the face of uncertainty and inflation -Direction for private bank investment Negative points -Currently has a negative reference rate of -0.74% - The economy has very low inflation JPY Positive points -Slight increase in inflation - This is a currency that strengthens in the face of uncertainty scenarios Negative points -Continuous increase of assets in the Bank of Japan's Balance Sheet -Weakness in carry trade scenarios -Negative interest rate at 0.10% AUD Positive points -It can be strengthened in the face of inflationary pressures and uncertainties. -Currency correlated with gold Negative points -Constant decrease in the interest rate since the end of 2010 -Weakness in the US-China trade war -Dropping prices in the real estate market
Education
by Lingrid
6