Retail traders start their journey to financial trading with a significant disadvantage. Statistics won’t help. Most of them lose the first deposit. As such, finding the right FX strategy became the norm. However, there’s a catch. What is the right FX strategy? Because people have distinct backgrounds, what works for one doesn’t for the other. […]
Success. Everyone strives for it; few achieve it. That’s true specifically in Forex trading. What does it take to be successful in currency trading? An FX trader has odds against it from the start. Everyone wants a “bit” of his/her trading account. From brokers to other market players, they all influence prices. Except for the […]
In the golden times of technical analysis, one name stood above everyone’s: Richard Donchian. Also called the father of trend following, he built the now famous Donchian channel indicator mt4 traders use. Despite its reputation, the Donchian channel indicator is not only a trending tool. Instead, it plays a vital role in showing volatility. Or, […]
For long, moving averages define the direction of a market. Any technical Forex analysis course starts with an exponential moving average. Or, any type of other moving averages that exist. Traders use moving averages to predict price direction. However, for many, they lag too much. It means that moving averages define a bull or a […]
Technical analysis is the base of speculation. Therefore, understanding technical analysis using multiple timeframes comes handy in Forex trading. Moreover, technical analysis using multiple timeframes by Brian Shannon became almost a cult among retail traders. And, for a good reason. Brian took technical analysis to a new level. His approach to Forex trading looks at […]
With an average daily trading volume of more than $5 trillion, the foreign exchange market – forex for short – is clearly a lucrative one. Forex involves the trading of world currencies in a decentralized global market and has become the hottest area in world trading in recent years. Forex is becoming increasingly popular around […]
Forex money management should be every trader’s first concern. Managing Forex money means managing risk and a Forex money management strategy must exist. Traders use various tools, with a Forex money management calculator being one of them. It may sound fancy, but it’s true. No matter how good you are, or how good your trading […]
Technical analysis has plenty of indicators showing trending conditions or acting as oscillators. The TRIX indicator MT4 together with the TEMA indicator come to complete the list. Moreover, a TRIX Forex indicator acts like an oscillator, while the TEMA indicator shows trending conditions. When used together, TEMA and the TRIX indicator form one of the most […]
Among classic technical analysis pattern, the head and shoulder chart pattern stands out of the crowd. A head and shoulders chart is a reversal pattern that allows incorporating both price and time in an analysis. I wanted to get your attention from the first paragraph. Reread it! What’s unusual? Price and time. In Forex trading, […]
Forex traders approach the market from different perspectives. Some expect quick and very fast profits. This is scalp trading. Others, invest. They have a different time horizon in mind. As such, scalp trading strategies simply won’t fit their personality. Retail traders love scalping. They like the idea of making a quick profit. If you come […]
