Disclaimer: None of this is financial advice. I have no idea what I'm doing. Please do your own research or you will certainly lose money. I'm not a statistician, data scientist, well-seasoned trader, or anything else that would qualify me to make statements such as the below with any weight behind them. Take them for the incoherent ramblings that they are. TL;DR at the bottom for those not interested in the details. This is a bit of a novel, sorry about that. It was mostly for getting my own thoughts organized, but if even one person reads the whole thing I will feel incredibly accomplished.
For those of you not familiar, please see the various threads on this trading system here. I can't take credit for this system, all glory goes to ParallaxFX! I wanted to see how effective this system was at H1 for a couple of reasons: 1) My current broker is TD Ameritrade - their Forex minimum is a mini lot, and I don't feel comfortable enough yet with the risk to trade mini lots on the higher timeframes(i.e. wider pip swings) that ParallaxFX's system uses, so I wanted to see if I could scale it down. 2) I'm fairly impatient, so I don't like to wait days and days with my capital tied up just to see if a trade is going to win or lose. This does mean it requires more active attention since you are checking for setups once an hour instead of once a day or every 4-6 hours, but the upside is that you trade more often this way so you end up winning or losing faster and moving onto the next trade. Spread does eat more of the trade this way, but I'll cover this in my data below - it ends up not being a problem. I looked at data from 6/11 to 7/3 on all pairs with a reasonable spread(pairs listed at bottom above the TL;DR). So this represents about 3-4 weeks' worth of trading. I used mark(mid) price charts. Spreadsheet link is below for anyone that's interested.
I'm pretty much using ParallaxFX's system textbook, but since there are a few options in his writeups, I'll include all the discretionary points here:
I'm using the stop entry version - so I wait for the price to trade beyond the confirmation candle(in the direction of my trade) before entering. I don't have any data to support this decision, but I've always preferred this method over retracement-limit entries. Maybe I just like the feeling of a higher winrate even though there can be greater R:R using a limit entry. Variety is the spice of life.
I put my stop loss right at the opposite edge of the confirmation candle. NOT at the edge of the 2-candle pattern that makes up the system. I'll get into this more below - not enough trades are saved to justify the wider stops. (Wider stop means less $ per pip won, assuming you still only risk 1%).
All my profit/loss statistics are based on a 1% risk per trade. Because 1 is real easy to multiply.
There are definitely some questionable trades in here, but I tried to make it as mechanical as possible for evaluation purposes. They do fit the definitions of the system, which is why I included them. You could probably improve the winrate by being more discretionary about your trades by looking at support/resistance or other techniques.
I didn't use MBB much for either entering trades, or as support/resistance indicators. Again, trying to be pretty mechanical here just for data collection purposes. Plus, we all make bad trading decisions now and then, so let's call it even.
As stated in the title, this is for H1 only. These results may very well not play out for other time frames - who knows, it may not even work on H1 starting this Monday. Forex is an unpredictable place.
I collected data to show efficacy of taking profit at three different levels: -61.8%, -100% and -161.8% fib levels described in the system using the passive trade management method(set it and forget it). I'll have more below about moving up stops and taking off portions of a position.
And now for the fun. Results!
Total Trades: 241
TP at -61.8%: 177 out of 241: 73.44%
TP at -100%: 156 out of 241: 64.73%
TP at -161.8%: 121 out of 241: 50.20%
Adjusted Proft % (takes spread into account):
TP at -61.8%: 5.22%
TP at -100%: 23.55%
TP at -161.8%: 29.14%
As you can see, a higher target ended up with higher profit despite a much lower winrate. This is partially just how things work out with profit targets in general, but there's an additional point to consider in our case: the spread. Since we are trading on a lower timeframe, there is less overall price movement and thus the spread takes up a much larger percentage of the trade than it would if you were trading H4, Daily or Weekly charts. You can see exactly how much it accounts for each trade in my spreadsheet if you're interested. TDA does not have the best spreads, so you could probably improve these results with another broker. EDIT: I grabbed typical spreads from other brokers, and turns out while TDA is pretty competitive on majors, their minors/crosses are awful! IG beats them by 20-40% and Oanda beats them 30-60%! Using IG spreads for calculations increased profits considerably (another 5% on top) and Oanda spreads increased profits massively (another 15%!). Definitely going to be considering another broker than TDA for this strategy. Plus that'll allow me to trade micro-lots, so I can be more granular(and thus accurate) with my position sizing and compounding.
A Note on Spread
As you can see in the data, there were scenarios where the spread was 80% of the overall size of the trade(the size of the confirmation candle that you draw your fibonacci retracements over), which would obviously cut heavily into your profits. Removing any trades where the spread is more than 50% of the trade width improved profits slightly without removing many trades, but this is almost certainly just coincidence on a small sample size. Going below 40% and even down to 30% starts to cut out a lot of trades for the less-common pairs, but doesn't actually change overall profits at all(~1% either way). However, digging all the way down to 25% starts to really make some movement. Profit at the -161.8% TP level jumps up to 37.94% if you filter out anything with a spread that is more than 25% of the trade width! And this even keeps the sample size fairly large at 187 total trades. You can get your profits all the way up to 48.43% at the -161.8% TP level if you filter all the way down to only trades where spread is less than 15% of the trade width, however your sample size gets much smaller at that point(108 trades) so I'm not sure I would trust that as being accurate in the long term. Overall based on this data, I'm going to only take trades where the spread is less than 25% of the trade width. This may bias my trades more towards the majors, which would mean a lot more correlated trades as well(more on correlation below), but I think it is a reasonable precaution regardless.
Time of Day
Time of day had an interesting effect on trades. In a totally predictable fashion, a vast majority of setups occurred during the London and New York sessions: 5am-12pm Eastern. However, there was one outlier where there were many setups on the 11PM bar - and the winrate was about the same as the big hours in the London session. No idea why this hour in particular - anyone have any insight? That's smack in the middle of the Tokyo/Sydney overlap, not at the open or close of either. On many of the hour slices I have a feeling I'm just dealing with small number statistics here since I didn't have a lot of data when breaking it down by individual hours. But here it is anyway - for all TP levels, these three things showed up(all in Eastern time):
7pm-4am: Fewer setups, but winrate high.
5am-6am: Lots of setups, but but winrate low.
12pm-3pm Medium number of setups, but winrate low.
I don't have any reason to think these timeframes would maintain this behavior over the long term. They're almost certainly meaningless. EDIT: When you de-dup highly correlated trades, the number of trades in these timeframes really drops, so from this data there is no reason to think these timeframes would be any different than any others in terms of winrate. That being said, these time frames work out for me pretty well because I typically sleep 12am-7am Eastern time. So I automatically avoid the 5am-6am timeframe, and I'm awake for the majority of this system's setups.
Moving stops up to breakeven
This section goes against everything I know and have ever heard about trade management. Please someone find something wrong with my data. I'd love for someone to check my formulas, but I realize that's a pretty insane time commitment to ask of a bunch of strangers. Anyways. What I found was that for these trades moving stops up...basically at all...actually reduced the overall profitability. One of the data points I collected while charting was where the price retraced back to after hitting a certain milestone. i.e. once the price hit the -61.8% profit level, how far back did it retrace before hitting the -100% profit level(if at all)? And same goes for the -100% profit level - how far back did it retrace before hitting the -161.8% profit level(if at all)? Well, some complex excel formulas later and here's what the results appear to be. Emphasis on appears because I honestly don't believe it. I must have done something wrong here, but I've gone over it a hundred times and I can't find anything out of place.
Moving SL up to 0% when the price hits -61.8%, TP at -100%
Adjusted Proft % (takes spread into account): 5.36%
Taking half position off at -61.8%, moving SL up to 0%, TP remaining half at -100%
Adjusted Proft % (takes spread into account): -1.01% (yes, a net loss)
Now, you might think exactly what I did when looking at these numbers: oof, the spread killed us there right? Because even when you move your SL to 0%, you still end up paying the spread, so it's not truly "breakeven". And because we are trading on a lower timeframe, the spread can be pretty hefty right? Well even when I manually modified the data so that the spread wasn't subtracted(i.e. "Breakeven" was truly +/- 0), things don't look a whole lot better, and still way worse than the passive trade management method of leaving your stops in place and letting it run. And that isn't even a realistic scenario because to adjust out the spread you'd have to move your stoploss inside the candle edge by at least the spread amount, meaning it would almost certainly be triggered more often than in the data I collected(which was purely based on the fib levels and mark price). Regardless, here are the numbers for that scenario:
Moving SL up to 0% when the price hits -61.8%, TP at -100%
Winrate(breakeven doesn't count as a win): 46.4%
Adjusted Proft % (takes spread into account): 17.97%
Taking half position off at -61.8%, moving SL up to 0%, TP remaining half at -100%
Winrate(breakeven doesn't count as a win): 65.97%
Adjusted Proft % (takes spread into account): 11.60%
From a literal standpoint, what I see behind this behavior is that 44 of the 69 breakeven trades(65%!) ended up being profitable to -100% after retracing deeply(but not to the original SL level), which greatly helped offset the purely losing trades better than the partial profit taken at -61.8%. And 36 went all the way back to -161.8% after a deep retracement without hitting the original SL. Anyone have any insight into this? Is this a problem with just not enough data? It seems like enough trades that a pattern should emerge, but again I'm no expert. I also briefly looked at moving stops to other lower levels (78.6%, 61.8%, 50%, 38.2%, 23.6%), but that didn't improve things any. No hard data to share as I only took a quick look - and I still might have done something wrong overall. The data is there to infer other strategies if anyone would like to dig in deep(more explanation on the spreadsheet below). I didn't do other combinations because the formulas got pretty complicated and I had already answered all the questions I was looking to answer.
2-Candle vs Confirmation Candle Stops
Another interesting point is that the original system has the SL level(for stop entries) just at the outer edge of the 2-candle pattern that makes up the system. Out of pure laziness, I set up my stops just based on the confirmation candle. And as it turns out, that is much a much better way to go about it. Of the 60 purely losing trades, only 9 of them(15%) would go on to be winners with stops on the 2-candle formation. Certainly not enough to justify the extra loss and/or reduced profits you are exposing yourself to in every single other trade by setting a wider SL. Oddly, in every single scenario where the wider stop did save the trade, it ended up going all the way to the -161.8% profit level. Still, not nearly worth it.
As I've said many times now, I'm really not qualified to be doing an analysis like this. This section in particular. Looking at shared currency among the pairs traded, 74 of the trades are correlated. Quite a large group, but it makes sense considering the sort of moves we're looking for with this system. This means you are opening yourself up to more risk if you were to trade on every signal since you are technically trading with the same underlying sentiment on each different pair. For example, GBP/USD and AUD/USD moving together almost certainly means it's due to USD moving both pairs, rather than GBP and AUD both moving the same size and direction coincidentally at the same time. So if you were to trade both signals, you would very likely win or lose both trades - meaning you are actually risking double what you'd normally risk(unless you halve both positions which can be a good option, and is discussed in ParallaxFX's posts and in various other places that go over pair correlation. I won't go into detail about those strategies here). Interestingly though, 17 of those apparently correlated trades ended up with different wins/losses. Also, looking only at trades that were correlated, winrate is 83%/70%/55% (for the three TP levels). Does this give some indication that the same signal on multiple pairs means the signal is stronger? That there's some strong underlying sentiment driving it? Or is it just a matter of too small a sample size? The winrate isn't really much higher than the overall winrates, so that makes me doubt it is statistically significant. One more funny tidbit: EUCAD netted the lowest overall winrate: 30% to even the -61.8% TP level on 10 trades. Seems like that is just a coincidence and not enough data, but dang that's a sucky losing streak. EDIT: WOW I spent some time removing correlated trades manually and it changed the results quite a bit. Some thoughts on this below the results. These numbers also include the other "What I will trade" filters. I added a new worksheet to my data to show what I ended up picking.
Total Trades: 75
TP at -61.8%: 84.00%
TP at -100%: 73.33%
TP at -161.8%: 60.00%
Moving SL up to 0% when the price hits -61.8%, TP at -100%: 53.33%
Taking half position off at -61.8%, moving SL up to 0%, TP remaining half at -100%: 53.33% (yes, oddly the exact same winrate. but different trades/profits)
Adjusted Proft % (takes spread into account):
TP at -61.8%: 18.13%
TP at -100%: 26.20%
TP at -161.8%: 34.01%
Moving SL up to 0% when the price hits -61.8%, TP at -100%: 19.20%
Taking half position off at -61.8%, moving SL up to 0%, TP remaining half at -100%: 17.29%
To do this, I removed correlated trades - typically by choosing those whose spread had a lower % of the trade width since that's objective and something I can see ahead of time. Obviously I'd like to only keep the winning trades, but I won't know that during the trade. This did reduce the overall sample size down to a level that I wouldn't otherwise consider to be big enough, but since the results are generally consistent with the overall dataset, I'm not going to worry about it too much. I may also use more discretionary methods(support/resistance, quality of indecision/confirmation candles, news/sentiment for the pairs involved, etc) to filter out correlated trades in the future. But as I've said before I'm going for a pretty mechanical system. This brought the 3 TP levels and even the breakeven strategies much closer together in overall profit. It muted the profit from the high R:R strategies and boosted the profit from the low R:R strategies. This tells me pair correlation was skewing my data quite a bit, so I'm glad I dug in a little deeper. Fortunately my original conclusion to use the -161.8 TP level with static stops is still the winner by a good bit, so it doesn't end up changing my actions. There were a few times where MANY (6-8) correlated pairs all came up at the same time, so it'd be a crapshoot to an extent. And the data showed this - often then won/lost together, but sometimes they did not. As an arbitrary rule, the more correlations, the more trades I did end up taking(and thus risking). For example if there were 3-5 correlations, I might take the 2 "best" trades given my criteria above. 5+ setups and I might take the best 3 trades, even if the pairs are somewhat correlated. I have no true data to back this up, but to illustrate using one example: if AUD/JPY, AUD/USD, CAD/JPY, USD/CAD all set up at the same time (as they did, along with a few other pairs on 6/19/20 9:00 AM), can you really say that those are all the same underlying movement? There are correlations between the different correlations, and trying to filter for that seems rough. Although maybe this is a known thing, I'm still pretty green to Forex - someone please enlighten me if so! I might have to look into this more statistically, but it would be pretty complex to analyze quantitatively, so for now I'm going with my gut and just taking a few of the "best" trades out of the handful. Overall, I'm really glad I went further on this. The boosting of the B/E strategies makes me trust my calculations on those more since they aren't so far from the passive management like they were with the raw data, and that really had me wondering what I did wrong.
What I will trade
Putting all this together, I am going to attempt to trade the following(demo for a bit to make sure I have the hang of it, then for keeps):
"System Details" I described above.
TP at -161.8%
Static SL at opposite side of confirmation candle - I won't move stops up to breakeven.
Trade only 7am-11am and 4pm-11pm signals.
Nothing where spread is more than 25% of trade width.
Looking at the data for these rules, test results are:
Adjusted Proft % (takes spread into account): 47.43%
I'll be sure to let everyone know how it goes!
Other Technical Details
ATR is only slightly elevated in this date range from historical levels, so this should fairly closely represent reality even after the COVID volatility leaves the scalpers sad and alone.
The sample size is much too small for anything really meaningful when you slice by hour or pair. I wasn't particularly looking to test a specific pair here - just the system overall as if you were going to trade it on all pairs with a reasonable spread.
Here's the spreadsheet for anyone that'd like it. (EDIT: Updated some of the setups from the last few days that have fully played out now. I also noticed a few typos, but nothing major that would change the overall outcomes. Regardless, I am currently reviewing every trade to ensure they are accurate.UPDATE: Finally all done. Very few corrections, no change to results.) I have some explanatory notes below to help everyone else understand the spiraled labyrinth of a mind that put the spreadsheet together.
I'm on the East Coast in the US, so the timestamps are Eastern time.
Time stamp is from the confirmation candle, not the indecision candle. So 7am would mean the indecision candle was 6:00-6:59 and the confirmation candle is 7:00-7:59 and you'd put in your order at 8:00.
I found a couple AM/PM typos as I was reviewing the data, so let me know if a trade doesn't make sense and I'll correct it.
Insanely detailed spreadsheet notes
For you real nerds out there. Here's an explanation of what each column means:
Pair - duh
Date/Time - Eastern time, confirmation candle as stated above
Win to -61.8%? - whether the trade made it to the -61.8% TP level before it hit the original SL.
Win to -100%? - whether the trade made it to the -100% TP level before it hit the original SL.
Win to -161.8%? - whether the trade made it to the -161.8% TP level before it hit the original SL.
Retracement level between -61.8% and -100% - how deep the price retraced after hitting -61.8%, but before hitting -100%. Be careful to look for the negative signs, it's easy to mix them up. Using the fib% levels defined in ParallaxFX's original thread. A plain hyphen "-" means it did not retrace, but rather went straight through -61.8% to -100%. Positive 100 means it hit the original SL.
Retracement level between -100% and -161.8% - how deep the price retraced after hitting -100%, but before hitting -161.8%. Be careful to look for the negative signs, it's easy to mix them up. Using the fib% levels defined in ParallaxFX's original thread. A plain hyphen "-" means it did not retrace, but rather went straight through -100% to -161.8%. Positive 100 means it hit the original SL.
Trade Width(Pips) - the size of the confirmation candle, and thus the "width" of your trade on which to determine position size, draw fib levels, etc.
Loser saved by 2 candle stop? - for all losing trades, whether or not the 2-candle stop loss would have saved the trade and how far it ended up getting if so. "No" means it didn't save it, N/A means it wasn't a losing trade so it's not relevant.
Spread(ThinkorSwim) - these are typical spreads for these pairs on ToS.
Spread % of Width - How big is the spread compared to the trade width? Not used in any calculations, but interesting nonetheless.
True Risk(Trade Width + Spread) - I set my SL at the opposite side of the confirmation candle knowing that I'm actually exposing myself to slightly more risk because of the spread(stop order = market order when submitted, so you pay the spread). So this tells you how many pips you are actually risking despite the Trade Width. I prefer this over setting the stop inside from the edge of the candle because some pairs have a wide spread that would mess with the system overall. But also many, many of these trades retraced very nearly to the edge of the confirmation candle, before ending up nicely profitable. If you keep your risk per trade at 1%, you're talking a true risk of, at most, 1.25% (in worst-case scenarios with the spread being 25% of the trade width as I am going with above).
Win or Loss in %(1% risk) including spread TP -61.8% - not going to go into huge detail, see the spreadsheet for calculations if you want. But, in a nutshell, if the trade was a win to 61.8%, it returns a positive # based on 61.8% of the trade width, minus the spread. Otherwise, it returns the True Risk as a negative. Both normalized to the 1% risk you started with.
Win or Loss in %(1% risk) including spread TP -100% - same as the last, but 100% of Trade Width.
Win or Loss in %(1% risk) including spread TP -161.8% - same as the last, but 161.8% of Trade Width.
Win or Loss in %(1% risk) including spread TP -100%, and move SL to breakeven at 61.8% - uses the retracement level columns to calculate profit/loss the same as the last few columns, but assuming you moved SL to 0% fib level after price hit -61.8%. Then full TP at 100%.
Win or Loss in %(1% risk) including spread take off half of position at -61.8%, move SL to breakeven, TP 100% - uses the retracement level columns to calculate profit/loss the same as the last few columns, but assuming you took of half the position and moved SL to 0% fib level after price hit -61.8%. Then TP the remaining half at 100%.
Overall Growth(-161.8% TP, 1% Risk) - pretty straightforward. Assuming you risked 1% on each trade, what the overall growth level would be chronologically(spreadsheet is sorted by date).
Based on the reasonable rules I discovered in this backtest:
Date range: 6/11-7/3
Adjusted Proft % (takes spread into account): 47.43%
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So my friend recently joined something called "IM Academy" a.k.a "Walking ATMs". He paid £200 as an entry fee then it's £150/month. If you manage to recruit two paying individuals then you do not need to pay the monthly fee. If you recruit three or more people then you start getting weekly residuals based on how many people you've recruited. For instance, for 3 people recruited is a weekly $37.50; for 12 people it's $150 a week. He wanted to call me for a 'business opportunity'. First he explained that once you pay the entry-fee, you are provided with a forex course (which I wasn't interested in but I didn't feel like it was a scam), then he mentioned how the recruitment process works (explained above) and that's when alarm bells started ringing. I understand that IM Academy may be an MLM company rather than a pyramid scheme but it still annoys me how my friend is paying for something that he doesn't need to pay for because if he really wanted to become a full-time forex trader then university is the right path (and he is not going to uni) OR to trade forex on-the-side (which doesn't really work either because you always need to be studying charts) you need to learn techniques, how to read graphs and other basic information which can all be found on the internet for free (YouTube, reddit etc) A friend and I had an argument with him and he compared IM Academy to a full-time job and how "You are never going to be the CEO". He doesn't understand that a pyramid scheme works like this. It's almost like he's in denial about a company where the people above him make money off him just by him paying his monthly-fee. What should I do? TL;DR: friend joined a pyramid scheme, is in denial and I wanna help him.
The Bitcoin Evolution System Review – How to Sign Up
Robotized and Manual Trading One of the most testing parts of exchanging for the two amateurs and experienced merchants is managing one's own feelings which could make numerous brokers overcompensate to advertise vacillations. This can at last lead to noteworthy misfortunes and in numerous occasions, bring about losing the entirety of one's contributed capital. Be that as it may, BitcoinEvolution's robotized exchanging signals removes one's feelings from the condition which means going great for predictable and beneficial exchanging choices. After actualizing an exchange signal, the BitcoinEvolution programming will start settling on choices to purchase and sell cryptographic forms of money dependent on exchanging parameters which have been introduced into the client's exchanging account. This implies financial specialists don't need to sit before the PC screen watching outlines for a considerable length of time. Moreover, merchants utilizing BitcoinEvolution calculations don't need to stress over passing up on any chances even in an unpredictable and quick moving business sector. The BitcoinEvolution calculation has a period jump of 0.01 seconds. This implies the calculation is equipped for finishing a market investigation and consequently executing an exchange before the market even starts to move. No manual broker would have the option to approach that. Likewise, the Bitcoin Evolution System doesn't work at a similar speed as BitcoinEvolution. Since it takes the Bitcoin Evolution System longer to dissect advertise developments, numerous possibly gainful exchanging openings are frequently lost. BitcoinEvolution investigations the business sectors at a fast speed and with unimaginable precision. This can be particularly helpful for those exchanging on littler time allotments where the business sectors will in general move rapidly and with essentially raised degrees of instability. Precise Trading Signals During client tests, BitcoinEvolution's different mechanized exchanging signals were reliably gainful in all cases. This implies financial specialists can rest serenely knowing their danger of misfortune has been limited. Maybe the best piece of BitcoinEvolution's precise mechanized exchanging signals is that speculators can, not just rest soundly having a sense of security about their cash, they can have confidence they are truly bringing in cash while they rest. Then again, there might be times whenever a merchant sees a particular chance and needs to hop on it. This is the reason BitcoinEvolution permits clients to change to manual exchanging mode whenever. With this sort of adaptability and precision, speculators utilizing exchange signals from BitcoinEvolution will make certain to never pass up on a chance to make a gainful exchange. At the point when we contrasted the BitcoinEvolution with the Bitcoin Evolution System, we promptly saw that the Bitcoin Evolution System has a much lower level of fruitful exchanges. Truth be told, in the wake of utilizing this product for 4 days, we had lost the entirety of our exchanging capital and couldn't keep exchanging. In view of this, we suggest checking out the BitcoinEvolution programming before making a store with the Bitcoin Evolution System. Incredible Trading Experience BitcoinEvolution's foundation comes outfitted with everything a dealer should be fruitful in benefitting from the vacillations in the digital money markets. The stage offers an astounding cluster of specialized markers and simple to-peruse value graphs. This guarantees merchants will have the option to recognize all significant outline designs which could be utilized as productive signs to purchase or sell cryptographic forms of money. This product additionally permits a merchant to set their own exchanging parameters which incorporate which resources for exchange, the amount to contribute per exchange, the hazard level, the procedures to utilize and significantly more. In correlation, the Bitcoin Evolution System doesn't permit you to modify all the exchanging parameters. This product offers less adaptability when contrasted with the BitcoinEvolution framework. Additionally, BitcoinEvolution has a wide cluster of digital forms of money accessible for exchanging. These decisions are effectively open in an instinctively structured interface which makes it simple for merchants to execute exchanges. It is very clear that BitcoinEvolution has gone the additional mile to ensure the interface configuration is as instinctive and viable as could be expected under the circumstances. Moreover, during the client tests, the BitcoinEvolution stage end up being very responsive with no glitches at all. There was negligible slippage, even with progressively uncommon money sets which will in general have less liquidity. In any event, during top market hours and with numerous positions open simultaneously, the stage worked strikingly well. This assists with guaranteeing that dealers will have the option to benefit from speedy market moves all the more viably. This can be particularly basic for those exchanging on the littler time spans where part second choices are routinely required. As we have referenced previously, the Bitcoin Evolution System frequently has delays, keeping brokers from entering or leaving exchanges at the ideal resource cost. Responsive and Professional Customer Support Not exclusively is BitcoinEvolution's exchanging stage responsive, its client care group is likewise responsive and will make a special effort to support the stage's clients. The help group can be reached whenever by means of email. Upon a client trial of the client assistance reaction, the group end up being proficient of the money related markets just as the organization's administrations and items. Interestingly, client care for the Bitcoin Evolution System was very unhelpful in giving answers for basic issues identified with their product. They made some troublesome memories noting even the most fundamental inquiries during the client test directed for this audit. One client care specialist was even discourteous on the telephone. This can be a genuine worry since the Bitcoin Evolution System exchange calculations were filled with glitches and moderate responsiveness. Luckily, there is no compelling reason to manage this sort of poor client support when speculators can simply change to BitcoinEvolution, which has a far predominant stage and exchange signals. Be that as it may, it appears the Bitcoin Evolution System wouldn't like to make it simple for speculators to change to another exchange signal supplier. Sadly, the withdrawal procedure for the Bitcoin Evolution System is lumbering and confounding and a long way from clear. Is the Bitcoin Evolution System for All Traders? Is the Bitcoin Evolution System for All Traders? In principle the Bitcoin Evolution System can be utilized by all brokers, anyway because of the various glitches and specialized variations from the norm during the client test for this survey, it's anything but a smart thought for unpracticed dealers to utilize the stage. Unpracticed dealers will make some troublesome memories disclosing to the client assistance group the issues they experience while utilizing the stage's exchange signals. Actually, even experienced brokers may have issues, since the client care for the Bitcoin Evolution System is very unacceptable. At the point when you pursue an exchanging programming, the objective is to make your exchanging exercises simpler. In correlation, the BitcoinEvolution programming is anything but difficult to use, in addition to it is planned so that even new dealers can utilize the product even with no related knowledge or a comprehension of the business sectors. What's more, experienced merchants can utilize the BitcoinEvolution programming to test their market investigation and exchanging systems, so it is a success win for both new and experienced dealers. Demo Trading Account Both BitcoinEvolution and the Bitcoin Evolution System offers clients the choice of beginning with a demo exchanging account. This can help ensure clients know about how the entirety of the stage capacities work before contributing genuine capital. The BitcoinEvolution demo walkthrough is thorough and gives one an away from of how the dashboard functions. This is a major in addition to as it gives a merchant genuine feelings of serenity before they put away their well deserved cash. Tributes There are a few tributes from people guaranteeing that they have had the option to make benefits from the Bitcoin Evolution System, anyway these are far and not many in the middle. Not exclusively did these tributes not state for to what extent they stayed productive, there are ordinarily more tributes and online audits asserting that the Bitcoin Evolution System brought about them losing critical cash. At times, merchants lost their whole exchanging account balance. There were a few analysts who ventured to guarantee the Bitcoin Evolution System is a trick. Despite the fact that this might be a touch of a misrepresentation, it is reasonable that a few speculators were flummoxed by the poor working of the stage. This can be especially baffling when joined with the misfortune consequences of the greater part of the Bitcoin Evolution System exchange signals. Then again, a straightforward inquiry online will uncover numerous positive surveys about the BitcoinEvolution programming, and it is obvious that its clients are winning over $1,000 consistently utilizing this instinctive and amazing programming arrangement. Pursuing the Bitcoin Evolution System is genuinely direct. Clients will have the chance to fire the sign-up process directly from the site's landing page. On the correct side of the page, there is a sign-up structure which requests that clients enter their own data. A client's first name, last name and email will be required. Subsequent to rounding this data out, a client will press the "Get Access Now" button. On the subsequent page, clients will be required to give another arrangement of individual data. The client will enter their telephone number and demonstrate which nation the person in question is enlisting from. There are a few wards which are not upheld by the Bitcoin Evolution System. For example, those living in the United States are not permitted to enroll for a record with the Bitcoin Evolution System. BitcoinEvolution has a comparative sign-up process and requires the equivalent definite individual data. The procedure to enlist with BitcoinEvolution is likewise generally straight forward, actually, it may even be somewhat simpler than the Bitcoin Evolution System. Set aside the effort to survey both programming arrangements and pick one that meets your exchanging abilities, needs and inclinations. Exchanging Accounts – BitcoinEvolution Exchanging Accounts – Bitcoin Evolution BitcoinEvolution offers different approaches to tweak one's record. The interface is direct and simple to utilize and permits certain highlights to be altered to fit every individual merchant's style and inclination. BitcoinEvolution sees customization as fundamental on the grounds that only one out of every odd speculator contemplates monetary markets. Likewise, few out of every odd merchant has a similar expansiveness of information, aptitude and experience. This is a major in addition to and contrasts from the Bitcoin Evolution System which doesn't take into account such inside and out customisation. The base store to enroll for a record with BitcoinEvolution is just $250 which makes it available to financial specialists of all pay levels. In this manner, everyone gets the opportunity to use BitcoinEvolution's algorithmic exchange signals request to profit by developments in the cryptographic money markets. Regardless of whether a client is exchanging a little record or a large number of dollars, the person in question can have confidence that BitcoinEvolution calculations will reliably include benefits, while additionally downplaying hazard. Additionally, Bitcoin Evolution Price, have made it simple for financial specialists to pull back their benefits from their records. The withdrawal procedure is simple and without problems. Endless supply of the vital structures, the agent will process the withdrawal demand inside the following 24 to 48 hours. The assets will be moved by means of the first technique used to store the cash in any case. Also, there are no expenses charged for preparing a withdrawal demand. Truth be told, BitcoinEvolution doesn't charge any expenses whatsoever. It is for these numerous reasons that we put the BitcoinEvolution programming in the lead position, and we felt that in our trial of the two programming arrangements, the presentation and achievement of the BitcoinEvolution far surpassed that of the Bitcoin Evolution System. The Bitcoin Evolution System Review – The Bottom Line – Is This the Real Deal? The Bitcoin Evolution Reviews – The Bottom Line – Is This the Real Deal? Clearly the Bitcoin Evolution System is a genuine exchanging stage which permits clients to exchange digital forms of money and Forex utilizing algorithmic exchange signals. In any case, it is likewise self-evident, after client testing, that the exchange signals are shoddy and ought to most likely be kept away from, particularly for amateurs. Truly, the stage capacities by and large, in spite of various glitches and issues with responsiveness, yet that is a quite low bar for those hoping to make genuine benefits from the money related markets. There truly is no motivation behind why anyone should consider enrolling with the Bitcoin Evolution System when BitcoinEvolution can really convey on what the Bitcoin Evolution System needs. BitcoinEvolution offers reliably productive exchange flags on a simple to-utilize exchanging stage. It likewise offers an exchanging situation that is responsive, even in unpredictable economic situations. Moreover, the stage stays responsive in any event, when a record has an enormous number of open positions. What's more, to finish everything off, BitcoinEvolution's client care group appears to be fundamentally increasingly skillful and equipped for tending to client worries than the client assistance at the Bitcoin Evolution System. Plainly BitcoinEvolution is the better decision of exchanging stage. https://www.bitcoinevolutionpro.com/
Now is the best time to take control over your finances. This article provides some quick tips for better financial management.You don't need to take classes or years of training to start seeing big savings by improving your financial management skills. Every single knowledge you learn will help. Do thorough background research on any broker you cannot trust.Check a broker's references and find someone else if you feel they say to judge their honesty. Your own experience can help you to spot a broker. When trading in the Forex market watch the trends.Don't sell when there's an upswing or downswings. In these volatile times, it's best to have multiple savings plans. Put some money into a standard savings account, more in a checking space, invest some in equities, and then put more into higher-interest arenas and even gold. Use all or some of those ideas to safeguard your money. Buy your food in bulk to save money and time. Buying product in bulk is generally less expensive if you actually use what you bought. A lot of time can be saved by cooking a week's worth of the week. The simplest way to keep your finances on track is to avoid consumer debt like the plague. Think about the time it will take in order to be paid. You shouldn't make any credit card charge that's not imperative and can't be paid off within a month. Take advantage of automated online banking alert services offered by your bank can offer you. Many banks will send emails or text message updates in the event of changes to your account. If someone is always finding extra dollars in their pockets, there is an "investment" that could (emphasis on "could") improve his financial position.Use those dollar bills and buy lottery tickets that can possibly win you the jackpot. You can sell an old laptop if you're trying to earn a little extra money every week. Even if you have a solid financial plan and budget, you can run into unexpected financial issues. It helps to know how much the late fee is and extension period allowed. Avoid ATM fees by using your bank. Financial institutions like banks often charge high transaction fees when people use other ATMs, and those can build up fast. Not every debt you have is a bad debt.Real estate can be considered a good debts. Real estate is good because, and in the short term, the interest is deductible. Another king of good debt is a college loans. Student loans generally have lower interest rates are are not repaid back after graduation. Don't cut corners to save money by putting off needed maintenance. By making sure that everything is in working order through maintenance checks, you will avoid bigger problems in the future. Learning techniques to help you properly manage your personal finances is one of the best things you can do to improve your life. Put some of the above suggestions to work. When you use these tips, you'll be able to save quite a bit of money. Now that you see proof of this working you will be more motivated! https://8tracks.com/sellmyhousecompare0
Nowadays, the fluctuation in the economies is quite common. Even in the present, you will see that many countries are facing a mild recession. Things like these affect all people in society as it leads to an increase in the expenses. When the condition of recession stabilises, then even the expenses remain the same for a common man. If a common man has to just rely on a day job, taking care of the basic expenses and also maintaining a good living standard becomes difficult. A common man needs to have an extra source of income to lead a good lifestyle. Hafizzat Rusli Lambo There are various sources to have that extra cash, but the most trending nowadays is the forex trade. There are many forex traders like Hafizzat Rusli who made a fortune out of forex trading, but there are also many who had to quit this profession in the very beginning, due to major losses. If forex trading is not done with the right strategies and techniques, then it can be very risky too, especially for the part-time forex traders. If you are a full-time trader, you can learn from your mistakes and also take steps to cover them up. Though a part-time forex trader has very limited time for forex trading and thus practicing it without preparation is not a very good idea. Read this post till the end to take away some important tips that will help you become a successful part-time forex trader. 1. Maintain A Trading Journal This is a tip that should be followed by all the traders of forex trade, but if you are a part-time trader, maintaining a trading journal should be the first thing to do. A trading journal is usually used by the forex traders to make sure that they are following their trading plans, but it can also help you have the detailed information of the trading hours. A trading journal gives you a deep insight of your trading process. With a regular job and part-time forex trading, it will be tough to keep a check on your progress. A part-time forex trader should surely maintain a trading journal to be successful. 2. Learn From Other Traders Through The Forex Trading Forums The discussion boards are getting famous and because of this, all traders have some source for guidance. On the trading forums, you will be able to find a number of both full-time and part-time traders. If you are a part-time trader, it is relevant that you will not be able to spot all the mistakes that you have been making. Spending some time on the forex trading forums, and having a discussion with full-time traders can help you a lot. The full-time traders can tell you more about new strategies, market updates, etc. They can also help you determine your shortcomings. It is important to talk to other part-time forex traders too. They can guide you regarding time management and setting up your office at home. 3. Balance And Prioritize For the part-time forex traders, the main source of income is not forex trading. The main source is their day job and the income from it has to be used to meet up the basic expenses of life. So, as a part-time trader, you must be able to maintain a balance between the money that you spend on your bread and butter and what you utilize in forex trade. The priority should be given to the expenses of your family and you should trade with what is left after you have taken care of all the essentials. Hafizzat Rusli Private Yacht To make the best of this left amount, make sure that you do not allow anything to bother you while you are trading. If you have lost the money that you had kept for trading, then do not think of investing the money you have for your basic living expenses. These tips will help you grow as a part-time forex trader. To learn more about such tips and be able to implement them, you can join the forex trading course that has been designed by Hafizzat Rusli. In the trading course, Hafizzat shares his secrets of success in forex trading. To know more click this link https://www.hafizzatrusli.com/trading-courses/
Yesss Capital LTD is a company from United Kingdom
Yesss Capital LTD is a company from United Kingdom that has been operating in the cryptocurrency mining and trading market since 2015, as well as engaging in Forex trading and having all the necessary permissions/licenses to conduct this business. https://preview.redd.it/835qwyx0wiz31.png?width=660&format=png&auto=webp&s=88e2a09764070f8b01080b41f55d70ae8a169ba2 The company has a number of unique trading techniques that make use of highly intelligent and self-learning trading systems. We also have our own software developments and trading algorithms, which enable us to considerably improve the efficiency of transactions and reduce the time required to study market trends to make the most optimal trading decisions. Thanks to our powerful scientific and technical foundation and a highly educated team of employees, Yesss Capital LTD has been able to actualize itself as a major business unit capable of consolidating huge amounts of working capital and uniting tens of thousands of investors and grateful counterparties, who have been enjoying daily significant benefits from their cooperation with us. When we look back to see tomorrow’s prospects, we realize that the multidirectional nature of our business and deep investor confidence are the bedrock of our success and the guarantee for our steady upward advancement towards the future. We understand that it is only when these factors are there that we will have no competitors both in our business and in the creation of future prospects. That is how we built our business. Today, our geographical footprint covers the entire world, where we have clients or investors. Indeed, our multi-million dollar turnover and the huge market, which we cover alone, undoubtedly makes Yesss Capital LTD one of the global leaders in investment business and investment management. #cashmoney #billionaires #earnings #billionairesclub #millionaires #makemoneyfast #makemoney #makingmoneyonline #money #makingmoney #entrepreneurs #onlinebusiness #businessman #income #billion #million #cash #onlineincome #luxurylifestyle ##earnmoney #richlife #millionairelifestyle #luxerylife #luxurystyle #richlifestyle #luxuriouslifestyle #crypto #cryptocurrency https://yesss.cc/?ref=yeess12
After months of studying up on forex, I've come up with 3 things you must acquire to become a profitable trader. 1.Risk Management: You MUST MUST MUST have good risk management. I only risk 2% of my account on each trade for 4-5%. If I lose 6% of my account in a day I will stop and if I make 6% of my account in a day I will stop. You can not overtrade/revenge trade. For example: If I have a $300 account, I divide 2% of my account by my stop loss. $6/30pips = $0.20/pip. RM is crucial to profit in these markets. Making 10% back on your account is a great ROI. And once you can consistently do that. it all just depends on your account size. because you will always risk the same amount each trade. and at the end of the day, one person can catch 100 pips and make 5% back on their account and another person can catch 500 pips for the same amount. it all boils down to percentages
Psychology: Ridding yourself of all emotions. Understanding who the market movers are and where the money actually is Keeping all thoughts positive. This category is very simple yet hard to get into tune with
Entry and exit techniques: Once you have 1&2 down. 3. will come with ease.
Just remember throughout your entire process, only you can come up with your trading plan. Just have patience.
Forex trading is thrilling, accessible, instructive, and it offers immense opportunities to make money. Forex trading is similar to any other business in the world that involves risk, expenses, profit and management. Over 90% of traders loose in the market despite of the huge volatility and volume. Self-learning can be harmful for you if you are doing it without any limits. So, you must have a guide on how to get success in Forex trading. In the journey, to be a profitable Forex trader, you have to be target oriented and disciplined. When it comes to forex trading, the first thing that you need to do is understand the Forex trading and Forex market. You have to be realistic if you want to achieve your goals related to your returns in forex. In order to be a successful trader there should be certain points that you should follow religiously. Set a goal on yourself, it could be something like 35% annual return on investment, earn 500 USD of profit, get a total of 100 pips per week. The important thing is setting a goal which is realistic and work upon those pointers to achieve consistent returns. Let’s have a look at some quick tips and tricks: 1. Discipline and planned analysis before Trading It includes everything from when to enter and when to exit, how much you are going to risk, and how much profit you are going to keep with you. You should analyze your trading style and calculate your risk as per your investment that will help you to be a achiever. These rules will guide you to trade right way. 2. Create different situations in your mind Creating all the different situations, winning and losing in your mind and the technique that you are going to use it after these situations, will make you become natural and habitual to Forex Trading. 3. Analyze your trading Analyzing your trading at the end of each day will help you in grading yourself in trading. This way you will be able to point ouSome Rule of Successful Tradingt your weakness. By analyzing yourself you will be able to see yourself whether you are working according to your rules or just lying to yourself. Treat your trading as your business, because you will have to face expenses, risks, stress and emotional trauma at a time. Keep this in your mind that a good trading needs to be in habits. One winning result doesn’t make you a professional and perfect trader. Hence practice it wisely. Always practice your strategies on a demo account before you are ready to risk your hard earned money. This will help you improve your trading without losing any money. Once you have a strategy and knowledge in place, you are good to get started with your real money and real profits. Keep in mind that financial markets are unpredictable and you need to have a way to keep the odds in your favor if you want to get success in your trading journey. The most successful traders are the most disciplined one. Trades Factory has a verified record of financial strength and consistency with innovative resources and leading this financial industry forward. Assuring you to earn your trust and dependability by delivering an outstanding trading experience with greater execution and steady cost. Happy Trading!
The main key component is one we have referenced as of now, it is additionally the one component of trading that appears to get the most consideration - The Trading Strategy.
The Trading Strategy
Your Trading Strategy is essentially how you trade, what must occur with the end goal for you to pull the trade trigger? Most trading methodologies depend on pointers, for example, RSI, Moving Average or a mix of a couple of various markers, by and by I lean toward not to trade dependent on markers. Having the option to just peruse the Price Action off the outlines will furnish you with an a lot more grounded base in deciding your trades. Whatever your decision, having a decent trading system is significant when attempting to turn into a beneficial Forex trader. The inquiry is I don't get my meaning by 'great'? What establishes a 'decent' trading technique? Most traders characterize a 'decent' trading system as one that has a high pace of progress. Truly you have to ask, how has this 'achievement rate' been built up? Over what number of trades would it say it was resolved, 10 trades? 100 trades? What's more, shouldn't something be said about posing the inquiry were all trades made after the exact strides of the trading system? It isn't as basic as finding a trading methodology that professes to have a 70% achievement rate and after that simply running with it, odds are on the off chance that you've been in the trading game for quite a while you will realize that it is never that clear. For example A Trading Strategy professes to have a triumph pace of 70% Anyway when you trade it, your prosperity rate is just 40% For what reason is this? Obviously it may be the case that maybe Trading Strategy A does not have a 70% achievement rate in any case, however suppose for this model is does. Anyway, what else could be the issue? The appropriate response is you are deficient with regards to the next two key components of a fruitful Forex Trader, how about we investigate the subsequent one.
There is one key part that influences each and every trade you take... you. Your Trading Psychology regularly is the contrast between a fruitful trade and an ineffective one.You can be the most grounded disapproved of person on the planet, however you are as yet human and as a human you have feelings. Trading is an in all respects exceptionally charged passionate game, particularly when you are trading a lot of cash, normally your feelings can surpass and impact your intuition/conduct as a trader. Now and again you will intuitively take a trade dependent on your feelings, regardless of whether you are 'Vengeance Trading' or simply being plain eager, it is all down to how solid your Trading Psychology. You could have the best Trading Strategy in the World, yet on the off chance that you have a powerless Trading Psychology, at that point it means nothing. How about we investigate a portion of the manners by which your feelings may influence your trading choices. Feelings that keep you away from taking the trade Feelings that lure you to take a trade Feelings that cloud your judgment Your Trading Psychology will improve as your presentation to the business sectors improve, obviously I am alluding to LIVE Trading with genuine cash. Trading a DEMO record is fine to begin with, yet you would prefer not to get too open to trading DEMO reserves, when you can begin trading LIVE. It would be ideal if you obviously guarantee you comprehend the dangers included, and NEVER trade with cash that you can not stand to hazard. The last key is a distinct advantage, most beginners don't comprehend the influence that it yields, the following key is Money Management.
We are on the whole extraordinary, a few of us have £5,000 put aside that we can place into trading, some have just £500 and for some those sorts of figures they can just dream of. As such we are for the most part extraordinary, we as a whole have various accounts, various points/objectives, various purposes behind trading the Forex Market. Cash Management or Risk Management, is that significant piece of trading that decides how a lot of cash you will chance on a solitary trade. This sum will be dictated by what your individual objective/s are and furthermore how a lot of cash you need to really put resources into the market. When in doubt of thumb, when you are prepared to begin trading genuinely it is ideal to hold your hazard down to 1%, and base your Money Management around that. Tragically, there are a lot of 'Forex Gurus' out there on the Internet who don't make reference to the significance of Managing your hazard (steer far away from these sorts of individuals), or express that it's alright to chance more; state 3% or even 5% (inconceivable!) The truth of the matter is it doesn't make a difference how extraordinary a Trader you believe you are, it is basically scientifically demonstrated that during your trading exercises you will have misfortunes and one to a great extent, yet keeps running of misfortunes. The inquiry you truly need to pose to yourself is, will I get by during this episode of misfortunes? Or on the other hand will it clear my record out? Suppose for example you endure a shot of 9 losing trades continuously, you hazard 5% of your record balance on each trade: Opening Account Balance: £5,000 5% Risk per Trade: £250 Risk Per Trade 9 Losses x 5% = 45% LOSS Remaining Account Balance: £2,750 You will lose simply under portion of your whole Account Balance! The time taken and the trouble in attempting to make that shortage up will be incredibly troublesome, and figuring in the way that you will in any case have losing trades, makes the entire thing much increasingly chaotic. How about we currently investigate what occurs on the off chance that we hazard just 1%: Opening Account Balance: £5,000 1% Risk per Trade: £50 Risk Per Trade 9 Losses x 1% = 9% LOSS Remaining Account Balance: £4,550 Here we lose just shy of 10% of our Trading Account Balance, an entirely sensible sum for a 9 trade losing streak. Be SMART, Trading is about capital conservation first, and taking a gander at making a benefit just once you have mulled over your Money Management. Along these lines, there you have it. A snappy take a gander at the 3 Keys to Successful Forex Trading. Learn them, it would be ideal if you share them by means of Social Media with other people who are likewise keen on the field, spread the adoration! Upbeat Trading. https://www.livingfromtrading.com/ https://preview.redd.it/4a35e8gunyj31.jpg?width=1440&format=pjpg&auto=webp&s=a9d35ca5d47dc51faaa27153549723de8597f3b0
The Top Three Important Emotions in Trading Psychology
Image source: Twitter Generally, the main aim of starting a business is to make money. However this is not always the case, sometimes you make some money, sometimes you lose some. Business ventures like forex trading are much more volatile than others. In forex trading, it is much easier to make than to lose money. Whether you make or lose money is determined by something called forex trading psychology. Forex trading psychology can be described as the art of successful forex trading that is concerned with how a trader perceives, interprets and acts on events in the forex market. Simply put, it is the art of learning to manage ones' emotions in such a way that they work to your advantage rather than working against you. Whether you make or lose money entirely depends on how well you can handle your emotions. The forex market is wholly driven and determined by human emotions and thus mastering them will put you in a better position to succeed. Just like the definition of genius which is said to be 99% hard work and 1% luck, business ventures require more of the right attitude and specific mindset. This means that to succeed in any business, you first need to set your mind right even before you can actually indulge in the venture. Trading psychology is about finding the right mindset needed to make money by combining your emotions, their interpretations, actions based on these interpretations, tips, tricks and many other techniques.
Fear is defined as an emotional response triggered by the presence of a perceived threat. Fear is often perceived as an emotion for the weak at heart but it is not. All humans have at least one item or phenomenon that they fear. In forex trading how you handle fear can make the difference between making a few hundred thousand dollars in a few minutes and losing the same in a blink of an eye. It all depends on you mastery of handling fear by carefully recognizing the risks involved, evaluating them and making decisions based on your analysis. In forex trading, many traders hesitate to trade due to the fear of failure which is most likely brought upon by failures in other aspects of their life or failures they may have experienced in the same market. Fear will stop many people from trading or cause them to make wrong or misinformed decisions if they can get past the fear of trying. The fear of losing is also very common among forex traders but if you want to make some money, you need to take risks which may result in either a profit or a loss. Forex trading is also prone to the fear of making mistakes. This will make most people hesitant but a good entrepreneur knows that he needs to learn from his or her mistakes and even those of other people. However, it should be noted that making the same mistakes over and over again is considered foolish. Forex trading psychology is aimed at enabling the trader to take more risks by getting over the fear of committing their hard-earned cash into these investments.
Hope is an emotion that manifests itself as a feeling that promotes the occurrence of a positive outcome of an action that one has taken. In forex trading, everyone is hoping to make some money and not to lose any. Just like any other business venture, forex trading is a game of probability at best -which means that you can either make or lose money. Depending on how you handle this emotion, it can lead to successful trading or to massive losses. One can incur massive losses in the event that he stays at a position for too long in the hope that things will change for the better or that he can make even more money from the situation and end up losing everything. On the other hand, one can make a fortune when your hope of making more money materializes. Thus, forex trading psychology demands that you are able to make hope to work to your advantage. While it is essential for one to hope for the best, it is also essential that one prepares for the worst.
Humans will rarely be satisfied with what they have. There is always that burning desire to get more. At times, this desire may be controllable but can easily get out of control and develop to what we call greed. Greed is a burning desire to possess items or to reap massive gain from a venture. In forex trading, greed will most likely ruin your investment. Returns on forex trading rarely go above 50% of your initial investment. However, due to greed, investors will be frequently tempted into doubling or even tripling their returns. Though this may seem as a good idea, it rarely is. Often, traders will go in very heavy and trade much larger and take more risks in an attempt to make more money. More often than not, this greed-driven endeavors will backfire in your face. Thus, forex trading psychology requires that one maintains a fine balance between the urge to make more money on your investment and greed. These two should be carefully differentiated as the former often produces the desired results while the former will most likely result in massive losses. It is therefore essential that one knows when and how to make the right move in forex trading; preferably one that is not driven by greed.
Dear Traders, My name is Ludovico and I am an associate of Horizon Trading team. Today, I would like to share with you a scalping technique that will give you an advantage in following price action fluctuations. Most importantly, this article will focus on fast timeframes trading tactics, how to spot important key levels and trigger your positions. So, do scalping and price action go well together? Considering that price action aims to predict what price is doing right now and where is heading, fast mindset and quick analysis become crucial; scalp trading is about the same thing. A scalp trade will take approximately 1 to 30 minutes, so to be effective and consistent in this discipline one must be reacting rapidly to price movements. Therefore, scalp requires quick analysis, quick responses and quick decisions, and at its core there is price action, which as well is all about speed and efficiency. Now let s move on today’s topic on how to steadily understand fast trading potential earning set ups and to become a killer scalper.
What is scalping trading?
Scalping is a trading style that specialize in profiting off small price changes. It requires high level of concentration, because, due to its speed, a trader must have a strict entry exit strategy, otherwise one large loss could cancel all the many small gains in a blink of an eye. The main features of scalping are: Less exposure, lesser risk: A smaller exposure to price fluctuation will reduce the odds to run into adverse events. Smaller moves are easier to forecast: Because like every market forex works on principles of supply and demands, a higher imbalance is needed to generate bigger price changes. Smaller fluctuations are more regular than wider ones: Even in days when markets tend to less volatile, working with smaller timeframes such as (M1, M5, M15 & M30) will still grant chance of earning more frequently. While swing trading relies on big price moves, therefore aiming for long trend following a scalper will trade that fluctuation continuously. Price action comes into play here, a solid scalp trader must be very aware of level of support and resistance and when the price could bounce off. See image Below: Figure 1: Support & Resistance, XAUUSD, M1, (23rd July 2019 In order to better find these areas a comparison between timeframes is necessary considering that is always advantageous to highlights the most recent zones of support & resistance (2 to 5 previous days) Once understanding levels strategy become easier to follow, let’s find out.
Simple scalping and Horizon X scalping pattern
When trading trends continuously, important is to gauge market signals which indicate the trend is strong, opening to new potential earning scenarios for investors. When noticing price is coming back to retest important key levels forming pullbacks, a trader should always look out for entry-points.
Scalp traders must focus on key resistance and support level to find entry point while trading pullbacks. Here at Trading Academy we developed a system, based on fast moving price action that will enable traders to have successful daily session. We based our method on understanding where big money players come into action and by following their liquidity volume open winning positions. Horizon X is based on several scalping price patterns which find their fundamentals in risk and money management, key levels and entry points. See image below: Figure 2:Scalp trading pullbacks, XAUUSD, M1, (23rd July 2019) In the picture above I highlight the principle of trading pullbacks in M1 timeframe, this method relies on entering the market in specific hot spot key levels. Even though many traders globally do not take into consideration risk management, our vision is that while scalp trade, investors should follow clear objective rules to be effective, here is one of our coral patterns and its trade management rules.
Horizon X Pattern #3
This pattern aims to gauge momentums, big money players moves, consisting in fast formation of large body candle sticks (black bearish/white bullish) Figure3: Pattern #3 configuration To be formed Pattern #3 require several steps to be accomplished by the market before we can enter our position with confidence:
When price level is broken out at consolidation level big buyers make the move dragging price level on a rally, usually between 10-15 PIPS (as the image above suggests).
Large candles (bodies)
Mostly of one colour (back/bearish, white/bullish)
Candles close its high/lows of the move
Within this first part price level is conditioned by the presence of many buyers on one side and sellers on the other stabilizing the price in a narrow range while building up important structure.
Small candles, at least 3
Greater mix between white/black or bullish/bearish candles
Second Momentum (breaking the price level at consolidation) – can be bearish or bullish depending on scenario)
When price level is broken out at consolidation level big buyers make the move dragging price level on a rally, usually between 10-15 PIPS (as the image above suggests).
Large candles (bodies)
Mostly of one colour (back/bearish, white/bullish)
Candles close its high/lows of the move
Price is coming back to retest level at the previous consolidation level and when fractal is formed market is giving investors hints that a good spot to open a position is coming up.
Small candles, at least 3
Greater mix between white/black or bullish/bearish candles
Entering the market
Pattern #3 can be traded by entering the market within the retesting price area at consolidation level, however the tactics would be based more on aggressivity of trader personality and behaviour. In this booklet we will describe the most commonly used one. Entering in consolidation structure Market needs more liquidity for further movement and is going deeper toward the structure taking stop losses of weak traders. Smarter investors, however, use these stop losses for their position gaining, entering the market when a fractal is formed. See image below: Figure 4: Pattern #3, entering market at consolidation structure, USDCHF H1 (22nd July 2019) Entering at consolidation boarder Price touches edges of consolidation and starts to reverse. We would like to open position when fractal is formed. See image below: Figure 5: Pattern #3, market entry at consolidation border, GBPUSD M1 (14th Mar 2019)
Entering after false break out
Severe stop-loss testing. Big players move price aggressively till the point that it breaks consolidation structure. This is a perfect situation for major traders to enter the market, pushing the price towards its original direction. We will conservatively open trade when the price level reaches back consolidation, forming a fractal. See image below: Figure 6: Pattern #3, market entry after false break out, GBPUSD M1 (6th June 2019)
Similarly, we can use 4 elementary exit strategies of our Horizon X Pattern #3.
We will aim for a high structure level from higher timeframes (very good as a second take profit).
For 1-minute timeframe we will take half of our position with 10 points profit as a target and put our stop-loss on break-even for the rest of the position.
Our take profit is based on having ATR 80 %.
Rule of safety. Our first take profit is set to risk-reward ratio 1:1 with a half of position. When the take profit is hit, we are in a risk-free position for the second target.
On the other hand, stop losses will be always places on top of the entry structure to avoid important losses which will likely vanish all the trader day effort.
My name is Marek Hawk and I am a professional trader of Horizon Trading Team. In today’s article, I will show you how I approach different timeframes with combined strategies which helped me to get stable income from my trading business. Recurrently, a trader can be caught by a specific trading style, which he would like to polish to the highest level. It is adequate, but why shouldn’t a trader use his/her skills for the diversification just linked to various trading styles build on diverse time periods? It is one of the most effective ways how to make a stable living from trading despite essential space for developing trader’s strategies.
In this article I characterized the difference between a month, week and day trading strategies. Our team uses all these tactics considering diversification, time effectivity, structured day trading and consistent income. Month and week trading strategy attempt to take trades for longer-time periods, meaning that a trader can let his/her money work while is doing something else. Day trading strategy is more focused on consistency and higher return, though demands more time and focus. It is possible to combine the techniques together with the same or similar tactics and use it for the effective diversification based on trading multiple time periods. The benefit will be raised and stabilized income with almost no additional time cost.
My name is Marek Hawk and I am a professional trader of Horizon Trading team. For today’s article we selected a controversial topic often discussed in trading community, it is the Martingale trading system. Would you be interested in a trading strategy that is virtually 100% profitable? Many finds this system as gambler’s tool with high risk exposure and they do not think about starting with the Martingale at all. But the Martingale strategy is based on probability theory, and if your pockets are deep enough, it has a near 100% success rate. Does it really work? Is it possible to win always in the end? Let’s find out!
How Martingale Works
The Martingale system is a simple process that involves doubling your bets after a loss. The idea is that if you can make a trade that offers probabilities, you eventually win and make enough money on the win to cover all your previous losses, and have a profit left over equal to your first bet. The Martingale is a mechanism of placing double bet in case of loss. A martingale strategy relies on the theory of mean reversion. In the end you should win at some time, the theory says, and you should make a profit. Let’s look at mechanics of the martingale system.
Examples of the Martingale Strategy
Let’s assume trading strategy which works with 1:1 risk-reward ratio and initial risk for first trade is 100 $. Your initial account balance is 10 000 USD. https://preview.redd.it/43szidw2w9b31.png?width=635&format=png&auto=webp&s=443f0d0f241e73e094ae197636ca5ad83a184cb5 First trade was speculation on growth and your long trade worked out. In another situation you found an interesting entry level to open the new long trade, but the speculation did not work out and you are back to the initial bankroll value. Next trade you needed to double your risk and you needed to open a larger position to cover the previous loss and to gain profit. Unfortunately, you suffered another loss and you had to double your risk again to 400 $. Next trade you won, and your equity raised to 10 200 $. The problem with the Martingale is the situation when you get a long streak of losing trades. You must always double your risk and in the end your last trade in the row could be huge portion of the capital, and you can be still wrong…
One of the reasons the Martingale strategy is so popular in the currency market is because, unlike stocks, currencies tend to go back to their mean. Although companies in term of probabilities can bankrupt more often, countries cannot. For example, even if currency is devalued or depreciated, the chances that currency's value reaches zero are very low. Principle of averaging the price of the Martingale trading strategy. The forex market also offers the ability to earn interest which allows traders to offset a portion of their losses with interest income. This means that a martingale trader may want to only trade the strategy on currency pairs in the direction of positive carry. In other words, they would buy a currency with a high interest rate and earn that interest while, at the same time, selling a currency with a low interest rate. With many lots, interest income can be very substantial and could work to reduce your average entry price.
In this article I described principles of the Martingale trading strategy. The system may look like a perfect winning system; however, it carries huge risk exposure of your capital. A trader needs to be prepared to work on professional money management techniques in case of building working Martingale system. I gave you some hints which tools can help managing this mathematical trading system. I described the examples of trading the Martingale trading techniques on forex markets.
DISCLAIMER: This post is purely informational, and what I've learned in the past 4 years of trading. I'm not a guru, I'm not a signal service nor do I provide trading courses. So you're interested in trading Foreign Exchange. Here's a few things I wish someone had told me 4 years ago when I started and useful tips that I've learned the hard way:
FX will not make you a millionaire over night. It's a really useful skill that many have used to perhaps quit their job AFTER several years. So don't quit your job just yet.
There is no one single golden strategy, indicator, signal provider, course, or automated bot, that has the secrets to the market and that will make you a millionaire over night.
K.I.S.S.: Keep It Simple Stupid. Overcomplicating your trading is really easy. Always remember that it's not about bars its about a price of a currency.
No matter how big your account is, how profitable you are, you are a small fish in a big ocean. There are big institutions, banks and hedge funds that control the markets. Don't fight them, swim with them.
This is a really emotional industry. Fears and anxiety will rise. You can become really hopeful when a position is going against you (Instead of cutting losses, you keep a losing position hoping it will move in your direction). And you become fearful when position is going in your favor (Instead of letting position hit your profit target you fear it might reverse, and you take profits early, leaving money on the table). Self awareness is necessary so you can identify your feelings and emotions while trading and learn to dominate them instead of letting them dominate you.
Find one or at max, two strategies and stick to them. Stop bouncing around, stick to one thing and master it completley.
Manage risk. Through out my journey I constantly heard and read people saying: "A trader is just someone that knows how to handle risk". As a rule of thumb never risk more than 1% of your account.
Lastly: DON'T QUIT. You will be tempted to quit when things do go your way. Stop, step away from the computer, and occupy your mind with something else. If you feel really stuck, take a break. A few days maybe a week (I've done it), circle around and get back to it.
Naked Forex: High-Probability Techniques for Trading Without Indicators
Forex: Effective Money Management Techniques In order to trade successfully in the forex market, it is important to add effective money management techniques in your trading plan so that you can maintain your portfolio properly and safeguard it against unexpected losses. Money management is perhaps the most important technique traders need to understand when trading the forex market. Follow these 5 tips for effective money management in the forex market. 1. Know Your Risk per Trade 2. Always Use Stop Losses 3. Consider Reward-To-Risk Ratios of Trades 4. Use Leverage Wisely 5. Don’t Trade Based on Emotions 6. Money management techniques describe how a trader defines the size of his trading positions. There are many different money management techniques that a trader can choose from. The most important factor here is that the trader chooses a specific approach and does not jump around too much. The different money management techniques are listed below: Fixed lot; Fixed percentage; and; Fixed Ratio. Fixed lot. This is the simplest way in which a trader can manage their money. This method is very intuitive and is best recommended for beginners who are still learning all the other topics of forex trading. How fixed lot money management Money management Forex refers to a set of rules that help you maximise your profits, minimise your losses and grow your trading account. While it’s pretty easy to understand the benefits of these techniques, it happens that beginners to Forex trading tend to neglect even basic money management rules and end up blowing their accounts.
Forex Trading Position Sizing & Money Management by Adam Khoo
Trading for a Living Psychology, Trading Tactics, Money Management AUDIOBOOK - Duration: 3:00:02. T F 1,727,823 views. ... Simple Forex Trading Money Management Strategies! This video outlines the best Forex money management techniques to lower risk and maximize profit potential. Learn simple rules which you can incorporate in your trading method to ensure long term ... These are the Forex trading methods that work, and they have been shown to work by lots of traders. Visit Our Site:Learn More Here: https://bit.ly/30HmgUT - 5 Simple Techniques For Creating and ... FX money management is the one thing that makes your account go up or down. ... Best FX Trading Strategies (THE Top Strategy for Forex Trading) - Duration: 32:00. No Nonsense Forex 1,815,907 views ... All about Trading in Forex and Binary Option Marked. Video Name: Simple Forex Trading Money Management [RISK] Strategies! ––––––