This tutorial on MetaTrader 4 will give you a quick and easy overview of everything you need to know to set up MetaTrader 4, how to trade MT4 and much more. Through step-by-step tutorials and the use of screenshots and detailed explanations, this review of MetaTrader 4 will help traders master the MT4 platform.
Every foreign exchange trader will use the Fibonacci retracement at some point in their trading career. Some will use it only occasionally, while others will use it regularly. But no matter how often you use this tool, the most important thing is to use it correctly every time.
Improper application of technical analysis methods will lead to disastrous results, such as poor entry points and growing losses on currency positions. Here we will look at how not to apply the Fibonacci retracement to the foreign exchange markets. Be aware of these common mistakes and you are likely to avoid making them – and enduring the consequences – in your trade.
Although prices may seem random, they do create recurring patterns and trends. One of the most basic repetitive patterns is the fractal. Fractals are simple five-bar reversal patterns. This article will explain fractals and how you can apply them to your trading strategy.
Fibonacci analysis can improve currency performance for both short-term and long-term positions by identifying key price levels that show hidden support and resistance. Fibonacci, used in conjunction with other forms of technical analysis, builds a powerful foundation for strategies that perform well in all types of market conditions and volatility levels.
In most trading books, MACD divergence is discussed and is often cited as a reason for reversing the trend or why the trend may reverse. Given the divergence, it looks great; many examples can be found in which reversal is preceded by MACD mismatch.
In most trading books, MACD divergence is discussed and is often cited as a reason for reversing the trend or why the trend may reverse. Given the divergence, it looks great; many examples can be found in which reversal is preceded by MACD mismatch.
By using the pivot point and its derivatives can help you to minimize the risk and provides forex traders with potential levels of support and resistance. Using support and resistance as starting points helps determine when to enter the market, stop, and take profits. However, many novice traders shift too much attention to technical indicators, including moving average convergence (MACD) and relative strength index (RSI). Although useful, these indicators fail to identify a point that determines risk. The unknown risk can lead to margin calls, but the calculated risk significantly improves the chances of success in the long run.
Technical indicators are used by traders to get an idea of the supply and demand of securities and the psychology of the market. The basis of technical analysis is formed by these indicators together. Metrics, such as trading volume, provide clues as to whether price movements will continue. In this way, indicators can be used to generate buy and sell trading ideas. In this list, you will learn about seven technical indicators to add to your trading tools. You don’t have to use all of them, rather choose a few that you find to help you make better position decisions.
With some experience, the trader will understand that it is possible to improve his trading results not only through market analysis, but also with the help of other techniques. In particular, it is possible to manage the size of an open position to limit risks and increase profits. Are you interested? Then let’s get into it.
There are many technical tools that help determine important levels. Traders pull these levels through previous highs and lows, use Fibonacci retracements and pivot points, trend lines and more. Important levels are used for support / resistance for the price. The more times the price touches such a level, the more valid level you have managed to find.
When the price breaks an important level, it means that it must continue to move in this direction. However, this will only happen in the event of a real breakthrough, and this does not happen every time. In many cases, the price exceeds an important level, but fails to maintain this movement. It returns to its previous trading range, so the breakout turns out to be fake.
Breakout trading is used by active investors to take a position in the early stages of a trend. Generally speaking, this kind of strategies can be the starting point for major price moves, expansions in volatility and, when managed properly, can offer low risk. Throughout this article, we’ll walk you through the basics of this type of trading and offer a few ideas to better manage this trading style.
