In this educational article, I will teach you how to apply a position size calculator in Forex and calculate a lot size for your trades depending on a desired risk . Why do you need a position size calculator? Even though, most of the newbie traders trade with the fixed lot , the truth is that fixed lot trading is considered to be very risky ....
Once you have decided that you need discipline in your trading, knowing where to start can be difficult and overwhelming. There are many pieces to a trading plan, and it's easy to feel overwhelmed. You can break the task into manageable sections and master one discipline at a time, or focus on the the discipline you need. This approach makes the process more...
Hello, here is a cheat sheet for Elliott Waves for top 10 Rules, so you can print this out and keep on your desk. The Elliott wave principle is a form of technical analysis that finance traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective factors....
Social Media... the part of the Internet that is very dangerous when it comes to promises, money, and wealth. We've all seen it: on social media, you can supposedly make millions in under 15 minutes. Pictures with a Lamborghini and a TradingView chart above it... Let's go through some thoughts new traders may not be aware of and how to look at them with a...
We (the discord mods) are trying to get a document going where people can look for advice on how to get started in trading, its not an easy question and certainly not an easy answer, but here we go :) Be prepared that to becoming a profitable trader you will need months (even years) of training and learning, but its worth the time! The beauty of Tradingview and...
The Correlation Between Forex Currencies and Commodities🌟 🔰The interplay between forex (foreign exchange) markets and commodities is intricate and multifaceted. Understanding these connections can provide valuable insights for traders and investors. Here are some key points to consider👇 🔰Commodity Pairs (Commodity Currencies): Certain currency pairs are closely...
This is just going over a lesson I learned and seeing the price actually bounce off of my demand zone I thought it was cool.
If you want to skip all the explanations and start working with the OptiRange indicator right away , skip to the last paragraph. What are the two main approaches in manual trading? In the world of manual trading, there are two main approaches: mechanical and discretionary trading. Mechanical or systematic trading is about sticking to a set of...
Ready, set… plan? In this guide, we discuss why you need to plan your trading before trading your plan. Let’s roll. Table of Contents: »Importance of a Trading Plan »The Successful Trading Plan Doesn't Exi... »What's in a Typical Trading Day? »Markets, Strategies and Styles »Summary Venturing into trading without a plan is akin to setting sail on the ocean...
🚀 Unlocking Your Trading Potential with Bar Replay on TradingView In the whirlwind of trading, having ace tools up your sleeve can dramatically shape your strategy and success. The spotlight shines bright on TradingView’s Bar Replay feature, a gem that offers a rewind on market movements, setting the stage for strategic mastery. Let's dive into what...
Stop loss order is the order that automatically closes your trade once it reaches a specified price target. Learn all about it here. Table of Contents: 🔹What Is a Stop Loss Order? 🔹Why Stop Loss Orders Matter? 🔹Setting Stop Loss Levels 🔹Types of Stop Loss Orders 🔹Adjusting Your Stop Loss Orders 🔹Summary In trading, reducing risks is oftentimes all that matters...
Diversification is a market strategy that enables you to spread your money across a variety of assets and investments in pursuit of uncorrelated returns, hedging, and risk control. Table of Contents What is portfolio diversification? Brief history of the modern portfolio theory Why is diversification important? An example of diversification at work How to...
Mindfulness is a practice that involves being fully present and engaged in the moment, aware of your thoughts and feelings without judgment. It originates from ancient Buddhist meditation practices but has been adopted widely in various forms across the world for its mental health benefits. In this post, we'll dive a bit deeper into what it is, where it comes...
Here is the 5 TIPS TO DO with your mistakes: 1. Acknowledge Your Errors So often, we say things like, “It’s unfortunate, but market goes opposite me” or "SEC lawsuit crashed prices, so I lose" But blaming other people or minimizing your responsibility isn’t helpful to anyone. Before you can learn from your mistakes, you have to accept full responsibility for...
Hey! When we start trading we want to make a lot of money and became millionaires by the end of month. This awesome motivation could be cut off easily without following simple plan and strategy. When I started trading I entered only with 100$ account and loose it all within a month. I didn’t payed attention to my personal financial plan and rules, which cost me a...
1. Study. Learn how financial markets work. Years ago I took Khan Academy's free courses on the financial markets. It really helped reinforce what I already knew, taught me new stuff and solidified my confidence in understanding how the financial markets work. Here's the link: www.khanacademy.org Learn the basics of Technical Analysis. For this part I read...
Moving averages (MA) serve as foundational tools in technical analysis, offering insights into market trends and potential entry/exit points. This article delves into the comparison between two primary types: Simple Moving Averages (SMA) and Exponential Moving Averages (EMA), providing traders with a comprehensive understanding of their differences,...
Embarking on the thrilling journey of trading? Gear up with these invaluable lessons to empower your trading expertise: 1. Knowledge Empowers: Embark on your trading journey equipped with knowledge as your most powerful weapon. Delve deep into the intricacies of the markets, understanding their nuances with precision. Grasp the ever-changing trends, and...