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Gold Forex Trading During Major Economic Events & News Releases I guess you already noticed how impulsively the markets may react to economic events and news. In this article, I will teach you a simple strategy to follow during important news release s and how to trade news. 1. Sort out the economic calendar There are a lot of news in the economic calendar. They are not equal in their impact. Most of the economic calendars indicate the potential significance of each event: while some news have low importance, some have medium importance and some are considered to be extremely important. For example, above is the list of coming UK fundamental news. You can see that these news have different degree of importance. My recommendation to you is to sort out the economic calendar in a way, so it would display only the most important news. Among the news that we discussed above, only one release has high importance. 2. Know on what trading instruments does the news have an effect While some of the news in the economic calendar may impact many financial markets and trading instruments, some news may affect very particular instruments. For example, a FED Interest Rate decision may have a very broad effect on financial markets. At the same time, Interest Rate Decision in Australia may affect only Australia - related instruments. 3. Don't trade one hour before the news and one hour after the release Once you see the important fundamental news coming, don't trade the trading instruments that can be affected by the new s 1 hour before and after the release. For example, in 5 minutes we are expecting important UK news - CPI data. I stopped trading GBP pairs 1 hour before the release of the news, and will resume trading them one hour after the release. 4. Protect your trading positions 5 minutes ahead of the news If you have an active trading position and related important news are expected, move your stop loss to entry 5 minutes ahead of the release of the news. For example, I have a short trade on GBPAUD. I see that in 5 minutes important UK data is coming. I will move stop loss to entry 5 minutes ahead of the news and make a position risk-free. I always say to my students, that news trading is very complicated. Due to a high volatility, it is very hard to make wise decision during the news releases. The approach that I suggest will help you to avoid all that and trade the markets when they are calm. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
1
5 Key Trading Tips for BeginnersWelcome back everyone to another post! In this article we will be explaining 5 key pointers (tips) for new individuals entering the trading space. When it comes to trading first there is “ understanding ” before we begin the 5 keys steps. Let me assist you in understanding what will happen when you take on trading. Trading is a challenge. Not a video game challenge, not a math test challenge – a * Challenge * One that will break you. Trading will break you mentally, physically, spiritually and financially. It is an eye-opening journey. Trading will teach you a lot about yourself, and it will teach you a lot about discipline, patience and how you can analyze markets. I saw a quote somewhere, it said trading: “ Trading is the hardest way, to make easy money ” and they are right. You will be learning how to manage risk, control your emotions, understand your own decision-making patterns. These are all invaluable lessons for life, as well as trading. Sounds great! But then there are the losses, what you lose to gain all this. Trading isn’t something that you can learn overnight – all those posts you see about a young 17-year-old “ cracking the code ” is rubbish. Why? Because they haven’t learnt life lessons. You can make money fast, but you will lose it faster if you don’t know how to manage it. Trading will drain every bit of energy out of you. You will feel like you’re falling behind, you will eventually collapse at every loss and become frustrated. The market will test you; the market doesn’t give a damn about you – you accept the risk when you take on trading and since you’re the one making the trades, it’s you VS you. You’re testing yourself. You agree to test your patience, your confidence, your mindset. Doing so will make progress feel nonexistent or slow. Every day, and every trade you will question yourself, wondering if “trading” is even for you. Sometimes it will feel like you’re going in circles. You will continue to make mistakes repeatedly. It will become exhausting but remember – only experience and your own strengths will allow you to succeed. Only those who can endure the grind without giving up will make it. So, let’s start off the 5 key pointers that will prepare you. 1) Prioritize Risk Management Over Profits: Most newbies focus first on “ making money ” rather than safeguarding capital. The reality is that surviving in the market is way more important than winning every trade you see or come across. Key Points: Determine risk per trade: A common rule is risking no more than 1-2% of your trading account on a single trade. This way even a string of losses will not wipe you out. Always use stoploss: A defined maximum loss per trade enforces discipline and emotions to stay in check. Position sizing: Your sizing should be proportional to what you’re willing to lose on each trade. Bigger trades amplify the losses, but they also amplify the profits. Why it matters: Without strong risk management, even a high win-rate strategy can fail. Protecting capital ensures you’re still in the game when opportunities arise. 2) Develop a trading plan and stick to it . Random reactive trading is the best way to lose money. Build your plan overtime. Key points: Define your strategy: Building your strategy is the longest part, constant back testing and forward testing, refining and rebuilding. You’re not “switching” your strategy if you’re adding something small to it, you’re changing it if you eliminate the whole thing. Identify your form of trades, short, mid, long term or swing trades. Set clear rules: Don’t leave anything to chance, for example “I only enter trades if price closes above the 50ema and RSI is above 50” Journalling trades: Ensure to journal all your trades, “How do I journal” Easy. Record the time, date, symbol, pair, what model/system you used, images, your entry, tp and exit, why and for how long you’ll have it open. Why it matters: Consistency is a key, it pairs with discipline, psychology and lingers with risk management. Traders who follow a disciplined system perform better than those to trade off an impulsive feeling. Other words “Gamble” 3) Master one market and one system first: Beginners usually spread themselves too thin, trying forex, crypto, stocks and commodities all at once – Unfortunately for me I made this mistake at the start which made it very difficult! – Don’t do this. Stick to one market. Key points: Pick one market: Each market has its own rhythm, volatility, and liquidity. Teaching one thoroughly allows you to understand everything about it. Focus on one system: Instead of trying every new system from you tubes or forums, master one approach and refine it onwards e.g. – you trade FVGs, Win rate is 50% once you add Fibonacci it might be e.g. 65% Avoid information overload: Social media and trading forums are filled with conflicting advice, stick to your chosen approach and refine it. People say you need to have 12-hour trading days. If you do this, you will FAIL. You will grind yourself into the ground and face burnout making it very difficult to get back up again. Limit yourself to how much trading and trading study you do a day. Eg 10 back test trades, 3 real trades, 3 journaled trades, 1 hour of studying and researching the market. Without strong risk management, even a high win-rate strategy can fail. Protecting capital ensures you’re still in the game when opportunities arise. Why it matters Depth beats breadth early on. Mastering a single market and system will allow you to build confidence and improve your edge. 4) Understand the Psychology of trading. Trading isn’t just numbers: as mentioned in “understanding” it’s a test of emotional control, fear, greed and impatience. Key points: Emotions vs logic: ensure you recognize emotional reactions like FOMO (Fear of missing out) or revenge trading. Pause before reacting to a trade that will go against you. Set realistic expectations : Markets move slowly. Sometimes for months, don’t expect huge gains overnight. Just like DCA focus on compounding. Compound your knowledge and skill set. Mindset training: Techniques like medication and journaling as well as visualization can help reduce stress and maintain discipline. Why it matters: Even a diamond system can still fail if emotions drive your actions. Psychology often determines long term success, more than technical skill. 5) Prioritize learning. Then earning. Beginners fall into the trap of trading being a “get rich quick” scheme. But the real investment is learning how the market works. Key points: Paper and demo trade first: Practice on demo accounts before you use real money – you will be surprised how many times you will fail. It’s better to fail with simulation money than your McDonalds weekly wage. Review every trade: Analyze your losing trades, but also your winning trades. Find patterns and areas to improve. Continuously educate yourself: Read books about the mind, about habits, watch market analysis but critically, apply what you learn and don’t just collect information and not use it. Why it matters: Earnings are just the byproduct trading. The faster you learn and adapt, the sooner your profits will appear. Treat early losses as tuition. Not failure. Thank you all so much for reading. I hope this benefits all those who are starting off their trading journey. If you have any questions, let me know in the comments below!
Education
by King_BennyBag
65
Understanding Discipline in TradingWelcome back everyone to another post. In today’s article we will dive deeper into the 3 keys of Trading success! As attached below. Today we will be reviewing the Key “DISCIPLINE” Just like risk management and Psychology this is also a difficult skill to maintain. In the modern world it’s considered a skill now, because most of society doesn’t have any discipline in any field. Let’s get started. Definition: When it comes to Trading Discipline. Trading Discipline means one user has the mental ability ( strength ) to follow their system. Their Trading Plan, risk management and maintain their psychology regardless of what events happen. Trading Discipline separates profitable traders from the gamblers. (Below I have attached the article Trader or Gambler as it relates to this post, make sure to give it a read!) Discipline ensures that the user makes the right decisions based on strategy and logic instead of FOMO, ego and greed. It is not just about following rules though. Discipline relates to the outside world of cultivating habits, mindsets and self-control too. 1) Understanding Trading Discipline Firstly, you must truly grasp what it actually means. Most individual traders confuse it with stubbornness. They think it’s about holding on to trades or forcing a system. In reality, it’s only about consistency and self-control! Simple right? Example: Imagine, you have a system. A trading plan. It has the 1% rule where you don’t risk more than 1% of your account per trade. Understanding discipline means you must know why that rule is in place. It’s too protected your capital! Not breaking it after a few losses just to catch up. Real Life Analogy: A professional runner trains every day. They do it even when they are sad, tired, unhappy and unmotivated. This is discipline. Discipline drives long term results. Discipline is continuing it no matter what the current situation is. 2) Implementing Trading Discipline The process of implementation is nothing complicated. It’s only turning knowledge into action. Knowing about it won’t do anything, you must maintain the effort of consistently applying it to each step in your system. How to implement it: - Follow your plan: Before each trading day starts, read out your system and tell yourself you will follow it. Even if no set ups appear, you will still succeed because you followed your plan. - Set risk rules: Apply proper risk management and lot management so you don’t cave into fear. Apply the 1:3 Rule or 1:4 Rule. - JOURNAL your TRADES Damn it: Record every trade, your reasoning, and whether you actually followed your rules. Don’t just add a screen shot and nothing else. YOU won’t succeed if you don’t journal your trades properly. Example: A novice trader may plan to place an entry when price is at $50 and exit at $55 with a 2% risk per trade. Even if it dips to price $48, they hold to the stop loss accepting the loss instead of moving it and hoping it “recovers” Real Life analogy: Think of it as budgeting every day, or for a holiday, or your next maccas run. You set a weekly budget plan and stick to it. Even when tempted by special deals, sticking to your budget allows for long term financial health to take place. Just like risk management but with real life. 3) Maintaining Trading Discipline Discipline can’t act overnight, it’s the process of small steps working your way up to solid consistency over time. Even when feelings run high – discipline isn’t one time. It’s daily practice. Some strategies are: - Reviewing your previous trades daily or at the end of each week during a market close. Assess your wins and losses. - Build up emotional awareness, be aware of what fear, greed and overconfident emotions take place. - Reward yourself to the rules of your system, not just profitable outcomes. If you reward yourself for not trading in one day because not a single set up appeared, you were still successful because you didn’t “force” a set up and take a gamble. Example: A trader might experience 3 losses in the first hour of the day, even if they were all A++ set ups. Instead of revenge trading, he sticks to his plan, accepts the L and leaves the charts for the rest of the day to reset mentally and gain a win in another field, eg – Gym. Real-life analogy: By maintaining a healthy lifestyle, you must apply the same approach. You don’t stop exercising after a few days off. Discipline keeps you aligned even when your motivation and mental strength fades. 4) Adapting without breaking your Discipline Long story short, Markets move, Markets change, Markets can and WILL evolve. Traders must adapt. Not just allows their system to adapt, but their psychological mindset of discipline. Adapting can be confusing but it can be done by: - Don’t switch up new strategies, adjust your current system slightly then back test and forward test it on demo accounts. Eg Paper trading. - Update your trading system based on data and monthly results, not emotions. - Avoid making sudden changes right after losses. Example: Let’s say a forex strat no longer works due to low volume and volatility. A strict trader tests adjustments in their demo accounts, then incorporates them into the plan after they have received positive data from tests. Real-life analogy: A chef might change his recipe based on a specific ingredient availability but will not ignore the core cooking principles. It’s about adapting strategically, not impulsively. 5) Reinforcing Discipline Through mindset and daily life. Discipline in the trading field is just amplified by the discipline process outside of trading. It follows the exact same process. Daily habits and mindset directly impact one’s trading performance. To reinforce discipline, you can: - Maintain routines: Wake up at consistent times. Don’t wake up at 3:00am to “grind” if you do that, you’re stupid – you’ll burn yourself out and make the process harder. Plan your day and review goals. Eg do a brain dump every morning, write down or type out all ideas, thoughts and emotions and sort it out. - Practice mental training: People suggest doing personal journaling or meditation. Just go for a walk in the morning for 5 minutes. First thing in the morning, feel the fresh breeze, air, sunlight and nature. You simulate the mind and body in a natural way allowing for you to think clearly and train your mind. - Change your environment: surround yourself with work dogs, people who are strict on routines, self-improvement, self-development, individuals who don’t slack off. Example: Traders who can control their time well, exercise, eat healthy can maintain their stress in trading better than one who does not focus on outside habits. Real-life analogy: A school student who studies consistently every day and night rather than squishing it all in before exams perform better. Just like a trader who can maintain structured habits inside and outside of the market. Conclusion: Trading discipline is more than following rules, it’s a mindset and a lifestyle, it relates to the world outside of trading. Just like psychology, if you can’t master it outside, you won’t master it inside. It's about understanding your own weaknesses and adjusting the system to hold structured rules that will allow it to be more easily achievable for yourself. Remember, trading is not sunshine and rainbows. It’s about building a system and following it. It is the hardest way to make “ easy ” money. To find out what the other 2 keys are, review the 3 posts below where I explain the 3 keys to trading success, and go deeper into each of them!
Education
by King_BennyBag
47
Understanding Risk Management in TradingWelcome everyone back to Trading view article by King_BennyBag. In today’s post we will discuss how one can understand risk management in trading, and action it. We will start off by defining what risk management is. Risk management definition: Risk management is the process of identifying your current capital and assessing what you can afford to invest and lose. Never to see again. It involves identifying risks, assuming risks and ensuring you have a planned response for before, during and after a trade. CAPITAL IN RISK MANAGEMENT: In the past, I have stated that the goal of trading is to “PROTECT” your capital first. Once you know how to protect it, you can then multiply it and risk bit by bit. To take on proper risk management, you must decide what amount you will allocate to your investments or trades. For example – you risk only 1% of your capital on every trade. INVEST WHAT YOU CAN AFFORD TO LOSE: You should only do trading with the funds that you can AFFORD to lose, even then you must be cautious and apply the process above to the same capital. Doing this eliminates the emotional pressure factor and avoids decisions that are driven by Fear of Missing Out. (FOMO) Before Trading, set a clear number on what you can lose (NEVER to see again) without it affecting your life. IDENTIFYING RISKS: Relating to my previous posts, you must have a defined trading plan/edge. This plan must allow you to identify market volatility, news events, psychological mistakes, or technical invalidation points. These are risks that must be identified BEFORE trading. Knowing these will allow you to apply the right position size correctly. ASSUMING RISKS: When it comes to assuming risks, (most people don’t factor this in) it means to accept the potential scenario of you losing, before the trade is actioned. Your stop loss (always use a stoploss!) must be defined in a way that will not get yourself liquidated. You must calculate the right position size and learn to accept the outcome of the trade, and the mental effects it has on you. Doing this, the trades & the process becomes mechanical. No longer would it be emotional. If the loss is too big and you take it anyway. You should not be taking that trade as it will encourage revenge trading. PLANNING RESPONSES BEFORE, DURING and AFTER RISKS: With trading & risk management, you must have a pre-defined response for before, during and after trades. Your risks must be set. Before the trade, you should have an entry, SL & TP set. Along with an invalidation level (if price hits a specific point, you DON’T take the trade) and a maximum risk, eg “I’ll risk max $5,000 on this trade” During the trade, you must stick to the plan, don’t adjust your SL, or TP if it’s not part of your strategy. After the trade, if you win, or lose, find out why. Was it a valid trade, did it follow your edge? Or did you take a blind gamble. If you lose, figure out why, if you won, figure out how you could have scaled it upwards. Applying these 3 factors allows the cycle of discipline to develop and grow. It then removes randomized decision making. Risk management is a crucial Key in trading. Without it – you have already lost. I have attached the 3 KEYS to trading success below. Here I go in depth on what an individual must master to be successful in trading.
by King_BennyBag
56
Mastering Trading Psychology; Why Mindset is the toughest skillWelcome all to another post. In this article we will dive into the process of Mastering Trading Psychology. 1) What is Trading Psychology: Trading Psychology, it is your mindset. It is what you think, how you feel, what you need to do, what you want to do. It is a mixture of thoughts, future actions, emotions and past, present or future behaviors that influences your present self in making good, or bad decisions in the market. It can be considered a “strategy” but leans more to a “skill” It’s about what your thought process is when you are under pressure. Everybody, investor, gambler, trader, swing trader, day trader, scalper and holders, bring their own personalities & habits into the trading space. Whether it’s impatience, or patience, fear or greed, confidence or impulsiveness, or discipline. These mental sets determine how frequently you can follow your edge and how well you can manage wins, losses and uncertainty. Trading psychology is the framework of the mind. It works for you or goes against you. Both are under your control to choose from. A strong, stable, clear mind keeps you going. A weak, broken, cluttered mind keeps you falling. Ultimately, to master trading in psychology, you need to master yourself. 2) Pros and Cons of Trading Psychology: Pros: The pros/benefits of Trading Psychology, once it is mastered, is simple. You understand the game. You understand the process. You understand why you lose, why you win, why manipulation takes place and why you trade it. It is a skill that is developed through patience and perseverance along with constant practice. Like every other skill, it demands TIME, ENERGY, and constant Trial and Error of failures, wins, adjustments and so on. It isn’t something that can be taught or learned once, except for those who learn to recognize and leverage their mental strengths & weaknesses can truly master it over time. Cons: Trying to master Trading Psychology means you need to LOSE. You need to experience loss after loss after loss after loss. You need to fail many times. Every time you fail, you understand how to take control of your emotions, you learn where things went wrong, you learn how to build your edge. But it’s not always about losses, it’s about gains (wins )too. You need to maintain a stable status of emotions whether you win or lose. You can’t show anger, you can’t show excitement. Because both will come back at you with another loss. This means you cannot allow yourself to be ruled by any emotion, positive or negative. It can be a long uncomfortable process that can take years to master. Sometimes even decades. What makes it more challenging is that trading psychology does not exist in isolation. Psychology outside of trading must be mastered too. How you think, act, live, every single day. - We will explore this topic further down the article. 3) Why it is important in the trading space: Psychology is an essential topic that must be taught and considered. Because without it, you will not succeed. Without self-control, or a strong mind, trading will become nothing more than just gambling like a slot machine. It's a skill that many overlook. With it, you are aware of what works and what fails. It allows you to step back and re-assess the next trade instead of forcing it. The end goal is to make money, but to even do that you first have to protect your capital. Only take A++ Set ups (High confluence/probability set ups) and avoid any traps involving emotions like: Fear of Missing Out (FOMO) or the “I just need 1 good pump” (One Big Win) Mindset. With it being in the trading space, it gives users the ability to pause, re-assess and question your decisions on the trade you are about to take. It helps to mention, “Is this an A++ Setup?” “Does it align with my strat, my edge, my goals?” If it does not and you decide not to take it, you save yourself a loss of capital and have made a win of improved trading psychology. It assists you in distinguishing the difference between good/bad trades. Not on the result but the process. It keeps you grounded. 4) How to Master Trading Psychology: Just because it is difficult & challenging, does not mean it is impossible. First step – building discipline through consistency and structure. Ensure you have a clear trading plan set up. One that defines your edge or can be adjusted to find your edge. Commit to following it no matter what the market is doing. Pumping, Dumping or consolidating. Consistency in action will build mental strength. Secondly, you must work on emotional control. Understand and be focused on how you feel when you experience fear, greed, or overconfidence. These emotions push you off your plan if you let them take over. Each time this happens, you must log it. That way you can accumulate data and self-awareness. With that, everyone says this. BackTEST or at least forward test you strategies extensively. Keep a detailed journal that has a good list of questions that you must answer after each trade. Be brutally honest with yourself. Don’t hide losses because you have already hit 10 in a row. Log them all down. This way you will then be able to recognize emotional triggers and recurring patterns appearing that are holding you back. Being able to recognise them is the first step to controlling them. OBSERVE YOURSELF. While this takes place, you must begin to build trust in your system (strategy) and in yourself. You will see how your actions and choices line up with your plan. That way your confidence will shift from emotions to process driven. Last one is patience. The hardest yet most critical psychological skills. Take ONLY A++ set ups, for example a set up that has 4 confluences or 5 lining up. Doing this trains your mind into avoiding impulsive behavior or falling into FOMO based environments. To see another deep dive into mastering trading psychology, review the post below to determine which mindset you currently have. Are you a trader? Or are you a gambler. 5) How Psychology in our daily lives affects our ability to trade: Trading Psychology is an interesting concept, but so is psychology in general. The human mind is weak and for it to be strengthened, it takes time & self-awareness. A weak mind won’t get you anywhere. Psychology is not a simple one sentence definition. It can mean many things, or many situations. It is a critical role in our life, it shapes our emotions, reactions and choices. It can lead us to self-sabotage or it can lead us to success. If you cannot control your psychology outside of trading, you won’t be able to control it inside of trading. By this I mean daily emotions. For example: Imagine an individual experiences a breakout, they are sad, they are angry, they are emotionally drained and hurt. Then they go off to trade. They will LOSE. This is because when the mind is in an uncomfortable state, it seeks a dopamine hit, and when they associate a win in trading = dopamine hit, they naturally turn towards trading. They want to feel that dopamine hit, so they can feel good again. But then they are no longer following their edge. This destroys discipline, objectivity and focus. This is not just tied to relationship breakups, but everything in our day to day lives. If you experience a bad day at work, failed an exam, argued with family, or facing a stressful time. If you bring unresolved emotions, thoughts and feelings into the trading space, trading just becomes a big emotional outlet. Psychology appears in every action we do, EVERY day. “I need to drink water” I will get water. I see soda, “I now want soda.” The mind now as switched completely from the main objective “Water” to soda. If you cannot control your mind to stick to what is right, then you will not master trading psychology. The better control you have over yourself, & your mind, the more consistent and rational your trading decisions will become. KEY POINTS: 1) What is Trading Psychology: - Trading psychology is the foundation of every mental action. You must master yourself before mastering the market. 2) Pros & Cons of Trading Psychology: - Trading Psychology cannot be mastered without failure, each loss has a lesson, that lesson is based around strengthening your mind with emotional control. 3) Why it is important in the Trading Space: - Without a strong mind, trading turns into gambling, you must become disciplined and maintain self-control. This splits pros from the gamblers. 4) How to Master Trading Psychology: - Right to the point: Consistency & discipline, emotional awareness, journaling, and most importantly, being patient. These are core aspects of mastering your mindset and obtaining the right psychological discipline. 5) How daily psychology affects trading: - The way you manage your everyday emotions outside of trading mirrors the way you will end up reacting to the markets. Control your life, then control your trades. Psychology is a great skill, but it’s only part of 3 keys that will lead you to success. Find out the 2 other keys below:   Thank you all so much for reading - I hope this post brings a lesson into everyone's trading journey. I am aware that this is a big long article, however Trading psychology goes even deeper - I have summarized my knowledge and research that I have obtained over time and summarized it. Please let me know if any of you would like an a post on a specific topic. I'd love to provide more for the community!
Education
by King_BennyBag
75
Fibonacci Retracement - Quick Guide in 5 StepsTrading the Fibonacci Retracement - Quick Guide in 5 Steps. What is the Fibonacci tool? The Fib Retracement Tool is a tool used widely across many charts. From crypto to stocks. It assists in identifying the Golden Pocket, along with any potential Support and Resistance zones based on the sequence in Fibonacci. Investors & Traders draw it from a previous high/low or low/high. On a chart, each key level shows where price might pause or reverse during a pull back, before it continues the trend. In this guide you will learn how to use the Fibonacci tool in 5 steps. 1. Configurations Open up your Fib Retracement Tool's settings, apply the below configurations. (You can change the color to your choice) 2. Identify High/Low's Identify, recent highs and lows of your current chart/pair. 3. Applying Fib Retracement Select your Fib Retracement tool. Place it on your chart starting from the swing low to the swing high. 4. Once completed Highlight the Golden Pocket Field in the zone (0.65-0.618) 5. Review Entry Price will eventually make it's way back down to the Golden Pocket to retest and reverse. SL Placement would be on a previous low or key level, TP placement would be at a previous high or key level. Bonus: See the real time example below: Please like, comment and follow if this guide was useful to you. If you have any requests on analysis or tutorial requests, let me know and I'll be happy to make one!
FX:NAS100Education
by King_BennyBag
100
How to Set a Stop Loss in Price Action Trading Forex Explained Wrong stop loss is one of the main reasons why newbie traders lose money. I will share with you a proven stop loss strategy for price action trading Forex. I will explain how to identify a safe stop loss level for any chart part, trend line and a breakout that you trade. Learn how to set a safe stop loss easily on any time frame and no matter whether you are day trading, scalping or swing trading. To correctly put a stop loss for trading price action in forex market, first, let's discuss 2 major types of price action patterns that you should know. Trend line based patterns The first type of patterns is called trend line based patterns. In this category, we put all the patterns where trend lines are used as entries or confirmations. Here is the list of these patterns: Rising/falling parallel channels, Rising/falling wedges, Rising/falling expanding wedges/channels. For example, in a rising parallel channel, its support is a strong vertical structure. It provides a safe place to buy the market from. Alternatively, its breakout will provide a strong confirmation to sell. Horizontal neckline based patterns The second type of patterns is called neckline based patterns. In this category, we include all chart patterns that lie on a horizontal neckline. A signal that we rely on to trade these patterns is a breakout of their necklines. Here is the list of these patterns: Double top/bottom, Head and shoulders and inverted one, Ascending/descending triangle, Cup and handle and inverted one. Here is how we set a stop loss in trend line based patterns. If we buy the market from a support line of a wedge or a channel, expecting a growth, we will need to the last bearish movement from the high of the pattern to the point where it touches a support line - our entry. Our safe stop loss will be 1.272 fibonacci extension (from its high to low) of this movement. If we sell the market after a breakout of a support line of a wedge or a channel, we will take the last bearish movement from the high of the pattern to the low of a breakout candle. Our safe stop loss will be 1.272 fibonacci extension (from its low to high) of this movement. Look how it works in practice: If we sell the market from a resistance line of a wedge or a channel, we will take the last bullish movement from the low of the pattern to the point where it touched a resistance line. Our safe stop loss will be 1.272 fibonacii extension (from its low to high) of this movement. Look how it works in practice: Here is a safe stop loss for selling USDJPY forex pair from a resistance of a falling wedge. If we buy a bullish breakout of a resistance line of a wedge or a channel, we will take a bullish movement from the low of the pattern to a high of the breakout candle. Our safe stop loss will be 1.272 fibonacci extension (from its high to its low) of this movement. Here is how easily we can set a stop loss, using this strategy, buying a breakout of a resistance line of a falling channel on NZDUSD forex pair. And here is how we set stop loss for neckline based patterns. If we see a breakout of a neckline of a bearish pattern, and we want to sell, we will need to find a pattern range: a low of the neckline of the pattern and highest high of the pattern. Based on that, we will draw fibonacci extension (from its lows to high). Our safe stop loss will be 1.272 extension. That is how we put a stop loss, using this method on EURUSD, trading head & shoulders. If we buy a breakout of a neckline of a bullish pattern, our safe stop loss will be based on 1.272 extention (from high to low) of the range of the pattern - the highest high of the neckline and the lowest low of the pattern. That is how a safe stop loss for a cup & handle pattern on EURUSD looks. I drew fib.extension from the neckline's high to pattern's low. This simple method will help you to always put a safe stop loss. Integrate that in your trading plan and avoid losses, trading price action. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Education
by VasilyTrader
3
Learn the Significance of Psychological Levels and Round Numbers When traders analyze the key levels, quite often then neglect the psychological levels in trading. In this article, we will discuss what are the psychological levels and how to identify them. What is Psychological Level? Let's start with the definition. Psychological level is a price level on a chart that has a strong significance for the market participants due to the round numbers. By the round numbers, I imply the whole numbers that are multiples of 5, 10, 100, etc. These levels act as strong supports and resistances and the points of interest of the market participants. Take a look at 2 important psychological levels on EURGBP: 0.95 and 0.82. As the market approached these levels, we saw a strong reaction of the price to them. Why Psychological Levels Work? And here is why the psychological levels work: Research in behavioral finance has shown that individuals exhibit a tendency to anchor their judgments and decisions to round numbers. Such a decision-making can be attributed to the cognitive biases. Quite typically, these levels act as reference points for the market participants for setting entry, exit points and placing stop-loss orders. Bad Psychological Levels? However, one should remember that not all price levels based on round numbers are significant. When one is looking for an important psychological level, he should take into consideration the historical price action. Here are the round number based levels that I identified on AUDUSD on a weekly time frame. After all such levels are underlined, check the historical price action and make sure that the market reacted to that at least one time in the recent past. With the circles, I highlighted the recent reaction to the underlined levels. Such ones we will keep on the chart, while others should be removed. Here are the psychological levels and proved their significance with a recent historical price action. From these levels, we will look for trading opportunities. Market Reaction to Psychological Levels Please, note that psychological levels may trigger various reactions of the market participants. For instance, a price approaching a round number may trigger feelings of greed, leading to increased selling pressure as traders seek to lock in profits. Alternatively, a breakout above/below a psychological level can trigger buying/selling activity as traders anticipate further price momentum. For that reason, it is very important to monitor the price action around such levels and look for confirmations. Learn to identify psychological levels. They are very powerful and for you, they can become a source of tremendous profits. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
6
Best Lot Size for Gold Trading (XAUUSD) Explained If you trade Gold with fix lot, I prepared for you a simple manual how to calculate the best lot size for your XAUUSD trading account. Step 1 Find at least the last 10 trades that you took on Gold. Step 2 Measure stop losses of all these trades in pips Step 3 Find the trade with the biggest stop loss In our example, the biggest stop loss is 680 pips Step 4 Open position size calculator for XAUUSD Step 5 Input your account size, 1,5% as the risk ratio. In "stop loss in pips" field, write down the pip value of your biggest stop loss - 680 pips in our example. Press, calculate. For our example, the best lot size for Gold will be 0.22. The idea is that your maximum loss should not exceed 1,5% of your account balance, while the average loss will be around 1%. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
1
Understanding Consolidation & Trading itWhat Consolidation Is Consolidation is a market phase where price moves sideways within a defined range, showing indecision or balance between buyers (bulls) and sellers (bears). Characterized by low volatility, overlapping candles, and no clear trend direction. Often occurs after strong moves (as the market pauses) or before breakouts (accumulation/distribution). Impact on Bulls & Bears Bulls: View consolidation near highs as accumulation (buyers building positions before a breakout upward). Bears: View consolidation near lows as distribution (sellers unloading before a breakdown). Both sides place stop orders outside the range → creating liquidity pools that smart money hunts. How Traders Can Take Advantage Range Trading – Buy near support of the range, sell near resistance, until breakout occurs. Liquidity Strategy – Wait for fakeouts beyond consolidation, then trade in the opposite direction (stop hunt setup). Consolidation Across Timeframes Lower Timeframes (1m–15m): Looks like noise but is often where scalpers range trade. Breakouts can give small but quick moves. Mid Timeframes (1H–4H): Shows clear accumulation/distribution phases. Useful for intraday & swing traders. Higher Timeframes (Daily–Weekly): Represents major market indecision. Breakouts from these zones often fuel massive trend moves. ✅ Summary: Consolidation = sideways range = balance of bulls & bears. Inside range → fade the extremes. Outside range → trade support & resistance or liquidity sweep. On different timeframes → the same consolidation can be noise on 5M, but a critical accumulation on the Daily chart.
FX:NAS100Education
by King_BennyBag
64
5 Elements of the Best Key Level in Forex, Gold Trading What are the best key levels to trade? This year I analyzed more than 1500 key structures on Forex, Gold, Crypto and Indexes. In the today's article, I prepared for you a list of 5 elements of a perfect support and resistance for trading. As always, remember that the best key levels are always on a daily time frame . So all the structures that we will discuss will be strictly on a daily . Also, all the structures that I analyzed and traded are available on my TradingView page, so you can back test them by your own. 1. Clear historical significance The structure that you spotted should act as a significant historical support or resistance. Here are the important historical support and resistance that I spotted on USDCAD on a daily time frame. 2. Psychological significance The structure that you identified should match with round numbers. All the structures that we spotted on USDCAD match with psychological numbers. 3. Confluence with other technical tools The best structure should align with other trading tools such as trend lines or Fibonacci levels , strengthening its significance. After adding fibonacci levels and a significant falling trend line on the chart, the confluence was found in Resistance 6, Resistance 3, Resistance 2, Resistance 1, Support 2. Other structure does not match with technical tolls. 4. Volume The level experiences high trading volumes, indicating strong participation and interest from market participants, especially smart money. All the structures that we underlined show significant volume spikes. By volume spike, I mean a volume being higher than the average volume - a blue curve on volume. 5. Multiple touches The more, the better. There are numerous instances where price has respected and reacted to the structure, confirming its strength (at least 2). Only these 3 structures were confirmed by the multiple touches. These resistances will be considered the strongest ones. That checklist will help you to identify the most significant structures from where you will be able to catch impulsive movement and make nice profits. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
6
Best Price Action Chart Patterns by Accuracy Last Year Last year I shared more than 1300 free signals and forecasts for Gold, Forex, Commodities and Indexes. In my predictions, quite often I relied on classic price action patterns. In this article, I will reveal the win rate of each pattern, the most accurate and the least accurate formations of last year. Please, note that all the predictions and forecasts that I shared last year are available on TradingView and you can back test any of the setup that I identified last year by your own. Just choose a relevant tag on my TradingView page. Also, some of the forecasts & signals were based on a combination of multiple patterns. Here is the list of the patterns that I personally trade: 🔘 Double Top or Bottom with Equal Highs The pattern is considered to be valid when the highs or lows of the pattern are equal. The pattern gives a bearish/bullish signal when its neckline is broken. 🔘 Double Top or Bottom with Lower High/Higher Low or Cup & Handle The pattern is considered to be valid when the second top/bottom of the patterns is lower/higher than the first one. The pattern gives a bearish/bullish signal when its neckline is broken. 🔘 Head & Shoulders and Inverted Head and Shoulders The pattern gives a bearish/bullish signal when its neckline is broken. 🔘 Horizontal Range The pattern is the extension of a classic double top/bottom with at least 3 equal highs/lows. The pattern gives a bearish/bullish signal when its neckline is broken. 🔘 Bullish/Bearish Flag The pattern represents a rising/falling parallel channel. It gives a bullish/bearish signal when its upper/lower boundary is broken. 🔘 Rising/Falling Wedge Pattern The pattern represents a contracting rising/falling channel. It gives a bullish/bearish signal when its upper/lower boundary is broken. 🔘 Rising/Falling Expanding Wedge The pattern represents an expanding rising/falling channel. It gives a bullish/bearish signal when its upper/lower boundary is broken. 🔘 Descending/Ascending Triangle The pattern is the extension of a cup & handle pattern with at least 2 lower highs/lows. The pattern gives a bearish/bullish signal when its neckline is broken. Please, also note that all the patterns that I identified and traded were formed on key horizontal or vertical structures. Remember that the accuracy of any pattern drops dramatically if it is formed beyond key levels. I consider the pattern to be a winning one if after a neckline breakout, it managed to reach the closest horizontal or vertical structure, not invalidating the pattern's highs/lows. For example, if the price violated the high of the cup and handle pattern after its neckline breakout, such a pattern is losing one. If it reached the closest structure without violation of the high, it is a winning pattern. 🔍 Double Top or Bottom with Equal Highs I spotted 85 setups featuring these patterns. Their accuracy is 62% . 🥉 Double Top or Bottom with Lower High/Higher Low or Cup & Handle 96 setups were spotted. The performance turned out to be a little bit higher than a classic double top/bottom with 65% of the setups hitting the target. 🔍 Head & Shoulders and Inverted Head and Shoulders 58 formations spotted last year. Average win rate is 64% 🏆 Horizontal Range The most accurate pattern of last year. More than 148 patterns were spotted and 74% among them gave accurate signal. 🔍 Bullish/Bearish Flag 38 setups identified last year. The accuracy of the pattern is 57% Rising/Falling Wedge The pattern turned out to be a little bit more accurate. Among 62 formations, 59% end up being profitable. 👎 Rising/Falling Expanding Wedge The worst pattern of last year. I recognized 24 patterns and their accuracy was just 51%. 🥈 Descending/Ascending Triangle 64 patterns were identified. The win rate of the pattern is 66%. The most important conclusion that we can make analyzing the performance of these patterns is that they all have an accuracy above 50%. If you properly combine these patterns with some other technical or fundamental tools, the accuracy of the setup will increase dramatically. Good luck in your trading! ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
9
Best Trading Confirmation. Learn 95% Accurate Entry Signal I have analyzed 1300 forecasts and signals that I shared on TradingView last year and found 95% accurate trading confirmation. In this article, we will discuss multiple types of confirmations and their winning rate on Forex, Gold, Indexes, Crypto & Commodities. First, let me introduce you to the types of analysis that I provided. 1 - Structure based forecast I have shared more than 55 trading setup with key levels analysis: Where the price is approaching a key daily horizontal support and resistance. Here is the example of such a post. Test of a key horizontal or vertical support/resistance turned out to be a poor trading signal. Total accuracy of structure based forecasts is 38%. Please, note that if we consider the market trend in our calculations, the trend-following structure based setup will be 42% accurate, while a performance of a counter trend setup drops to 35% 2 - Structure breakout based forecast I analyzed and posted 73 posts with a key structure breakout as a confirmation on a daily. Above is the example of a such a forecast. Key levels breakout turned out to be a strong bullish or bearish confirmation with 59% accuracy. Trend direction did not affect the efficiency of a key structure breakout that much, with a 60% accuracy of a trend following setup versus 57% of counter trend. 3 - Structure based forecast with a single intraday confirmation I shared more than 500 setups with a test of a key structure on a daily and a single price action based bullish or bearish confirmation on a 4h/1h time frame. My intraday confirmation is a formation of a price action pattern with a consequent breakout of its neckline/trend line in the projected direction. Please, check the example of such a signal. Just a single intraday confirmation dramatically increases the accuracy of a structure based setup. Average winning rate is 66%. 4 - Structure based forecast with multiple intraday confirmations I spotted and posted 200+ forecasts with a test of a key structure on a daily and multiple price action based bullish or bearish confirmations on a 4h/1h time frame. Multiple confirmations imply the formation of multiple price action patterns on 4/1h t.f. Here is the example of such a setup on EURGBP. Two or more confirmations on a key structure increase the average winning rate to 72%. Among multiple confirmations, I found a 95% accurate bearish signal: The market should be in a bearish trend. The price should test a key daily structure resistance. The market should form a rising wedge pattern on a 4h/1h time frames and the highs of the wedge should strictly test the key structure and should not violate them. After a test of structure, the price should form a bearish price action pattern on the highs of the wedge. Above is a setup with the best trading confirmation. A bearish breakout of the neckline of the pattern and a support of the wedge was a 95% accurate trading signal last year. Of course, there are various confirmations, depending on a trading style. The ones that I shared with you are structure/price action based. And I am truly impressed by their accuracy. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Education
by VasilyTrader
23
6 Best Tips for Small Trading Accounts (Forex, Gold) This useful trading tips will help you to efficiently start trading with a small trading account. A quick note: by a small account, I mean an account size from 10$ - 2000$. 1 - Trade less often Small account implies a limited amount of money for trading. It means that among dozens of trading opportunities that you spot during a trading day, you should carefully pick only the most promising ones. I recommend opening maximum 3 trades per day. 2 - Stick to one strategy One of the ways to trade less frequently is to stick to one single trading strategy. Most of the traders do completely opposite: instead of focusing on one approach, they prefer to trade multiple ones simultaneously. Trading various strategies requires a lot of capital. The more strategies you follow, the more margin is needed. With a small trading account, you are risking being left without a free margin for all the trading opportunities that the strategies provide. 3 - Trade liquid instruments with low spreads When you are picking the financial instruments for your trading, make sure that you select the most liquid ones. You can assess the liquidity of the instrument by a spread. The bigger is the spread, the less liquid is the asset. Take a look at a spread difference between EURUSD and CHFJPY. The spread on EURUSD is 0.1 pip. While the spread on CHFJPY is 2.7 pips. Spreads directly affect the costs of trading. Bigger spreads reduce the potential profits and increase the risks. Make sure that you choose the assets with the lowest spreads possible. 4 - Shorten the list of trading instruments One more option to trade less often is to narrow down the list of your trading instruments. I recommend choosing the maximum of 7 instruments. 7 USD Major Forex Pairs: EURUSD, GBPUSD, USDJPY, USDCAD NZDUSD AUDUSD USDCHF is a perfect watch list for a small account trader. 5 - Don't trade higher time frames Be careful when deciding a time frame to trade. Remember that the higher is the time frame, the bigger are the stop losses for your traders. On the left chart is the swing trade that I took with my students on EURUSD chart on a daily. While on the right is the scalping trade taken on 30 minutes time frame. A stop loss for swing trade is 90 pips and a stop loss of scalping position is 19 pips. Big stop losses require more free margin and limit the amount of the trades that you can take simultaneously. For that reason, prioritize lower time frame trading with a small trading account. 6 - Don't risk more than 2% per trade When traders trade with a small trading account, they often risk a huge portion of their trading account per a single trade. If you have 100$ trading account, and you risk 20$ per trade, the nominal value of that risk does not look huge. But from a percentage standpoint, it is 20% of the total balance. Just a 5 trades losing streak will blow such an account. Make sure that you apply a position size calculator and risk no more than 2% of your account per trade. Following these recommendations, you will be able to build an effective trading plan that will help you to grow your capital quickly. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
13
Trade The Trend – Quick Guide In 5 StepsWhat is Trading the Trend? Trading the trend means buying when the market is going up, and selling when it’s going down. You're following the direction of the market, not fighting it. If the trend is up: Price makes higher highs and higher lows You look for chances to buy (go long) If the trend is down: Price makes lower highs and lower lows You look for chances to sell (go short) Why it works: You’re going with momentum Simple rule: Buy in an uptrend, sell in a downtrend — never trade against the flow 1. Assess the chart. Where is it headed? It's headed up. 2. Place your trend line by connecting the first two points. 3. Let the chart play out for a bit. Afterwards prepare your entry on previous failed trend line retest. Set your stop loss below the previous trend line retest, and your TP just before the previous sweep above. 4. Proceed to let the chart play out, then set your pending order. 5. Watch the Trade enter and play out with patience. This method works for bearish trends as well, just reversed. If you would like to see more 5 step guides, comment down below. Thank you!
Education
by King_BennyBag
16
Support & Resistance – Quick Guide In 5 StepsSupport and resistance are key concepts in technical analysis that help traders identify where price is likely to react. Support acts like a floor — a level where buying interest is strong enough to prevent further declines. Resistance acts like a ceiling — a level where selling pressure can stop price from rising. These zones often lead to bounces, reversals, or breakouts, and are used to plan entries, exits, and stop-losses. How to Identify them: 1. Assess the chart. 2. Identify Swing Points: Look for repeated highs/lows and label them. (Flags) 3. Multiple touches: Highlight the zones with multiple touches. 2+ Touches are stronger. 4. Define: Clearly define the zones. Above is resistance, below is support. 5. Entry: When price makes it way down to support, wait for the reversal. Upon reversal enter on the low time confirmation. Ensure price has failed to break below the support. Then set TP to the previous High/Resistance zone. Tips: Always treat S&R as zones, not exact lines. Combine with trend, candlestick patterns, or volume for better confluences. Avoid trading into strong S/R — wait for breaks or retests.
Education
by King_BennyBag
35
Learn 2 Essential Elements of Forex Gold Trading In the today's post, we will discuss how Forex Gold trading is structured, and I will share with you its 2 key milestones. Trading with its nuances and complexities can be explained as the interconnections of two processes: trading rules creation and trading rules following. 1️⃣ With the trading rules, you define what you will trade and how exactly, classifying your entry and exist conditions, risk and trade management rules. Such a set of consistent trading rules compose a trading strategy. For example, you can have a following trading plan: you trade only gold, you analyze the market with technical analysis, you buy from a key support and sell from a key resistance on a daily, your entry confirmation is a formation of a reversal candlestick pattern. You set stop loss above the high/low of the pattern, and your target is the closest support/resistance level. Here is how the trading setup would look like. In the charts above, all the conditions for the trade are met, and the market nicely reached the take profit. 2️⃣ Trading strategy development is a very simple process. You can find hundreds of different ones on the internet and start using one immediately. The main obstacle comes, however, with Following Trading Rules. Following the rules is our second key milestone. It defines your ability to stay disciplined and to stick to your trading plan. It implies the control of emotions, patience and avoidance of rationalization. Once you open a trade, following your rules, challenges are just beginning. Imagine how happy you would feel yourself, seeing how nicely gold is moving to your target after position opening. And how your mood would change, once the price quickly returns to your entry. Watching how your profits evaporate and how the initially winning position turns into a losing one, emotions will constantly intervene. In such situations, many traders break their rules , they start adjusting tp or stop loss or just close the trading, not being able to keep holding. The ability to follow your system is a very hard skill to acquire. It requires many years of practicing. So if you believe that a good trading strategy is what you need to make money, please, realize the fact that even the best trading strategy in the world will lose without consistency and discipline. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
7
Learn the 3 TYPES of MARKET ANALYSIS in Gold Forex Trading In the today's post, we will discuss 3 types of analysis of a financial market. 🛠1 - Technical Analysis Technical analysis focuses on p rice action, key levels, technical indicators and technical tools for the assessment of a market sentiment. Pure technician thoroughly believes that the price chart reflects all the news, all the actions of big and small players. With a proper application of technical strategies, technical analysts make predictions and identify trading opportunities. In the example above, the trader applies price action patterns, candlestick analysis, key levels and 2 technical indicators to make a prediction that the market will drop to a key horizontal support from a solid horizontal resistance. 📰2 - Fundamental Analysis Fundamental analysts assess the key factors and related data that drive the value of an asset. These factors are diverse: it can be geopolitical events, macro and micro economic news, financial statements, etc. Fundamental traders usually make trading decision and forecasts, relying on fundamental data alone and completely neglecting a chart analysis. Price action on Gold on a daily time frame could be easily predicted, applying a fundamental analysis. A bearish trend was driven by FED Interest Rates tightening program, while a strong bullish rally initiated after escalation of Israeli-Palestinian conflict. 📊🔬 3 - Combination of Technical and Fundamental Analysis Such traders combine the principles of both Technical and Fundamental approaches. When they are looking for trading opportunities, they analyze the price chart and make predictions accordingly. Then, they analyze the current related fundamentals and compare the technical and fundamental biases. If the outlooks match , one opens a trading position. In the example above, Gold reached a solid horizontal daily support. Testing the underlined structure, the price formed a falling wedge pattern and a double bottom, breaking both a horizontal neckline and a resistance of the wedge. These were 2 significant bullish technical confirmation. At the same time, the escalation of Israeli-Palestinian conflict left a very bullish fundamental confirmation. It is an endless debate which method is better. Each has its own pros and cons. I strongly believe that one can make money mastering any of those. Just choose the method that you prefer, study it, practice and one day you will make it. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
2