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HOW TO SET STOP LOSS | 3 STRATEGIES EXPLAINED 📚 Hey traders, In this post, we will discuss 3 classic trading strategies and stop placement rules. 1️⃣The first trading strategy is a trend line strategy. The technique implies buying/selling the touch of strong trend lines, expecting a strong bullish/bearish reaction from that. If you are buying a trend line, you should identify the previous low. Your stop loss should lie strictly below that. If you are selling a trend line, you should identify the previous high. Your stop loss should lie strictly above that. 2️⃣The second trading strategy is a breakout trading strategy. The technique implies buying/selling the breakout of a structure, expecting a further bullish/bearish continuation. If you are buying a breakout of a resistance, you should identify the previous low. Your stop loss should lie strictly below that. If you are selling a breakout of a support, you should identify the previous high. Your stop loss should lie strictly above that. 3️⃣The third trading strategy is a range trading strategy. The technique implies buying/selling the boundaries of horizontal ranges, expecting bullish/bearish reaction from them. If you are buying the support of the range, your stop loss should strictly lie below the lowest point of support. If you are selling the resistance of the range, your stop loss should strictly lie above the highest point of resistance. As you can see, these stop placement techniques are very simple. Following them, you will avoid a lot of stop hunts and manipulations. How do you set stop loss? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
86
XAU/USD * Gold Next Possible MovementXAU / USD ( Gold / U.S Dollar ) Technical Analysis Chart Update Time Frame - H2 According to Pattern in Long Time Frame #LTF it is Following Falling Wedge and Completed its Retest In Short Time Frame #STF it is Following Bearish Trend Line very Strongly so its possible that it can Go till Upper Trend Line #UTL and if it breaks abd retest then its Again buy It is Currently at Demand Zone and Rejecting from Fibonacci Level - 38.20% It has Completed its Impulsion and it making its " C " corrective way in Long Time Frame #LTF - Daily In Long Time Frame #LTF we have Buying Divergence #RSI as well
OANDA:XAUUSD
by ForexDetective
LEARN HARMONIC PATTERNS TRADING | ABCD PATTERN 🔰 Hey traders, Harmonic ABCD pattern is a classic reversal pattern. This pattern is composed of 3 main elements (based on wicks of the candles): 1️⃣ AB leg 2️⃣ BC leg 3️⃣ CD leg The pattern is considered to be bullish if AB leg is bearish. The pattern is considered to be bearish if AB leg is bullish. AB leg must be a strong movement without corrections within. A is its initial point and B is its completion point. BC leg is a correctional movement from B point after a completion of AB leg. The price may fluctuate within that. B is its initial point and C is its completion point. CD leg must be a strong movement without corrections within. C is its initial point and D is its completion point. ❗️ABCD movement is harmonic if the length and the time horizon of AB and CD legs are equal. By the length, I mean a price change from A to B point and from C to D point. By the time, I mean a time ranges of AB leg and CD leg. If the time and length of AB and CD legs are equal, the pattern is considered to be harmonic, and a reversal will be expected from D point at least to B point. 🛑If the pattern is bullish, stop loss must be placed below D point. 🛑If the pattern is bearish, stop loss is placed above D point. Initial target level is B point. Usually, after reaching a B point the market returns to a global trend. What pattern do you want to learn in the next post? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
10
Ethereum Classic forecast and signalLearn and Earn! After breaking the price of 42 USDT and confirming the break. Confirmation of the break of resistance or support in this 1-H chart; that is, the bar (or candle) closed at the top of the resistance or support price, as well as the next candle, growing at least around 5 pip ( in forex usually call it pips ) or units ( 5 pips in cryptocurrency is around: 0.10%) more than the maximum price of the last closed candle. --------------------------------------------------------- Please pay attention! First: Trades have a time term , and in this case, it's from now until the next 24 hours. (You can also see it in the diagram) Second: You can see the entry price in the chart. So for this one, the trade is activated when the price reaches and crosses $42 (USDT) Before the price crosses the mentioned place, the trade position is not active. --------------------------------------------------------- Please write any advice or suggestions. Dear friends, request any cryptocurrency pair, currencies pair for forex, and any index that you want to be analyzed and ask any questions. Thanks for your attention
by Arknex
What is Spread in Trading | Trading Basics 📚 Hey traders, It turned out that many newbie traders completely neglect spreads in their trading. In this post, we will discuss what is the market spread and how it can occasionally spoil a seemingly good trade. 💱No matter what financial instrument we trade, in order to buy the asset we need to have a counterpart that is willing to sell it to us and vice versa, if we want to sell the asset, we need to have someone to sell it to. The market provides a convenient exchange between buyers and sellers. The asset price is determined by a current supply and demand. However, even the most liquid markets have two prices: bid and ask. 🙋‍♂️Ask price represents the lowest price the market participants are willing to sell the asset to you, while 🙇‍♂️bid price shows the highest price the market participants are willing to buy the asset from you. Bid and ask price are almost never equal. The difference between them is called the spread. 📈The spread size depends on liquidity of the market. 📍Higher liquidity implies bigger trading volumes and greater number of market participants, making it easier for them to make an exchange. On such markets we see lower spreads. 📍From the other side, less liquid markets are categorized with low trading volumes, making it harder for the market participants to find a counterpart for the exchange. On such market, spreads are usually high. For example, current EURUSD price is 1.0249 / 1.0269. Bid price is 1.0249 - you open short position on that price. Ask price is 1.0269 - you open long position on that price. The spread is 2 pips. ❗️Spreads must always be considered in a calculation of a risk to reward ratio for the trade. For scalpers and day traders, higher than usual spread may spoil a seemingly good trade. Always check spreads before you open the trade. In 2020, for example, we saw unusually high spreads on Gold during UK/NY trading sessions. Spreads were so high that I did not manage to open a trade for a couple of days. Not considering spreads in such a situation would cost you a lot of money. Do you consider spread when you trade?🤓 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Education
by VasilyTrader
3
Is mindset holding you back 🤔Trading can be a rollercoaster of emotions. Many traders are unaware of when their state of mind leads to underperforming trades and why it happens. We are all different and unique when it comes to trading, and understanding the type of trader you are is essential to your success. Traders can spend a lot of time studying technical indicators and strategies, but understanding the psychology driving your trading decisions is just as important. The first starting point of getting on the right path in regards to trading psychology and emotions is by having the right one of two mindset choices. There's two mindsets which will effect your trading results and progress massively. They are 'Growth mindset' and 'Fixed mindset' Of those two mindsets there is only a place for one when it comes to trading and that is 'GROWTH MINDSET' The graphic on chart shows the difference between the two mindsets. If you can't ditch the 'Fixed mindset ' you will never be able to progress in trading. No matter how great of a trader you think you are, or how well you think you handle your emotions. It's impossible to remove them from the equation completely when trading. When emotions are combined with a 'Fixed mindset' mentality however you are going to feel emotional pain and loss of money when it comes to your trading. Once you have learned to recognise your mindset, you can then begin the next important step of switching to the ' Growth mindset ' People with a ' Fixed mindset ' believe they are born with a certain amount of intelligence and that it is fixed for the rest of their lives. People with a 'Growth mindset ' however know that intelligence is not fixed and that you can in effect grow your brain. They see their traits as just a starting point and know that these can be developed by hard work, effort, dedication and challenge. Having a growth mindset can improve your progress and attainment and this is crucial in being successful as a trader. The brain can be developed like a muscle, changing and growing stronger the more it is used. Your abilities are also very much like muscles they need training in order to perform at their peak. You can learn how to do anything you want to do and you can get better at whatever that is with time and consistent practice. Even if you have what you perceive to be a talent or ability for something, if you never practice that talent or ability you simply will never improve. Applying this theory to your trading game will help you grow not just your accounts but as a person also. Get that 'Growth mindset' and start believing in your ability to change. Thanks for looking. Darren 🙌
Education
by pow_removetheguesswork
3
THE MOST IMPORTANT FOREX FUNDAMENTALS 📰 Hey traders, Even though I am a pure technician and I rely only on technical analysis when I trade, we can not deny the fact that fundamentals are the main driver of the financial markets. In this post, we will discuss the most important fundamentals that affect forex market. 📍Unemployment rate. Unemployment rate reflects the percentage of people without a job in a selected country or region. Rising unemployment rate usually signifies an unhealthy state of the economy and negatively affects the currency strength. 📍Housing prices. Housing prices reflect people's demand for housing. Rising rate reflects a healthy state of the economy, strengthening purchasing power of the individuals and their confidence in the future. Growing demand for housing is considered to be one of the most important drivers in the economy. 📍Inflation. Inflation reflects the purchasing power of a currency. It is usually measured by evaluation of the price of the selected basket of goods or services over some period. High inflation is usually the primary indicator of the weakness of the currency and the unhealthy state of the economy. 📍Monetary policy. Monetary policy is the actions of central banks related to money supply in the economy. There are two main levers: interests rates and bank reserve requirements. Higher interest rates suppress the economy, making the currency stronger. Lower interests rates increase the money supply, making the economy grow but devaluing the national currency. 📍Political discourse. Political discourse is the social, economical and geopolitical policies of the national government. Political ideology determines the set of priorities for the ruling party that directly impacts the state of the economy. 📍Payrolls and earnings. Payroll reports reflect the dynamic of the creation of new jobs by the economy, while average earnings show the increase or decrease of the earnings of the individuals. Growing earnings and payrolls positively affect the value of a national currency and signify the expansion of the economy. Pay closes attention to these fundamentals and monitor how the market reacts to that data. What fundamentals do you consider to be the most important? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Education
by VasilyTrader
5
Trading Sessions in Forex | Trading Basics 🕰🌎 Hey traders, In this post, we will discuss trading sessions in Forex. Let's start with the definition: Trading session is daytime trading hours in a certain location. The opening and closing hours match with business hours. For that reason, trading hours are varying in different countries because of contrasting timezones. ❗️Please, note that different markets may have different trading hours. Also, some markets have pre-market and after-hours trading sessions. In this post, we are discussing only forex trading hours. The forex market opens on Sunday at 21:00 GMT and closes on Friday at 21:00 pm GMT. There are 4 main trading sessions in Forex: 🇦🇺 Australian (Sydney) Session Opens at 21:00 GMT and closes at 06:00 GMT 🇯🇵 Asian (Tokyo) Session Opens at 12:00 GMT and closes at 9:00 GMT. 🇬🇧 UK (London) Session Opens at 7:00 GMT and closes at 16:00 GMT. 🇺🇸 US (New York) Session Opens at 12:00 GMT and closes at 21:00 GMT. Asian trading session is usually categorized by low trading volumes while UK and US sessions are categorized by high trading volumes. Personally, I trade the entire UK session and US opening and usually skip Australian and Asian sessions. What trading sessions do you trade? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Education
by VasilyTrader
2
Types of Orders In Trading | Trading Basics 🤝💱 Hey traders, In this post, we will discuss types of orders that we use in Forex trading. ➖ Market order. Trading position is opened at a current price level. Buying the asset, you will open a trading position at a current ask price. Selling the asset, you will open a trading position at a current bid price. Even though market order is the most preferable type of orders among newbie traders, I highly recommend not to use that, especially if you are a day trader. ❗️The main problem is that prices constantly fluctuate and there is a certain delay between order execution and position opening. For these reasons, the position will be opened from a random price level within the range where the market is currently staying, affecting a risk to reward ratio. ➖ Limit order. Trading position will be opened only from a desired price level. With buy limit, you will buy the asset from a certain level. (current price remains above the order) With buy stop order, you will buy the asset from a certain level. (current price remains below the order) With sell limit, you will sell the asset from a certain level. (current price remains below the order) With sell stop, you will sell the asset from a certain level. (current price remains above the order) That is the order type that I prefer. Limit order helps you to trade from a desirable level, automatically executing the order once it is reached, letting you preliminary set it. ❗️However, remember that there is one big disadvantage of that order type: there is no guarantee that the price will reach the desired price level to activate a trading position. For that reason, occasionally you will miss the trades. Try these order types on a demo account to learn how they work in practice. Which order type do you prefer? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
9
What is Forex and How Big It Is?💱 Forex - foreign exchange market, is a location where international currencies are bought and sold by economic participants at various exchange rates. Forex market is the biggest market in the world, reaching on average 6 trillion dollars trading volumes daily. Forex market is a vital element for a global economy because it provides capital exchanges between the countries. The main market participants of forex market are central banks, commercial banks, commercial companies, hedge funds and investors. 🕰In order to grasp how big is that market, take a look what is happening on that just in 60 seconds: 📎Total transactions value reaches 3.52 billion US dollars. 📎 1.15 billion dollars of spot transactions. 📎 1.65 billion dollar of exchange swaps. 📎 Total transactions value involving USD reaches 3 billion US dollars. 📎 Total transactions value involving EURO reaches 1.1 billion US dollars. 📎 Just one single EUR/USD pair accumulates 812 million US dollars transactions value. It is hard to imagine how such big amounts are rolling with such a frequency and how insignificant are the orders of individual traders. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
6