A symmetrical triangle is a consolidation price pattern. It indicates indecision of the market. When prices move into a narrower price range, making lower highs and higher lows, therefore forming a triangle, that is a symmetrical triangle pattern. The characteristics are the following: The pattern is a continuation indicator, usually resuming the trend set before … Read more
Backtesting is an essential procedure that Forex traders utilize to determine how well a strategy might have performed when it went through different variables in history. To test methods for their profitability, drawdown, and sustainability, traders emulate trades on historical data. This tutorial will illustrate, using five simple steps, how to create a Forex backtest … Read more
With thousands of indicators available to trade today, it’s easy to get overwhelmed. Sort-through difficulties arise in choosing which ones to utilize when an effective one can be found and is easy to apply. Of course, in this sea of options, the simple moving average really catches the eye of the user, because a lot … Read more
Do you feel that your Forex Expert Advisor (EA) is not living up to its potential? Whether you are an experienced EA trader or a newcomer just experimenting with automation, you may have faced some of the challenges identified below: poor performance, erratic results, or frustration at the lack of insight into how to get … Read more
Profitability can be the only goal of any Forex trader, but making a consistent profit using the Expert Advisor is something more difficult. Most people cannot really optimize their EAs due to either slow execution speed, unaccounted drawdowns, or the absence of proper strategic diversity. Considering that trading Forex is arguably one of the most … Read more
This week, the whole world will be glued to attention in the US, not just because of inflation data releases that will determine market sentiments but also due to other macroeconomic data releases. For example, this week, the UK is set to release growth figures in the economy, and all these put some volatility on … Read more
It can be overwhelming for a beginner to engage in trading, especially given that there are hundreds of potential markets with which to do so. From Forex to commodities, indices, stocks, and cryptocurrencies, too many options exist out there, thereby complicating one’s focus. Setting up an effective market watch list is, however, among the most … Read more
The global economy is dynamic; financial markets offer a million opportunities to the one ready to plunge into them. But for a neophyte, it gets tough to tread through financial markets, especially the Forex market. Turning over more than $5 trillion daily, Forex trading offers quite a number of opportunities for profits, though the apparent … Read more
Forex trading is a highly challenging matter because the market is volatile, facing false breakouts most of the time. Most traders, especially the new ones, always seem to get trapped in entering their positions from the first breakouts apart from seeing their stop-losses hit accounts. This is a real-world observation-based strategy, backed by both practical … Read more
Many traders—new or experienced—find it difficult to time their entry point in Forex. This may be too late, resulting in smaller targets with larger stop losses, or even worse, a side-way market movement eating up your profits. Often perfect analysis goes to waste because of wrong entry points, and what follows is unnecessary losses. This … Read more
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