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Forex on candlesticks

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Forex candlesticks are perhaps the most valuable technical analysis tool a trader can have in their toolkit. Candlestick tables have been a staple of art and technical analysis skills since the 18th century, when Japanese rice traders invented them in an effort to uncover repetitive price patterns to predict future price movements. Similarly, the forex candle has become the basis of technical analysis for forex currency traders since forex trading first became widely popular. In essence, candlesticks reflect the overall thinking process of all investors in the foreign exchange market over a given period of time, which is a candlestick, so they create visual signals about investors ’beliefs, and it is these beliefs that drive the Forex market.
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The greater appeal of candlestick forex charts compared to simple charts in the form of lines and lines is that they represent the same data but with a dramatically dynamic visual interpretation. In essence, forex candle charts are much easier and clearer to see changes in the mood of the trader and investor, this makes the candlestick chart the most effective and profitable form of chart reading. The chart of forex candles shows the price action that occurred as a result of the reaction of market participants to economic variables.
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Forex candle samples give traders a definite and effective market trading strategy. The main reason for this is that candlestick charts give an accurate and easy-to-use reflection of the power of price action. The way forex trading candle models is a “body” that shows the distance between the open and closed time periods that the bar represents. The body of a forex candlestick is usually either black, or white, or two other opposite colors. This easy-to-interpret visual effect gives an instant idea of ​​who won the daily battle on forex; bulls or bears. When using simple bar charts or line charts that do not contain the same contrast of price movements, it is much more difficult to interpret the effect of forex prices.

Any forex trader who is looking for an effective but easy to understand and implement trading strategy can make extensive use of candle trading. By simply learning and then mastering a few basic candlestick settings, traders can develop their own profitable foreign exchange trading system that will allow them to trade with clarity and conviction. A simple plain chart of vanilla forex candlesticks can become your main technical analysis tool; Trading in this simple way will allow you to think clearly and calmly and it will have a positive impact on your trading. Many traders ignore the simplistic power that forex candlestick charts contain, and continue to add many indicators to their charts, which only complicates their trading and confuses their minds. Do not become one of the masses of novice forex traders who fall into the myth of lagging behind, cultivate your own confidence in trading by learning to use forex candles to trade in the foreign exchange market.

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Featured

Renko Brick Forex Trading Strategy by Review Jide Ojo – A Reliable Mechanical System!

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Most forex traders are familiar with candles. Candlestick tables were invented by Japanese rice traders in the 16th century. Over the centuries, these cards have been perfected into an art form. But what about another Japanese invention, Renko’s hit parade?
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Yes, Renko Charts is another Japanese creation that is widely used in foreign exchange trading yet, and many forex traders have never heard of these charts. These charts are based on price, not time. On a regular candlestick chart or histogram after a fixed time interval you will find a new candlestick or strip, but not on a Rank chart.
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Renko’s charts show new bricks only when the market moves with a fixed increase. By the way, Renko is a Japanese word for brick. Now this brick can consist of any price increase, such as 1 pips, 5 pips, 10 pips and even more. However, it is always good that the size of the brick is small. This may take a few minutes, may take several hours, and may take several days for a new brick to form. Be that as it may, these Renko charts are considered ideal in identifying changes in micro sentiment in the market.
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Renko Brick Forex Trading Strategy is a completely reliable mechanical foreign exchange trading strategy that can be easily mastered. Jide Ojo shows how to master Renko charts and how to use this Renko Brick forex trading strategy.
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It only takes a few minutes each day to check your trading settings. This is a completely price-oriented strategy that uses no metrics. With this strategy you will become a FREE indicator. Jid Ojo will show you how to build Rank charts, and from there he will show you a simple forex strategy that will most of the time put you on the right side of the market.
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It only takes a few minutes to check your trading settings. If you find a setting with a high probability of trading, place pending orders and all. You’re done. You can try Renko Brick Forex Trading Strategy by Jide Ojo Risk FREE for 60 days on your demo account.
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Jide Ojo does not give you any questions covered by the 60-day money back guarantee. This is a simple renko trading strategy that you must first train and master on your demo account. Once you start getting consistent winners on your demo account, test this strategy on a micro account for a week or two. After that, start trading live with it. Good luck!
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Featured

Fundamental analysis versus technical analysis

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Investing in success, making money on stocks and accumulating wealth is everyone’s main goal. To achieve this ultimate goal of retirement you need an investment strategy that will make your money work for you and at the same time avoid excessive risks, failures and losses. Technical analysis and fundamental analysis are two key points of financial success, but they differ greatly in their approach to investment.
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Fundamental analysis focuses on the financial statements, the actual data of the company being evaluated. To estimate stock value, fundamental analysis uses earnings, earnings, future growth, return on equity, profit margin and other data to determine a company’s value and potential for future growth.
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While fundamental analysis is important, most investors do not have the experience, desire, or time to study a company’s financial information in trying to determine if it will be a good investment or not. And the accounting tricks that some companies have introduced to prepare books, the basics may be seemingly unnecessary.
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Technical analysis, on the other hand, is a method of valuing securities by analyzing statistics obtained as a result of market activity, such as past prices and volume. Some technical analysts do not try to measure a company’s intrinsic value, but instead use charts and other tools to determine patterns that can predict future price movements.
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Technical analysis was introduced by Charles H. Doe more than 100 years ago from a series of editorials in the Wall Street Journal that he wrote and later became known as Doe Theory. The main factors of his theory have been performed for over a century and are the basis of technical analysis today. The Dow believed that the market is reducing everything, and this information is reflected in the price movement of not only the general market but also individual stocks. Instant access to news in today’s world is cemented by the fact that everything is really reduced in stock price and market movement.
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However, a wise investor should always use a dual approach to succeed. In other words, use some common sense. The company’s basic, well-known fundamentals are readily available and disclosed in terms of price to earnings (PE) and earnings per share (EPS). To avoid night companies that don’t have real profits, make sure the EPS and PE ratio match before you risk the money you earn. Then with proper knowledge of the technical analysis of the company and the common market you can make a really wise investment decision.
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There is an old saying, “If you want to know the truth, go for the money.”

This is true; charts are a trace of money. Technical analysis of charts not only reveals the current and past performance of the stock, but also the price action gives the chart a clear idea of ​​market sentiment and a valuable idea of ​​the future. All the necessary information is displayed on the chart.
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Price, volume, support, resistance, trends and more. The point is simply to be proficient in the correct interpretation of information. Graphing and technical analysis uses the foundation of Dow theory and introduces modern charting techniques to give the investor a clear advantage. In this way, an informed investor can limit risk and invest at the most convenient time, avoiding market crashes, market adjustments and bear markets. Using time-tested analysis, available fundamentals and common sense, an individual investor can succeed in any market.
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Featured

Search for forex brokers who do not give offers

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When choosing a forex broker, it is important to decide on your preferred trading strategy. What do I mean by that? I am constantly asking questions related to forex, and the main forex question should be “Which trading software / bot / autoreider will make me the most money?”.
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Interestingly, this question usually comes from potential currency traders who have never traded before … novice traders!
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It is suicide trading if you have the opinion that you can just connect an expert to MT4 (Metatrader 4) or even MT5 (Metatrader 5) and in one night you will become a millionaire on Forex. My advice on such issues – try manual trading in the Forex market first.
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It’s simple and you don’t have to be a stockbroker, a financial kid and financially savvy. Go and select a forex broker and trade manually for a while, just follow the charts, and if the currency pair charts turn out to be the lowest, open a “buy” trade, if the chart rises, your “buy” trade will make a profit. Once the chart is at the top, open a new forex as a “sale” and yes, you guessed it, when the chart falls, you will make a profit from forex.
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Don’t forget to close the deal if you have enough profit, and my main advice – don’t be greedy! It is better to trade multiple forex lots and make a small profit than to stick to a big profitable trade that can turn the other way and destroy you.

Also, if you have a position or trade that has negative numbers, open the trade in the opposite direction, such as buying or selling, and this can counteract your loss.
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Once you have learned how to trade forex, you can look for an automatic trading robot. There are many loads to choose from with fapturbo, ibybot and many more, and they all do a variety of tasks including hedging and scalping.

Then you need to find the best forex broker for scalping or forex broker that will allow your advisor / expert to work with minimal hassle. You will see that some brokers conduct re-quotes, a method used by brokers to try to fight forex scalping software. What this means is when you scalp, you try to open and close positions very quickly, which makes the broker, it stops this transaction by re-quoting, saving or making a few points / points / spread on the order, which in turn can completely throw your software for scalping.

Sometimes this re-quote is a real delay between the provider and the trading level, so always check your internet connection and firewall settings if you have regular problems with currency recall.

I have been trading forex both manually and with automated forex trading software for over 3 years, and of the 15 brokers I have been with, here is a parsing of the best brokers that allow you to scalp and not process (often).

United World Capital http://www.uwc-fx.com is a regulated forex broker that protects the money you invest in them. I have found that the system sometimes recycles quotes, but the available forex bonuses outperform repeat quotes.

Forex Hunt http://www.forex-hunt.com is an unregulated broker and definitely the best forex broker I have used. Their system is fast, and in over 4,000 trades I’ve never received a single recurrence!

In the next article I will talk about the differences between regulated and non-regulated forex brokers, this article goes to my article “The hunt for forex for brokers begins!”

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A longer confirmation period is important when trading currencies

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You need to learn the skill of trading multiple terms. It’s like zooming in and out to see what’s clearly going on with the market. If you find a trend on a smaller timeframe, confirm that on a higher one. Many traders make the mistake of trading on only one term. It only makes them waste their time and energy and lose deals.

Let’s say you find a trend on the intraday chart and a trend on the daytime chart in the same direction, it’s like having the wind in your back. If you can master the art of identifying currency pairs that have daily trends in the same direction as daily and weekly ones, you can reap huge benefits.

If you are trading on an hourly chart, look for confirmation on the 4-hour chart. If you are trading on a 15-minute chart, look for confirmation on the 60-minute chart. And if you find a good signal on the daily chart, look for confirmation on the weekly chart.

So, usually first pay attention to setting up trading for the intermediate term. If you find a potential reversal of the trend, ask for confirmation before a longer date. Longer-term terms should also show signs of a possible reversal of the trend, such as a stochastic cross or dodge. Now go for a shorter time for the signal in the same direction.

Now that you are viewing charts, always use the right amount of time to make the right trading decisions. The preferred time for each schedule should be:

Monthly schedules: 7 years,

Weekly schedules: 2.5 years,

Schedules of the day: 8 months,

Schedules for 4 hours: 1.5 months,

Schedules for 1 hour: 10 days,

Schedules 15 minutes: 28 hours,

5-minute charts: 8 hours.

Timeframe coordination means viewing trading settings on a higher timeframe and then waiting for the trading signal in the same direction on the lower timeframe. Therefore, once the signal arrives at a smaller timeframe, you should recheck the higher timeframe to confirm that the initial signs justifying the trading signal are still in place.

The disadvantage of this longer term of trend confirmation is the counter trend market, the side market or the reversal of the trend. If you use higher timeframes to confirm a reversal, you will skip it as it happens first on the lower timeframes. This is why it is very important for you to understand the difference between trending trades and counter trending trades.

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Importance of MetaTrader 4 metrics

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Anyone who wants to trade currencies in the Forex market will need online software that allows them to trade in real markets through an automated broker, as well as have all the charts, charts and tools at their disposal. MetaTrader (MT4) 4 is one of the most popular such trading platforms on Forex, and this one is especially known for the large number of free graphical charts and downloadable metrics that give traders a wide range of options for selecting technical trading signals. to watch or follow him.

Indicators indicate charting schemes that traders are looking for to try to predict a future trend. There are many different chart patterns that could potentially hint at where future market movements will be. Looking at the currency markets that are most volatile due to large volume and even seconds behind the second price movement, many successful traders firmly consider it important to have several different indicators that either confirm potential market movements based on current charts. , or contradicts each other and helps give the trader a better idea of ​​when to sit until the best signal appears.

Forex trading on MetaTrader 4 makes a lot of sense because of the many free indicator programs that can be added to this platform. Trying to trade currencies with only one indicator or technical symbol is a quick way to break up. The ability to load multiple technical models on the same chart allows a trader to look admirably at whether only one particular model implies an upward trend or care, or whether there are several different indicators suggesting the same thing.

Although the presence of even a few technical tools that point to a market trend is no guarantee, the more ones that look in line and confirm the strength of any potential movement, the higher the chance of a successful trade. Therefore, individuals who trade Forex on MT4 have a major advantage over other traders because of the large amount of good information that can be processed based on the program and platform used.

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Blockchain & IoT – How "Crypt" Most likely going to Herald Industry 4.0

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While most people began to learn about the “blockchain” only because of bitcoin, its roots – and applications – are much deeper.

Blockchain is a technology in itself. It ensures the operation of bitcoins and is essentially the reason why * so many * new ICOs have flooded the market – to create an “ICO” is ridiculously simple (no barriers to entry).

The point of the system is to create a decentralized database – which essentially means that a network of computers (usually managed by individuals) rather than relying on ones like “Google” or “Microsoft” stores data. just like a big company.

To understand the implications of this (and thus where technology can take the industry) – you need to look at how the system works at a fundamental level.

Created in 2008 (1 year before bitcoin) and is an open source software solution. This means that its source code can be downloaded by anyone in the edit. However, it should be noted that the central “repository” can only be modified by an individual (so “developing” code is mostly not free).

The system works with the so-called merkel tree – a type of data graph that was created to provide version access to data to computer systems.

Merkel trees have been used very effectively in a number of other systems; especially “GIT” (source code management software). Without getting too technical, it basically keeps a “version” of the dataset. This version is numbered and thus can be downloaded at any time if the user wants to remember the old version. In the case of software development, this means that the source code set can be updated on multiple systems.

The way it works – it’s storing a huge “file” with central data set updates – it’s basically what provides similar “bitcoins” and all the other “crypto”. The term “crypto” simply means “cryptographic”, which is a technical term for “encryption”.

Regardless of the main activities, the real advantage of broader “chain” adoption is almost certainly the “paradigm” it gives to the industry.

The idea called “Industry 4.0” has been floating for decades. The idea, often confused with the “Internet of Things,” is that a new level of “stand-alone” technology can be introduced to create even more efficient methods of production, distribution, and delivery for businesses and consumers. Although it often occurred, but in fact it was never accepted.

Many experts now see technology as a way to facilitate these changes. The reason is that the most interesting thing about “cryptography” is that – as Ethereum-like ones especially suggest – the various systems built over it can actually be programmed to work with a layer of logic.

This logic is really lacking in IoT / Industry 4.0 so far – and why many are looking at a “blockchain” (or equivalent) to provide a baseline standard for new ideas moving forward. This standard will enable companies to create “decentralized” applications that allow intelligent mechanisms to create more flexible and efficient production processes.

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Trade using multiple time frames

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Why do we need to trade using multiple time frames?

To increase the effectiveness of our trading strategy. We see a major trend with the use of higher time frames than what we intend to use, and lower time frames for entering into a transaction.

Let’s say we want to trade using Daily Charts. We take weekly charts to see the main trend. Suppose this is an upward trend in the weekly schedule. We will seek to trade only long positions. We will use entries in daily charts to enter only long positions. When sales signals are generated, we just get out of our long positions. That is, we do not sell.

Suppose this applies to a decrease in the weekly schedule. We will seek to trade only short positions. We will use entries in daily charts to enter only short positions. When buy signals are generated, we just get out of short positions. That is, we do not take long positions.

We now use two timeframes. Now comes the time to enter trades or add additional positions. (Pyramiding) We can further use an hourly chart to determine time. Suppose weekly and daily schedules go up. We will enter a long or extra long position if the hourly schedule will give us a buy signal. Suppose weekly and daily schedules decline. We will enter a short or extra short position if the hourly chart gives us a sell signal. This term will not be used to withdraw from trading. This is solely to improve entry deadlines. For the outputs we would use the signals generated in the daily graphs.

Use multiple time frames to trade

We take three charts of equal security. First, it’s a weekly schedule. The next schedule is the daily schedule. The third schedule is an hourly schedule.

We will now use the daily chart to trade. We check the weekly chart for a weekly trend. Not to assume that the weekly trend is increasing. So based on this information, we will just trade long positions in the daily chart.

We are looking for a shopping opportunity in the daily schedule or can see the hourly schedule to enter a long position.

We now use the hourly purchase option to enter additional items. We would only go out on a daily chart basis because we traded on a daily chart basis.

Similarly, we can trade short when weekly charts are in a downward trend and the daily chart creates a sales opportunity. Additional positions are introduced each time sales opportunities are created on hourly charts.

For day trading we can use hourly, 15 minute and 5 minute charts, here we trade the 15 minute chart. Or we can use 15 minute, 5 minute and 3 minute charts, here we trade the 5 minute chart.

Good luck and happy trade.

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Forex Trading Tips – What Benefits Can You Gain By Trading World Currencies?

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What profits can be expected from trading world currencies and how much effort does it take to get a big second profit? In this article, I will give you some realistic goals that I am striving for, as well as an idea of ​​the amount of training and work you need to do to achieve this.

Forex is easy to learn and there is no need to be constantly educated if you have a system that you are happy with and in which you have confidence. No system is perfect, but if you have a simple chart-based system, you can make a lot of money with it. So how long will it take to study a simple chart-based system? I believe that it will take a couple of weeks to learn everything you need to know – and all – no further study is required.

Many traders spend their time researching new systems when they receive multiple losses, but all systems will experience losses. Instead of sharing systems, if you have confidence in your system, trade it through periods of loss with discipline. If the systems are thoroughly grounded, it will make money in the long run. Short-term capital dips happen to all traders, so take them, trade with discipline and focus on the long term.

Your system should also be based on the following long-term pricing actions. If you focus on the longer term, you will get more profit and do less work, and an hour of the weekend can bring you more profit.

So how much money can you make by trading Forex?

Of course, this will vary depending on the traders and systems, but here are some common points regarding how much you can earn and the size of the drop in equity that you can expect.

The best traders will earn 30 to 100% per annum, and this can be achieved even by new traders. You will see many gurus and cheap Forex robots who say you can earn 100 – 1000% a year and also have very small losses (usually less than 5%) but they lie and do not reach these figures.

If you do 30 – 100%, your draw will increase with the amount you normally focus on. If you are aiming for a 30% annual gain, your drawdown will be around 10% and at 100% profit it will be around 30 – 50% and loss periods will always last from a few weeks to a few months, so it is important to make sure that your views were firmly focused on the long term – to reduce their losses and make a profit.

The above is an honest estimate of how much money you can make by trading Forex, and the time it will take you to make it so good luck, and I hope the above tips for trading the Forex market help you succeed in long-term trading.

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The MT4 Forex trading platform is the best software package you could think of

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Whether you are an experienced forex trader or a beginner, you can use the MT4 forex platform to easily trade forex. It provides you with all the tools you need to know when to invest and when to stop trading. In addition, you will also be able to trade automatically without making any contribution from your part.

If you download and install this free software package, you can turn your computer into a forex trading terminal with all the necessary tools. You will have graphs showing the details of the currency’s movement with its value. It is the expert consultants that are available with this software that allow you to perform all these very useful tasks of placing trade orders, adjusting them if necessary and setting alerts. In addition to the already available expert advisors you have the option to create your own, in case you want to use them for special tasks.

Having a back testing system is one of the most important tools on the MT4 forex platform. This will allow you to look at the success or failure of strategies you have used in the past as you might view past data with it. With its use you have the opportunity to adjust your trading strategies according to the existing trading environment.

MT4 software allows you to create your own charts to generate your signals, and you can save them as templates for later use. You can download them at any time and use. If desired, you can download multiple schedules at once. Even you have the ability to save frequently used indicators and apply them to other charts as needed.

If you use the MT4 forex trading platform, your scope is endless. So your chances of incurring losses are very distant. There are various technical indicators to help you. Alternatively, you can create your own using the easy-to-use MQL 4 language. With all of these suggestions, you can start your forex session very quickly. If you are not sure if you will be able to do this, it is best to open a demo account on one of the MT4 trading sites and practice trading for a while.

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