This blog offers fundamental analysis, technical analysis and various currency trading information.
Quite a lot of time has passed since our last review of Forex brokers customers’ profitability report — it had been published with the poll about the possibility of the ESMA CFD/Forex rules renewal. Since then, the rules have been renewed to last at least through February 1, 2019. …
EUR/USD jumped today. Market analysts speculated that the possible reason for that was the dovish tone of several Federal Reserve officials. While Fed Chairman Jerome Powell was optimistic about US economic growth, he cautioned against headwinds to growth and fading fiscal stimulus. Fed Vice Chairman Richard …
EUR/USD dropped sharply intraday but rebounded later despite the fact that most of US macroeconomic reports released today were better than expectations.
Retail sales rose 0.8% in October, exceeding market expectations of a 0.6% increase. The September reading was revised from an increase by 0.1% to a decrease of the same rate. …
EUR/USD reacted with volatility to the US Consumer Price Index, which came out within expectations. Initially, the currency pair spiked but retreated very quickly, demonstrating a sharp pullback.
CPI rose 0.3% in October, matching analysts’ forecasts exactly. The index increased 0.1% in September. (Event A on the chart.)
Yesterday, a report …
The Canadian dollar has formed a symmetrical triangle pattern versus the Swiss franc, which is especially visible on daily timeframe. The pattern follows an upswing and suggests a continuation of the bullish trend in case of a topside breakout.
The borders of the triangle are marked with the yellow lines on the image below. My potential entry level is marked …
No new brokers have become listed on our website during this week. Some have been updated:
ForexChief is now registered in Vanuatu. Accepts deposits via Bitcoin, FasaPay, and UnionPay. Added many new cryptocurrency pairs for trading. They now accept US traders and offer trading contests. …
EUR/USD fell today. Some market analysts attributed the decline to the better-than-expected US Producer Price Index print, which boosted the dollar. But the currency pair actually did not respond to the release, continuing to move largely sideways after it and falling later. The EUR/USD pair was heading to end the week lower.…
EUR/USD was moving down today and fell further after the Federal Open Market Committee decided to leave its monetary policy without change.
Initial jobless claims fell a bit from 215k to 214k last week, in line with analysts’ forecasts. (Event A on the chart.)
FOMC left interest …
With ampler layout and lots of bugs squashed, version 2.15 of Position Size Calculator together with version 1.06 of PSC-Trader have been released today. The main goal of this update was to fix as many errors and inconsistencies in calculation and display as possible. The second goal was to add some of the requested …
Upon receiving quite a lot of feedback and suggestions on further improvement of the Market Profile indicator, I have finally managed to prepare the new version — 1.08. The latest build is now more robust than ever:
The newest version (2.14) the Position Size Calculator indicator, which is released today, introduces a new way to set stop-loss and take-profit for your potential trade setups. You can set the new input parameters UseFixedSLDistance and UseFixedTPDistance to true to turn this new mode on:
The example …
Two years ago, I have added the capability for a Market Profile indicator to work with weekly and monthly trading sessions. One of the members of our Forum suggested adding customizable intraday sessions to Market Profile. Considering the fact that quite a few Forex traders use Market Profile for analysis, …
Today’s update to the Position Size Calculator indicator is not as big and significant as the last one, but I am sure the version 2.08 will be interesting to many traders.
Platform profile change will no long disrupt your panel location, minimization status, and settings:
Pip value…
It is time to roll out a new version of the Position Size Calculator indicator. Although the new release does not implement any breakthrough changes it introduces some useful features and fixes one annoying bug.
Take-profit button multiplier (set via input parameter) can be …
I remember myself during my early Forex years, sitting on a bunch of positions across five or six currency pairs and thinking — how do I make them all close at once when their total profit reaches my target? Now, I have developed a tool that does exactly that. I am pleased to announce the launch …
MetaQuotes has spurred my development process, forcing me to release the next version of the Position Size Calculator indicator much faster than I had intended to. Their latest changes to both MT4 and MT5 platforms prevented compilation of the PSC source code due to new way the string variables must be …
It is time to release another version of Position Size Calculator indicator. It has some important bugs fixed and also adds new exciting features, including two new tabs. The complete list of changes is provided below.
I have uploaded a new version of Position Size Calculator indicator for MetaTrader today. It addresses several issues mentioned in the forums and in support messages and provides better usability. Here is the list of changes:
A successful currency trader needs a proven trading strategy. Many traders prefer strategies based on trends. Such strategies work best with currency pairs that trend well. Monitoring a predominantly range-bound currency pair (USD/KRW, for example) would yield little result, even with a solid trading strategy…
Arbitrage is a practice of earning money by simultaneously buying and selling the same asset on different markets without exposing yourself to the asset value risk. The simplest example of FX arbitrage would be to buy a currency at one broker at an Ask price that is lower than the Bid price you can sell it …
Currency trading is by and large carried out in the OTC (over-the-counter) market. Lack of a central regulatory authority has given rise to numerous Forex brokers with offices in exotic locations. A large section of the retail traders depend on these Forex brokers to trade currencies from the comfort of their home. While it just …
As per efficient market hypothesis, it is almost impossible to outperform the market. The reason is that market’s efficiency ensures that relevant details of an asset are incorporated in the prevailing trading price. It means that, theoretically, there is no possibility of buying and selling an asset low and high respectively. …
Many think of bitcoin as an investment and rightly so, it has grown from being worth fractions of a penny to being worth hundreds of dollars in a few short years. Price fluctuations have made it a popular commodity to trade both in the futures market and in real time. Bitcoin now easily surpasses $100 …
Food has a direct effect on the performance of a trader. A healthy diet keeps a trader alert and active throughout the day. This would ultimately enable a trader to have a clear understanding of the price movement in the market, to validate signals without lack of concentration and to take successful trading decisions without any dilemma. In this regard, let …
Update 2017-09-15: The review has been updated to provide current information on the calendars’ page load speed, number of events, and forecast accuracy. Also, since WBPonline.com no longer offers an active Forex calendar, it was replaced with TeleTrader calendar review (do not confuse with the scam broker …
While all transactions in a stock or futures markets are carried out under the supervision of an exchange, Forex is an over-the-counter market where the transacting parties can be from different corners of the globe. Thus, in the interest of investors, it becomes all the more important for the regulatory authorities to closely monitor the brokers facilitating the trades. …
Originally, I intended this post as a do-it-yourself guide on how to add alerts to MetaTrader indicators without knowing how to code at all. But writing it, I came to realization that even if a trader knows nothing about MQL language and coding he will have to learn some basics through this …
The normal gap trading strategy — that is buy/sell after a weekly gap to profit from gap’s compensation — has a nice statistical evidence behind it. But what do we know about forecasting the weekly gaps based on information available to us on late Friday session?
I have decided to backtest …
Market Profile indicator is a powerful tool developed by a CBOT trader. Its original purpose was to graphically organize price and time information obtained during a trading session in a manner useful to traders. Today’s Forex market is quite different from what commodity futures trading was back in 1985 …
Without looking at any charts, my first thought about the strongest major currency during the last five years would have been the US dollar. After all, it was the major winner in the global financial crisis of 2008 when the markets had run for safety while the dollar’s rivals fared poorly. …
If you ever wondered what is the total cumulative risk of your currently open orders and positions, then my latest MetaTrader tool — Risk Calculator — will help you to answer that question even if you have many orders with interwoven stop-loss and take-profit levels.
Although, I am …
The aim of a Forex trading checklist is to prevent impulsive trading and accidental mistakes. An essential checklist for smooth execution of a basic Forex trading entry is presented below. Feel free to build on it and modify it according to your trading style.
The influence of the US presidential cycles on the stock market is known for years. There are articles published in the peer-reviewed economics journals focusing on the idea of trading using the presidential cycle as a signal. One of the latest such articles is The Four-Year U.S. Presidential Cycle and the Stock Market published in Graziadio Business Review by Marshall Nickles …
