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Where is Forex Traded?​

Forex is traded primarily via three venues: spot markets, forwards markets, and futures markets. The spot market is the largest of all three markets because it is the “underlying” asset on which forwards and futures markets are based.
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Why Do People Trade Currencies?​

Companies and traders use forex for two main reasons: speculation and hedging. The former is used by traders to make money off the rise and fall of currency prices, while the latter is used to lock in prices for manufacturing and sales in overseas markets.
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Are Forex Markets Volatile?​

Forex markets are among the most liquid markets in the world. Hence, they tend to be less volatile than other markets, such as real estate. The volatility of a particular currency is a function of multiple factors, such as the politics and economics of its country. Therefore, events like economic instability in the form of a payment default or imbalance in trading relationships with another currency can result in significant volatility.​

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Which Currencies Can I Trade In?​

Currencies with high liquidity have a ready market and therefore exhibit smooth and predictable price action in response to external events. The U.S. dollar is the most traded currency in the world. It features in six of the seven currency pairs with the most liquidity in the markets. Currencies with low liquidity, however, cannot be traded in large lot sizes without significant market movement being associated with the price. Such currencies generally belong to developing countries. When they are paired with the currency of a developed country, an exotic pair is formed. For example, a pairing of the U.S. dollar with India’s rupee (USD/INR) is considered an exotic pair.​

How Do I Get Started With Forex Trading?​

The first step to forex trading is to educate yourself about the market’s operations and terminology. Next, you need to develop a trading strategy based on your finances and risk tolerance. Finally, you should open a brokerage account. Today, it is easier than ever to open and fund a forex account online and begin trading currencies.​

The Bottom Line​

For traders—especially those with limited funds—day trading or swing trading in small amounts is easier in the forex market than in other markets. For those with longer-term horizons and larger funds, long-term fundamentals-based trading or a carry trade can be profitable. A focus on understanding the macroeconomic fundamentals that drive currency values, as well as experience with technical analysis, may help new forex traders to become more profitable.

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What Is a Spot Trade?​

A spot trade, also known as a spot transaction, refers to the purchase or sale of a foreign currency, financial instrument, or commodity for instant delivery on a specified spot date. Most spot contracts include the physical delivery of the currency, commodity, or instrument; the difference in the price of a future or forward contract versus a spot contract takes into account the time value of the payment, based on interest rates and the time to maturity. In a foreign exchange spot trade, the exchange rate on which the transaction is based is referred to as the spot exchange rate.​

• Spot trades involve securities traded for immediate delivery in the market on a specified date.​
• Spot trades include the buying or selling of foreign currency, a financial instrument, or commodity​
• Many assets quote a “spot price” and a “futures or forward price.”​
• Most spot market transactions have a T+2 settlement date.​
• Spot market transactions can take place on an exchange or over-the-counter.​

Understanding a Spot Trade​

Foreign exchange spot contracts are the most common type and are usually specified for delivery in two business days, while most other financial instruments settle the next business day. The spot foreign exchange (forex) market trades electronically around the world. It is the world's largest market, with over $5 trillion traded daily; its size dwarfs both the interest rate and commodity markets.

The current price of a financial instrument is called the spot price. It is the price at which an instrument can be sold or bought immediately. Buyers and sellers create the spot price by posting their buy and sell orders. In liquid markets, the spot price may change by the second, as outstanding orders get filled and new ones enter the marketplace.​

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[Georgeeed]

How much do you charge for deposit and withdrawal? i saw something like mining fee for some wihdrawals on the website, I kind of need clarity on that

 

[SOLIDECN]

How much do you charge for deposit and withdrawal? i saw something like mining fee for some wihdrawals on the website, I kind of need clarity on that

Dear @Georgeeed,

Thank you for sharing your question with the community.

We do not apply any extra charges on deposits or withdrawals. The whole concept of cryptocurrencies is to make money transfer and trading more cost-effective.

However, the mining fee is debited from the sender. The coins we receive will be credited to the customer's account without any deductions.

Should you have any questions, please do not hesitate to contact us.

 

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Difference Between Spot Rate and Futures Rate​

The currency spot rate is the current quoted rate that a currency, in exchange for another currency, can be bought or sold at. The two currencies involved are called a "pair." If an investor or hedger conducts a trade at the currency spot rate, the exchange of currencies takes place at the point at which the trade took place or shortly after the trade. Since currency forward rates are based on the currency spot rate, currency futures tend to change as the spot rates changes.

If the spot rate of a currency pair increases, the futures prices of the currency pair have a high probability of increasing. On the other hand, if the spot rate of a currency pair decreases, the futures prices have a high probability of decreasing. This isn't always the case, though. Sometimes the spot rate may move, but futures that expire at distant dates may not. This is because the spot rate move may be viewed as temporary or short-term, and thus is unlikely to affect long-term prices.​

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Two effective Trading Strategies using Williams % R​

Williams % R for Trading Strategies is a very simple but effective is a technical analysis oscillator described by Lary Williams in the year 1973. It measures the capacity of bulls and bears to close prices each day near the edge of the recent range. Williams % R confirms the trend and gives us a warning of the upcoming reversal.

Williams % R gives us 3 types of trading signals. They are as follows-​

1. It defines the overbought and oversold zone​
2. It defines failure swings​
3. It identifies bullish and bearish divergence​

Case 1:
When the price closes below the 100 DMA and the Williams % R is below the 50 line, a short signal is generated. We will remain in the trade until the Williams % R gives closing above 50 line and the price closes above 100 DMA.

In the first scenario, as we can see in the chart, that when the price closes below the 100 DMA and the Williams % R was also below the 50 line, we could have taken a short trade. However, when the Williams % R crossed back above the 50 line, we could book our trade, thus making a fair amount of profit in the process.

Case 2:
When the price closes above the 100-period moving average, from below, and the Williams % R is above the 50 line, a buy signal is generated. We will be there in the trade unless the Williams % R gives closing below 50 line or the price closes below the 100 DMA.

In the second scenario, we saw that as the price closed above the 100 DMA and as long the Williams % R is above the 50 line, we could remain in the trade. However, when the Williams % R closed below the 50 line, we could have exited the trade. This trade could give us very good profit.​

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Trading with Elliott Wave (Part 1/2)​

Technical analysis’ Elliott Wave theory is used to explain price changes in the stock market. Ralph Nelson Elliott created the hypothesis after observing and identifying recurrent, fractal wave patterns. Consumer behavior and stock price movements both exhibit waves. The theory holds as these are recurring patterns, the movements of the stock prices can be easily predicted. Investors can get an insight into ongoing trend dynamics when observing these waves which also helps in deeply analyzing the price movements.​

What is Elliott Wave?​

The Elliott wave principle is a form of technical analysis that helps traders in analyzing the financial market cycle. With the help of this Elliott wave theory, traders can forecast market trends by identifying extremes in prices and investor psychology. Elliott Wave Theory suggests that movements of the market follow a sequence of crowd psychology cycles. The Elliott Wave Patterns are formed according to the ongoing market sentiment, which alternates between bullish and bearish cycles.

How does Elliot Wave work?​

The Elliott wave theory is a type of technical analysis that aids traders in understanding the cycles of the financial markets. By spotting extremes in price and investor psychology, traders can predict market patterns using the Elliott wave theory. According to Elliott Wave Theory, market movements are said to be influenced by a series of cycles in crowd psychology. The current market attitude, which alternates between bullish and bearish cycles, determines how the Elliott Wave Pattern is generated.

The concept of wave analysis as a whole does not equal to a typical blueprint formation where you just follow the instructions, unlike most other price formations. Wave analysis provides insights into trend dynamics and aids in a deeper understanding of price movements.​

Decoding Elliott Wave Impulsive Pattern​

Five sub waves make up an impulse wave, which moves overall in the same direction as the trend of the largest degree. The most prevalent and straightforward to identify motive wave in a market is this pattern. It is made up of five sub-waves, five motive waves, three of which are likewise motive waves, and two corrective waves. This is classified as a 5-3-5-3-5 structure, as was previously illustrated.

Its creation is governed by three unbreakable rules:​

• Wave two cannot retrace the preceding wave more than 100%.​
• Of waves one, three, and five, the third wave can never be the shortest.​
• Wave four cannot ever advance past the third wave.​

The structure is not an acceptable structure if one of these rules is broken.​

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Trading with Elliott Wave (Part 2/2)

Decoding Elliott Wave Corrective Pattern
Corrective waves, also known as diagonal waves, are composed of three sub-waves or a combination of three sub-waves that result in a net movement that is perpendicular to the trend of the next-largest degree.

Its objective, like with all motive waves, is to move the market in the trend’s direction.

There are five sub-waves in the corrective wave. The diagonal is different because it might seem like a wedge that is either extending or contracting.

Depending on the sort of diagonal being observed, the sub-waves of the diagonal may not have a count of five. Every sub-wave of the diagonal, like the motive wave, never exactly repeats the previous sub-wave, and wave number three of the diagonal may not be the shortest wave.

Elliott Wave with Fibonacci
Corrective wave application emphasises the potential for cross-studying Fibonacci retracements. Fibonacci levels were not directly used by Elliott, although traders have done so to make the conventional theory more complex.

Which Fibonacci retracement levels might be applied at different stages in the trend are highlighted by the previously stated principles. The 23.6 percent -50 percent levels would be of special interest to a trader searching for a fourth wave given rule three, who would also be looking for it to be reasonably shallow.

Additionally, we can look for the correct A, B, and C move to represent a retracement of 50% to 61.8% of the overall 1-5 impulse move.

Bottom-line
For many people all across the world, Elliott Wave theory continues to provide markets a sense of structure. The capacity to constantly adjust the theory whenever a rule is breached can make it difficult to employ the theory as a trading tool.

But it also significantly improves trend recognition’s level of clarity. Elliott’s original principles can be made as complex as a trader wants, but it is unquestionably an approach that many traders choose to prioritise in their market tactics.

We hope you found this blog informative and use it to its maximum potential in the practical world. Also, show some love by sharing this blog with your family and friends and helping us in our mission of spreading financial literacy.​

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[Navarrete]

Do you accept crypto transactions? what's network?

 

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Understanding Mat-Hold Candlestick Pattern​

The Mat-Hold candlestick pattern is a five-candlestick pattern that appears during a trend and indicates that the market is likely to continue moving in the same direction. The pattern can be bullish or bearish, and it can be found in all assets and time frames. When applied appropriately, it has a high success rate.​

What is Mat-Hold Candlestick Pattern?​

A candlestick formation known as a mat hold pattern shows the continuation of a previous move. Mat hold patterns can be bullish or bearish. A bullish pattern consists of a large upward candle, a gap higher, and three smaller candles that move downward. These candles must stay above the first candle’s low point. The fifth candle is a huge candle that is moving upwards once more. The pattern appears as part of a larger upward trend.

Candles one and five are large down candles in the bearish version, while candles two through four are smaller and travel to the upside. These candles must stay below the first candle’s peak point. A long candle to the downside, candle five, completes the pattern. It has to happen during a decline. You must be aware of three key aspects to recognize the Mat Hold candlestick pattern:​

Bullish Mat Hold​

> During a bullish or bearish trend, the Mat Hold pattern appears.
> Five candlesticks make up the pattern: a bullish or bearish candle, three opposite candles, and another candle in the same direction as the first.
> In either the bullish or bearish variation, the last candle must close above (or below) the previous fourth candle.​

Bearish Mat Hold​

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What do traders interpret?​

When a bullish mat hold pattern appears in an uptrend, it indicates that the trend is likely to resume to the upside. Traders can buy near the fifth candle’s closure (big up candle) or begin a long trade on the next candle. A stop loss is usually placed below the fifth candle’s low.

When a bearish mat hold pattern appears within a downtrend, the downtrend is likely to resume and prices will fall further. Traders may sell or short near the fifth candle’s close or on the next candle. Short positions have a stop loss above the fifth candle’s high.

Both variations of the pattern are quite uncommon. They illustrate that the price is firmly moving in the trending direction (candle one), with only slight pressure in the opposite direction (candles two through four) before it resumes its trending movement (candle five).​

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Trading Example​

You’re seeking to join an existing trend when you trade the Mat Hold pattern. As a result, you’re waiting for the market to retrace in order to jump on board without incurring too many risks. As previously stated, the Mat Hold chart pattern can emerge in bullish and bearish trends. Because it’s a continuation chart pattern, you’ll want to pair it with Fibonacci retracement levels to understand support and resistance levels better.
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Limitations of Mat-Hold Candlestick Pattern​

The mat hold pattern is difficult to come by. However, it happens occasionally, and the price does not always move in the expected direction when the pattern is followed.

For the mat hold pattern, there is no profit target. The pattern does not show how far the price could go if it moves as planned. Another method, such as trend analysis or technical indicators, or possibly another candlestick pattern, will be required to determine an exit. The mat hold pattern is best used in conjunction with other types of analysis because it can be unreliable if traded alone.
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Bottom-line​

We hope you found this blog informative and use it to its maximum potential in the practical world. Also, show some love by sharing this blog with your family and friends and helping us in our mission of spreading financial literacy.​

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About us​

Solid ECN Securities is a team of experts with more than a decade of experience in trading, IT, and brokerage development. Gradually over the years, we collected priceless information about the market demands. We have learned how to safeguard and secure the trading environment on contracts.

It was in 2017, that we were determined to establish an independent hub to protect our accounts and trades. It was at that time we came up with the idea of Solid ECN Securities. We started with a self-developed platform, but due to the trading demands, the platform could meet our minimums only. Therefore, we stepped up and made it to the next level.

We formed the company and hired more experts to expand the Solid ECN brand worldwide. The pillar of the company is to provide secure trading without discrimination.​

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Understanding On-Neck Candlestick Pattern
The On-Neck Candlestick Pattern is made up of two candlesticks: a tall down candle and a much shorter up candle that gaps down on the open but closes at or near the previous candle’s close. The pattern is called “On Neck” because it produces a horizontal line that can be interpreted as a “neckline” or “neck” when the two closing prices are the same (or nearly the same) throughout the two candles.

What is On-Neck Candlestick Pattern?
When a long real body down candle is followed by a smaller real bodied up candle that gaps down on the open but closes near the prior candle’s close, the on neck pattern occurs. The pattern is known as a neckline because the closing prices of the two candles are the same (or nearly the same), forming a horizontal neckline. In theory, the pattern is considered a continuation pattern, implying that the price will continue to fall as a result of the pattern. In actuality, this happens just about half of the time. As a result, the pattern frequently implies at least a short-term upward reversal.

Formation
Look for the following characteristics to identify the On Neck pattern:

> First, there must be a downward trend going on.
> There must appear a towering black (bearish) candle.
> Finally, the black candle must be followed by a smaller white (bullish) candle.
> The white candle’s close should be virtually identical to the previous candle’s low. Therefore, it should not climb above the low price of the black candle.
> Look for a black candle on the third day to confirm the On Neck pattern and continue the downward trend. A long body, as well as a gap between the second and third days, demonstrate strength.
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How to use Rising and Falling Window Candlestick Pattern​

Rising and Falling Window Candlestick Pattern- The support and resistance zones of window candlestick patterns are highly rigid. Therefore, a stiff resistance region is generated in the case of a Falling Window candlestick pattern, which gives a better probability of trade chances on consecutive re-tests of the resistance area. Similarly, a stiff support region is generated in the case of a Rising Window candlestick pattern, which also gives a better probability of trade chances on consecutive re-tests of the support area.

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What is Rising Window Candlestick Pattern?​

There must be space between the real bodies of two candles to form a Window (whether rising or falling); in fact, even their shadows should not overlap. During an uptrend, a Rising Window is a price gap that forms. The space between the candles represents the distance between the high of the previous candle and the low of the current candle. This trend indicates that the bulls are in control, and we can expect them to keep pushing the price higher. Examine the size of the gap to acquire a better understanding of the pattern’s message. For example, a high gap denotes a significant price increase, whereas a small gap denotes a modest (and unimportant) price change.
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Formation​

The Rising Window, also known as a “gap up,” appears when the price continually rises, and it is always regarded as a bullish signal. So don’t be startled if you see the Rising Window; it’s a common occurrence (though not as often on charts with longer time scales).

Because this continuation pattern is so simple and common, make sure you look at it carefully to understand what it’s trying to tell you. Small details can have a significant impact.
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Triple candlestick patterns
(part 1/2)

Understand Three Outside up and Three Outside Down Candlestick Patterns​

• The outside three up/down candlestick patterns are variations of chart candle reversal patterns. They are usually used to indicate a trend reversal.​
• The three outside up/down candlestick patterns are distinguished by one white or black candlestick immediately followed by two candlesticks of the opposite hue.​
• These varieties of the three outside patterns aim to read near-term changes in trader sentiment by leveraging the market’s psychology.​

What is Three Outside Up Candlestick Pattern?
Three successive candlesticks form the three outside up pattern, which usually appears after a bearish trend. The movement of these candles always indicates whether or not a trend reversal is imminent.

A single bearish candle is followed by two bullish candles to form the pattern. For counter-trend trading tactics to work, accurate detection of this pattern is critical.

Formation
Below is the formation of the Three Outside Up Candlestick Pattern-​

1. The market must decline for a three outside up pattern to appear.​
2. The pattern’s first candle will be black, signifying a downward trend.​
3. A large white candle will be formed next. It will be long enough for the first black candle to be completely contained within its true body.​
4. The third and final candle, which indicates three outside up, must also be white. This candle, however, should close higher than the second candle. This shows that the downward trend is changing direction.​

What Traders Interpret from a Three Outside Up Pattern
With the closure lower than the open, the first candle maintains the bearish trend, showing significant selling interest and building bear confidence.

The second candle begins lower but quickly reverses, crossing through the first tick in a bullish showing. This price action raises a red flag for bears, signaling that those gains should be taken or stopped because a reversal is possible.

The stock continues to rise, with the price now above the first candle’s range, completing a bullish outside day candlestick. This boosts bullish sentiment and triggers buy signals, verified when the security makes a new high on the third candle.

Trading Example
One of the important characteristics of this technical indicator is that the size of the engulfing candlestick, which is the second of three, determines its power. The three outside up patterns is more prominent the larger the second candle.

The smaller the negative downtrend becomes, the weaker its indication becomes. As the price movement increases with the second candle, bullish sentiments appear to be outnumbering bearish sentiments.​

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What is Three Outside Down Candlestick Pattern​

Three successive candlesticks form the three outside down pattern, which usually appears during a bullish trend. The movement of these candles always indicates whether or not a trend reversal is imminent. A single bullish candle is followed by two bearish candles to form the pattern. For counter-trend trading tactics to work, accurate detection of this pattern is critical.
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Formation​

Below is the formation of the Three Outside Down Candlestick Pattern-

1. The market must be uptrend for a three outside down pattern to appear.
2. The pattern’s first candle will be white, signifying an uptrend.
3. A large black candle will be formed next. It will be long enough for the first white candle to be completely contained within its true body.
4. The third and final candle, which indicates three outside down, must also be black. This candle, however, should close higher than the second candle. This shows that the uptrend is changing direction.
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What Traders Interpret from a Three Outside Up Pattern​

With the closing higher than the open, the first candle maintains the bullish trend, showing significant buying demand and building bull confidence. The second candle rises but quickly reverses, crossing through the starting tick in a bearish showing. This price action signals a red flag for bulls, signaling that gains should be taken or tightened because a reversal is possible. The asset is still losing money, with its price dropping below the first candle’s range, completing a bearish outside day candlestick. These boosts bear confidence and trigger selling signals, verified when the stock makes a new low on the third candle.
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Trading Example​

As can be seen, the price is strongly going upward, indicating that the bulls have taken control of the market. As a result, the first candle in the pattern closes favorably, following the trend.

The body of the candle, on the other hand, stays modest, which could indicate a slowdown in buying enthusiasm. Finally, the second candle opens ‘gap up,’ indicating the bulls’ attempt to push prices farther higher.

The purchasing enthusiasm has entirely faded at this time, and the bears have entered the market. This rapid surge of sellers in the market flips the market, causing the price to drop. The bears’ grip on the second session is so strong that the second candle’s closing price is lower than the bullish candle’s initial price.

Because of the strong selling pressure, the second candle ends up engulfing the first. The bears ramp up the pace in the third session, with the pattern’s last candle ending in the negative zone.
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Bottom-line​

We hope you found this blog informative and use it to its maximum potential in the practical world. Also, show some love by sharing this blog with your family and friends and helping us in our mission of spreading financial literacy.
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