Posts Tagged ‘Forex trading’

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Strategy: Three Black Crows and Three White Soldiers Candlestick Patterns

In this video, you will learn how to identify and trade the three soldiers and the three crows pattern. You will locate the three soldiers pattern after a downtrend. It consists of three bullish candlesticks. The size of the second and third candlesticks should be nearly same. You can enter a long position here with a stop-loss. However, if the third candlestick appears with a slightly smaller body, it also indicates buyers […]

Refusing to Take a Loss — How to Deal with Trading Losses?

There is an old saying that the trend is your friend. But it is important that you must catch a move earlier. When you enter a trend a bit late, then there is no point hanging on to a losing trade. Also, it would be dangerous to your capital, if you shift your stop-loss hoping that the market would come back in your favor. This could […]

What Is Multiple Timeframe Analysis in Forex?

In this video, you will learn about multiple timeframe analysis in forex trading. Multiple timeframe analysis helps you to identify the market direction by comparing higher and lower timeframes for a currency pair. Instead of entering on a higher timeframe, you can use a smaller timeframe to take a trade, to minimize risk, and use a smaller stop-loss. You can use timeframes like the 15-min, 1-hour, 4-hour, and the daily. You can use the larger timeframe […]

Fatal Mistakes of System Hopping: Risks and Consequences

In this video, you will understand what system hopping is. Those who are new to forex trading, use a trading system using a demo account, without fully understanding it. They are happy as long as they make profits. But when they make a loss, they regret the system, and go for another one. They keep doing this for a long time searching for a holy grail. For example, consider a moving […]

Paper Trading — Practice and Learn Trading Free

In this video, you will learn about demo account in forex trading. You can also call it paper trading, as you can note down every trade you take and their results. You don't have to lose any money, if your trades fail. Most online brokers offer demo accounts and also give for free, the MetaTrader platform. You can place trades, add an indicator or several […]

The Danger of Listening to Strangers

In this video, you will learn about the danger of listening to strangers in forex trading. Traders attempt to take advice when things go wrong with their trades. They go to discussion forums, chat rooms and look for advice. But this could lead to more losses as they might take advice from someone who may not be experienced in trading at all. You are responsible for your losses in forex […]

Are More Indicators Better in Forex Trading?

This video is about using multiple indicators in forex trading. Is more indicator better in forex trading? The answer is no. Unfortunately, many traders around the world just search for new indicators. You may see advertisements about selling a lot of indicators for cheap price. People do buy them. But you don't need a lot of indicators for making money. Some traders want to make things complicated […]

What Is Overtrading? — Consequences and Solutions

In this video, you will learn about over trading in forex. This is a mistake most beginner traders do. They could be driven by greed, believing they could get rich quick in a short time. They make mistakes and to overcome the losses, they start putting trades randomly. This could wipe out the entire trading account. So, you must not indulge in over trading. You must […]

Fatal Mistakes of Using Too Much Leverage

Most beginner traders think forex as a get rich quick scheme. So, they try to over leverage their trades and end up blowing their account. So, you must follow money management for all your trades. You can follow the 2% rule. You must use stop-loss for every trade. For example, as you can see on the EUR/USD chart, this is a head and shoulders pattern. There are two […]

How Does Head and Shoulders Pattern Work?

In this video, you will learn how to identify and trade using the head and shoulders pattern. This is a bearish reversal pattern. You locate this pattern at the top of an uptrend. It is characterized by a left shoulder, head, right shoulder, and a neckline, which acts as support. Once you have identified this pattern, one way to trade this pattern is to wait for the price to break below the neckline. Now, you can […]