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Learn to Trade Forex - 20 — MT5 Indicators & Templates

The combination of information and functionality enables you to decide and trade. You can create profiles for each market, instrument, and strategy. A profile contains all the chart information. You can save your profile in the form a template. When you save a template on a chart, it saves all the indicators, objects, background setting of a chart, and expert advisors. You can also include Gann, Fibonacci, and Elliott tools as part of your template.

Learn to Trade Forex - 19 — MT5 Charting & Technical Tools

You can find the chart settings for the platform in the options menu. You can choose various timeframes for your analysis and strategy. You can add or remove analytical objects, chart type, and trade from the chart itself. An analytical tool differs from a technical indicator. An example is the Fibonacci retracement tool. You have to manually draw the retracement level by identifying the swing low and the swing high. By using the one click trading feature, […]

Learn to Trade Forex - 17 — Introduction to MT5

It is very easy to customize your trading interface to your preferences and the it offers you flexibility in its usage. For example, you can customize your trading environment is by clicking view, and select information you want to display when you trade. You can save your preferences such as chart type, timeframes, different markets, and time zones. You have built-in tools for technical and fundamental analysis. You […]

Learn to Trade Forex - 18 — MT5 and Expert Advisors

The expert advisor is an add-on found on your MetaTrader platform. It automatically executes your trades based on algorithms and indicators. It differs from custom indicators. By using expert advisors, you can trade based on strategies, and eliminate emotions. They execute trades faster than manual trading. You can create your own expert advisor or buy them. You should test it before purchasing an expert advisor. […]

Learn to Trade Forex – 16 — Measuring Risk — Part 2

Managing risk in trading has many different aspects. A good trading plan helps you to identify how much risk to accept in total and how much to take on any given trade. Overall profitability is not only determined by choosing winning trades. Your winning trades should run longer than your losing trades on average. Your take-profit should be greater than your losses. You should aim […]

Learn to Trade Forex – 15 — Measuring Risk — Part 1

There is a saying, the chance favors the prepared mind. Hence, you must balance opportunity with risk management. A way to measure risk to decide the trade size. You can maximize your chances of winning by combining both fundamental and technical analysis. In ranging situations, you should aim for a risk to reward ratio of 1:2. In trending situations, you should aim for a risk to reward ratio of at least 1:3. Also, you should be […]

Learn to Trade Forex – 14 — Introduction to Risk Management

When you invest money in the financial markets, there is no guarantee that you will only make money. You may also make some losses. Hence, there is risk involved. So, risk management is the key in success to trading. Risk management involves identification, analysis, and prioritization of each trade. Some assets are affected by interest rate or exchange rate. Also, political events influence the markets. […]

Learn to Trade Forex – 12 — Introduction to Fundamental Analysis

The fundamental analysis looks at the economy of a country and helps you gauge the strength of a currency. If the economy is doing good, then the currency will appreciate in value. Then the technical analysis helps you to identify high probable low risk trading opportunities by using chart analysis and price action. For example, if you think the value of the euro will appreciate against the US dollar, then you will take a long position in the EUR/USD […]

Learn to Trade Forex – 11 — Trends

Technical analysis is based on the premise that you can predict the future price by looking at the past data. You can hear from the traders saying that the market is in an uptrend or a downtrend. However, observing trends is subjective. You can analyze trends from various timeframes. Intraday traders use smaller timeframe like the 1-hour for observing trends. For swing traders, they use the daily, and the weekly chart. The scalpers use […]

Learn to Trade Forex – 13 — Fundamental Trading Strategies

Fundamental analysis helps you find the strength of a currency. You have an idea that whether it would appreciate in value or not. Technical analysis helps you to find suitable trading opportunities and to reduce risk. A strategy involving fundamental analysis is to look at the macroeconomic data such as interest rates, GDP, etc. Another strategy is called as carry trade, where a trader buys a currency with higher interest rate, and sells […]