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Learn to Trade Forex – 23 — Advanced Trader: Trading Interface

The trading interface supports three different methods to open a position. They are trading box, placing order, and trade directly from the chart. The trading box is the preferred way to place spot trades. You can specify your lot size and the trade gets executed immediately at market price. When you want to place an order quickly. you right click the order list to open the order window. Specify the trade size […]

Learn to Trade Forex – 24 — What Is leverage?

Leverage can be compared to the tip of a crowbar, which is used to shift large weight by moving the other end of the crowbar. The tip of the crowbar can be compared to margin. Your profit or loss can be amplified using margin. For example, when you trade using 1:1 leverage, and you have made a gain of 100 pips, your profit is just 1 USD, if you have bought 1000 euros. […]

Learn to Trade Forex – 22 — Advanced Trader: Charting & Indicators

You can explore trade ideas by using the built-in tools, technical indicators, and candlestick patterns. You can use the upper toolbar to define the chart settings, add indicators, create alerts, etc. You can use the lower toolbar to save your chart settings, export, and print the chart. You can add an indicator right on the chart by clicking on it. You can use indicators like Bollinger Bands, MACD, RSI, etc. […]

Learn to Trade Forex – 21 — Introduction to Advanced Trader

The Advanced Trader is a trading platform suitable for both beginners and advanced traders. It comes with a single screen interface, which provides you with all the details clearly. You can place orders from your charts directly. You can view about the open trades, trade log, etc. below the chart window. The trading platform supports reports and account statement. You can place both market orders […]

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 […]

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