Questions: to start with MetaTrader and forex - page 80
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Major Components of Forex Trading Strategy
Before, the forex market was limited only to long-term investors, banks and people who have greater capitals. The trading occurs via an agent or voice broker who will inform clients on what is going on. Later on, it was been replaced by a computerized automated systems. This was the early form of forex trading strategy.
The trader which is either home-based or office-based or retail investor can possibly trade on real time with different banks with an aid of a broker. The broker then uses the computerized platforms of trading. It contains traders on live desks which places the trades on the broker’s books or on real investors. However, when the trade was placed in the broker’s book, 95% of the money will be lost by the traders. So the brokers take this is an advantage on them.
Forex trading strategy comprises two major components. The first component is technical analysis. The technical area is based from the charts. It uses a mathematical formula to observe the market movements. The traders learn about announcements and news on economics which influences forex markets. Its fundamental side is helpful in proper identification of the do’s and don’ts.
Technical analysis uses chart indicators. It is helpful in determining the areas of resistance and support. The situation where the price reverses, stop or get stuck are revealed. The method that is very accurate and popular in calculations of the levels of resistance and support is the Fibonacci. Seven hundred fifty years ago, Fibonacci discovered a sequential number form. Its proportions are also found in nature such as sunflower seeds, and pineapple rinds. This method is commonly learned in mathematics during your high school days, called as Fibonacci sequence. It says about finding the next number given with a series of numbers.
If Fibonacci numbers are put adjacent to each other, the percentage ratios are obtained. It can then be plotted on the chart. However, you don’t need to become a math wizard just to do this. The charting forex software is able to do the Fibonacci sequence for you. The key areas of resistance and support are potentially revealed to you as you move along the charts. The Fibonacci sequence combined with proper indicators can show the strength and momentum of the latest market condition. It will help you create a strategy that will be most profitable to you just by basing on this mathematical rule. The rules clearly states that history can really be repeated, as what has happened before in the forex market can still happen in the future.
The second component is the fundamental analysis. Each day, there are figures being disseminated to reveal some economic circumstances of a particular country. Take for example, non-farm payrolls that can possibly bring unpredictable effect on the forex markets. The impacts will depend on the previous data and the figures implications. The most important rule for beginners even for veterans is to keep away from the market when important announcements take place.
Forex trading profits are being made almost similar to a traditional business. The procedure is very simple. You are going to buy something at a lower price then sell it at higher prices. The only difference is that in forex trading this can be reversible.
The process is very easy. A trade is being placed either in the sell or buy categories. Then the base currency will automatically buy or sell its opposite currency in pairs. The price will lively change every second. Take for instance; you purchased the GBP/USD pair. It literally means that you have purchased the pound currency and sold the dollar currency. You want a rise on the pound’s value which will later on have a higher price when you resell it in the forex market. That would make a profit on the value difference.
If the brokers allow you to have 200:1 capital leverage, then you can possibly control a lot of money than what you really have. It is because you have bought one currency and sold the other. So, your capital can stay unmoved. The only crucial part which should be considered are the proportions which can be either gained or lost whenever changes in currency pair values occurs. Other than that, the basic forex trading strategies are great.
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Seems you confused the "how to start with metatrader" with "how to start to spamm all around"
MT4 couple days ago someone asked how I think, and I do not know that answer.
Platform IBFX when going through some old posts, I have a solution. If you pressed F12, then wax and Shift-F12 back in action on the diagram.
I hope this helps members seeking answers.
Best of luck.
MT4 couple days ago someone asked how I think, and I do not know that answer.
Platform IBFX when going through some old posts, I have a solution. If you pressed F12, then wax and Shift-F12 back in action on the diagram.
I hope this helps members seeking answers.
Best of luck.F12 in metatrader is for "step by step" (whatever it means - it moves the chart right one bar and nothing else)
I will also suggest you to use meta trader 4. Because it will give you good speed which you will not get meta trader 5. The only thing you will able to do with meta trader 5 that you will be able to connect with different server in one meta trader platform. You will get a lot of lesson in meta trader 4 but you will not get in 5. As you are beginner I think everyone will suggest you to use meta trader 4.
Before practicing about how to trade (MetaTrader,etc.), Basically, maybe it's better to learn first the what's, why's and facts about Foreign Exchange and the Market as a whole.
Nice Nigel99. Very useful. Especilly for those that have a scalping EA. But remember not to educe it below 100 candle sticks as many EA's have as Default trading 100 bars or more. If you drop below this number the EA won't start
What EA are you talking about? Ichimoku? I tried this in my Hotforex MT4, set 130 pips and it worked well. What is your detailed scalping setup?
I tried Swiss Bot, it gives stable results.