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The Falling Wedge:The falling wedge pattern is characterized by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When you find this pattern in a downtrend it is considered a reversal pattern as the contraction of the range indicates the downtrend is loosing steam. The Rising Wedge:
The rising wedge pattern is characterized by a chart pattern which forms when the market makes higher highs and higher lows with a contracting range. When you find this pattern in an uptrend it is considered a reversal pattern as the contraction of the range indicates that the uptrend is loosing steam.
Forum on trading, automated trading systems and testing trading strategies
Discover everything about the MetaTrader 5 mobile applications in 2 minutes
MetaQuotes Software Corp., 2016.11.02 09:34
Watch two new videos about MetaTrader 5 mobile platforms on our YouTube channel. The videos will guide you through the MetaTrader 5 for iOS and Android in just 2 minutes.
The MetaTrader 5 mobile platforms feature everything you need for successful trading on the Forex market and global exchanges: full-fledged technical analysis, powerful trading system with all types of orders and the depth of market. We actively develop our applications releasing new builds regularly. After watching our videos, you will learn about all MetaTrader 5 mobile features, including the latest innovations. These videos are the ultimate visual guides for the MetaTrader 5 applications presenting everything you wanted to know but were too afraid to read in the Release Notes.
Did you like the videos? Visit our official MetaQuotes Software YouTube channel to find more videos about the MetaTrader 5 platform and its built-in
services. The channel already has 40 tutorial videos organized into playlists for your convenience.
Visit MetaQuotes Software YouTube Channel
Anther key thing that it is important to understand here is that the
larger a firm gets in terms of trading volume, the greater access that
firm has to tighter prices and liquidity and the more likely that firm
is to be able to pass on better pricing and execution to their clients.
This video provides an introduction to electronic communications
networks (ECNs), systems that allow buyers and sellers of stocks to
trade directly without an intermediary.
Most forex traders
participate in the forex market with forex brokers. There are mainly two
types of forex brokers: market makers and electronic communications
networks (ECNs). In this article we want to introduce the latter type of
brokers, the ecn forex broker.
What is an ECN forex broker?
ECN forex broker is a financial expert that provides the clients with
direct access to other forex participants in the currency market by
using electronic communications networks (ECNs). Unlike market makers,
which always trade against their clients to make profit, an ECN forex
broker only creates opportunities of trading between forex traders.
How does an ECN forex broker work?
forex brokers provide a medium by passing on the prices for different
market participants such as banks, market makers and other traders in
the market. Then the best bid/ask quotes will be displayed on the
trading platforms based on these prices. ECN forex brokers also serve as
counterparties to forex transactions, but it is a settlement that they
operate on instead of pricing basis. While fixed spreads are offered by
some market makers, spreads of currency pairs can be very different,
determined by the trading activities of the currency pair. In active
trading periods, sometimes you cannot get ECN spread at all, especially
in those very liquid currency pairs such as the majors (EUR/USD,
GBP/USD, USD/JPY, USD/CHF) and some currency crosses.
Pros and cons of the ECN forex broker
The ECN forex broker has both advantages and disadvantages. The pros and cons of the ECN forex broker are as follows.
The pros of the ECN forex broker can be presented in following aspects.
Traders can usually get better bid/ask prices for they are derived from multiple sources.
At certain time traders may trade on prices with no spread or with only very little spread.
Genuine ECN forex broker will pass on the orders to a bank or other
trading participants on the opposite side of the transaction instead of
trading against the traders.
It is very likely that the prices on the ECN forex broker are more volatile.
Traders can take on the role of market traders to other traders on the ECNs since they can offer a price between bid and ask.
The cons of the ECN forex broker can be presented in following aspects.
Many ECN forex brokers do not provide integrated charting or new feeds.
Some trading platforms are not so easy for traders to use or operate.
Since there are variable spreads between the bid and the ask prices, it
may be difficult to calculate stop-loss and breakeven points in pips in
Forex traders are obligated to pay commissions for each transaction.
It is obvious that there are both pros and cons of an ECN forex broker.
Traders have to take many factors into consideration when choosing a
Learn how to sort through the chaos and confusion on the web to learn
what forex brokers are best for individual currency traders.
What forex traders need to consider regarding the regulatory environment of the forex broker they trade with.
A look at the transaction costs involved in forex trading (the bid ask
spread, commissions, and how trades are executed) so that FX traders can
properly understand how much their currency broker is charging them.
A look at the technical and value-added features (like news, charts,
ability to trade from the web, etc) that currency traders should
consider when choosing what forex broker they select.
Forex Broker Types - MM,NDD,STP,ECN
This is small 10 minute education video about the following: the difference between Forex Broker Types - MM,NDD,STP,ECN