Trading With WATL – MT4 Trend Line Indicator

eurusdh4

Vast majority of traders forget about importance of trendline nowadays. They keep searching for a Holy Grail in Forex robots and expert advisors, usually ending up dealing with a no-win situation. If you are a professional trader I believe you will get my point straight away. Trendlines are unavoidable component of each technical analysis. Therefore, it is quite tricky to avoid using them. Good performance of all the tools is conditioned with correct utility and it is not ... Continue reading

How To Draw Fibonacci Retracement And Extension Levels

fibonacci-extension

There are tens of Fibonacci indicator utility methods to trade at the stock market with. This post is not up and down the Fibonacci, but about the genuine, core, original method Fibonacci levels are drawn after. Number of traders does not know how to correctly use Fibonacci tool as they can’t make difference between Fibonacci retracement and Fibonacci extensions levels. Not nice to hear as this method is found in the very foundations of technical analysis itself. How To ... Continue reading

Leonardo Fibonacci Italian Mathematician

Leonardo Fibonacci

As a great fan of technical analysis, I use Fibonacci indicators a lot. Even if you are a Forex beginner, you must have heard of Fibonacci by now. Let me introduce you to creator of Fibonacci numbers. Leonardo Pisano Bigollo, planetary popular as Fibonacci, lived between c. 1170 – c. 1250. Born in Italy, Fibonacci is one of the greatest mathematicians in history of human kind. Many agree about the fact he is the most talented western mathematician of the Middle Ages. How ... Continue reading

Custom KorDynamicFibonacci Indicator

KorDynamicFibonacci

In case you are familiar with Fibonacci trading method, and you fancy technical analysis at the same time, than you'll love this indicator as well. I warmly suggest this one to the beginners due to its simplicity and automated drawing of Fibonacci levels. Thanks to Leonardo Fibonacci we get great trading tool. Beginners normally have quite heavy troubles with Fibonacci indicators (tool) embedded within their platform. Standard Fibonacci indicator, that comes as default on ... Continue reading

This Article Is Based On A True Story About Day Trader, Scalper And Position Trader

Trade With Style

This is not yet another article to entertain you for couple of minutes and plant an idea inside your brain that you're going to forget about by the bedtime. I am about to tell you a story, a true story about three traders. Three traders who traded with three different trading styles – day trading, scalping, and position trading. You are about to hear a story of myself and how I went through three different trading periods, financially and emotionally. If you look close ... Continue reading

Confirmation Candle is The Only Right Way To Open Position

Trendline Confirmation Candle

This is a problem I often dealt with as a starter. While I was reading through forums, I have noticed that most of the starters, including myself back then, have troubles with opening position properly. Most of the strategies alert you once the price hits the spot for opening a position. With an indicator it’s the same story. You get the alert but you still don’t know when exactly the right moment is?! Price reaches the spot where you are supposed to open position, but after ... Continue reading

Trader vs Trader – You Are Alone Against The Rest Of The Market

Open position with right stop loss level to max profit

You remember the 2Pac's song – Me Against the World – title of famous rapper's song, who tragically lost his life, sometimes reminds me of how each of us trader are sort of warriors standing against the rest of the trading world. If you and your colleague have opened sell position today, you might be at different sides the very next day – one in a long, another in a short trend. Your end doesn't necessarily have to be tragic. About a month ago I talked with a friend of ... Continue reading

Few Things You Should Know About BBANDS Indicator Before You Use It Next Time

Bollinger Band BBANDS

This article is all about the standard versions of Bollinger band (BBANDS), its custom versions and the dangerous you’ll meet trading with this indicator. This Forex indicator used to be really popular in mid-80s when stock market was highly liquid for most of the indicators worked flawlessly back then. Today, the story goes in a slightly opposite direction – trading with BBANDS is next-to-impossible mission, especially on Forex. Surprised? Don’t be, hear what I’ve got to ... Continue reading

Part 5: Don’t Pick Your Trading Style Randomly, Let Your Character Hit the Bull’s Eye!

Nervous Forex trader

Introduction to Trading Styles You have most-likely already tried to find a trading style that would fit your needs the best. This is where your individual character plays an important role. It is also a spot where so many people make a wrong step. Read on not to fall in the same trap. Different trade styles are applied to different characters. It would be impossible for a non-patient and hyperactive individual to become a successful swing trader, or for a melancholic and ... Continue reading

Don’t Fall in Trap and Lose Money, Not all the Indicators on Internet Are Profitable as They Claim!

Forex money

You have had half a dozen chances to notice how all the indicators, and all the Forex strategies that can be found online are – profitable. Of course they are! Who the heck would upload a Forex indicator and write a post around it telling you how badly it sucks and how they lost half of their monthly income before they actually realized it's a trash-worthy Forex tool. You will stumble upon hundreds of indicators being sold in blogs, websites, and forums along with their ... Continue reading