Author: rcanessa - Page 30

ZUP Harmonic Pattern Indicator for MT4

In this article, we will present a modified indicator for Metatrader 4 designed to show harmonic price patterns in any price chart and in any time frame. It is not an official MT4 indicator.

Harmonic price patterns elevate geometric price formations to the next level through the use of Fibonacci numbers to define precise market inflection points. Unlike other trading methods used to trade in Forex and other markets, harmonic trading attempts to predict future price movements.

Harmonic trading can be defined as a trading methodology based on the recognition of specific price patterns and the alignment of exact Fibonacci ratios to find possible high probability trend change levels in the markets. This approach assumes that the patterns or cycles in markets, such as many patterns and cycles in life, tend to be repeated on a regular basis.

What is a limit order in Forex trading?

by rcanessa

What a limit order?

A limit order can be defined as a trading order given to the broker or dealer to buy or sell an asset at the specified price or better.

As a limit order is executed only at the specified price or better, a limit buy order will be executed only at the specified price or at a lower price, while a limit sell order will be executed only at the specified price or at a higher price. In both cases, a limit order is only executed if the market price reaches the limit price (price specified in the limit order) or passes it, which means that a limit buy order is accepted only if the limit price is less than the current market price and will be executed if the price falls to the limit price or to a lower price. A limit sell order will be accepted only if the specified limit price is higher than the current market price and will be executed only if the market price goes up to that limit price or up to a higher price.

XTB Opinions – Is XTB a reliable broker?

by rcanessa

The opinions and comments that can be seen in Internet forums and communities have become a good instrument to value any product or service. The world of online trading is no stranger to this.

One of the most important factors when trading is choosing a reliable broker that offers good service and where our money is safe. In this article, we will analyze in-depth the opinions of clients of the broker XTB, one of the main Forex and CFD brokers worldwide.

All the data you can see in this article is based on our own experience and the collection of positive and negative opinions of XTB users that we have found in various investment forums, blogs, and specialized websites.

The ConnorsRSI Indicator – Calculation and Strategy

by rcanessa

Before analyzing this technical tool in detail, I have to clarify that this indicator developed by Larry Connors is not exactly the same as that used in the RSI2 strategy (a simple 2-period RSI), although the strategy that we will see throughout the article has some similarity, although with some additional twist. But let’s not entertain ourselves, let’s start with the preliminaries: what is the ConnorsRSI?

The ConnorsRSI Formula

The ConnorsRSI indicator formula consists of 3 elements:

1-) An RSI of 3 periods, in order to measure the momentum of the price in the short term.

ICMarkets Tutorial – How to open an account and deposit funds?

by rcanessa

Summary: Tutorial for beginners of the Forex and CFD broker ICMarkets of Australia, where we explain how to open a trading account and deposit funds with this company. ICMarkets is one of the best brokers to trade in Forex through different trading platforms and is currently one of the brokers that offer the lowest spreads and commissions to its clients. … Read more

Reversal trading system based on Keltner channels and Bollinger Bands

by rcanessa

The trading system that we will explain below is based solely on two indicators, the Keltner channels, and the Bollinger Bands, which are actually quite similar. It is a price reversal system that tries to find the price inversion points.

Therefore, it works best in range markets where extreme value readings of indicators such as Bollinger Bands produce more reliable results. In trending markets where it is more difficult to predict maximum or minimum extreme values, their signals have less reliability.

Since this system uses two well-known and commonly used indicators found in any technical analysis package, it can be used in any trading platform.

HF Markets Tutorial for Beginners – Accounts and Spreads

by rcanessa

Full tutorial on the HF Markets broker, learn how to use the HFM online broker, here you will find all the information to start trading in seconds.

Today we are going to talk about one of the best-known online brokers to trade mostly in Forex where we can find some of the most competitive spreads in the market, in addition to an effective, fast, and most important FREE support in multiple languages. In HF Markets we will be able to contact an agent to ask and answer any questions.

HF Markets (formerly known as HotForex) has several subsidiary companies located in different countries, which allows it to provide services to customers around the world. For example, there is HF Markets SA (PTY) located in South Africa, HF Markets (SV) Ltd located in Saint Vincent and the Grenadines, and HF Markets Ltd located in the Republic of Mauritius. In Europe, it is listed as HF Markets (Europe) Ltd. which responds to the following identification number 277582 and, like most of the online brokers operating within Europe, it is located in Cyprus exactly in the city of Larnaca.

What is the stop hunting?

by rcanessa

Stop hunting is called the practice that consists in forcing the positions of retail traders, causing a movement in the price action, up or down, until the price reaches the levels where stop-loss orders have been placed. This leads to stop losses being executed in such a way that retail traders are expelled from the market while another investor benefits from it. It is a strategy used mainly by large financial institutions that have enough capital to buy and sell and influence market prices.

The fact that traders place their stop loss levels at key points such as supports or resistances, relevant moving averages, Fibonacci levels, or integer figures, allow the stop hunting to be carried out.

In other words, the large market participants extend the price considerably with the sole purpose of activating the automatic protection closures (Stop Loss Orders) of retail traders.

Exotic Financial Options

by rcanessa

What are exotic options?

The OTC markets (Over The Counter) are a constant source of financial innovations that are trying to adapt the characteristics of the different instruments to the specific needs of hedge of different economic agents such as traders. In the case of financial options, one of the most interesting innovations that have emerged in recent years is the exotic type, which can be subdivided into four types:

Compound options or options on options.
Options with dependent value on the historical evolution of the underlying asset (path-dependents).
Conditional Options.
Options based on several underlying assets.

Risk Free trading – dealCancellation of EasyMarkets

by rcanessa

The Forex and CFD broker EasyMarkets (regulated by ASIC and CySEC) now offers a new tool called dealCancellation, which allows its clients to carry out risk-free trades. With this resource, the client can cancel his losing transactions up to a maximum of 60 minutes from the moment the position is opened. In other words, with dealCancellation it is possible to cancel a losing trade that was opened in a period of less than one hour and get back any loss incurred.

The dealCancellation tool can be applied under the following conditions:

When the trader feels insecure about market conditions and considers the result of his trades to be uncertain.
During major market events, such as the publication of important economic indicators or announcements such as Non-Farm Payrolls, where the market presents excellent opportunities to obtain great benefits but the level of risk is also very high.
During periods in which the market has higher levels of volatility than normal, in which it is more difficult to predict the behavior of prices, and risks are higher.
When the trader performs transactions in which he is trading with higher volumes than normal. In these transactions, a trader can apply dealCancellation to limit the risk and avoid large losses in case the market moves against his position and at the same time have the opportunity to obtain higher profits with high volume trades.

– Period of validity of the promotion: This promotion has no deadline as it is an active service of the broker EasyMarkets for all its customers.

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