Author: rcanessa - Page 31

Custom Pin Bar Indicator for Metatrader 4

The Pin bars are candlesticks or patterns composed of a single candle that can be formed in any market and time frame, both short and long term. When these candlesticks appear they offer price action signals as trend change patterns that indicate that there is a possibility that the price direction changes, at least temporarily. Of course, like any candlestick … Read more

Channel breakout system with retracement for Forex

by rcanessa

This trading system was primarily designed to trade in extended time frames (4 hours later). It is based upon the breakout of a dynamic price channel which is calculated through the highs and highs of the price bars. In this sense, the strategy seeks to enter the market after two events occur:

The bullish or bearish breakout of the price channel.
A retracement movement of the price after the channel breakout. After this setback, the trader must open a position in the same direction as the breakout.

Alpari Broker Review 2022 – Detailed Analysis on Alpari

by rcanessa

Alpari – ECN/STP broker from Europe specialized in Forex and CFD -Tight spreads and low commissions Visit Broker Website Alpari – Forex Broker Review Alpari is one of the best and most famous brokers in the Forex industry due to the variety of trading services that offers to clients around the world. Also, it is a regulated broker that operates … Read more

How to use stop loss orders? – Definition and main uses

by rcanessa

The stop loss is a trading order placed in the broker to sell or buy a currency pair (or any other asset in a financial market) conditioned on the price reaching a certain value. It is mainly used to close an open transaction in case the price direction turns against it, hence its name. For example, if we have a buy position in the EUR/USD and put a stop loss at 50 pips below the entry price, our possible losses in case the price falls will be limited to 50 points (see how to calculate the value of a pip).

Trading Strategy with Supports, Resistances and Stochastic

by rcanessa

In this article, we present a trading strategy developed and kindly provided by a collaborator named Erick Diaz Guerra.

This strategy uses an automatic indicator of supports and resistances; and as a filter, the standard stochastic oscillator of MetaTrader 4, a known technical indicator used in many trading systems. The strategy is based mainly on the likely price rebounds made in the supports and resistances. The stochastic serves to confirm the rebound movement. The approach seems simple and interesting at the same time, though I have not tried the strategy, however, I am planning to include it in the list of systems awaiting assessment. According to its author, the strategy has performed well in the backtesting and in a demo account, so he has decided to use the system with a real account.

Now let’s see a complete description of the strategy.

Main Economic Indicators for the Economy of Europe and the Euro (EUR)

by rcanessa

The fundamental indicators shown below are of high importance for the euro, however, since the EMU (Economic and Monetary Union, the countries within the European Union which share a common market and a single currency, the euro) is composed of 17 countries, it is essential to be aware of major political and economic events of the member countries, such as changes in GDP, unemployment, and inflation. The major economies of the EMU are Germany, France, and Italy, for which, in addition to general economic data from the EMU, economic information from these three countries have the most relevance for the euro.

XM Broker 10th Anniversary Promotion – $1 Million in prizes

by rcanessa

The online Forex broker XM (a company regulated by organizations such as CySEC of Europe) is offering a new promotion for all its clients in celebration of its tenth anniversary. This promotion, which will run from November 2019 to August 2020, allows its participants to obtain different prizes that will be described later. Each month, XM will award $80,000 in prizes that will be distributed among 50 winning traders (the conditions for obtaining the prizes will be indicated below). Besides, at the end of the promotion, there will be a Final Draw where the company offers a prize pool of $200,000 that will be distributed among 10 winners.

This 2019 marks the 10th anniversary of XM, one of the largest Forex brokers for retail traders today. To commemorate this event, the company is inviting its customers, both new and existing, to celebrate XM’s corporate anniversary through this 10-month promotion, where $ 1,000,000 will be distributed among 500 winning traders.

New Ultra Low Account of XM Broker

by rcanessa

The online Forex broker XM (regulated by CySEC and ASIC) has recently introduced a new type of trading account, the XM Ultra Low Account, which is characterized by offering very low spreads from 0 pips. Instead of higher spreads, as you can find in the Micro or Standard accounts, the XM Ultra Low account offers the lowest spreads in exchange for a commission of $5 for every $100,000 traded that the broker deducts from your account during the opening and closing of the transaction. Depending on your trading strategy, you can take advantage of these adjusted spreads of this new account to a greater or lesser extent.

With this XM account with low spreads you can trade with 56 currency pairs and spot gold and silver. We summarize the main advantages and features below.

You can get more information about the XM broker and its brokerage services in the following guide: Review of the XM broker

Main Types of Trading Systems

by rcanessa

Introduction

We have already talked in other articles about the natural evolution of the Trader, from the beginning of his career in the markets until he obtains the knowledge and skills necessary to develop his own profitable Trading System, and now we are going to focus on the different types of trading systems that exist. Any person interested in the markets and trade successfully through a system is going to find a multitude of systems and methodologies of various types and characteristics, therefore we will present a classification as objective and simple as possible that allows the reader to know the main categories of trading systems that can be used.

The objective is merely didactic without offering any direct recommendation on a specific system, although the following information does offer advice on certain general aspects, especially when it comes to guiding the trader in the future development of systems. There are thousands of trading systems developed for all types of market conditions, and the best system is the one that each trader designs according to the strategy that gives the best results and makes him feel more comfortable. Do not expect to become a millionaire with the system that someone has sold you. Develop your own trading rules.

Differences between a bull market and a bear market

by rcanessa

When we begin to analyze financial markets, the first thing to be clear about is that prices basically move in two trends. On the one hand we have the bull markets and on the other hand the bear markets. Each type of market offers specific characteristics and requires a different way of trading. In this article we will analyze this.

In fact, trading in bull markets is usually the most common, but there are also those who use the bear markets to find the best opportunities. Markets in general are very volatile and quite irregular. So much that it often seems complicated to predict the fluctuations of the assets that are listed on financial markets.

Next we will analyze both types of markets to distinguish the characteristics that each one has and check which market can best adapt to us, according to our investor profile. Pay attention to the following and you can choose with criteria which market is best for you to get a better return on your capital.

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