Author: rcanessa - Page 32

Trading Strategy with Supports, Resistances and Stochastic

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.

Tigerwit Forex Broker – Complete Review

by rcanessa

Tigerwit broker update We currently consider that there are better options for Forex traders than the broker Tigerwit to start a career in the financial markets. There are many Forex brokers that have better regulation, access to more markets, more trading platforms and offer additional services including educational resources and analysis tools. You can access a complete list of brokers … Read more

ATFX Forex Broker – Complete Review

by rcanessa

ATFX – Broker Review

ATFX is a Forex and CFD broker from the United Kingdom which was founded in 2016 and whose headquarters are located in London. The specific address is 1st Floor, 32 Cornhill, London EC3V 3SG, United Kingdom. Also, it has customer service offices located in other countries. The clients of this broker can trade with a large number of assets, including Forex and CFD, through a single trading platform.

ATFX is an ECN/STP type broker, which uses the most recent routing and execution technologies to obtain the best quotes from its liquidity providers, which allows its clients to trade with variable and quite low spreads and with the best quotes from the market. Through the STP execution model, the broker can cooperate with all liquidity providers to establish the most competitive Bid and Ask prices for customers.

Trading Using the Simple but Effective Rule of 2 Candles

by rcanessa

This trading technique that can be found for free on forums and websites like this has the advantage of requiring no more than a few minutes a day so it is perfect for traders with many occupations and with no time to see charts and analyze the market all day. Furthermore, the procedure of The rule of the two candles is not complicated and can be learned very quickly.

Basically, this strategy is based in the identification of an “Inside Bar” as shown in the following image:

Wolfe Waves Indicator for Metatrader 4

by rcanessa

In this article, we present a modified indicator for Metatrader 4 that shows Wolfe wave patterns in price charts and in any time frame. This tool can be very useful since it automatically identifies these price formations and saves the time and work it takes to be watching many price charts for hours looking for these and other patterns.

As every experienced trader knows, the biggest problem with price patterns, especially with advanced ones such as Wolfe waves, is the identification of these formations in the chart. This task not only requires skill and experience to visually find these patterns, but also the trader has to spend hours in front of the computer, without any guarantee that he will find a good opportunity. In addition, only rarely is it possible to observe these patterns in their ideal form, they almost always present with some small variations that further complicate the identification.

Therefore, resources such as this custom indicator are very useful as they significantly facilitate the work of the trader.

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