And this kind of planning is only possible if you know exactly what kind of data to be on the lookout for, and about the tools which are available aid in your analysis. The complexities of big data in the age of seamless digital communication are such that it would be impossible to summarise every possible metric or analytical approach accessible to the retail trader in the space available.
What is possible, however, is an overview of the main planks of data analysis a trader needs to bear in mind, and a look at a few of the types of tool which can make that analysis easier and more accurate. When a trader buys and sells shares the analysis required is focused, in the main, on the good health of otherwise of the company in question, and whether the various indicators predict that the shares are likely to rise or fall in value.
Wider market conditions have an impact as well, of course, but these conditions would be the same for any stock being traded, which places the emphasis firmly on the choice of stock. Where forex trading is concerned, however, the fundamental issue is always going to be the relative strength and weakness of a pair of currencies. Looking ahead in an effort to take advantage of shifts in value means analysing macro-economic figures such as interest rates, unemployment rates and GDP gross domestic product.
Requiring more vigilance to spot, on the other hand, are the sudden shifts which might be triggered by an event such as a comment in a ministerial press conference which is assumed to increase the chances of a no-deal Brexit and so sends the value of the pound dropping. Fundamental analysis based on one-off events of this kind requires a close attention to detail, up to the minute or even second access to newsfeeds and the willingness to take up positions instantly.
Technical analysis is based not on real world events beyond the confines of the currency exchanges, but on in-depth analysis of the way in which the price of currencies has moved in the past. By focusing on charts of price movements and analysing them with a variety of tools — both manual and automatic — a trader can identify patterns which have repeated in the past and can be expected to repeat again in the future.
A further method of analyzing the forex markets is by watching out for larger than usual shifts in the number of traders investing in a particular currency. As soon as a large number of traders invest in a particular currency, the future pool of people who might opt to sell that currency expands, with the result that the potential value of that currency is impacted upon.
Analyzing market movements could be referred to as depending upon the wisdom of crowds. As has been shown in the past, that wisdom can often be mistaken. A stampede to buy or sell a specific currency could be triggered by knowledge of where the value of that currency is heading, but it could also be caused by a simple self-fulfilling prophecy — sometimes, if enough traders take a position, enough other traders assume there must be a good reason for doing so and follow suit, creating a pattern which feeds off itself with little or no external justification.
The deluge of data which is available, however, particularly where technical analysis is concerned, means that the wiser trader will make use of some of the tools which are available:. One of the key attractions of forex trading is the fact that the currency markets are open somewhere in the world 24 hours a day throughout the week.
The fact that different markets are open at different times of the day means that the sessions within those markets are likely to have different impacts on the pairs of currencies which a trader is working with. A session highlighter tool can be used to divide a traders charts into these various sessions, and then to highlight any movement that occurs over set periods, such as a minute, a specific number of minutes or an hour. A volatility tool will show a trader how much, and in what way, a pair of currencies has moved on an hourly basis during a period such as the last thirty days.
This enables the trader to build up a fuller picture of the way the currency pair behaves, and note any patterns such as recurring movements on specific days or at a specific time of the day. If the global trend is up, then a long position is opened, and if it is down, then a short position is opened. But, it is necessary to take into account the position of key levels.
The position is closed upon receipt of the profit required according to the money management strategy used several times the size of the stop loss. For the forex pattern "Rails" it is advisable to use a take profit equal to 1. This recommendation is due to the fact that the price has made a significant movement from the action of an impulse that contributes to the formation of the second long candle of the pattern. It is best if the take profit is placed near the support or resistance lines.
If this happens, it is advisable to close the position. The classic strategy for entering the market using the Rails pattern involves opening a SellStop BuyStop order after the completion of the formation of the second candle a few points below its Low High. At the same time, it is necessary to build key levels and check the proximity of their location to the level of formation of the "Rails".
Hello dear friends! We continue to study trading in the foreign exchange market using the Price Action method. It is not so common on the charts, but it should definitely be taken into account as an additional tool for technical analysis. Do not look for it with a magnifying glass on the chart, the pattern should stand out clearly and clearly! We enter the market with pending orders placed a little higher High of the second candlestick if it is a bullish setup and lower Low if it is bearish.
Stop loss is set accordingly on the opposite side of the entry. In the case of a bullish setup, just below Low our pattern it can be Low, both the first and second candle , and in the case of a bearish setup, just above High.
An important point, the pattern should have a support in the form of horizontal levels, , etc. That is, there should be an additional confirming factor of our setup, if it is not there, and the pattern was drawn on empty place , take it into account it is forbidden!!! Do not set big goals, maximum the nearest horizontal level or one and a half stop-loss sizes, in view of the fact that the movement can end quickly and turn into a flat, due to the impressive size of the candles themselves.
Their size already tells us that a strong movement has taken place, and it is not worth waiting for some other strong impulse. As you can see, both patterns have supports in the form of horizontal levels. The bearish, in addition, has a support in the form of an exponential moving average with a period of 50 acts as a dynamic level.
The take profit of the bearish setup was set just above the nearest horizontal level, and the bullish setup was one and a half stop loss sizes. In the first case, the target was taken, in the second, alas, the price did not reach the take profit the pattern does not always justify our hopes.
But it was desirable to exit this position at a dynamic level, or at least when there was a rebound from it, the profit would not be big, but the deal would not go negative. Important: pay attention to the trend. Let's say the rails pattern was formed on a price correction, and if the market entry is in the direction of an established trend, this gives it strength.
In the case I have considered, entering the market on a bearish setup was just in line with the trend. When you find the "Rails" pattern near an important level, you thereby increase the accuracy of the signal and reduce the risk of losses on the selected position. Rails is a Price Action pattern that consists of 2 candles.
Candles should have a different direction and their bodies should be large compared to neighboring candles. Bearish pattern: 1st candle is bullish and 2nd candle is bearish. In a bullish pattern, the opposite is true: the 1st candle is bearish, and the 2nd candle is bullish. The Rails pattern usually indicates a short-term momentum that quickly disappears, turning into a flat.
Any trader would like to learn how to detect a market reversal in time, which would allow him to increase his capital well. A large number of indicators have been created to detect a trend reversal, but many of them, unfortunately, give signals with some delay. Today you will learn about another Forex reversal pattern called Rails. The figure of the rails indicates that the trend will change its direction soon.
The Rails pattern includes 2 candles with long bodies and short shadows, and most importantly, they must be in different directions. You can see how this pattern looks on the chart in the following picture. Let's discuss the trading rules based on this pattern. Pay attention to the fact that at the beginning there was a long rising candle with short shadows, this indicates that the buyers who won before that win the market.
After that, a descending candle with a long body and short shadows appeared on the chart, which indicates that the sellers won. This was an example of a trend reversal from an uptrend to a downtrend. If the first candle was black and the second white, then this would indicate that the downtrend is changing into an uptrend. The Forex rail pattern can appear both before a global trend change and before a rollback from the main movement, after which the trend in the market will continue.
In this regard, it is recommended to confirm this with additional tools. To increase the profitability of trading, experienced traders are advised to adhere to the following rules:. It is also important in the course of trading to use only those figures that are distinguished by the purity of the formation. That is, it is recommended to use only those models that have sufficient body length and short shadows. At the same time, it is desirable that these candles stand out for their length compared to other bars, which confirms the increase in activity in this period of time.
It is recommended to enter the market when this model appears using pending orders, which are placed behind the opposite side of the setup. Trades are opened with stops that are set on the opposite side of the pattern. These figures are strong if they appear after a long trend and near important support and resistance levels.
Immediately after the appearance of the pattern, a Buy Stop order is placed at the top of the pattern, and the stop for the order is placed under the low of this pattern. When a pattern appears that heralds the beginning of a downtrend, a Sell Stop order is placed a couple of pips below the low of the candles, and a stop is placed a couple of pips above the high of the candles.
As for take profits, they should not be excessively large, since the second candle is already a strong impulse, which, according to the laws of the market, will soon begin to fade. For this reason, it is advisable to use a small fixed take profit, which can be placed near the nearest support or resistance level.
A take can be a maximum of 1. Experienced Traders in this case do not recommend using a ratio of 2 to 1. I want to note right away that it is not so difficult to identify the figure of the rails on the chart. To do this, it is not at all necessary to enlarge the chart, since candles should stand out strongly on the chart by their size. In case of non-compliance given condition , it is best to refuse to enter the market. Note that the rails pattern in our example appeared after a long uptrend, which indicates that the price is highly likely to change its direction.
Also note that this figure appeared near the support level, which increases the reliability of this figure. The model is not badly formed, although ideally the shadows should be a little shorter. So, open a pending sell order slightly below the lows of the candles, set a stop a couple of points above the high of the figure. The take for the deal is located at the nearest important level, which in our example can be clearly seen on the chart.
Please note that after the order was triggered, the price passed 70 points, which for daily charts is negligible. I repeat that when opening orders, you do not need to set too large targets. Pay attention to the selected area in the previous picture. You see a rails pattern with candles whose body length is less than neighboring candles. This suggests that this pattern arose when there was low activity on the market, in this regard, it is best to refuse to open transactions on this pattern.
A strong pattern should stand out clearly on the chart, it should have candles with long bodies. In general, a trader should always remember the meaning of this figure. In the following picture, you can see an example of a pattern appearing after a long downtrend. Despite the fact that the price reversed after its appearance, it was not necessary to use it to enter, since the bodies of the candle, just as in the previous example, do not stand out in size compared to other bars.
In such situations, you need to be very careful, otherwise you risk getting a large number of erroneous signals. When a rails pattern appears on the chart with small candle bodies, the price can either reverse or continue its previous direction. In such situations, it is recommended to use additional indicators to find suitable points to enter the market. In the next picture, you can see another example of entering the market when a railroad pattern appears. Pay attention to the fact that after the downward movement, a pattern with large candles appeared.
This model can be used to enter the market. Immediately after the close of the second candlestick, a pending sell order is placed a couple of pips below the low of the pattern and with a stop a couple of pips above the high of the pattern. Take profit is placed at the nearest support level. Looking at the above example, you may notice that after a serious decline in the price level, at the time of opening foreign exchange market , a gap and a bearish candle with a large body appear on the chart.
Further, due to the activity of buyers, the range of the previous day was bought off, due to which a large rising candle was formed on the chart. After the close of this candle, a rails pattern appeared on the chart. Since the candle combination is clear, we can create a position against the existing trend. In this case, it is recommended to use a pending Buy Stop deal set above the maximum point of the candle combination.
Stop-Loss should be placed below the low of the pattern, and Take-Profit close to the resistance level. Rules for trading on the rails pattern in the forex market How to enter the market correctly. How to find the Rails pattern on Forex charts PriceAction the Rails pattern is candle pattern , formed from two oppositely directed and similar in size candles or bars, gives traders a pivot point in a trending market.
Causes of Rail with t. VSA Forex When the part major players abruptly exit the market, the current trend is instantly interrupted and changes direction.
|Figure rails on forex||The concept of leverage in forex|
|Figure rails on forex||To increase the profitability of trading, experienced traders are advised to adhere to the following rules: Enter the market only in the direction of the trend. If the first candlestick was black and the second one was white, then it would indicate that the downtrend is changing into an uptrend. The stop loss should be at the opposite extreme - the highest point for a bearish setup and the lowest point for a bullish setup. Forex or FX trading is buying and selling via currency pairs e. An important point, the pattern should have a support in the form of horizontal levels,etc. The tactic of conservatives implies placing a pending Stop order after closing the body of the reverse bar. In other words, a tick is a change in the Bid or Ask price for figure rails on forex currency pair.|
|Margin of safety risk-averse value investing strategies for the thoughtful investor ebook||Forex forecast australian dollar|
|All about money management forex||876|
|Forex strategy fractals||In any case, it has the following characteristics: Two candles of different colors have large body and small shadows often without shades. Requiring more vigilance to spot, on the other hand, are the sudden shifts which might be triggered by an event such as a comment in a ministerial press conference which is assumed to increase the chances of a no-deal Brexit and so sends the value of the figure rails on forex dropping. Watch the video about the rails pattern As a rule, the true forex pattern "Rails" is very noticeable on the price chart among other movements Fig. Shape shape " Rails » The model consists of only two candlesticks bars. During the release of important economic news, as well as the first hours after the market they can choose the trend or seek to maintain the current of the previous trend, usforex reviews taiwan the degree of uncertainty of future predictions increases. That, in fact, is all that I wanted to tell about the Rails pattern.|
|Figure rails on forex||Forex trading software ukur|
Just like in other markets in Forex, the main principle of speculation can be reflected in one phrase: buy cheaper, sell more. When trading currencies, it is concluded two type of transactions. In financial terminology, they are called positions. This can be buy position or sell position.
The Forex market differs from the commodity market only in that there is no need to have the required amount of a certain currency in order to complete a sale transaction. Therefore, in the process of trading, you can immediately conclude a sell deal. Regardless of where trading starts - buying or selling, the main rule of making a profit remains unchanged.
You should always try to buy currency as cheaply as possible and sell as expensive as possible. The procedure is irrelevant in this case. As noted above, you do not need to have stock to sell currency. However, there must be an amount on the account that is enough to open a position of the required volume.
To be precise, it is not currencies that are traded on Forex, but Currency Pairs They include two currencies at once. When determining quotations, the value of one currency is expressed in a certain number of units of another. It is she who brings to the Forex market profit or loss. In Forex, the volume of contracts or transactions is standard. It is traditionally tied to the amount of the base currency. In this case, the unit of measurement of the standard size of the contract is lot.
Under lot in trading carried out on the Forex exchange, they understand a unit of transactions on the market, a batch of the sold currency, a certain amount of the sold and bought currency of the same type. In this case, the standard size of one lot is units of the base currency. As noted above, basic - the currency that is in the pair at the beginning. The amount required to sell one lot, even with a sufficiently large leverage, is quite large.
It would seem that not everyone can afford to trade in Forex. However, there is no need to trade entire contracts. The market allows you to use the fractional part of the contract in trading. It turns out a deal on 0,4 lot has volume 40 base currency units , 0,2 contract - 20 units.
Contract volume ultimately determines size of financial result profit or loss that the trader will receive when closing the position. In addition, it is he who affects the cost of one point. Item in the Forex market, the minimum possible change in the value of a currency pair is called.
Most often, a quote has 4 decimal places. In this case, the point is 0, It is important to consider, using an example, how profit and loss are formed when a market participant makes a transaction. The balance of the trading account is 1 USD. Moreover, at the moment the price Ask is 1, In the form of a diagram, opening a position can be represented as follows:. It turns out that euros in the amount of 10 were bought, for which dollars had to be paid.
However, the trader does not have such an amount on the account. If there is USD on the account, it is quite possible to make such a deal. The amount that was required to secure the presented transaction ,12 USD is called margin In other words, margin is a collateral that provides an opportunity to issue a loan with goods in our case, currency This currency is used in the process of trading on the exchange for the purpose of making a profit.
A trade that uses margin is called margin. In the example presented, a deposit allows a trader to open a position with a larger contract value. But do not forget about caution: you should be extremely careful when choosing the size of the transaction you are making. This is due to the fact that the size of the contract affects not only the profit obtained, but also the potential loss.
How will the situation develop further? Suppose that after a while there was an increase in the value of the currency in the market. As a result, the trader manages to close the deal at the price Bid which is 1, In other words, the trader sold the previously purchased 10 euros for dollars at an increased rate. The positive or negative result of the transaction makes it possible to understand: profit or loss was obtained as a result of the transaction.
By price Ask was committed purchase , but for the price Bid - sale. As mentioned above, there are two types of prices on the stock exchange, as in any market. At the Bid price, the broker agrees to buy the currency from the trader, and at the Ask price, to sell the currency to the market participant. The difference between Ask and Bid prices is spread The difference between prices spread is extremely important for a broker, because his profit is made up of it.
Despite the fact that this difference is small, the profit of the brokerage firm is, in the end, quite significant, because there are quite a lot of traders on the market. Spread in the Forex market is most often fixed. It is different for different currency pairs and is not less than two points. When opening and closing positions in the foreign exchange market, market orders. Order call a trader's order to a broker to buy or sell a financial instrument at a certain price.
Many people consider market orders in terms of their execution at the current price in the market at the moment. In practice, the situation is somewhat different. A trader is physically unable to monitor the state of the market continuously - around the clock, interrupting only on weekends and sometimes holidays. At the same time, for successful trading, it is extremely important not to miss the moment and complete the operation at the required price.
This opportunity appears due to the forex pending orders. Pending order is a trader's order to a broker to buy or sell a currency pair, as well as to close existing positions when the quote reaches a certain level in the future. Pending orders allow the trader to control the opening and closing of positions even if there is no connection to the trading terminal. In other words, such orders perform an important function: they allow you to open or close a position at a price predetermined by a trader.
In most cases, each open position is set two orders at once - Stop Loss and Take Profit. When one of the orders is triggered, the second is canceled. Experienced traders believe neglecting orders Stop Loss is not worth it If you do not use loss fixing during trading, in the event of a sharp price movement in the opposite direction to the desired one, you can quickly lose the entire deposit. Buy Stop is an order of a brokerage company to open a position implying the purchase of currency if it cost will increase to a certain level.
In this case, the price of an order to open a position is always higher than the one acting on the market at the time of placing the order. Warrant Buy Limit - a trader's order to his broker to open a buy position with lowering prices up to the specified level. It turns out that in this case the price used when placing an order should be lower than the one that is currently operating on the market.
In simpler terms, it can be noted that pending stop orders the trader sets when he expects the chosen direction of movement to be confirmed. In this case, the transaction will be executed at a cost less profitable than the current one. At the same time pending limit orders used by traders who believe that in the future there will be a movement opposite to the current one. This situation is usually observed during a trend reversal or pullback.
In this case, the position will be opened at a price more favorable than the current one. The use of the orders described above in the trading process is to optimize the trading process in a standard way Such orders allow you to catch the necessary moments even in the absence of continuous monitoring of market behavior.
However, the options for using pending orders are not limited to the above orders. So, for example , the popular MetaTrader 4 platform allows you to install related orders. In this case, the action of one order directly depends on whether the other is activated or deactivated. Thanks to this, it becomes possible to build a strategy of almost any complexity. Thus, there are not so many basic principles of trading. Everyone can remember them.
However, it is important that their understanding is also present. For successful trading in the Forex market, it is important not only to know well and be able to apply basic information. You should also choose such trading platform that will meet the requirements of the trader. In the selection process, you should not blindly trust advertising reviews. It would be much better to compile a specific list of characteristics and capabilities that are present in various platforms.
After that, the trader must understand what factors are most significant for him. Taking into account all these features, an individual rating of platforms is drawn up and the most optimal one is selected. Platform for trading on Forex is most often called trading terminal Some brokerage firms also call them trading clients But the essence remains the same.
Trading Terminal is a software designed for interactive entry into the international foreign exchange market. With the help of such a program, you can conclude various transactions on the exchange. Basically, almost every trading platform is convenient for trading. The choice in favor of one of them should be made based on your own preferences, as well as on the basis of the offers of the forex broker. In one of our materials, you can find out how the rating of Forex brokers looks like.
Criterion 1. If this indicator for the platform is low, it can be inconvenient to trade with it. There is a delay in the display of quotes on the chart, transactions may be executed out of time. This is especially frustrating in intraday trading, where every point counts. Criterion 2. Functionality can be characterized as the number of tools available in the terminal for analysis: technical indicators, timeframes, charts etc.
You should also evaluate what modes and types of orders are provided in the terminal, whether there is an economic calendar, services for conducting fundamental analysis. Well, do not forget that in different trading terminals there may be a different number of financial markets, trading floors, as well as financial instruments available for transactions.
Criterion 3. User-friendly interface. This item implies that the use of the program will be intuitive, you can set individual settings, including the color scheme. All this determines the comfort of the trader. Naturally, the first impression of users is also influenced by external design of the program. Criterion 4. The terminal must ensure confidentiality, as well as the security of all data stored in it, as well as transactions carried out.
It is important to remember that this factor is determined not only by the program used, but also by the broker with whom the account is opened. Criterion 5. Mobility - the ability to install a trading terminal on mobile devices. In other words, the platform must be compatible with various operating systems, work on smartphones and tablets without failures and failures. It should be understood that functionality is an important factor.
However, there are platforms that, with less functionality, are more adapted to certain trading conditions. Thus, there are a large number of trading platforms in the market. Typically, different levels of professionalism require different programs.
The fact is that too much advanced functionality can be confusing for a beginner, and a small number of tools may not be enough for a professional. Therefore, over time, many traders move from one terminal to another. At the same time, there is no universal advice which turns out to be better.
It is best to try all popular platforms and choose the one that best suits the requirements of the market participant. You can download and choose a program for working on Forex for free on the official website of the Forex Club. The Ninja Trader platform was recognized as the benchmark. It is a fully functional program developed in the United States by the company of the same name, whose office is located in Denver. Using NT, you can conclude transactions not only with currencies in Forex, but also participate in trading with other instruments: stocks, options, forwards, as well as Futures.
The terminal includes a huge number of tools for market analysis, modeling and forecasting the future movement of quotes, as well as developing your own trading strategies. ZuluTrade is an online system. The trading process uses Free Forex Signals provided by traders from all over the world. The trading method when using this platform can be described in a few words - copying the actions of other traders online.
The ZuluTrade program is a kind of community that brings together two categories of market participants:. Without a doubt, you can choose a provider only after a thorough analysis of its trade and evaluation of its effectiveness. The service can help with this.
ZuluTrade Alchemy , the main function of which is to conduct an automatic comprehensive analysis of traders' trade. Once the decision is made to trade with ZuluTrade, it is important to diversify risks wisely. For this purpose, the deposit should be conditionally divided between several signal providers. By the way, ZuluTrade offers the opportunity for any trader to register as a signal provider.
All you need to do is find a reliable broker. This platform is based on the principle mirror trading on Forex. Previously, only large investors were able to use it. The principle of operation on this platform is quite simple. Servers owned by the program developer by Tradency , monitor the signals that come from the authors of various trading strategies in the foreign exchange market. Using the Mirror Trader, investors select, analyze and evaluate signals from professional traders.
After that, they decide to execute or reject these signals on their trading accounts. Mirror Trader allows you to customize how mirroring works in by hand , automatic and semi-automatic mode. Platform developers are MetaQuotes Software Corp.
MT4 was released in , it replaced the older version - MT3. This is one of the most popular platforms among traders. This fact is explained by its high performance. Even on a not very powerful computer, it allows you to serve more than ten thousand traders at the same time. Just five years after the release of MT4, more than new version In , Meta Trader5 was presented, which has a new design and incredible functionality. The developers stated that the main advantage of the MT 5 platform is that it was based on the principle all in one By opening just one account, the trader not only gets the opportunity to analyze and trade in automatic mode, but also access to several financial markets:.
The programming language used in MT5 is faster than the previous version by almost 10 times This allows you to issue forecasts with increased accuracy, as well as make automated trading more efficient. In this way, MT5 today - one of the fastest, most productive and cost-effective platforms in the world.
Let's compare the trading platforms MetaTrader 4 and MetaTrader 5. It is important to understand that no one can give universal advice on choosing a trading terminal. It all depends on the needs and level of professionalism of the trader. The fact that for trading on the Forex market it is important to have at least a minimal set of knowledge leaves no doubt. Most brokers offer newbies to go through Free training to prepare for the start of trading.
It is important for a brokerage company that the trader stay afloat as long as possible without losing the deposit. After all, the level of the profit they receive largely depends on this. The quality of the training offered differs from broker to broker. Therefore, it is important to study all the available information about them before starting classes, to study the reviews of those who have already completed the training course. Beginners can familiarize themselves with the Forex market by choosing one of the types of training offered in the market.
Stationary courses represent classic version of training In this case, communication with the teacher takes place directly with live contact. Distance learning carried out in the form webinars or online lessons This uses a camera and a communication program, for example , Skype Professionals determine the topic of the lesson, appoint a time for it and recruit a group of people willing to participate.
The connection to the lesson takes place through a conference call. The main advantage of this method of learning is the ability to communicate with an experienced trader without having to fly to another city or even a country.
Self-study guides and video tutorials usually they are recordings of already held webinars or a regular video on a specific topic of trading. This way of teaching allows you to learn a set of certain knowledge. However, he has a significant drawback: you need to show perseverance, independently plan your time.
In addition, when viewing the recording, there is no feedback - the opportunity to ask a question to the lecturer. Broker ForexClub offers to get basic knowledge about the Forex market by visiting free online seminars The company tried to create the most comfortable conditions that allow a novice trader to form a basis for understanding the trading process and develop their own trading model in order to make a profit.
To sign up for courses, you should go to the company's website in the section "Training" Then select the courses of the lesson and fill in the contact information. In the near future after sending the application, the company manager will call you back and explain when and where to come. At the same time, seminars are held both in daytime And in evening time. Therefore, anyone interested can choose the option that suits him. The training course at ForexClub is calculated on 2 of the week It includes two large blocks: 1 introductory and 2 practical.
Introductory stage of training includes several lectures of 90 minutes each. From them you can find out:. The purpose of the first stage of training is the preliminary preparation of future traders. When passing it, the participant can decide whether he will continue training or refuse it. Second part of training also consists of three sessions. To start a practical course, you need to study the theory and pass an exam based on its results.
During the second part of the course, a personal consultant explains how the terminal can be used. Participants open demo accounts During this period, the consolidation and development of theoretical knowledge takes place. An interesting option to get basic knowledge about the Forex market is the online project offered by the MasterForex-V Trading Academy. The information about the courses testifies that they are based on a unique method of teaching the Forex market.
The success of this teaching methodology is confirmed by the availability of independent objective ratings and reviews. Among the students of the company, many became successful traders and receive a consistently high income from trading. There is also informational material on our site, which tells in detail where to invest money at a high interest rate with a guarantee and receive a monthly income. To start training, it is enough to sign up for a webinar by visiting the official website of the company.
After that, 3 electronic editions are sent to the trader. It is on their basis that webinars are built. An important advantage of the training course from MasterForex-V is its complete computerization, as well as visual presentation of information. Confident in themselves and their abilities, beginners can choose interactive self-guides and video tutorials as a way of learning.
To date, the best among such offers is considered tutorial from FreshForex. In this manual, materials include a huge number of author's techniques. Classes are built according to a unique methodology, the lessons have a clear understandable structure. Once the size of the box is chosen and the starting point is decided, the drawing can be started. When the price goes up another 10 pips, a new X is drawn on top of the first one and so on. If the price fluctuates within 10 pips, nothing is drawn on the chart.
As you see, the filtering power of the method is obvious. To draw a bearish movement, it would be necessary to put an O for every 10 pips that the price goes down. In addition to the box size, another important parameter is chosen by a trader — reversal size. The reversal size is the number of boxes that the price has to go against the current movement to end it and to start drawing a new one in the opposite direction.
The reversal size of 3 and 4 is quite common but any integer number equal to or greater than 1 can be chosen as the reversal size. And if it does, the first O is drawn in the next column, one box below the top X of the previous column the price went down ; additionally, two more O's are drown in the same column below the first O as it was the movement of 30 pips, which for a box size of 10 pips means 3 boxes.
The process continues ad infinitum. As a result, a trader sees a lot of X's and O's plotted on the chart — they represent the price changes in pure form and can still be analyzed with the conventional technical analysis tools, for example — chart patterns.
Point-and-figure charts aren't very popular in Forex trading — perhaps, they are the least used chart type, even among exotic chart types. For example, neither MetaTrader 4 nor MetaTrader 5 provide point-and-figure view as a part of their default toolsets. Fortunately, there are numerous charting solutions to draw Forex point-and-figure charts.
It is also a very good thing that you are not obliged to trade using the same platform that you use for charting, so your choice should not be limited by your broker. The PnF view can be customized via box size and reversal values. Unfortunately, it doesn't support dynamic e. A point-and-figure view can be enabled via the platform's Marketscope 2. TradingView offers by the most functional and easy-to-use point-and-figure charting method.
Not only it allows customization of every parameter, it also supports dynamic box size based on the ATR indicator:. Comes with four different MetaTrader templates and can be quite tricky to set up. Once set up, offers a rather nice layout of X's and O's or boxes directly in the main chart window, with dates, months and years marked directly on the chart — very handy.
The chart settings can be adjusted to the smallest details. The main drawback — calculation is very slow and can freeze a trading terminal. Oh, and the source code is not available for tweaking. Additionally, its code is open-source and can be used to build even more sophisticated XO indicators.
Box size can be set either manually or calculated by the indicator automatically using the average trading range. This can help if the indicator becomes too slow. It shows XO's based on real-time tick data and it will take some time several hours probably for it to draw something useful.
Thus, this indicator will be completely restarted if it is re-attached to the chart or MetaTrader is re-launched. It is included here only for research's sake. It works pretty fast and the number of bars it processes can be changed. The disadvantage is that its source code is not available for editing. X-dOrsey — quite similar to the previously described Point and Figure mod 02 indicator. Anyway, feel free to download and try the following indicators:. It was developed by Dmitriy Zabudskiy.
In General, we must note that the pattern of Rails Forex is secondary to the more powerful figures such as outside bar, pin bar and inside bar. In this article, we will look at candlestick patterns called Rails. This pattern generates a reversal signal and denotes a change in market sentiment. You will. Today you will learn about another Forex reversal pattern called Rails. The figure of the rails indicates that the trend will soon change its direction.