I took a look at the weekly gold/silver ratio and noticed a few significant patterns. For example, there was a notable acceleration downward following the break of a 3-year uptrend a couple of weeks ago. Additionally, there is support at the 74.65/63 level, which has been in place since January 2022. This observation reminded me of the importance of examining...
Want to spot a turning point in trend before it happens? Use Elliott wave parallel channel This chart shows the GBP/JPY currency pair using monthly candlesticks. The advance from Sep 2011 to June 2015 can be labeled as an impulse wave (A). From that high, the pair declined in three waves labeled as wave (B) of a Zigzag A-B-C correction with an expanding diagonal...
Liquidity plays a vital role in shaping market prices, particularly among large market players such as banks, hedge funds, and other influential entities. These entities, often referred to as market makers, manipulators, and others, are driven by their pursuit of liquidity. In fact, liquidity is the foundation upon which successful trading is built, and it's where...
This post is inspired by @TradingView's rebranding in 2021 and the recent Leap competition. At first glance, trading and rock climbing might seem worlds apart. One involves analyzing market trends, while the other requires physical strength and agility. However, both pursuits share surprising similarities, highlighting unique skills and mindsets. Here’s a look...
💡 The cryptocurrency market is a realm of endless opportunities, where prices can fluctuate wildly, shooting up 5-10% in a single day in either direction. This volatility can be both exhilarating and intimidating, as it can either wipe out investors or leave them with a quick windfall. However, not everyone is suited to navigate this fast-paced landscape. For...
In the past, a person would typically have to go to the brokerage or another financial entity to buy or sell a security. The trade would be then settled through a personal meeting or, as technology progressed, over the phone. Nonetheless, the implementation of modern technology within the financial markets of the 21st century made placing buy and sell orders as...
🌐 The trading conditions of any account specify the type of spread: floating or fixed. As a rule, the value of a fixed spread is larger, but a floating spread has an insidious wording “from...” in the terms and conditions. This means that the floating spread may well be greater than the fixed one. Nevertheless, it is considered better. What are its advantages and...
Hey traders, In this educational article, we will discuss 3 stages of the evolution of a trader . Stage 1 - Unprofitable trader 😞 The unprofitable trader has very typical characteristics: -total absence of trading skills Most of the time, people open a live account simply after completing some beginners course like on babypips website. Being sure that...
Hi everyone, I get this question occasionally, so I figured I would share my opinion on the matter. There are many misconceptions about trading or being a professional trader. One of them is, the more monitors you have, the more successful or advanced you are as a trader. That is complete nonsense. In this video I explain what I think the best number of monitors...
Trading system and strategy are often equated, but this is not quite right. Both a strategy and a trading system is a single algorithm of actions, including the process of searching for signals and opening trades. But strategy is often understood as following certain rules, while a trading system is a combination of technical, fundamental and psychological...
In this article, we will discuss a proven price action based way to identify the market trend . ❗️And let me note, before we start, that no matter what strategy do you use in your trading, you should always know where the market is going and what is the current trend . Your judgement should be based on strict and objective rules that proved its...
Just 3-5 years ago, the concept of "real assets" was clear-cut - physical items that could be owned such as stocks, gold, and currency. On the other hand, "derivatives" referred to intangible assets like swaps, options, and CFDs that allowed for profit-making. However, the emergence of cryptocurrencies and blockchain technology has completely transformed this...
Too many traders think they are taking a Random Walk through these market streets. Well this post is to help them define a direction. Can you use this to target the exact price and day/hour/min? No (well sometimes you can nail it) But just like the Map App on your phone it will get you within a certain degree of accuracy AND you will definitely generally no...
In my videos, I frequently use the term "trading account drawdown ". Many of you asked me to explain the meaning of that term and share some examples. What is Trading Account Drawdown? The account drawdown is the highest observed loss from the highest value of the deposit to the lowest value of the deposit at a certain period of...
The advance from Dec 2018 seems to be tracing an impulse pattern. Wave 1 is an impulse, wave 2 is a zigzag which neatly predicts flat wave 4 by guideline of alternation. The fifth wave appears to be tracing an impulse as well; an extension. It's probable that two minute degrees have reached completion at this stage and the market appears to be tracing out the...
Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Let's begin with our topic today! The forex market, being decentralized and over-the-counter (OTC), operates differently from traditional centralized exchanges. To navigate it effectively, traders need to comprehend its unique structure. Market structure refers to...
Here are 10 tips to become a profitable trader: 1. Understand the markets and trading instruments: Thoroughly learn about the financial markets, trading products, and how they function. This will help you make well-informed investment decisions. 2. Develop a trading strategy: Formulate a clear investment strategy, including entry/exit criteria, risk management,...
Hey traders, If you are wondering how to start Forex trading, or you just started to trade, I suggest a 12 weeks intensive learning plan. Each week will be dedicated to a specific topic. Starting from the basics you will gradually mature and by the end of the intensive you will have a complete trading strategy. ✔️Week 1 - Practice market trend...