GBP/CAD Forex Trading GBP/CAD Live Price Trading GBP ...

http://twitter.com/forex_in_world/status/1299301054815838208Chart Art work: Range and Retracement Trades on GBP/CHF and NZD/CAD https://t.co/AJ2j0spzbP— FOREX IN WORLD (@forex_in_world) August 28, 2020

http://twitter.com/forex_in_world/status/1299301054815838208Chart Art work: Range and Retracement Trades on GBP/CHF and NZD/CAD https://t.co/AJ2j0spzbP— FOREX IN WORLD (@forex_in_world) August 28, 2020 submitted by Red-its to forextweet [link] [comments]

http://twitter.com/forex_in_world/status/1299303095026028544Chart Art work: Range and Retracement Trades on GBP/CHF and NZD/CAD https://t.co/c6mP2V056B#forexsignals #forextrading #donaldtrump— FOREX IN WORLD (@forex_in_world) August 28, 2020

http://twitter.com/forex_in_world/status/1299303095026028544Chart Art work: Range and Retracement Trades on GBP/CHF and NZD/CAD https://t.co/c6mP2V056B#forexsignals #forextrading #donaldtrump— FOREX IN WORLD (@forex_in_world) August 28, 2020 submitted by Red-its to forextweet [link] [comments]

http://twitter.com/forex_in_world/status/1277427311869116417Weekly Trades: EUR/USD, EUR/CAD, GBP/USD [Video] https://t.co/8BrZRJIau4— FOREX IN WORLD (@forex_in_world) June 29, 2020

http://twitter.com/forex_in_world/status/1277427311869116417Weekly Trades: EUUSD, EUCAD, GBP/USD [Video] https://t.co/8BrZRJIau4— FOREX IN WORLD (@forex_in_world) June 29, 2020 submitted by Red-its to forextweet [link] [comments]

http://twitter.com/forex_in_world/status/1268909078769799172Chart Art: Support and Resistance Trades on USD/CAD and GBP/CAD https://t.co/9qIdFbvQAX— FOREX IN WORLD (@forex_in_world) June 5, 2020

http://twitter.com/forex_in_world/status/1268909078769799172Chart Art: Support and Resistance Trades on USD/CAD and GBP/CAD https://t.co/9qIdFbvQAX— FOREX IN WORLD (@forex_in_world) June 5, 2020 submitted by Red-its to forextweet [link] [comments]

http://twitter.com/forex_in_world/status/1262009979332169730Chart Art: Break and Retest Trades on GBP/JPY and AUD/CAD https://t.co/cyMLQzg6QR— FOREX IN WORLD (@forex_in_world) May 17, 2020

http://twitter.com/forex_in_world/status/1262009979332169730Chart Art: Break and Retest Trades on GBP/JPY and AUD/CAD https://t.co/cyMLQzg6QR— FOREX IN WORLD (@forex_in_world) May 17, 2020 submitted by Red-its to forextweet [link] [comments]

I Automated & Backtested ParallaxFX Strategy

I am a Software Engineer / Data Scientist and I decided to give a go at automating a strategy based on the ParallaxFX strategy floating around and backtests the results, also due to some inspiration by Vanguer
 
I backtested on the majors 4H timeframe between January 2015 to January 2020.
 
I am only considering trades from the top and bottom bands for now.
 
My trading criteria is:
 
Upper Band
Indecision candle
Setup candle
 
Lower Band
Indecision candle
Setup candle
 
Entry: 38.2 Fib
Stop Loss: 100 Fib
Take Profit: -161.8 Fib
RRR: 3.23
 
If a candle meets my trade criteria I open the trade and forget about it.
 
I started with a balance of 500 EUR and a risk of 1%. The results use compound gain / loss and I only considered one currency pair at a time.
 
The results were not that impressive...
EUUSD
AUD/USD
GBP/USD
NZD/USD
USD/CAD
USD/CHF
 
Due to this being automated I can test a variety of parameters pretty quickly and come back with trading screenshots, results, etc.
 
I am considering a higher timeframe but the number of trades is already fairly low.
 
Here is a link to a Google Drive (https://drive.google.com/drive/folders/16cO0ZSCGakkbK90lh-FBIC3ZJIxOj9fI?usp=sharing) with screenshots from each trade and a log of the system as it makes the trades. The candles highlighted in yellow / purple are where the trade is entered. I do not have the picture marked as a win / lose but it should be obvious by the candle formation.
submitted by TribeFX to Forex [link] [comments]

Forex Trading Strategies Reddit: What you need to know to start Forex trading.

Forex Trading Strategies Reddit: What you need to know to start Forex trading.

FOREX Strategies

What are FOREX Strategies?
https://preview.redd.it/ihmphstzguv51.jpg?width=960&format=pjpg&auto=webp&s=81f6b73c367d8695605514f8d32aaf3e2aeabc6e
You may have noticed that most of people confuse the terminology and refer to FOREX Strategies in the wrong way. There are methodologies, systems, strategies, and techniques. The most effective methodology is Price Language (Trend Tracking). Combined with a correct reading of mass psychology presented by the charts.
We know that in the Stock Markets there are thousands of strategies. FOREX, like the rest of the markets, presents you with the opportunity to apply similar strategies to win consistently. Taking advantage of repetitive psychological patterns.
First, the Price Language methodology has created great fortunes in FOREX, and the next fortune may be yours. But this methodology must be implemented within a framework of advanced concepts of Markets. Without forgetting the basics. And working hard day by day.
Second, a strategy is a set of parameters and techniques that together give you the advantage to act in any situation. Thus for example in war, generals have attack strategies and counterattack strategies.
FOREX strategies alike are entry strategies and exit strategies. All beginners should know these FOREX strategies for beginners. That way you will get a general idea of ​​the game and understand that trading is a war against the Market and its Specialists. Only applying FOREX strategies revealed by the same Specialists and using their own techniques,
... you can survive in this war.
Do not fall into the trap of the many "systems" and "methods" that are offered on the internet about operating in the FOREX Market. They just don't work in the long run. They are strategies based on indicators for the most part. Using rigid parameters. That if they can work and give profitability during a certain period of time, they will always reach a breaking point when the market changes its dynamics.
Instead, take advantage of your precious time and learn the Language of Price or Price Action.
The Language methodology will allow you to adapt to each new phase of the Market. If you combine this knowledge with the appropriate psychological concepts, you can live comfortably from speculation in FOREX.

Forex Trading Strategies Reddit - Basic FOREX Strategies

You have two basic FOREX strategies, one entry, and one exit. Both follow a general strategy that helps you capitalize on the collective behaviors of the Market. That is, of the total of participating speculators.
This behavior causes the formation of cycles that repeat over and over again. Driven by the basic emotions (uncertainty, greed, and panic) of the speculators involved that can be taken advantage of with the aforementioned FOREX strategies. Specialists identify these emotions in the order flow and capitalize on these events every hour, every day, and every month.
Basic FOREX Strategies - The Price Cycle
These repetitive cycles consist of 4 phases:
  1. Accumulation
  2. Upward trend
  3. Distribution
  4. Downward trend
https://preview.redd.it/6dvk2w0pduv51.png?width=300&format=png&auto=webp&s=a3ab65ca4eab6d20174b3327b862d8b59dcc13b7
The two trends can be easily identified by their notorious breakdown. And the two areas of uncertainty (accumulation and distribution), due to their notorious range trajectories.
This general behavior determines the core of our FOREX strategies.
You buy when the price of a pair has broken and has come out of one of its congestion formations (accumulation or distribution). You implement one of the Forex strategies, in this case, the entry one.
The multi-time technique will help you find the point of least risk when entering your initial buy or sell order. In the same way and using the same strategy but this time to close your position, the multiple timing technique will also show you how to close your operation obtaining the highest possible profit.
The most consistent way to extract profits in the market is by trading the start of trends within a cycle . Once confirmed by their respective breaks from the areas of uncertainty. This is the mother of all FOREX strategies . And in a market that operates 24 hours, we have more frequent cycles and therefore more opportunities.

Forex Trading Strategies Reddit - Advanced Forex Strategies

There are many advanced FOREX strategies that are generally used by professional speculators working for large financial firms.
Among these firms are banks, Investment Fund managers and Hedge Fund managers. The latter is an investment modality similar to Investment Funds, with the difference that Hedge Funds use more complex investment strategies. Its operations are more oriented to aggressive speculations in the short and medium-term.
Among the most common strategies is hedging (hedging), carry trade, automated systems based on quantum mathematics. And a large number of combinations between the different option strategies.

The Carry Trade

The central idea of ​​Carry Trade is to buy a pair in which the base currency has a considerably higher interest rate than the quoted currency. To earn the difference in rates regardless of whether the price of the pair rises or falls.
Suppose we buy a $ 100,000 lot of AUDJPY, which according to the rates on the chart would turn out to be the ideal instrument in this example to use the Forex carry trade strategy.
As our capital is in US dollars we have to assume for our example, the following quotes necessary to perform the place calculations:
AUD / JPY = 80.00 USD / JPY = 85.00
What happens internally in your broker is this.
  1. By placing as collateral $ 1,000 of your $ 50,000 of capital (assumed for this example), deposited in your account, you have access to $ 100,000 virtual (this is what is known as leverage); that is, you put in $ 1,000 and your broker lends you 99,000.
  2. With those $ 100,000 virtual dollars, your broker borrows on your behalf ¥ 8,500,000 Japanese yen (85 × 100,000) at 0.1% annual interest from a Japanese bank.
  3. With those ¥ 8,500,000 Japanese yen, your broker buys A $ 106,250 Australian dollars (8,500,000 / 80) and deposits it in an Australian bank where it receives 4.5% annual interest on your behalf.
  4. One year later (and regardless of the profit or loss generated by the pair's movement), your profit will be the difference between the AUD rate and the JPY rate, that is:
Profit = (AUD rate) - (JPY rate) - (costs of the 2 currency exchanges) Profit = (4.5%) - (0.1%) - (0.1% to 1%)
The great advantage of carry trade FOREX strategies is that this percentage profit is applied to the $ 100,000 of the standard lot; the broker transfers all of the profit to you, even if you only contributed $ 1,000. On the other hand, if you carry out the inverse of this operation, this benefit of the Forex carry trade becomes a cost (swap), and you assume it completely.
Remember that FOREX carry trade strategies are recommended for pairs with considerable interest rate differences, such as the one we have just seen in our example.
These FOREX strategies should also not be used in isolation. The idea is that through technical analysis you identify when would be the ideal time to enter the market using your carry trade Forex strategy and multiply your profits considerably.

What FOREX Strategies Do Hedge Funds Use?

The FOREX strategies used by large fund managers do not constitute an advantage in terms of percentage results for them, nor do they constitute a competitive disadvantage for you.
The vast majority of them fail because of their big egos. In fact, there was a firm made up of great financial geniuses, including 2 winners of the Nobel Prize in Economics, who developed a strategy based on quantum mathematical calculations.
With an initial base capital of about 3 billion dollars, and after 3 successful years obtaining annual returns of over 40%, the firm Long-Term Capital Management, begins its fourth year with losses. To counteract these losses the geniuses decide to multiply the initial capital several times, while the losses continued.
The year closed with the bankruptcy of the fund, and with a total accumulated loss of 1 trillion dollars, due to the great leverage used. And all for not admitting that the FOREX Strategies of Long Term Capital Management were not in line with the dynamics of the Market.
There are an overwhelming number of opportunities in the stock markets to make money interpreting the Language of Price.
You don't need to use complex "advanced" strategies that have been created to handle hundreds or billions of dollars.
The reasons for using these FOREX strategies are very different from what a "retail trader" pursues with his small speculation business.
As you can see, you should not worry about wanting to integrate any of these advanced strategies into your arsenal. They are only beneficial for managing hundreds or billions of dollars, where the return parameters are very different when you handle small amounts of capital.
Do not worry about collecting hundreds of free FOREX strategies that circulate on the internet, that great accumulation of mediocre information will only serve to confuse you and waste your valuable time.
Spend that time learning Price Action,
… And you will always be one step behind the Specialists, identifying each new Market condition, and anticipating the vast majority of reversals of all prices.
Ironically, the most successful fund managers indicate that their most profitable trades are those based on the basic trend-following strategies of the Price Language. The same ones that you will learn in this Free Course.
Dedicate yourself to perfecting them and believe me you won't need anything else. As long as you have good risk management, taking into consideration the following points ...

Styles of Investments in FOREX

The Investment FOREX long term is not recommended for small investors like you and me. If we take into account the term investing literally as large investors do who buy a financial product today to sell it years later.
We both have a better niche in the short and medium-term.
You may have noticed that the big multi-year trends in the Forex Market do exist. But minor swings within a big trend are usually very wide.
These minor movements allow us to easily double and triple the annual return of the big general trend, motivating most traders to speculate in the short and medium-term.
These minor oscillations or trends that occur within the large multi-year trends owe their occurrence mainly to two reasons.
First, the FOREX Market presents 3 sessions a day each in different cities of the world with different time zones (Asia, Europe, and America). This causes more frequent trend changes than in the rest of the stock markets.
Second, the purpose for which it was created also plays a role. The modern Foreign Exchange Market, since its inception in 1972, was conceived by the global financial system as a tool for speculation. To obtain benefits in the short and medium-term (from several days to 1 year).
These two points are basically the reasons why we observe the immense speed with which the FOREX market changes trends.
For example, for those who live in America, in the early morning (Europe) the EURUSD pair may be on the rise, in the morning or afternoon (America) it may be down, and then finally at night (Asia) it may return to the rise.

Define your Own Style for your FOREX Investments

One of the first decisions you will have to make is to choose your style as a trader or investor.
There are 4 types of well-defined styles.
Most professional traders tend to have multiple styles, although they always identify with one primary style for their FOREX investments. Study the characteristics of the 4 main styles to make your investments in FOREX :
1. Long Term: recommended for anyone who is going to enter the market for the first time and who can dedicate a minimum of one hour per month to their investments in Forex. The period of an open position ranges from 1 year to 5 years.
2. Medium Term: recommended for anyone who is going to enter the market for the first time and who can dedicate a minimum of one hour per week to their investments in Forex. The period of an open position ranges from 1 month to 1 year.
3. Short Term: recommended for anyone who is going to enter the market for the first time, or who already has a certain time operating in the long and medium-term, showing constant profits, and who can dedicate a minimum of one hour per day to your investments in FOREX. The period of an open position ranges from 1 day to 1 month.
4. Intraday : recommended only for people with a fairly solid earnings record in the short term, and with a capital greater than $ 50,000. As we have noted, this option constitutes a full-time job.
People who start investing in FOREX , should start executing short-term (weeks) and medium-term (months) transactions only, and not pay attention to intraday oscillations (day trading).
If you are interested in being an intraday speculator, I recommend that you first exhaust at least a year doing operations in the short and medium-term to assimilate the correct strategies and to develop the necessary mentality to carry out this work.
The second option would be to participate in some kind of intensive training.
I remind you that self-educating is almost impossible in speculation. You are likely to accumulate a lot of knowledge by reading books and attending courses. But you will probably never learn to make money with all the incomplete "systems" circulating on the internet.

Mistakes to Avoid When Looking for Your Style

Many people who are new to FOREX investments make the mistake of combining these styles, which is a key to failure.
I recommend that if you are not getting the results you expected by adopting one of these styles, do not try to change it. The problem sure is not in the style, but in your strategies or in your psychology.
A successful investor is able to make a profit in any longer trading time than he is used to. I explain. If you are already a profitable operator in the short term, it is very likely that you will also be profitable in the medium and long term,
… As long as you can interpret the Language of Price or Price Action.
In the opposite case, the same would not happen. If you were a medium-term trader, you would need time to adjust to the intraday. The reality is that long, medium and short term traders have very similar personalities. The intraday trader is completely different.

The Myth of the Intraday in Investments in FOREX

If you are already successful in the short, medium and long term, you will notice that the sacrifice and the hours necessary in front of the computer to operate intraday is much greater. The intraday style will be useful to increase your account if it is less than USD $ 100,000 in a very short time in exchange for 8 to 12 hours a day of hard work but ...
You must first develop the necessary skills to operate the intraday.
The ideal is to combine all the styles to get more out of the Market and carry out more effective transactions and have a diversification in your investments in FOREX.
There are intraday traders that are very successful, but the reality is that there are very few in the world that make a profit year after year. If you want to become an intraday, you just have to prepare yourself properly through intensive training.
Otherwise, I recommend that you don't even think about educating yourself to adopt the intraday style. It is not necessary to go against a probability of failure greater than 99%. Unless
... your ego is greater than your common sense.
The main reason why this style of investments in FOREX is not recommended for the vast majority of us "retail investors" (the official term "retail traders"), is the high operational cost.
The real commissions in this market range between $ 2.0 and $ 2.50 for each lot of 100,000 virtual units. This means that a complete operation (opening and closing) is approximately $ 5.00, for each standard lot traded ($ 100,000 virtual).
Another fundamental reason is the advent of robotic traders (HFT = High-Frequency Trading), which tend to manipulate the market in the shorter intraday swings. Please do not confuse HFTs with automated systems that we find daily on the internet, and that can be purchased for a few hundred dollars and often for free on FOREX forums / groups.
These HFTs to which I refer, they are effective. They cost millions of dollars and have been developed by the large Wall Street financial firms to manage their investments in FOREX.
The reality of the intraday trader is that you execute orders for large lots at the same time, to profit from the smallest movements in the market. It is an activity based on reflexes. The slightest oversight or distraction can turn into a catastrophe for your FOREX investments.
I recommend that you start investing in FOREX using slow time periods such as H4 or Daily. For some reason, all Goldman Sachs intraday FOREX investments are made with algorithms.

Finally…

To choose your style as a trader and manage your investments in FOREX, first determine what your degree of experience is, analyze the points mentioned below and the rest you will discover when you execute your first operations.
The points that will affect your decision are:
  • Capital
  • Time available each day
  • Level of Experience
  • Personality
Discovering your style is a search process. For some it will be a long way to find the right time frame that matches their personality. Don't be put off by the falls. After all, those who continue the path despite the falls are the ones who reach the destination.
And I hope you are one of those who get up over and over again. The next lesson will boost your confidence when you discover the main reason that moves currencies ...

Fundamental Analysis in Forex Trading Reddit

The fundamental analysis in Forex is used mostly by long-term investors. Players as we saw in the styles of operators, start a negotiation today, to close it years later.
I always emphasize the importance that the mass media give to this type of analysis to distract the great mass of participants.
It is all part of a great mass psychological manipulation. For centuries the ignorance of the masses has been organized before the great movements begin.
The important news are the macroeconomic reports published by the Central Banks and other government agencies destined for this work. All reports are made up. 99% of them are corrected months later.
These events are tools to justify fundamental analysis and price cleaning movements. Any silly headline does the job. With this, it is possible to absorb most of the existing liquidity, before the new trend phase is projected.

Reaction!

Except in rare situations, the result of an economic report of the fundamental analysis is generally already assimilated in the graph. In most cases, there are financial institutions that already have access to this information and are organizing and carrying out their operations in advance.
The phrase buy the rumor and sell the news is a very old adage on Wall Street. And its meaning contains what we have just explained. For the investor who can interpret the Language of Price, fundamental analysis is of little importance. Well, in general, their disclosure does not indicate that you have to take any action in your open trades , as long as your entry strategy provides you with a good support cushion.
This reality of fundamental analysis causes a lot of confusion for investors who lack in-depth knowledge of the forex market.

Macroeconomic Data

The data published in these events is irrelevant. Both for speculators and for the people in general. They are false. They lack reliability.
The price can go up or down with the same result of the data. The main ones are:
- Interest Rates - GDP (gross domestic product) - CPI (inflation) - ISM (manufacturing index) - NFP (payroll) - Double Deficits (deficit = fiscal + balance of payments)
If you are initiated, I recommend you avoid operating near these events. It is only a matter of having the time pending. Use the economic calendar for Fundamental Analysis of Forex Factory.
There is a probabilistic advantage in operating these fundamental analysis events. But it takes preparation, experience, and practice. They represent a way of diversifying in the general operation of a speculator.

The Uncertainty of Fundamental Analysis

On many occasions after the disclosure of an economic report, the price movement of the currency pair that is going to be affected tends to move in the opposite direction to the logic of the report.
I show you an example of a fundamental analysis report. Imagine that the EUR / USD pair is trading at 1.2500, and the FED (US Federal Reserve) issues a statement announcing that it has just raised inter-bank interest rates from 0.25 points to 0.75 points. Very positive news for the US dollar that logically implies an appreciation of the currency and consequently an instantaneous collapse of the EUR / USD pair (up the dollar and down the euro)
However, minutes after the release of said fundamental analysis report, the pair after effectively collapsing to 1.2400, returns and returns to its levels prior to the report (1.2500). This situation is very common , but it is not so easy to identify it when it is occurring, but after the damage is done.
Traps like these devour the accounts of beginners who approach the market with little experience, with weak strategies, and especially with very little experience.
That is why I reiterate that you forget the fundamental analysis for now. Just keep in mind when operating, that there is no publication scheduled nearby. Just check the economic calendar for the day and forget about the numbers. Let the economists mess around with the data.

FOREX Market Correlation

The Forex market correlation exists between pairs with similar "base" currencies and not always under the same circumstances. The correlation in the Forex market that is most followed and that has the greatest impact on fundamental analysis is that of the US dollar (USD).
The USD is the most traded monetary unit with a volume greater than 80% with respect to the rest of the currencies. This fact determines why their correlation is the most important, the most followed, and perhaps the only one worth following in the fundamental macro analysis.
The 7 major pairs are usually in sync . These 7 pairs all include the USD and present a fundamental analysis correlation almost 75% of the time. Influencing the rest of the currency pairs.

Advantages of the FOREX Market Correlation

In the fundamental analysis the most basic FOREX correlation is the following. When the USD appreciates, the USD / CAD, USD / CHF, and USD / JPY pairs tend to go up in price. This indicates that the Canadian dollar (CAD), the Swiss franc (CHF), and the Japanese yen (JPY) are losing value against the USD.
We must bear in mind that this correlation does not occur 100% of the time. In fact, the JPY generally tends to move in the opposite direction , since in recent decades this currency has been used as a source of financing to invest in other financial instruments.
On the other side is the FOREX market correlation that generates a movement almost in unison in the other 4 major pairs EUR / USD, GBP / USD, AUD / USD, and NZD / USD. These tend to fall in price, homologous the appreciation of the USD. But not always.
In this case the fundamental analysis correlation works most of the time, between 65 and 85% of the time. Small differences are noted in the extent that each of these pairs experiences.
There is also a correlation in the secondary FOREX market, where the pairs of all currencies that do not include the USD participate, but I recommend you not to waste time on them for now. There are more important things about the Language of Price to know first.

FOREX Commodity Correlation

In this part I will explain to you in a basic way the Correlation Commodities - FOREX of the fundamental analysis.
There are three currencies that have a direct correlation with commodities. They are usually called: "COMDOLLS" which is short for "Commodities Dollars" (Commodities Dollars), since all three obey the dollar denomination. These are:
- The New Zealand Dollar (NZD) - The Australian Dollar (AUD) - The Canadian Dollar (CAD)
These three currencies make up the group of the 8 largest together with the euro, the pound, the yen, the franc and the US dollar. Together, they merge to produce the major pairs traded in the FOREX Foreign Exchange Market.
The FOREX Commodity Correlation has an affinity in most cases greater than 75%. And each of them has its different raw material of correlation. You will notice that the NZD and the AUD are two currencies that act practically in unison. Both present minimal discrepancies in their fluctuations in the short, medium and long term.
This is mainly because their economies are very similar and their economic and fiscal policies are too. Their main production items also show great similarities, despite the fact that the Australian economy is much larger than the New Zealand economy.
The raw materials that follow the movement of the AUD are mainly gold and copper. If you put the history of these three quotes during the last decade of the year 2,000 together on the same chart, you will notice a very similar upward movement between the three quotes. Pure correlation of fundamental analysis.
This strong correlation with commodities in the metals area for the AUD has provided Australia with an economic advantage enviable over the other major powers that have seen their currencies devalue sharply against the AUD. At the same time, they experience a constant decrease in the purchasing power of their citizens.
The NZD maintains a correlation with raw materials related to agriculture and livestock, mainly including milk and its derivatives. It is one of the countries that dominates the world export of these economic items, and also has important exports of metals , although in smaller quantities than Australia.
Finally, you have a correlation with raw materials in the energy area. For historical reasons the CAD, which is not the largest oil producer in the world, but an important supplier to the largest consumer that is the US, has seen its currency oscillate in line with oil prices.
To make long-term investments in the Foreign Exchange Market, it is necessary to take into consideration at least one Commodity Correlation - FOREX in your fundamental analysis.

Forex Technical Analysis Reddit

The technical analysis is the methodology that interprets the movements of the price. Specialists look for liquidity to fund their business. The repetition of the strategies used by the specialists in their work generate repetitive patterns.
If you were an analyst, you would develop the visual ability to identify such patterns on a graph. If you were a programmer you would quantify them mathematically using complex formulas.
And if you could learn to interpret the Language of Price, you would have the ability to anticipate 90% of all movements that occur on a chart. And in this business, anticipating is what will make you money.
Market prices are reflected and framed on a horizontal time axis and a vertical price axis. Prices go up or down according to the aggressiveness of the participating operators. In an efficient or balanced market these oscillations should be imperceptible.
But in reality this is not the case, since the Market works thanks to the digital printing of hundreds of billions of units of paper money systematically distributed by the Central Banks through the banking system. These resources serve as a tool to manipulate 100% of the movements that occur in the FOREX Market.
Are you looking for Technical Indicators? All technical indicators were created from the 70's. How do you think that for more than 200 years the speculators of the past accumulated great wealth?
With the Language of Price. The best timing is given by the price itself. Indicator-generated entry signals usually occur at the wrong time.
The basis of technical analysis is human psychology. Unfortunately, human beings are not perfect and are loaded with emotions that dominate their behavior in similar situations, creating repetitive and highly predictable behavior when it occurs in masses.
The study of technical analysis through indicators and subjective training, originates and shapes the collective thinking on which all the traps that specialists execute every day to maintain their business are designed. If the majority won, the Market would cease to exist.
Although you already know that the patterns are not generated by the masses , but the repetitive behavior of the Specialists in the face of the action response of the masses. It is very easy for speculaists, because they can see everyone's orders in their books.
And they also exert a great influence on the decisions of the masses through the mass media. It is what I call the war between the Egg and the Stone , if you hit me you win and if I hit you also you win.

The Deception of Modern Technical Analysis

Through the centuries thousands of people have been able to extract great benefits from the financial markets by applying the basic strategies of technical analysis and the psychology of the Price Language.
More than 200 years ago when the markets began to operate officially, fundamental analysis predominated, which was only used by large financial institutions. As this analysis tool began to become popular, these institutions began to apply the strategies of technical analysis.
In recent decades and with the massification of internet technology, technical analysis has begun to be handled by anyone who has a computer with internet access. The same financial institutions, which have been present for more than a century and as a result of this overcrowding , establish a strategy to confuse and misinform about the true strategies of technical analysis.
This has been accomplished in the following manner. Currently there are hundreds, if not thousands of technical indicators that have been developed by so-called "gurus" of technical analysis and that sell their magic indicators packed in a "system" or "method" that usually cost thousands of dollars, or simply with the publication of a book with which they generate large profits. Double benefit.
The aim is to confuse the initiates in speculation and create the collective mentality that will originate the same behaviors over and over again. About 95% of these new entrants completely lose all the capital they invest in their early stages as investors.
Leaving them with a negative experience and creating the idea and the image that financial markets are an exclusive area for geniuses with high academic levels and that only they can produce returns in the markets year after year.
The initiate, having lost all his original capital, turns to these “gurus” for help and teachings. You spend more capital on the products they offer you and the cycle repeats itself . Obviously, the vast majority do not relapse and completely forget to re-engage in the stock markets.
I hope you have not been a victim of this drama.
Now I will show you the simplicity of a FOREX technical analysis , without the need to resort to any indicator as a tool to determine an effective entry or exit strategy when planning your operations.

The Price Cycle

Previously you studied in the FOREX strategies lesson, that the typical price cycle when it is reflected in a graph, presents four very specific phases and very easy to identify if you perform a technical analysis with common sense . These are:
  • Accumulation
  • Bullish trend
  • Distribution
  • Bearish trend
Remember also that the most effective way to constantly extract profits in the markets is by taking advantage of phases 2 and 4 (the trends). Combined with a correct reading of the collective behavior of the masses of speculators interpreting the Language of Price.
You will be surprised by the simplicity with which thousands of people around the world and over the centuries have accumulated large sums of money by drawing a few simple lines and applying responsible risk management with their capital.

How to Identify Trends?

Being able to determine the trend phases within the price cycle is the essence of technical analysis since it is these two phases that provide you with the probabilistic advantage you need to operate in the markets and obtain constant returns.
In the most plain and simple language, in the world of technical analysis, there are only two types of formations: trends and ranges.
The trends, in turn, can be bullish if they go up, or bearish if they go down. The ranges, on the other hand, can be accumulation if they are at the beginning of the cycle, or distribution if they are in the high part of the cycle. As I had indicated in the topic of FOREX strategies when describing the price cycle.
This sounds more like a play on words, but I will show you the practical definition to simplify your life and then you will apply these definitions on the graph so that everything makes more sense to you.
  • Bullish trend: a succession of major highs and major lows
  • Bearish trend: a succession of minor highs and minor lows
  • Floor Range: equal highs and varied lows
  • Ceiling Range: equal minimums and varied maximums
https://preview.redd.it/vvmsshf0guv51.png?width=600&format=png&auto=webp&s=c321679a7dcc03f7184778be86379ef442fddf91
Some key points from the graph:
  • The start of this big uptrend was detected when the last high (thick green line) of the previous downtrend was broken to the upside, ending the succession of lower highs, while exiting the lateral floor formation.
  • The succession of major lows in the uptrend (thin blue lines)
  • The succession of major highs in the uptrend (thin green lines)
  • The end of the uptrend was detected when the last low (thick blue line) of the uptrend was broken to the downside, ending the succession of higher lows, while exiting the lateral ceiling formation.
A tool that will help you sharpen your technical eye and identify trends on the chart is the Currency Scanner. This application is very effective and will provide you with a much-needed boost in your operations to identify reliable trends. At first, we are not sure how reliable a trend is. You will receive great help to find opportunities with the Currency Scanner .

The Common Sense, The Less Common of Senses

The central idea of ​​technical analysis consists in determining the price situation of a market, that is, in which phase of the pattern of its cycle it is currently conjugated with the collective thinking of the masses and the possible traps that the market would have prepared to remove. the capital at stake by the public.
To carry out a precise technical analysis, you will use the support and resistance lines, which can be static (horizontal) or dynamic (projecting an angle with respect to the horizontal axis).
Your common sense prevails here.
If you show a 10-year-old a chart, they will be able to tell you if the price is going up or down. You will most likely have no idea how to draw the lines, but you will be able to establish the general trend. Simply using your common sense.
By introducing indicators and other gadgets , the simplicity and effectiveness of the technical analysis created by your common sense evaporates.
The following graph conceptually shows you all the possible situations in which you could draw these lines to carry out your technical analysis of the place. You can clearly observe a downtrend delimited by its dynamic trend line and an uptrend on the right side with its respective dynamic delimitation.
https://preview.redd.it/5iehg0r6guv51.png?width=500&format=png&auto=webp&s=84c265a5d35da7ea970792c4bf40fe20b33bd8bd

Forex Charts Analysis

I want to remind you that the formations or patterns that develop on the charts (triangles, wedges, pennants, boxes, etc.) only work to execute trades that have initially been confirmed by the static support and resistance lines and to read the collective thinking of the masses.
Chart formations work, but you must know the Language of Price to determine when the Specialists will exploit a chartist figure, or when they will allow it to run. In fact, you will learn with the Language that you can operate a chart figure in any direction.
Much of the "mentalization" that the masses receive is to believe that the figures are made to be respected. Which is an inefficient way of working. Simply because you could wait days or months for a perfect chart figure to occur in order to perform a reliable trade. When in fact there are dozens every day.

Japanese Candles

Of all the tools you have to carry out technical analysis, perhaps the best known and most popular is the Japanese technique of candles (candlesticks).
Candles are mainly used to identify reversal points on the chart without resorting to confirmation of horizontal trend lines and only using a previous bar or candle breaks.
Its correct use is subject to a multi-time analysis (multiple temporalities) and a general evaluation of the context proposed by the market in general at the time of each scenario.
Later I will show you all the important details to take into account so that you use Japanese candles in a simple and very effective way.
Do not forget ... Trading in your beginnings based on formations (chartism) and candlestick patterns conjugated with hundreds of tools and technical indicators, constitutes the perfect path to your failure. Before using any strategy or technique I recommend you focus on learning the Price Language, which includes 3 basic things:
  • The Price: structure and dynamics
  • Market sentiment: relative strength, external shocks, etc.
  • Psychology: flexible mindset and risk acceptance
After you acquire this solid foundation, I guarantee that you will be able to trade any trading system that exists, any strategy, technique or chart figure in a profitable and consistent manner.
Specialists make money every day at the expense of the collective behavior caused by the use of these strategies and techniques. With which you will only manage to lose your capital and your time by putting the cart in front of the horse.
People who do the opposite, at best become,
... Philosophers of Speculation, or indocile Robot Assistants or Expert Advisors.
To make money in any market condition, range or trend, you must use the technical analysis based on the Price Language and combine it with a correct psychological reading of the price. This knowledge can only be acquired through proper education and lots of supervised practice. Like any other career in life.
I hope you've found this guide helpful!
submitted by kayakero to makemoneyforexreddit [link] [comments]

Forex Trading Basics Reddit - Forex Glossary Terms For Beginners

Forex Trading Basics Reddit - Forex Glossary Terms For Beginners

What is Forex - Terminology

https://preview.redd.it/pmjpy8sqh1x51.jpg?width=580&format=pjpg&auto=webp&s=b02715d6d6f153592a967f577c18578363ca731c
The FOREX market is the largest financial market in the world. On a daily basis, trillions of dollars are traded in different currencies around the world.
Being FOREX the basis for international capital transactions, its liquidity and volume are much greater than any other financial market. It is estimated that the average volume traded by the world's largest stock exchange, the New York Stock Exchange (NYSE) in a full month, is equal to the volume traded daily in the Forex currency market. In addition, it is estimated that this volume will increase by 25% annually.
80% of transactions are between the US dollar (USD), the euro (EUR), the yen (JPY), the British pound (GBP), the Swiss franc (CHF), and the Australian dollars (AUD) and Canadian (CAD).

What is traded in the Forex market?

We could just say that money. Trading in FOREX simultaneously involves buying one currency (for example euros) and selling another (for example US dollars). These simultaneous purchase and sale operations are carried out through online brokers. Operations are specified in pairs; for example the euro and the dollar (EUR / USD) or the pound sterling and the Yen (GBP / JPY).
These types of transactions can be somewhat confusing at first since nothing is being purchased physically. Basically, each currency is tied to the economy of its respective country and its value is a direct reflection of people's perception of that economy. For example, if there is a perception that the economy in Japan is going to weaken, the Yen is likely to be devalued against other currencies. In other words, people are going to sell Yen and they are going to buy currencies from countries where the economy is or will be better than Japan.
In general, the exchange of one currency for another reflects the condition of the health of the economy of that country with respect to the health of the economy of other countries.
Unlike other financial markets such as the stock market, the currency market does not have a fixed location like the largest exchanges in the world. These types of markets are known as OTC (Over The Counter). Transactions take place independently around the world, mainly over the Internet, and prices can vary from place to place.
Due to its decentralized nature, the foreign exchange market is operated 24 hours a day from Monday to Friday.
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Forex Trading Basics - Basic Forex Terminology

https://preview.redd.it/657dbjqvf1x51.jpg?width=421&format=pjpg&auto=webp&s=bd99eac3d8c68916078b089fc4af5ba14db289fc
As with any new skill that is learned, it is also necessary to learn its terminology. There are certain terms that you must know before you start trading Forex. Here are the main ones.

• Major and minor currencies

The 8 most widely used currencies (USD, EUR, JPY, GBP, CHF, CAD, NZD, and AUD) are known as “ major currencies ”. All other currencies are called " minor currencies ." You don't need to worry about minor currencies, as you probably won't start trading them for now. The USD, EUR, JPY, GBP, and CHF currencies are the most popular and most liquid currencies on the market.

• Base currency

The base currency is the first currency in any currency pair. It shows how much the base currency is worth against the second currency. For example, if the USD / CHF has a rate of 1.6350, it means that 1 USD is worth 1.6350 CHF. In the forex market, the US dollar is in many cases the base currency to make quotes, the quotes are expressed in units of $ 1 on the other currency of the pair.
In some other pairs, the base currency is the British pound, the euro, the Australian dollar, or the New Zealand dollar.

• Quoted currency

The quote currency is the second currency in the currency pair. This is often referred to as a "pip-currency" and any unrealized gains or losses are expressed in this currency.

• Pip

A pip is the smallest unit of the price of any currency. Almost all currencies consist of 5 significant digits and most pairs have the decimal point immediately after the first digit. For example EUR / USD = 1.2538, in this case, a pip is the smallest change in the fourth decimal space, which is, 0.0001.
A notable exception is the USD / JPY pair where the pip equals $ 0.01.

• Purchase price (bid)

The buying price (bid) is the price at which the market is ready to buy a specific currency in the Forex market. At this price, one can sell the base currency. The purchase price is displayed on the left side.
For example, in GBP / USD = 1.88112 / 15, the selling price is 1.8812. This means that you can sell a GPB for $ 1.8812.

• Sale Price (ask)

The asking price is the price at which the market is ready to sell a specific currency pair in the Forex market. At this price, you can buy the base currency. The sale price is displayed on the right-hand side.
For example, at EUR / USD = 1.2812 / 15, the selling price here is 1.2815. This means that you can buy one euro for $ 1.2815. The selling price is also called the bid price.

• Spread

All Forex quotes include two prices, the bid (offer) and the ask (demand).
The bid is the price at which the broker is willing to buy the base currency in exchange for the quoted currency. This means that the bid is the price at which you can sell.
The ask is the price at which the broker is willing to sell the base currency in exchange for the quoted currency. This means that the ask is the price at which you will buy. The difference between the bid and the ask is popularly known as the spread and is the consideration that the online broker receives for its services.

• Transaction costs

The transaction cost, which could be said to be the same as the Spread, is calculated as: Transaction Cost = Ask - Bid. It is the number of pips that are paid when opening a position. The final amount also depends on the size of the operation.
It is important to note that depending on the broker and the volatility, the difference between the ask and the bid can increase, making it more expensive to open a trade. This generally happens when there is a lot of volatility and little liquidity, as happens during the announcement of some relevant economic data.

• Cross currency

A cross-currency is any pair where one of the currencies is the US dollar (USD). These pairs show an erratic price behavior when the operator opens two operations in US dollars. For example, opening a long trade to buy EUR / GPB is equivalent to buying EUR / USD and selling GPB / USD. Cross-currency pairs generally carry a higher transaction cost.

• Margin

When you open a new account margin with a Forex broker, you must deposit a minimum amount of money to your broker. This minimum varies depending on each broker and can be as low as € / $ 100 at higher amounts.
Each time a new trade is executed a percentage of your account margin balance will be the initial margin required for a new trade based on the underlying currency pair, current price, and the number of units (or lots) of the trade. .
For example, let's say you open a mini account which gives you a leverage of 1: 200 or a margin of 0.5%. Mini accounts work with mini lots. Suppose a mini lot equals $ 10,000. If you are about to open a mini lot, instead of having to invest $ 10,000, you will only need $ 50 ($ 10,000 x 0.5% = $ 50).

• Leverage

Leverage is the ratio of the capital used in a transaction to the required deposit. It is the ability to control large amounts of dollars with relatively less capital. Leverage varies drastically depending on the broker, it can go from 1: 2 to even 1: 2000. The most common level of leverage in Forex can currently be around 1: 200.

• Margin + leverage = dangerous combination

Trading currencies on margin allows you to increase your buying power. This means that if you have $ 5,000 in account margin that allows you a 1: 100 leverage, you can then buy $ 500,000 in foreign exchange as you only have to invest a percentage of the purchase price. Another way of saying this is that you have $ 500,000 in purchasing power.
With more purchasing power you can greatly increase your potential profits without an outlay of cash. But be careful, working with a high margin increases your profits but also your losses if the trade does not progress in your favor.
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submitted by kayakero to makemoneyforexreddit [link] [comments]

H1 Backtest of ParallaxFX's BBStoch system

Disclaimer: None of this is financial advice. I have no idea what I'm doing. Please do your own research or you will certainly lose money. I'm not a statistician, data scientist, well-seasoned trader, or anything else that would qualify me to make statements such as the below with any weight behind them. Take them for the incoherent ramblings that they are.
TL;DR at the bottom for those not interested in the details.
This is a bit of a novel, sorry about that. It was mostly for getting my own thoughts organized, but if even one person reads the whole thing I will feel incredibly accomplished.

Background

For those of you not familiar, please see the various threads on this trading system here. I can't take credit for this system, all glory goes to ParallaxFX!
I wanted to see how effective this system was at H1 for a couple of reasons: 1) My current broker is TD Ameritrade - their Forex minimum is a mini lot, and I don't feel comfortable enough yet with the risk to trade mini lots on the higher timeframes(i.e. wider pip swings) that ParallaxFX's system uses, so I wanted to see if I could scale it down. 2) I'm fairly impatient, so I don't like to wait days and days with my capital tied up just to see if a trade is going to win or lose.
This does mean it requires more active attention since you are checking for setups once an hour instead of once a day or every 4-6 hours, but the upside is that you trade more often this way so you end up winning or losing faster and moving onto the next trade. Spread does eat more of the trade this way, but I'll cover this in my data below - it ends up not being a problem.
I looked at data from 6/11 to 7/3 on all pairs with a reasonable spread(pairs listed at bottom above the TL;DR). So this represents about 3-4 weeks' worth of trading. I used mark(mid) price charts. Spreadsheet link is below for anyone that's interested.

System Details

I'm pretty much using ParallaxFX's system textbook, but since there are a few options in his writeups, I'll include all the discretionary points here:

And now for the fun. Results!

As you can see, a higher target ended up with higher profit despite a much lower winrate. This is partially just how things work out with profit targets in general, but there's an additional point to consider in our case: the spread. Since we are trading on a lower timeframe, there is less overall price movement and thus the spread takes up a much larger percentage of the trade than it would if you were trading H4, Daily or Weekly charts. You can see exactly how much it accounts for each trade in my spreadsheet if you're interested. TDA does not have the best spreads, so you could probably improve these results with another broker.
EDIT: I grabbed typical spreads from other brokers, and turns out while TDA is pretty competitive on majors, their minors/crosses are awful! IG beats them by 20-40% and Oanda beats them 30-60%! Using IG spreads for calculations increased profits considerably (another 5% on top) and Oanda spreads increased profits massively (another 15%!). Definitely going to be considering another broker than TDA for this strategy. Plus that'll allow me to trade micro-lots, so I can be more granular(and thus accurate) with my position sizing and compounding.

A Note on Spread

As you can see in the data, there were scenarios where the spread was 80% of the overall size of the trade(the size of the confirmation candle that you draw your fibonacci retracements over), which would obviously cut heavily into your profits.
Removing any trades where the spread is more than 50% of the trade width improved profits slightly without removing many trades, but this is almost certainly just coincidence on a small sample size. Going below 40% and even down to 30% starts to cut out a lot of trades for the less-common pairs, but doesn't actually change overall profits at all(~1% either way).
However, digging all the way down to 25% starts to really make some movement. Profit at the -161.8% TP level jumps up to 37.94% if you filter out anything with a spread that is more than 25% of the trade width! And this even keeps the sample size fairly large at 187 total trades.
You can get your profits all the way up to 48.43% at the -161.8% TP level if you filter all the way down to only trades where spread is less than 15% of the trade width, however your sample size gets much smaller at that point(108 trades) so I'm not sure I would trust that as being accurate in the long term.
Overall based on this data, I'm going to only take trades where the spread is less than 25% of the trade width. This may bias my trades more towards the majors, which would mean a lot more correlated trades as well(more on correlation below), but I think it is a reasonable precaution regardless.

Time of Day

Time of day had an interesting effect on trades. In a totally predictable fashion, a vast majority of setups occurred during the London and New York sessions: 5am-12pm Eastern. However, there was one outlier where there were many setups on the 11PM bar - and the winrate was about the same as the big hours in the London session. No idea why this hour in particular - anyone have any insight? That's smack in the middle of the Tokyo/Sydney overlap, not at the open or close of either.
On many of the hour slices I have a feeling I'm just dealing with small number statistics here since I didn't have a lot of data when breaking it down by individual hours. But here it is anyway - for all TP levels, these three things showed up(all in Eastern time):
I don't have any reason to think these timeframes would maintain this behavior over the long term. They're almost certainly meaningless. EDIT: When you de-dup highly correlated trades, the number of trades in these timeframes really drops, so from this data there is no reason to think these timeframes would be any different than any others in terms of winrate.
That being said, these time frames work out for me pretty well because I typically sleep 12am-7am Eastern time. So I automatically avoid the 5am-6am timeframe, and I'm awake for the majority of this system's setups.

Moving stops up to breakeven

This section goes against everything I know and have ever heard about trade management. Please someone find something wrong with my data. I'd love for someone to check my formulas, but I realize that's a pretty insane time commitment to ask of a bunch of strangers.
Anyways. What I found was that for these trades moving stops up...basically at all...actually reduced the overall profitability.
One of the data points I collected while charting was where the price retraced back to after hitting a certain milestone. i.e. once the price hit the -61.8% profit level, how far back did it retrace before hitting the -100% profit level(if at all)? And same goes for the -100% profit level - how far back did it retrace before hitting the -161.8% profit level(if at all)?
Well, some complex excel formulas later and here's what the results appear to be. Emphasis on appears because I honestly don't believe it. I must have done something wrong here, but I've gone over it a hundred times and I can't find anything out of place.
Now, you might think exactly what I did when looking at these numbers: oof, the spread killed us there right? Because even when you move your SL to 0%, you still end up paying the spread, so it's not truly "breakeven". And because we are trading on a lower timeframe, the spread can be pretty hefty right?
Well even when I manually modified the data so that the spread wasn't subtracted(i.e. "Breakeven" was truly +/- 0), things don't look a whole lot better, and still way worse than the passive trade management method of leaving your stops in place and letting it run. And that isn't even a realistic scenario because to adjust out the spread you'd have to move your stoploss inside the candle edge by at least the spread amount, meaning it would almost certainly be triggered more often than in the data I collected(which was purely based on the fib levels and mark price). Regardless, here are the numbers for that scenario:
From a literal standpoint, what I see behind this behavior is that 44 of the 69 breakeven trades(65%!) ended up being profitable to -100% after retracing deeply(but not to the original SL level), which greatly helped offset the purely losing trades better than the partial profit taken at -61.8%. And 36 went all the way back to -161.8% after a deep retracement without hitting the original SL. Anyone have any insight into this? Is this a problem with just not enough data? It seems like enough trades that a pattern should emerge, but again I'm no expert.
I also briefly looked at moving stops to other lower levels (78.6%, 61.8%, 50%, 38.2%, 23.6%), but that didn't improve things any. No hard data to share as I only took a quick look - and I still might have done something wrong overall.
The data is there to infer other strategies if anyone would like to dig in deep(more explanation on the spreadsheet below). I didn't do other combinations because the formulas got pretty complicated and I had already answered all the questions I was looking to answer.

2-Candle vs Confirmation Candle Stops

Another interesting point is that the original system has the SL level(for stop entries) just at the outer edge of the 2-candle pattern that makes up the system. Out of pure laziness, I set up my stops just based on the confirmation candle. And as it turns out, that is much a much better way to go about it.
Of the 60 purely losing trades, only 9 of them(15%) would go on to be winners with stops on the 2-candle formation. Certainly not enough to justify the extra loss and/or reduced profits you are exposing yourself to in every single other trade by setting a wider SL.
Oddly, in every single scenario where the wider stop did save the trade, it ended up going all the way to the -161.8% profit level. Still, not nearly worth it.

Correlated Trades

As I've said many times now, I'm really not qualified to be doing an analysis like this. This section in particular.
Looking at shared currency among the pairs traded, 74 of the trades are correlated. Quite a large group, but it makes sense considering the sort of moves we're looking for with this system.
This means you are opening yourself up to more risk if you were to trade on every signal since you are technically trading with the same underlying sentiment on each different pair. For example, GBP/USD and AUD/USD moving together almost certainly means it's due to USD moving both pairs, rather than GBP and AUD both moving the same size and direction coincidentally at the same time. So if you were to trade both signals, you would very likely win or lose both trades - meaning you are actually risking double what you'd normally risk(unless you halve both positions which can be a good option, and is discussed in ParallaxFX's posts and in various other places that go over pair correlation. I won't go into detail about those strategies here).
Interestingly though, 17 of those apparently correlated trades ended up with different wins/losses.
Also, looking only at trades that were correlated, winrate is 83%/70%/55% (for the three TP levels).
Does this give some indication that the same signal on multiple pairs means the signal is stronger? That there's some strong underlying sentiment driving it? Or is it just a matter of too small a sample size? The winrate isn't really much higher than the overall winrates, so that makes me doubt it is statistically significant.
One more funny tidbit: EUCAD netted the lowest overall winrate: 30% to even the -61.8% TP level on 10 trades. Seems like that is just a coincidence and not enough data, but dang that's a sucky losing streak.
EDIT: WOW I spent some time removing correlated trades manually and it changed the results quite a bit. Some thoughts on this below the results. These numbers also include the other "What I will trade" filters. I added a new worksheet to my data to show what I ended up picking.
To do this, I removed correlated trades - typically by choosing those whose spread had a lower % of the trade width since that's objective and something I can see ahead of time. Obviously I'd like to only keep the winning trades, but I won't know that during the trade. This did reduce the overall sample size down to a level that I wouldn't otherwise consider to be big enough, but since the results are generally consistent with the overall dataset, I'm not going to worry about it too much.
I may also use more discretionary methods(support/resistance, quality of indecision/confirmation candles, news/sentiment for the pairs involved, etc) to filter out correlated trades in the future. But as I've said before I'm going for a pretty mechanical system.
This brought the 3 TP levels and even the breakeven strategies much closer together in overall profit. It muted the profit from the high R:R strategies and boosted the profit from the low R:R strategies. This tells me pair correlation was skewing my data quite a bit, so I'm glad I dug in a little deeper. Fortunately my original conclusion to use the -161.8 TP level with static stops is still the winner by a good bit, so it doesn't end up changing my actions.
There were a few times where MANY (6-8) correlated pairs all came up at the same time, so it'd be a crapshoot to an extent. And the data showed this - often then won/lost together, but sometimes they did not. As an arbitrary rule, the more correlations, the more trades I did end up taking(and thus risking). For example if there were 3-5 correlations, I might take the 2 "best" trades given my criteria above. 5+ setups and I might take the best 3 trades, even if the pairs are somewhat correlated.
I have no true data to back this up, but to illustrate using one example: if AUD/JPY, AUD/USD, CAD/JPY, USD/CAD all set up at the same time (as they did, along with a few other pairs on 6/19/20 9:00 AM), can you really say that those are all the same underlying movement? There are correlations between the different correlations, and trying to filter for that seems rough. Although maybe this is a known thing, I'm still pretty green to Forex - someone please enlighten me if so! I might have to look into this more statistically, but it would be pretty complex to analyze quantitatively, so for now I'm going with my gut and just taking a few of the "best" trades out of the handful.
Overall, I'm really glad I went further on this. The boosting of the B/E strategies makes me trust my calculations on those more since they aren't so far from the passive management like they were with the raw data, and that really had me wondering what I did wrong.

What I will trade

Putting all this together, I am going to attempt to trade the following(demo for a bit to make sure I have the hang of it, then for keeps):
Looking at the data for these rules, test results are:
I'll be sure to let everyone know how it goes!

Other Technical Details

Raw Data

Here's the spreadsheet for anyone that'd like it. (EDIT: Updated some of the setups from the last few days that have fully played out now. I also noticed a few typos, but nothing major that would change the overall outcomes. Regardless, I am currently reviewing every trade to ensure they are accurate.UPDATE: Finally all done. Very few corrections, no change to results.)
I have some explanatory notes below to help everyone else understand the spiraled labyrinth of a mind that put the spreadsheet together.

Insanely detailed spreadsheet notes

For you real nerds out there. Here's an explanation of what each column means:

Pairs

  1. AUD/CAD
  2. AUD/CHF
  3. AUD/JPY
  4. AUD/NZD
  5. AUD/USD
  6. CAD/CHF
  7. CAD/JPY
  8. CHF/JPY
  9. EUAUD
  10. EUCAD
  11. EUCHF
  12. EUGBP
  13. EUJPY
  14. EUNZD
  15. EUUSD
  16. GBP/AUD
  17. GBP/CAD
  18. GBP/CHF
  19. GBP/JPY
  20. GBP/NZD
  21. GBP/USD
  22. NZD/CAD
  23. NZD/CHF
  24. NZD/JPY
  25. NZD/USD
  26. USD/CAD
  27. USD/CHF
  28. USD/JPY

TL;DR

Based on the reasonable rules I discovered in this backtest:

Demo Trading Results

Since this post, I started demo trading this system assuming a 5k capital base and risking ~1% per trade. I've added the details to my spreadsheet for anyone interested. The results are pretty similar to the backtest when you consider real-life conditions/timing are a bit different. I missed some trades due to life(work, out of the house, etc), so that brought my total # of trades and thus overall profit down, but the winrate is nearly identical. I also closed a few trades early due to various reasons(not liking the price action, seeing support/resistance emerge, etc).
A quick note is that TD's paper trade system fills at the mid price for both stop and limit orders, so I had to subtract the spread from the raw trade values to get the true profit/loss amount for each trade.
I'm heading out of town next week, then after that it'll be time to take this sucker live!

Live Trading Results

I started live-trading this system on 8/10, and almost immediately had a string of losses much longer than either my backtest or demo period. Murphy's law huh? Anyways, that has me spooked so I'm doing a longer backtest before I start risking more real money. It's going to take me a little while due to the volume of trades, but I'll likely make a new post once I feel comfortable with that and start live trading again.
submitted by ForexBorex to Forex [link] [comments]

Những thuật ngữ trong giao dịch forex

Đối với nhiều người mới tìm hiểu về forex, việc hiểu ý nghĩa các thuật ngữ chuyên môn trước khi tham gia giao dịch forex là điều bắt buộc. Rất nhiều lần, tôi nhận được câu hỏi dạng như thế này: Tôi hoàn toàn chưa biết gì về forex, tôi nên bắt đầu từ đâu? Ở bài viết này, tôi sẽ giải đáp một số từ ngữ chuyên môn trong forex cho các bạn nắm bắt được khái niệm cơ bản trước khi bước vào giao dịch forex demo để trade thử.
1. Đồng tiền chính và đồng tiền phụ
Trong Forex có 8 loại tiền thường được giao dịch là USD, EUR, JPY, GBP, CHF, CAD, NZD và AUD được gọi là các đồng tiền chính. Đây là các đồng tiền có thanh khoản cao và sức hấp dẫn. Những đồng tiền còn lại được xem là các đồng tiền phụ.
2. Đồng tiền yết giá
Là đồng tiền nằm trước trong mỗi cặp tiền được yết giá. Nó thể hiện giá trị của đồng tiền này, tức là muốn đổi được 1 đồng tiền yết giá phải tốn bao nhiêu đồng tiền đi cặp với nó. Ví dụ như tỷ giá USDCHF là 1.6350 tức là 1 USD đáng giá 1.6350 CHF. Trong thị trường tài chính thì thường đồng USD đóng vai trò yết giá, chỉ trong một số trường hợp là không phải như các cặp EURUSD, GBPUSD, AUDUSD và NZDUSD.
3. Đồng tiền định giá
Là đồng tiền đứng sau trong các cặp tiền.
4. Pip
Là đơn vị nhỏ nhất của giá trong các đồng tiền. Hầu như các cặp tiền đều có 4 số thập phân nên pip là đơn vị nhỏ nhất, tương đương với 0.0001, như vậy, thường 1 pip tương đương với 1/100 cent của Mỹ nếu trường hợp USD đóng vai trò đồng tiền định giá. Trong trường hợp đồng tiền định giá là JPY thì 1 pip tương đương với 0.01.
5. Pipette
1 pipette tức là 1/10 của pip. Pipette tùy theo cty báo giá sẽ có hoặc không có. Pipette là con số thập phân thứ 5 trong báo giá. Ví dụ nếu EURUSD có báo giá là 1.32156 tăng lên 1.32158 thì đó là tăng 2 pipette.
6. Bid
Là giá mà ngân hàng hoặc cty môi giới mua một đồng tiền nào đó và cũng là giá mà nếu bạn bán ra thị trường, bạn sẽ được khớp giá này. Giá này là giá đưng trước trong báo giá
Ví dụ báo giá là GBPUSD : 1.8812/1.8815 thì giá Bid là 1.8812, có nghĩa là nếu bạn bán cặp tiền này thì thị trường sẽ mua lại ở mức giá 1.8812.
7. Ask/offer price
Là mức giá mà thị trường chào bán cho bạn, tức là nếu bạn đặt lệnh mua thì bạn được khớp giá này. Giá này là giá đứng sau trong báo giá. Ví dụ báo giá của EURUSD là 1.2812/1.2815 thì giá chào bán – ask – là 1.2815, có nghĩa là bạn mua cặp tiền này thì bạn khớp giá 1.2815.
8. Spread
Spread thì chênh lệch giữa giá chào mua / chào bán. Ví dụ như EURUSD là 1.2812/1.2815 thì spread là 3 pips.
Qui định báo giá trên thị trường thường thấy là:
Đồng tiền yết giá / Đồng tiền định giá = Bid / Ask
(ví dụ : GBPUSD = 1.6250/55)
9. Phí giao dịch
Chi phí giao dịch này chính là spread, là khoản phí bạn mất cho 1 giao dịch 1 vòng (bao gồm 1 lệnh mua và 1 lệnh bán cùng 1 khối lượng).
Ví dụ như EURUSD = 1.2812/1.2815 thì chi phí giao dịch (spread) = ask – bid = 3 pips.
10. Cross pair
Là những cặp tiền không không có đồng USD trong đó. Thực ra những cặp tiền này được hình thành từ những cặp tiền có đồng USD, ví dụ như bạn mua cặp tiền EURGBP tức là bạn mua 2 cặp là EURUSD và bán cặp tiền GBPUSD, cụ thể hơn :
Mua EURUSD = mua EUR bán USD
Bán GBPUSD = bán GBP mua USD
Cộng 2 vế 2 bên lại ta được: Mua EURGBP = Mua EUR bán GBP
Như vậy giao dịch cặp EURGBP là giao dịch thông qua 2 cặp EURUSD và GBPUSD
11. Margin
Khi bạn mở tài khoản giao dịch forex, bạn cần bỏ vào đó 1 số tiền và số tiền đó gọi là tiền ký quỹ. Yêu cầu số tiền là bao nhiêu tùy thuộc vào công ty môi giới, có thể là 100 usd hoặc 100.000 usd. Mỗi khi bạn đặt lệnh, sẽ có 1 phần tiền nhất định được giữ như là yêu cầu ký quỹ cần thiết cho lệnh này. Số tiền được giữ tùy theo khối lượng lệnh bạn giao dịch và loại tiền bạn giao dịch.
Ví dụ bạn mở 1 tài khoản mini với đòn bẩy được cho phép là 1:200, tức là 0.5% ký quỹ. Cho rằng mỗi lot mini là 10.000 usd và bạn giao dịch 1 lot mini, cty sẽ yêu cầu bạn phải có 50 usd ký quỹ ban đầu vì 1 lot mini là 10.000 usd x 0.5% tỷ lệ ký quỹ yêu cầu = 50 usd.
12. Đòn bẩy
Là tỷ lệ giữa số vốn cần ký quỹ và số tiền được giao dịch sau khi đã ký quỹ. Điều này giúp chúng ta chỉ cần bỏ 1 số vốn nhỏ để giao dịch 1 số tiền lớn. Đòn bẩy có tỷ lệ khác nhau tùy theo công ty môi giới, mức độ có thể là 1:2 đến 1:500.
submitted by Evony_Investment to u/Evony_Investment [link] [comments]

TODAY’S GBP STRENGTH AND LIVE FOREX TRADING SIGNALS

TODAY’S GBP STRENGTH AND LIVE FOREX TRADING SIGNALS
Today in the main session forex trading the GBP was strong on all pairs in this currency group. This drove strong price movements during the main trading session. Images of the live forex trading signals from The Forex Heatmap® and price chart movement for these pairs is shown below. The GBP/CAD and GBP/AUD both moved higher on the D1 uptrends. The GBP/CAD is inside some resistance levels and the GBP/AUD is inside a zone of resistance after the movements, so scale out lots on any buys on both pairs. These live currency trading signals and trend based trading plans for 28 pairs can be found on our website at Forexearlywarning.com.

Forex Heat Map



https://preview.redd.it/c6i18i0ft2e51.jpg?width=449&format=pjpg&auto=webp&s=f2e55411a5dad87a2d2502aeeb46df7263a55f03
https://preview.redd.it/megprl0ft2e51.jpg?width=412&format=pjpg&auto=webp&s=728736edb5bef903d517a16d27599b91017ef852
submitted by forexalerts to u/forexalerts [link] [comments]

Dollar Index and its impact on USDINR movement

Dollar Index and its impact on USDINR movement

image courtesy : pixabay

Many people in India who are just beginning their career in Currency Derivatives frequently hear about Dollar index. The social media and other platforms full of questions like “What is the Dollar Index?” and how it will impact the Indian currency pairs, especially the USDINR pair. This article will try to explain the US Dollar Index or USDX and its impact on the Indian currency pair.

What is the Dollar Index?

To put in simple words, it is the value of USD relative to the basket of major currency pairs. The value of the USDX tells the strength of the dollar. The six major currency pairs forming the basket along with weight are :
  1. EUR (57.6% )
  2. CHF (Swiss Franc -3.6%)
  3. YEN (Japanese yen — 13.6%)
  4. CAD (Canadian Dollar -9.1%)
  5. GBP(11.9% )
  6. SEK (Swedish Krona — 4.2%)
The USDX was created after the Bretton Woods agreement was dissolved in 1973. The base value was taken as 100, and the value of USDX is relative to the base value. The USDX is similar to the other indexes such as stock indices such as S&P 500, Nifty 50, where the weighted average of most valuable stocks is taken to form the stock index.
For calculation purpose, the exchange rates of six major currencies are taken with their respective weights in the index.
Prior to the establishment of USDX, all the major participating countries settled their balances in USD. The USD could be converted to Gold at $ 35/ounce. This led to the overvaluation of USD and the linked gold prices resulting in the temporary suspension of the gold standard. The countries then were free to choose the exchange rate, which did not depend on the price of the Gold and several countries freely floated their exchange rates. This led to a search for another standard, and thus, the dollar index was born.

Highs and lows in dollar index value

In 1973 the value of dollar index was set to 100. It reached its peak in 1985 where its value was around 165. In 2008 it hit the low of 70. If the value of the dollar index is above 100, then the dollar has appreciated against the basket of currencies. In contrast, any value below 100 or equivalent to 100 means dollar has depreciated against the basket of currencies. It can also be referred that the dollar is weak below 100 and strong above 100. There are several factors which impact the dollar index. These factors include macroeconomics, deflation/inflation of dollar and other currencies in the basket, etc.

Is US Dollar Index Traded?

Yes Dollar Index popularly known as USDX or DXY is available for trading on the US and other overseas exchanges, but not in Indian bourses.

Is USDX available for Investment?

Yes, it is also available indirectly for Investment via ETF and mutual fund routes in the US markets. At the moment, the Indian market doesn’t have any such products for investment purpose.

How dollar index impacts USDINR?

Indeed weakening and strengthening of dollar impacts USDINR movement. If take into consideration businesses and services where we deal in dollars only then strengthening of dollar increases the Forex reserve value. In contrast, the weakening of the dollar globally reduces the income of all the export-oriented industries. The reverse is true for import oriented industries in the country.
If you are a trader, then falling and rising dollar index provides you with the opportunities to trade in the USDINR pairs in both ways. You can either short when the dollar is weakening or go long when the dollar is strengthening. You can also hedge your position in the wake of weakening dollar through options and future trades. Corporate Business houses hedge their risk by hedging against any Dollar appreciation/depreciation based on the index value.
But the movement of USDINR pair should not be solely analyzed merely on the movement of the dollar index, and other factors also play a key role in the USDINR movement. Other factors, such as crude oil prices, trade deficit, inflation, etc., should also be considered along with USDX to analyze the movement of USDINR pair.

Where to get USDX charts?

You can get the USDX charts at in.investing.com

USDX charts on NYSE
I hope I have explained the dollar index in detail, however any comment, correction and feedback is welcome on the article.
submitted by bhaskarndas to StockMarketIndia [link] [comments]

Dollar Index and its impact on USDINR movement

Dollar Index and its impact on USDINR movement

image courtesy : pixabay
Many people in India who are just beginning their career in Currency Derivatives frequently hear about Dollar index. The social media and other platforms full of questions like “What is the Dollar Index?” and how it will impact the Indian currency pairs, especially the USDINR pair. This article will try to explain the US Dollar Index or USDX and its impact on the Indian currency pair.

What is the Dollar Index?

To put in simple words, it is the value of USD relative to the basket of major currency pairs. The value of the USDX tells the strength of the dollar. The six major currency pairs forming the basket along with weight are :
  1. EUR (57.6% )
  2. CHF (Swiss Franc -3.6%)
  3. YEN (Japanese yen — 13.6%)
  4. CAD (Canadian Dollar -9.1%)
  5. GBP(11.9% )
  6. SEK (Swedish Krona — 4.2%)
The USDX was created after the Bretton Woods agreement was dissolved in 1973. The base value was taken as 100, and the value of USDX is relative to the base value. The USDX is similar to the other indexes such as stock indices such as S&P 500, Nifty 50, where the weighted average of most valuable stocks is taken to form the stock index.
For calculation purpose, the exchange rates of six major currencies are taken with their respective weights in the index.
Prior to the establishment of USDX, all the major participating countries settled their balances in USD. The USD could be converted to Gold at $ 35/ounce. This led to the overvaluation of USD and the linked gold prices resulting in the temporary suspension of the gold standard. The countries then were free to choose the exchange rate, which did not depend on the price of the Gold and several countries freely floated their exchange rates. This led to a search for another standard, and thus, the dollar index was born.

Highs and lows in dollar index value

In 1973 the value of dollar index was set to 100. It reached its peak in 1985 where its value was around 165. In 2008 it hit the low of 70. If the value of the dollar index is above 100, then the dollar has appreciated against the basket of currencies. In contrast, any value below 100 or equivalent to 100 means dollar has depreciated against the basket of currencies. It can also be referred that the dollar is weak below 100 and strong above 100. There are several factors which impact the dollar index. These factors include macroeconomics, deflation/inflation of dollar and other currencies in the basket, etc.

Is US Dollar Index Traded?

Yes Dollar Index popularly known as USDX or DXY is available for trading on the US and other overseas exchanges, but not in Indian bourses.

Is USDX available for Investment?

Yes, it is also available indirectly for Investment via ETF and mutual fund routes in the US markets. At the moment, the Indian market doesn’t have any such products for investment purpose.

How dollar index impacts USDINR?

Indeed weakening and strengthening of dollar impacts USDINR movement. If take into consideration businesses and services where we deal in dollars only then strengthening of dollar increases the Forex reserve value. In contrast, the weakening of the dollar globally reduces the income of all the export-oriented industries. The reverse is true for import oriented industries in the country.
If you are a trader, then falling and rising dollar index provides you with the opportunities to trade in the USDINR pairs in both ways. You can either short when the dollar is weakening or go long when the dollar is strengthening. You can also hedge your position in the wake of weakening dollar through options and future trades. Corporate Business houses hedge their risk by hedging against any Dollar appreciation/depreciation based on the index value.
But the movement of USDINR pair should not be solely analyzed merely on the movement of the dollar index, and other factors also play a key role in the USDINR movement. Other factors, such as crude oil prices, trade deficit, inflation, etc., should also be considered along with USDX to analyze the movement of USDINR pair.

Where to get USDX charts?

You can get the USDX charts at in.investing.com

USDX charts on NYSE
I hope I have explained the dollar index in detail, however any comment, correction and feedback is welcome on the article.
submitted by bhaskarndas to u/bhaskarndas [link] [comments]

Explanation of the charts I posted earlier

I'll try to explain. The context is the concept of purchasing power parity: https://www.reddit.com/Forex/comments/fliz8m/purchasing_power_parity_ppp_in_fx/
The concept is that the numbers themselves can tell you a lot, for example, the rate of a pair, say AUD/CAD specifically state what the AUDJPY and CADJPY should be. The AUDCAD is 0.83183 which means 1 CAD is equal to 1.20216 AUD. So however many JPY you can get for a AUD you should be able to get 1.20216 times more JPY for a CAD.
AUDJPY = 64.201
64.201 x 1.20216 = CADJPY = 77.17987
DISEQUILLIBRIUM:
But the actual market price is CADJPY=76.974. Which means there is a disequilibrium between what the actual rate is. It can be quantified as the difference, -0.20587. I've taken that concept and expanded it to all currencies in a pretty large spreadsheet. The aggregate disequilibrium is accounted for each pair.
CURRENCY WEIGHT:
For this example, both the AUD is putting -0.20587 "weight" on the CADJPY and the CAD is putting -0.20587 "wieght" on the AUDJPY. This is collected for each individual currency and added together to represent the weight.
INDEX STRENGTH:
For example:
EUGBP 0.91447
USD/GBP 0.86211
CHF/GBP 0.87428
CAD/GBP 0.60099
AUD/GBP 0.50116
NZD/GBP 0.50600
JPY/GBP 0.007776594
ZAGBP 0.0484013
NOKGBP 0.0717705
HKD/GBP 0.110299
CNH/GBP 0.119747
SGD/GBP 0.588505
TRY/GBP 0.129911
SEK/GBP 0.0821385
DKK/GBP 0.12234
PLN/GBP 0.200372
MXN/GBP 0.0348339
RUB/GBP 0.0106524
Which averages out to 12.20271181 for the GBP. When this is done for each currency and added together which comes to 80.2174589.
GBP 12.20271181 15.21%
EUR 10.70881522 13.35%
USD 10.43321516 13.01%
CHF 9.209341569 11.48%
CAD 7.268234336 9.06%
SGD 7.16468796 8.93%
AUD 6.058258744 7.55%
NZD 6.065011193 7.56%
PLN 2.411473714 3.01%
TRY 1.541615401 1.92%
DKK 1.441292277 1.80%
CNH 1.411273128 1.76%
HKD 1.290361376 1.61%
SEK 0.952565391 1.19%
NOK 0.839225708 1.05%
ZAR 0.54313985 0.68%
MXN 0.507674255 0.63%
JPY 0.094083269 0.12%
RUB 0.074478539 0.09%
I've found that charting isn't needed to understand what prices should be now. They help in understanding what motivates people to have money exposed. Charts are in the psychological part of trading.
Edit: The JPY pairs are calculated times 0.01, that's why it's index is greater than RUB. I guess I can't post the charts anymore.
submitted by butstillkeepitreal to Forex [link] [comments]

523% profit in 40 days, almost $80,000 from an initial $15,000 investment

523% profit in 40 days, almost $80,000 from an initial $15,000 investment submitted by fxmasterful to wallstreetbets [link] [comments]

TODAY’S CHF WEAKNESS AND LIVE FOREX TRADING SIGNALS

TODAY’S CHF WEAKNESS AND LIVE FOREX TRADING SIGNALS
Today (6-5-2020 Friday) in the main session forex trading the CHF was weak on all pairs in this currency group. This drove strong price movements during the main trading session. Images of the live forex trading signals from The Forex Heatmap® and price chart movement for these pairs is shown below. The GBP/CHF moved higher and is close to breaking important resistance. Any more upward movement on this pair and a strong uptrend will form on this pair. The CAD/CHF also moved higher, this pair has much more upside on the strong uptrend that is forming. The NZD/CHF also moved higher in the strong uptrend. This pair has some resistance at the 0.6320 area, but more potential past there. These live currency trading signals and trend based trading plans for 28 pairs can be found on our website at Forexearlywarning.com.
https://www.forexearlywarning.com/the-forex-heatmap
#GBPCHF #CADCHF #forexsignals #forextrading #trading #daytrading #forexalerts #currencytrading #forex Swiss Franc GBP/CHF CAD/CHF
https://preview.redd.it/bjrhi5xdeb351.jpg?width=640&format=pjpg&auto=webp&s=cb39925b3899d10d4534bbb1943efd121f7115ba
https://preview.redd.it/paoa6xwdeb351.jpg?width=489&format=pjpg&auto=webp&s=ae9ff537f9bff276b5a33ea87495b926b1710a46
submitted by forexalerts to u/forexalerts [link] [comments]

The GBP is the strongest and the EUR is the weakest as NA traders enter

The GBP is the strongest and the EUR is the weakest as NA traders enter. The GBP is the strongest, but the gains are relatively modest. THe USD is mixed in the morning snapshot with the greenback higher vs the EUR, JPY, CHF, CAD and down vs the GBP and AUD. It is unchanged vs the NZD. The volatility is down in the forex market. Each of the major currency pairs and crosses are trading well below their 22 day averages. The JPY pairs moved lower earlier in the day, but have rebounded with the GBPJPY leading the way (up 55 pips). The USDCAD has given up earlier gains and trades back toward unchanged on the day (up 14 pips after being up around 90 pips at the high)
submitted by Nelvid to Forex [link] [comments]

TODAY’S JPY STRENGTH AND LIVE FOREX TRADING SIGNALS

TODAY’S JPY STRENGTH AND LIVE FOREX TRADING SIGNALS
Today in the main session forex trading the JPY was strong on all pairs in this currency group. This drove strong price movements during the main trading session. Images of the live forex trading signals from The Forex Heatmap® and price chart movement for these pairs is shown below. The GBP/JPY dropped into the D1 time frame downtrend, this pair has a lot more potential to drop with no nearby support levels. The CAD/JPY also dropped. This pair has some support levels remaining, and the trend is not as clear. We would scale out lots on any sells on the CAD/JPY. These live currency trading signals and trend based trading plans for 28 pairs can be found on our website at Forexearlywarning.com.
https://www.forexearlywarning.com/the-forex-heatmap

https://preview.redd.it/p3nbn69s57x41.jpg?width=444&format=pjpg&auto=webp&s=73b852662a020b7d625e6932d0b862a8fec16ac5
https://preview.redd.it/t3vjz59s57x41.jpg?width=540&format=pjpg&auto=webp&s=5ec6a1e1f8c1406bed5e4173c1704cb476ea120d
#GBPJPY #CADJPY #forexsignals #forextrading #trading #daytrading #forexalerts #currencytrading #forex Japanese Yen GBP/JPY CAD/JPY
submitted by forexalerts to u/forexalerts [link] [comments]

For those of you interested in the algo trading bot I posted a couple weeks ago, I will be releasing a market watcher only version of it (beta) for free

Hi guys, I know a lot of people expressed interest in the algo trading bot I posted about a few weeks ago: https://www.reddit.com/passive_income/comments/c8ocr5/after_months_of_tweaking_ive_finally_got_my_algo/

I thought about it, and I finally figured out how to release it publicly without it impacting my trading.
For the public version, I'm going to strip out the live trading functionality, and have it be a market-watcher only system. Essentially, you'll be able to configure specific strategies, and have it notify you when that strategy has a buy/sell signal emerge (so you'd have to do the trade manually)

You'll be able to run a backtest on any particular planned trading pair (eg USD-TSLA, BTC-ZEC, CAD-GBP), which will output a CSV sheet with backtested data against every possible strategy ordered by profitability.

You'll then be able to create market watchers (what I dub 'Tipsters', essentially live paper-traders) with the following settings:

These tipsters will then watch the market live, and simulate trading/keep track of simulated profitability.
App will have the following features:

There's a couple other 'surprises' I plan on having in the app too, but I'll keep those a secret for now (mostly hilarious stuff, but may wind up being useful).


So the question is, would you make use of something like this? Would you find it useful?
submitted by MrGruntsworthy to passive_income [link] [comments]

TODAY’S EUR STRENGTH AND LIVE FOREX TRADING SIGNALS

TODAY’S EUR STRENGTH AND LIVE FOREX TRADING SIGNALS
Today in the main session forex trading the EUR was strong on all pairs in this currency group. This drove strong price movements during the main trading session. Images of the live forex trading signals from The Forex Heatmap® and price chart movement for these pairs is shown below. The EUGBP moved higher on the H4/D1 time frames. This pair is hitting a lot of resistance so we would scale out lots or exit. The EUCAD also moved up on the H4/D1 time frames. This pair is at resistance on the D1 time frame and we would consider exiting. The EUUSD moved higher on the D1 time frame. Next resistance area is at 1.0860-80 on this pair. These live currency trading signals and trend based trading plans for 28 pairs can be found on our website at Forexearlywarning.com.
https://www.forexearlywarning.com/the-forex-heatmap


https://preview.redd.it/k1fvunr90jj41.jpg?width=836&format=pjpg&auto=webp&s=2b14270d75f412afa7d8e901e2a4fb6e27ad0904
https://preview.redd.it/4ikyter90jj41.jpg?width=439&format=pjpg&auto=webp&s=c82465008622bbbca56564749e5aa15979c88509
#EURUSD #EURGBP #EURCAD #forexsignals #forextrading #trading #daytrading #forexalerts #currencytrading #forex Euro EUUSD EUGBP EUCAD
submitted by forexalerts to u/forexalerts [link] [comments]

forex trading signals

forex trading signals
Forex Hub is the fastest growing Best Forex (Trading) Signals Provider with his known presence across the world. We have the best currency analyst team work together to deliver higher success rate on monthly basis. We mostly provide intraday signals after proper analysis through the valuable indicators and financial data. Company is too old in to the financial market and possess the great knowledgeable analyst staff all are very skilled and professional. We as company follow the rules ethically and put serious efforts to deliver the highest return which is dreamed by our clients and provide service as per clients expectations and risk appetite. We set our goals in advance for delivering best return on weekly basis and our staff work hard to deliver the targeted results. Forex Hub has well developed infrastructure with a good working atmosphere for the employees which deliver the highest possible outcome in terms of our clients satisfaction. We Provide the signals with Entry, Exit, SL, and one TP and also take care of proper risk reward ratio. Our mission is to be the best Forex signals provider with our clients base more than 20000 till 2022. Our signal cover almost all countries where Forex trading is legal. Our servicing countries includes United Kingdom (UK), Singapore, Australia, Hong-Kong, United States (USA), Canada, Brazil, South Africa, Portugal, Germany, France, Italy, Netherlands, UAE, Switzerland, Russia, Saudi Arabia, Malaysia, Denmark, Ukraine and 96 plus countries in the world.
We mostly provide signals in –EUUSD | GBP/USD | AUD/USD | EUJPY | USD/JPY | USD/CAD | USD/CHF | NZD/USD | EUCHF | EUGBP | EUAUD | GBP/JPY | GBP/CHF
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TODAY’S JPY STRENGTH AND LIVE FOREX TRADING SIGNALS

TODAY’S JPY STRENGTH AND LIVE FOREX TRADING SIGNALS
Today in the main session forex trading the JPY was strong on all pairs in this currency group. This drove strong price movements during the main trading session. Images of the live forex trading signals from The Forex Heatmap® and price chart movement for these pairs is shown below. The CAD/JPY and GBP/JPY sold off on the H1/H4 time frames, these look like short term sells. Scale out lots or exit the GBP/JPY as it is at H4 support levels now. On the CAD/JPY scale out lots or exit as it drops to the 83.00 support level and below. These live currency trading signals and trend based trading plans for 28 pairs can be found on our website at Forexearlywarning.com.
https://www.forexearlywarning.com/the-forex-heatmap

https://preview.redd.it/oi31v28efyi41.jpg?width=443&format=pjpg&auto=webp&s=d479447a7d9e68877cdc3282a1023d4a04b3e5b4
https://preview.redd.it/p9zxdq7efyi41.jpg?width=495&format=pjpg&auto=webp&s=d31b866ca78dfa59a2c4d71cdbe93d3592506077
#CADJPY #GBPJPY #forexsignals #forextrading #trading #daytrading #forexalerts #currencytrading #forex Japanese Yen CAD/JPY GBP/JPY
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GBP/CAD Forex Trading - Currency Pair Analysis and Trade ... LIVE GBP/CAD FOREX TRADE GREAT WIN 31/3/20 GBP/CAD TRADE RECAP LOSING -1% - 28/5/2020 Live Forex Trading: +160 Pips Trading GBP/CAD!  Forex ... Forex Trading: How I Made +$378.38 Shorting GBP/CAD ... Forex Trading Strategy: GBP/CAD multi-timeframe analysis

Erhalten Sie aktuelle Informationen zum Währungspaar GBP/CAD. Verfolgen Sie den GBP/CAD Chart, lesen Sie Prognosen und Analysen zum Pfund - Kanadischer Dollar. GBP/CAD Great British Pound / Canadian Dollar. BUY SELL. HIGH LOW CHANGE % CHANGE. TEST YOUR TRADING STRATEGIES. Get a demo account. Latest Research Commodity Currencies Still Look Strong after US Dollar Bounce: NZD/USD, AUD/USD, USD/CAD. Joe Perry November 9, 2020 2:18 PM Watch commodity currency currencies for continued signs of continued strength TAGS: DXY, FX, Stocks, USD. Risk Appetite ... GBP/CAD Exchange Rate Sinks as UK Markets Brace for Brexit News The Pound to Canadian Dollar (GBP/CAD) exchange rate fell by -0.3% today, with the pairing currently trading around... GBP/CAD Analysis FOREX.com is a trading name of GAIN Capital UK Limited. GAIN Capital UK Ltd is a company incorporated in England and Wales with UK Companies House number 1761813 and with its registered office at Devon House, 58 St Katharine’s Way, London, E1W 1JP. GAIN Capital UK Ltd is authorised and regulated by the Financial Conduct Authority in the UK, with FCA Register Number 113942. GAIN Capital UK ... GBP - BEARISH 1️⃣ Brexit negotiators will fail to agree anything in talks this week, thus missing the mid-November deadline to finalize a deal. 2️⃣ The unemployment rate in the UK increased to 4.8% in the third quarter of 2020, higher than 4.5% in the previous period and 3.9% a year earlier. CAD - BULLISH 1️⃣ The CAD benefitted from the rising in oil prices... Forex Trading Courses. Want to get in-depth lessons and instructional videos from Forex trading experts? Register for free at FX Academy, the first online interactive trading academy that offers courses on Technical Analysis, Trading Basics, Risk Management and more prepared exclusively by professional Forex traders. Register Now For Free! GBPCAD Forex Chart. Ideas. Videos only. Top authors: GBPCAD. ForecastCity Last visit ... Example of Twin Trading: £1000 in account = .05 + .05 = .10 1. 0. The Binary Destroyer finally coming to trading view. GBPCAD, 240. MichaelHearne. Finally the Binary Destroyer is coming to trading view. Brought to you by FX Learning. Expected to be released soon 2. 0. GBPCAD - Potential rejection of ...

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GBP/CAD Forex Trading - Currency Pair Analysis and Trade ...

In this video James the founder of Technical FX shares a recap of his GBP/CAD short position which he took, the reasons why the trade was taken, how the trade was managed and the outcome of the trade! In this video, you will get the Multi-timeframe analysis of GBP/CAD and you will improve your chart reading abilities. MENTORSHIP PROGRAM : https://www.trans... For more information please visit: https://www.thelazytrader.com GBP/CAD Forex Trading - Currency Pair Analysis and Trade Ideas: We discuss the technical ana... Real live forex trade on the GBP/CAD showing entry price and targets If you find value in the videos BUY ME A COFFEE paypal.me/TheScruffyTrader (All donations given to St Cuthberts Charity) I have ... #forex #forexlifestyle #forextrader Want to join the A1 Trading Team? See trades taken by our top trading analysts, join our live trading chatroom, and acces... #forex #forexlifestyle #forextrader Want to join the A1 Trading Team? See trades taken by our top trading analysts, join our live trading chatroom, and acces...

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