In the previous article, we’ve learned about the concept of correlation. It's time to apply it in trading. You don't need any special skills for this. Once you understand how correlation works, you can put your knowledge into practice, even as a novice trader.
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How Long do Traders Hold Their Positions?
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Dec 3, 2020
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One of the most challenging things in Forex trading is understanding when it's time to close your position. Many traders can not close the position when it keeps rising, but at the same time, they are waiting for the chart to turn around when they lose money during a trade. So timing is everything, and you do not have to overhold positions, as it usually decreases your profits. There are four common types of traders: scalpers, day traders, swing traders, and long-term traders. So let's take a closer look at each type of trading.
The Wedge Figure in Forex Trading
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Today we'll talk about the Wedge. Visually, the figure resembles a triangle. However, this pattern produces clearer signals. During the formation of the triangle, you have to wait for the breakout of one of the triangle sides in order to determine the further price movement. The wedge gives a clear reversal signal.
Five Candles Pattern Rule - Simple Filtering Indicator
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Oct 29, 2020
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In this article, we will discuss the rule of 5 candles and reversal patterns. This rule can be useful for both novice traders and experienced bulls or bears. So if you didn't hear about it earlier, keep reading the post.
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