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Market Profile Indicator for MT5

Market Profile Indicator for MT5

Market Profile Indicator The Market Profile indicator depicts price action over time, highlighting key areas with a high trading volume. Peter Steidlmayer is the Market Profile’s developer. In 1985, he was the first to offer the Market Profile to traders at the Chicago Board of

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Why Are Cross Currency Pairs so Volatile?

Why Are Cross Currency Pairs so Volatile?

Cross Currency Pairs In forex, cross-currency pairs refer to currencies traded directly with each other, or they can be used to pair currencies to trade against each other. Through cross-exchange transactions, one can directly convert the money into desired currency now.  For instance: you can

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All You Need to Know About Andrews Pitchforks Strategy

All You Need to Know About Andrews Pitchforks Strategy

Andrews Pitchfork’s strategy Alan Andrews has invented the Andrews’ pitchfork strategy. This pitchfork is a technical indicator consisting of 3 parallel trendlines (Median line, upper trendline, lower trendline). Andrews’ pitchfork is drawn, using one of the below methods: * low-high-low * high-low-high This indicator is

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What You Should Know About Scalping in Trading

What You Should Know About Scalping in Trading

Scalping in Trading The fastest trading method is “Scalping” or “Scalp Trading”, which has the lowest time span between opening and closing a position. In this strategy, profit is gained through small changes in price. Scalp trading takes from several seconds to several minutes. In

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Do You Have the Guts to Trade the News?

Do You Have the Guts to Trade the News?

Trade the News – An understanding of the stages of News Trading for Forex traders This is what you need to know when you trade the news- The Economic News Release (ENR) is a pre-scheduled event held by the financial authorities of each country. The

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The Hidden Dangers of Using Practice Trading Accounts

The Hidden Dangers of Using Practice Trading Accounts

Practice Trading Accounts A practice trading account, also frequently referred to as a ‘demo’ account, represents a simulated trading environment, which allows the trader to advance his skills without running the risk of losing any money. Trading on a practice trading account has many perks, chief

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The Five Necessary Steps of Wyckoff Methodology

The Five Necessary Steps of Wyckoff Methodology

Richard Wyckoff Methodology Legendary stock trader Richard Wyckoff found out some approaches to pick the winning stocks or forex pairs direction.  His approaches and methods are still working in the modern era. Further, Wyckoff’s methodology also indicates the most valuable time to buy a forex

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5 Mental Tools for Forex Trading Success

5 Mental Tools for Forex Trading Success

Developing the Right Mental Tools for Forex Trading Success Everyone who wants to be a successful trader and consistently make money in the forex market needs strong mental fortitude. You must have a successful mindset, as it is one of the most important tools that

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How to Calculate and Trade the Gartley Butterfly Pattern?

How to Calculate and Trade the Gartley Butterfly Pattern?

Gartley Butterfly Pattern Initially, the gartley butterfly pattern was perceived as an ideal figure, which is rarely used in practice. But in addition to the classical version, over time, similar harmonic models were discovered like “shark”, “crab”, “bat.” To accurately apply various technical indicators in

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Why Price Action Reigns Supreme in Forex

Why Price Action Reigns Supreme in Forex Trading

A few reasons why price action is the preferred “indicator” for many forex traders For a moment, throw out complicated analysis schemes and just look at the market. Just sit and watch the price action go up and down. Enjoyable isn’t it? Many traders love

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How to Trade Powerful Bearish Candlestick Patterns

How to Trade Powerful Bearish Candlestick Patterns

Bearish Candlestick Patterns Candlestick patterns are the technical analysis tool that displays price data on multiple timeframes. Developed in Japan in the 18th century, candlesticks patterns have become a go-to source for many traders today.  Steve Nison first introduced the candlestick patterns to the Western

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