Breakout trading is a popular strategy in the world of financial markets, offering a range of benefits that appeal to both novice and experienced traders. This approach involves identifying key support and resistance levels and then capitalizing on...
The pin bar pattern is a popular price action trading signal that can help traders identify potential market reversals. To trade the pin bar pattern, traders should first look for a pin bar formation on their charts, which typically appears as a...
The MetaTrader 5 Strategy Tester is a powerful tool that allows traders to backtest their trading strategies before executing them in the live markets. It is a module within the MetaTrader 5 platform that can simulate historical market data and...
The Non-Farm Payroll (NFP) report is a key economic indicator released monthly by the U.S. Bureau of Labour Statistics, measuring job growth excluding farm workers, government employees, and non-profit organisations. Its impact on the forex market is...
In the context of MetaTrader programming, the term "forex global variable" typically refers to a variable with a global scope within the MetaTrader trading platform. MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are widely used platforms for developing...
The economic cycle, also known as the business cycle, refers to the natural fluctuations in economic activity over time. It consists of four phases: expansion (growth in GDP, employment, and income), peak (the highest point before decline),...
Scalpers, day traders, and swing traders are all types of traders in the financial markets. The main difference between them lies in the duration of their trades and the strategies they use.
Trading forex on the monthly time frame is a long-term strategy suited for patient investors who prefer fewer, high-probability trades. This approach involves analysing monthly candlestick charts to identify major trends, key support and resistance...
A losing trade is an outcome that aligns with your trading plan; it follows your rules for entry, risk management, and exit, but still results in a loss due to normal market fluctuations. Even the best strategies have losing trades; they are an...