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Showing posts from August, 2020

Is it necessary to have a Forex Trading Mentor?

You're doing it alone Remember when you were in school? You had a teacher for every subject to learn from. Outside of classes, you had a coach (whether it’s football, basketball, and etc.) to provide feedback so you can improve your game. And even when you’re “chasing” the girl of your dreams, you have buddies (who are experts at the game), giving you advice, tips and tricks on how to win her over. Clearly, at every stage of your life, you had someone experienced to give you feedback, advice, and knowledge. But when it comes to your trading career you’re doing it alone. And by figuring things out yourself, you face questions like… “Does this trading strategy work? Do I have an edge in the markets? How do I know what works and what doesn’t?” Now, I’m not saying you can’t make it on your own. You can… with hard work, determination and paying HUGE fees to Mr Market. But imagine how much time, effort and money you’ll save if you have a mentor. In case you’r...

Forex Trading Technical Analysis using Bollinger Bands

Peaks indicated times of intense speculation and troughs indicated times of low interest in the market, when speculation was not high on people's agenda.  ~John Bollinger.  What are Bollinger Bands? Bollinger bands are technical analysis indicators, developed by John Bollinger that are used to determine the trend and the momentum of a trade.  Technical analysis using this indicator is based on the fact that prices tend to stay within the upper and lower boundaries of a band. How to insert Bollinger bands indicator into MetaTrader5 Step 1 Go to Insert >> Indicators >> Trend >> Bollinger Bands Step 2 Customize the parameters of the Bollinger bands. Period The line in the middle of the Bollinger bands is usually a simple moving average set to a period of n days. The default setting is 20 days, however, that can be adjusted to suit an individual`s trading style. Deviations It measures the volatility of the price. Bollinger Bands  are plotted ...