Price Action Candlesticks

Price Action Candlesticks

Price Action Candlesticks
The history of the Forex candlestick takes us back to Japan, pretty interesting right? Candlestick charts go back as long as 500 years from now. Used by Japenese traders to analyze the price on the rice market. Off course techniques have developed and evolved and candlestick was used by lots of other traders around the world. Now you know how and where the important candlestick was born.

Price Action Candlesticks

The western approval of the Japanese candlestick charts was just 25 years ago. Step by step it gained popularity in the trading community of the USA. It wasn’t as well known before because people thought it was hard and complex to master the Japanese candlestick technique.

Candlesticks are the most pure form of Price Action that give us a visible view what’s happening in the market. Signals at a candle chart are exactly the same as on a bar graph. However, candle charts tend to be more trustworthy and are more visual.

Candlestick pattern is a repetitive returning formation of the price that suggests future prices. They will canalize your thinking process of the market as well.

Patterns in this lesson show us how traders acted earlier and what were there believes in that moment at that specific time frame?

Normally candlestick traders talk in the “Candle slang”. Candlesticks form the basics of your thinking process and trading decisions.


Identify Candlestick Patterns

It’s important to point out that attempts to identify candlestick patterns without trend, Support and Resistance are completely useless. There are more than 50 candlestick patterns for Bullish and Bearish.

Some traders remember all the names. This is not necessary since every candle is telling a different and unique story that will give you new information to think about.

By observing charts it’s important to ask yourself questions that can be used to back up your recent opinion.

For example: Once the recent candle has a solid form, what does this mean for you? Does it confirm or go against your previous thoughts of the candlesticks?

Price Action Candlesticks.

Looking for good Forex education? Look at www.theforexscalpers.com
The best Broker? Look at  IC MARKETS.

Contact us

Learn How to Trade the Forex Market

How to become a professional trader? The difference between a professional Forex trader and an amateur is like a boxing match between an Olympic champion and your neighbor. A professional trader is able to predict the future better due to good strategies that he or she has developed. The professional trader knows everything about risk management and how to keep himself under control and never get emotions the better of him.

You’ve got to be strong psychologically to make more and more winning trades. You’re not always going to make winning trades, sometimes you will make a bad one. The art of the game is to minimize your loses and maximize your winnings. Sounds simple right? Keep on reading and you will learn how to do this.

“A trader who has never lost, is not a trader yet.” Aristotle.

It’s very important to read and be able to analyze the graphs really well. In the end, it is all about recognizing patterns that have occurred in the past and may well be happening in the future again. Remember the Forex market is always on the move.

How to become a professional trader?

Technical Analysis for Forex Trading


It’s like dating. You’ve got to get to know the other person really well to press the right buttons for him or her. In trading technical analysis of a certain pair is really important. Get to know the pair your trading to predict any movement in the future.
Ask yourself questions as: What is the price at the moment? What was the price? What happened when the price was at this certain level? The answers on these questions will give you a possible outcome in the future. And so a possible right moment to make your trade.

You don’t think this is the only strategy right? Since there are a lot more strategies at use at the Forex market. For example Drawing trend lines, support and resistance lines, the candlesticks and the different indicators. Every trader uses its own way to analyze the market.

Fundamental Analysis for Trading in the Forex Market


Fundamental analysis is also called the old fashion way since it’s used by traders who mainly focus on economic news.

The idea of trading of the economic news is that the currency will follow the economic news. It is certainly important since it can change the prices but more than often the Forex market reacts in a different way as expected. Take

the Brexit as an example. This had a bad influence on the value of the GBP. But that doesn’t have to be the case all the time. You will see that traders who trust in fundamental analysis get confused when it goes the other way.


Swing Trading/Trend Trading

Swing trading is, the word gives it away a bit, trading on a swing. Simply, traders are looking for a pair with a predictable big swing ahead.

Swing traders are the hit and run kind of people. They make a trade, get a few percentages profit and close their trade. Most often swing traders are cautious traders. Like a leopard, they wait for the right moment to attack and give it their all when that slightly weak dear is running by.

The swing traders work with the Stop-loss that protects you from big loses. More about Stop-loss later on.

How to Become a Professional Trader?

Strategy for a trend trader is pretty plain and simple: Make sure you’re there when it happens and stay as long as you can until the trend reveres. Thought of a trend trader is that the price will keep moving in a certain direction otherwise it wouldn’t be a trend right? If the price, unexpectedly moves the other way it’s not a trend and the trend trader gets out of the hot kitchen before he burns his fingers.

These particular trading styles can be very successful if you have the right patience and know where to go for the kill. Mostly you will go for the kill at a retracement point. I will explain this later on.

-Up Trend: If the trend goes up the Euro is worth more.
-Down Trend: If the trend goes down the Euro will lose in value.
-Sideways Trend: Prices move in a narrow range.

Day Trading and Scalping

A common style of trading is Day trading. Day Traders are traders who strive to make money on a daily base on the Forex market and make as little as 5 to 10 trades a day.

Day traders who refuse to hold on to their position for one night work with a real tight Stop-loss and hold on to their good positions. For example the EUR/USD pair is the ADHD kid of the class who can’t sit still and is the pair that moves the most. An average of 80 PIPs (More about PIPs in a few moments) a day. So these movements need to be the top focus for a day trader.

Scalping is a sort of day trading. Scalpers trade in a relatively short timeframe as five minutes. Every trade they make will be between 5-10 PIPs. Imagine going for a 10km walk. And every 10 meters you find yourself a dollar on the ground. You will finish your walk with a $1,000,- in hand. You see, a lot of small trades will end up being a big one. Scalping is for the thrill-seekers under us. It requires constant focus.

How to become a professional trader?
Pick the strategy that fits you as a person. If you like to analyze and wait for the right moment don’t go scalping. Other way around. If you are that thrill-seeker, don’t go bore yourself with analysis. Start Scalping!

 

Learn How to Trade the Forex Markets

You have become curious and you want to learn how to trade. First of all, where do you actually start because when you look on google you see so many results that you actually do not know how and where you actually should start.

When I started trading in the beginning it was really a maze.
And it took me a long time before I could find a way in trading forex.
I will explain to you a few steps that you can follow to become more familiar with learning how to trade.

How to Learn to Trade the Forex Markets

Step 1: What Type of Trading Forex

First find out what trading forex exactly is it is very useful to know what it all exactly means.
So learn the basics for example what exactly is a PIP?
And what is Leverage?
What times are the best times for trading and in which continent?
What is volume? and what times is there enough volume?
Always start with the basic doctrine to understand what you want to do. Prepare as well as possible.
It’s important to have an understanding of the markets and methods for forex trading so that you can more effectively manage your risk, make winning trades, and set yourself up for success in your new venture.

Step 2: Find the Right Forex Education

To learn how to trade properly it is important to find the right forex education.
Because A good strategy is an important part of your trading career.
For example, you can find it for free on youtube.com and many other websites.
If you prefer to personally learn with an experienced trader, you will look for a good mentor and look at the style of trades that suit you most.
Orient yourself in the different styles and strategies everyone has their own style of forex trading so look for that strategy where you can find yourself the most.

Learn how to trade

Step 3: Demo Account

Open a demo account and keep practicing and practicing and practicing.
Like as you may learn over time, nothing beats experience, and if you want to learn forex trading, experience is the best teacher. 
A fundamental thing you may learn through experience, that no amount of books or talking to other traders can teach, is the value of closing your trade and getting out of the market when your reason for getting into a trade is invalidated.

“Money is just something you need in case you do not die tomorrow. Let this is a reminder for you not to obsess over profits and losses. In whatever you do, strive for enjoyment, focus, contentment, humility, openness… Paradoxically (and as an unintended consequence) your trading performance will improve significantly.” 
― 
Yvan Byeajee

Step 4: Forex Scalping Strategy

Making your first Forex trade.
Start trading with microlots.
This allows you to master your strategy and more importantly your emotions.
Once your emotions and your risk management are successful, you can move up to a higher lotsize.

Most noteworthy is that the higher your Lotsize, your emotions will often be more difficult to control.
My advice is therefore also to be completely comfortable at first with a somewhat smaller lotize so that you can increase it a little bit in time.

How do you become a Successful Trader?

Learn Forex Trading Online – How to Become A Successful Trader

Everyone wants to know how to become a successful trader.

Is there a strategy that makes you very successful? Sure, a good working strategy is very important to be a successful forex trader.
But only with a good strategy, you will unfortunately not be successful. There are a few important points to become a successful trader.
I will now briefly discuss these points with you.

Good Strategy Of Successful Trader

As I mentioned earlier, a good strategy is very important.
Keep testing these especially until you make much more profit than you  lose.
Get to know the forex pair well, observe this for a while very well so that you know exactly how it moves.
Keep practicing your strategy on a demo account or a simulator until it is good enough to go live!

Good Risk Management Techniques

When you don’t have your risk under control at every trade, you simply open the door for the friendly but emotional neighbors to come in and dominate in your house.
We promise it’s hard when you start trading at the Forex market.
Because it is an emotional market. It’s hard to stop trading emotionally once you’ve started or even admit you’re trading emotionally.
The game is about how much you lose or better said how you minimize your losses.
Not about your winnings. We all have that gambling friend that always talks about his big winnings.
He never tells you about the day he lost $1000 on one hand of Black Jack does he?
A good example that shows you how important it is to minimize your losses.
You don’t want to lose that $1000 you’ve won with 100 hands, on one hand, do you?
So set your losing limit before you trade.
This has to be an amount that your completely OK with losing.
If you lose it’s just another day at the office.

Become A Successful Trader you have the right Mindset

The truth is a majority of all traders keep losing. There is a simple explanation: They enter the Forex market with wrong expectations.
They think it’s a getting rich quick system.
Traders like that have the thought by investing a thousand ($1,000,-) they will make $1.000.000 in a week.
That’s just unrealistic. The Forex market is not a casino.

This unrealistic expectation can and will work against you and will brush your whole account away in a heartbeat.
Again, don’t let emotions get the better of you. Ask yourself the question: “what am I willing to lose?”
Always have the rule that you can explain why you make a certain decision.
Your thoughts have to be robotic and emotionless.

These are the 3 most important points, of course, there are many more to be successful and profitable.
If you have questions you can always contact me.
And if you joined the forex boot camp you will, of course, learn all ins and outs!

Learn More About Forex Trading

Want to know more about trading in forex / trader mindset or do you want to join the forex group?
The forex group is mainly English!
Please contact me so that I can explain you much more about what we have to offer.
And all your questions can be verbs.

Looking for good Forex education? Look at www.theforexscalpers.com
The best Broker? Look at  IC MARKETS.

 contact us
Faq

https://theforexscalpers.com/2019/02/07/forex-quotes/

 

Trader mindset / Theforexscalpers.com

Trader mindset / Theforexscalpers.com

Trader mindset.

Trader mindset.

The forex scalper is active long enough to penetrate and recognize the thoughts of many traders.
Firstly it’s important to know about the emotional and psychological part of trading.
If you think strategy matters your partly wrong.
Therefore you need to be smart, patience, disciplined and have the right mindset to be a successful trader.

trader mindset

trader mindset

But don’t get me wrong. There are a lot of webistes trying to sell a robotic, profit guaranteed, system.
Ever thought why? All they want is for you to buy their product.
They give you the illusion that their system is 100% waterproof so you buy their product.
But let’s think a bit longer before buying these systems.
Why if they are 100% successful, is the price just a few hundred dollars?
If it gives a guaranteed profit it should be valued much and much higher.
Likewise, if you have a system that will guarantees you a profit, would you sell it for a few hundred?
Just what I thought, you won’t.

trader mindset

As experienced traders we tend to tell you the truth and the truth only.
The thing is. Starting traders more often realize that their so called “guaranteed profit” system doesn’t work the way they hoped it would.
That’s why we give you this decent course.
Having an effective trading strategy is just a small piece of the big puzzle.
Again, balance your emotions and be aware of your mental process is vital in this business.

 Why majority of all traders keep losing / Trader mindset.

Above all the truth is a majority of all traders keep losing. There is a simple explanation: They enter the Forex market with wrong expectations.
They think it’s a getting rich quick system.
Traders like that have the thought by investing a thousand ($1,000,-) they will make $1.000.000 in a week.
That’s just unrealistic. The Forex market is not a casino.

trader mindset

These unrealistic expectation can and will work against you and will brush your whole account away in a heartbeat.
Again, don’t let emotions get the better of you. Ask yourself the question: “what am I willing to lose?”
Always have the rule that you can explain why you make a certain decision.
Your thoughts have to be robotic and emotionless.

trader mindset

Start trading with money you can lose. Since losing money is part of this business.
We can have a good guess what is going to happen in the future but still we can’t predict it for a full 100%.
In the beginning the emotions will probably get the better of you.
You open your account after you’ve red some about Forex and bought your winning system.
You are all excited to become rich and live that lifestyle you’ve always wanted.
At that moment you need to start thinking clear and trust in yourself and always explain to yourself why you made a certain decision.
Don’t get caught up in your dreams like all the other traders do.
Think a head and you will have a bright future!

“Practice makes perfect”.

Doubt / Trader mindset:

The worst you can do is doubt yourself. When you don’t have faith in yourself you start asking other traders or online forums to search for answers that aren’t there.
Remind yourself, your opinion is the one that counts.
Trust your guts and judgement. Learn to live and love it!

Try not to look at other traders or what their doing. They might have a slight different strategy.
For example you are looking for a 5 PIP profit and trying to compare yourself with a trader that is looking for a 50 PIP profit.
You see the danger in this?

trader mindset

Trader mindset Every trader has a different experience or a different way of analyzing.
What doubt does. It makes you listen and value the opinion or strategy of the other trader more.
You stop following your rules and this might very well led to a big loss or even bankruptcy.

Trader mindset

After a few losing trades it’s likely to doubt yourself and you strategy. Mostly you think you don’t have what it takes or something in the area.
Advice is to look at your mistakes and learn from them. Let these mistakes adjust your strategy a little bit.
Maybe you conclude that it wasn’t a mistake and simply bad luck.
If that’s the case keep doing what you did and trust yourself that the outcome will be profitable on the long run.

“Move on, understand what happened in the past but do not have an emotional attachment to it.”

Want to know more about trading in forex / trader mindset or do you want to join the forex group?
The forex group is mainly English!
Please contact me so that I can explain you much more about what we have to offer.
And all your questions can be verbs.

Looking for good Forex education? Look at www.theforexscalpers.com
The best Broker? Look at  IC MARKETS.

error: Content is protected !!