Learn the ins and outs of forex trading with our educational resources and expert guidelines.
Confluence in trading is the use of two or more different tools/indicators to filter and verify each other’s signals. It provides a comprehensive view of the market and helps you weed out low-probability setups. Let’s look at its key components, application tips and common mistakes to avoid: Key components of confluence trading These are some technical...
An order is an instruction to execute a financial asset at a specific price or under certain conditions. Let’s look at the different types of orders in trading: Market orders: This is a directive to execute (buy/sell) a security instantly (at the best available price). The execution price here is not guaranteed (especially during volatile market conditions or significant...
Here are the best four prop firms in Nigeria (in terms of programs, features & services): Comparison of the best prop firms in Nigeria (Scroll/swipe the table to your left ← or right → to view all providers) Features RebelsFunding FTMO the5ers FundingPips Price range $25 – $890 (Affordable) €155 – €1,080 $39 – $850...
The Three Drives pattern is a trading strategy used to find potential trend reversals. It is made up of three consecutive price swings (also known as legs) in the same direction, and followed by a significant retracement. In this post, we’ll look at how to identify and utilise it: How to find the three drives pattern &...
A single candlestick pattern shows price (or trading) activity within a period of time. It is identifiable by its unique shape, colour & wick, and indicates a bullish, bearish or neutral trend. Let’s look at fifteen (15) single candlestick patterns and what they usually signify in the market: 1. Doji candle It is called a doji when the...
Chart patterns are graphical formations created by price movements on a chart, and repeated over time. They give clues about potential future price direction based on historical market behaviour. Today we will look at eleven (11) types of chart patterns and how to trade them. (Before we proceed, note that the eleven chart patterns will be...
In this interview, one of our successful traders, Tung Nguyen, shares some helpful tips that can transform your forex (prop) trading performance: 1. Tell us a little about yourself.My name is Tung Nguyen. I come from Vietnam and I am a freelance investor. 2. What trading strategies or approaches do you find most effective in your trading journey?Price averaging method....
The break and retest strategy involves identifying key levels, waiting for a breakout, and then strategically entering the market during the retest phase. Today, we will cover the key steps that can help you identify it, how to trade it and it’s advantages: Key steps for break and retest identification 1. Breakout: Here, price action clearly...
Equity drawdown is a drop or decline in your equity from its daily peak value. It is a risk management system that empowers one to become a strategic, responsible, and disciplined trader. Equity is the total value of a trading account. It includes your account balance for the day and any unrealized profits or potential losses on open positions....
A gap is an area on a price chart where there is no trading activity at a certain price level (leaving a blank space between the previous close of one period or candle and the new opening price of the next). It is a discontinuity in price movement. Let’s look at why gaps occur, types and how to take...
