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For Beginners

The best and most useful information for beginners. After reading this section you will learn how to set terminal for trading on the market, meet Forex phrases, and also find out it's secrets. You should pay special attention to the articles related to the questions on correct Forex trading.

Lesson 30: Practical application of Fibonacci Retracement in trend trading
CategoryFor Beginners

Dear friends, today we continue to talk about the Fibonacci Retracement. In this lesson we will explore the trend trading technique that requires application of this tool. As early as in the beginning of the 20th century, Jesse Livermore said that “prices are never too high for you to begin buying or too low to begin selling.” We all saw how this statement came true over the past few weeks in GBP/USD chart. But do not forget that any trend ends sooner or later. Therefore, if you do not want to turn from a speculator into a long-term investor, you should observe the rules of money and risk management in trend-following techniques.

Lesson 28: the Fibonacci sequence is a magical instrument for traders
CategoryFor Beginners

The Fibonacci sequence is one of the most popular trading instruments with forex traders. The developers of the MetaTrader platform had a good reason to put this instrument onto the toolbar along with such widely-used tools of technical analysis as lines and equidistant channel. Why is the Fibonacci sequence so popular in the forex market? It’s a common knowledge that traders are very superstitious, so they are disposed to employ the theory of Leonardo Fibonacci, the mathematician who introduced his golden section and the sequence of numbers: 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144... 

Lesson 27: Top 5 fatal mistakes in trading
CategoryFor Beginners

About 90% of traders lose money. The rest 10% trade in the black or have profit on a regular basis. How do they do it?

This is a question traders ask for decades. The most interesting thing is that there is no secret formula that will make a pro from a loser. The only thing you should do is to avoid mistakes that can blow up your account. 

Let’s have a look at five reasons why traders lose money. 

Lesson 26: How to create trading plan
CategoryFor Beginners

Today, you will learn about what the trading plan is and why Forex traders should create it. Many traders ignore it, and how wrong they are! Having a trading plan, they could save their accounts from losses.

To start with, I’d like to make it clear: a trading plan and a trading strategy are not the same things. Unfortunately, many traders see no difference. So what a Forex trading plan is? 

Lesson 25: Chart zooming in MetaTrader 4
CategoryFor Beginners

To give a close outlook on a trading instrument, one should know the aspects of working in MetaTrader4. That’s why during this lesson we’ll deal with the following features:

  • how to zoom a chart;
  • how to shift space from the price extremes to upper and lower window edges;
  • how to set a custom vertical position of a chart;

Lesson 24: What account settings to choose to trade on Forex
CategoryFor Beginners

If you want to succeed in trading, you need to choose the right conditions for your account. Most brokers offer the following options:

  • various currency types: US dollar, euro, ruble, gold, cryptocurrency
  •  accounts with swap or swap-free;
  • leverage from 1:1 to 1:5,000;
  • fixed or floating spread.

Let's have a closer look at each parameter.

Lesson 23. How to set pop-up alerts, email and PUSH notifications in MT4 trading platform
CategoryFor Beginners

 

Time is a resource, which a modern high-flier views as a precious value. The proverb Time is money is especially meaningful nowadays. Developers at MetaQuotes appreciate your time and therefore introduced a helpful option to mt4 and mt5 trading platforms. This option enables you to receive local alerts, email, and PUSH notifications. From now on, when your expert adviser finds a market entry point, you will be informed about it by one or some of the abovementioned ways. The important thing is that a signal should be set right so that you don’t lose it. In this article, you will find out how to do it the right way.

Lesson 22. Working in MetaTrader 4 platform: order expiration.
CategoryFor Beginners

Dear friends, I’m aware of your keen interest in articles about functional features of MetaTrader 4. For sure I’ll expand on this topic. Today, we’re going to consider a helpful option, expiration of a pending order. This feature is used mainly by day traders. It enables to cancel a pending order automatically if an order is not executed by a date and time, specified in the appropriate Expiration field at the moment of placing this order. We’re going to discuss how it is used in practice in the Morning flat breakout trading strategy. Let me remind you that following this trading strategy, we place two breakthrough orders on a daily basis and cancel them at the end of the trading day if they haven’t been triggered off. 

Lesson 21: Templates in MetaTrader 4: saving, adding, and applying
CategoryFor Beginners

 

Today we’ll cover the issue of templates in the MetaTrader 4 platform. Perhaps, some of you consider templates useless stuff, but believe me they are not. Templates will save you tons of nerves and time when you re-install a platform or test a trading system. Once you applied a template to MT4, you don’t have to bother yourself with adding indicators to every instrument chart, set parameters, or adjust colors as the template will do everything for you. Of course, needed indicators should be added to a corresponding folder in your platform.

Lesson 20: How to apply indicators to chart
CategoryFor Beginners

In this article, we’ll cover the following topics:

  • how to apply a basic indicator to a chart;
  • how to delete an indicator from a chart;
  • where to get and how to apply an indicator from a third-party developer to a platform.

 

How to apply a basic indicator to a chart?

 

If your trading system features some basic indicator, you need just a few simple steps to add it to a chart. First, find an indicator in the Navigator section of the MetaTrader platform. This window can be also opened by pressing Ctrl + N.

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