Recent content by 7Bulletin

Majors are highly volatile, exotic pairs are less volatile, the answer is simple. However, there are some majors that are considered to be the least volatile ones, like USD/CHF for example. It depends on the current situation on the market, but the fact that majors are more liquid is...

The best is to combine, but I vouch for first-hand experience more. The same thing is in any other business, to be fair. If you start doing something which can potentially bring lots of money, it's better to try it first, especially knowing the fact that you always have a democ account at your...

I may be mistaken as I am not an expert, but I guess it's more halal than haram. You know, haram is considered to be the money you received by dishonest methods. Plus, accumulation of huge sums without any proper explanation where you got them are also haram. Trading is kinda similar to...

In my memory all the similar challenges ended in the same way. Only a few traders I remember have accomplished noticeable results. Maybe you need to have a certain mindset to do it, I don’t know. I wouldn’t recommend this to anyone, especially newcomers.

Forex trading is not suitable for everybody psychologically, it is suitable for quiet, disciplined people. Discipline is the most important thing in trading because it allows the trader to trade strictly on the proven trading system. The way I do it to keep my nerves in check and to survive...

A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. The pivot point itself is simply the average of the intraday high and low, and the closing price from the previous trading day. On the subsequent day...

The first day are very difficult from psychological point of view. The weirdest thing is that you do quite the same as you did before on demo but you do experience some different emotions and feelings. My first deals were experimental. I traded microlots and tried to analyse my psychology...

That is great that you were so serious about trading with EAs because lots of people tend to buy ready-made trading bots instead of making them on their own. However, I am a bit skeptical about some additional tools which construct your own trading bots. I feel that such tools may write the code...

I conduct the analysis first and then decide which type of trading is more suitable for this particular pattern. Sometimes reversals are too obvious to miss a lucrative opportunity. For instance, I can take profits from Forex trades at a certain price level, and open FTTs in the opposite...

It depends on your background. If you are a biginner, then you can learn here or on babypips. THese resources are a really nice introduction to forex trading. There you can learn the basics and fundamentals about the market itself and you can also find there several trading strategies which you...

I feel that it is only some really serious kind of news that you should pay attention to while trading like NFP, OPEC and something like that. Minor news are really difficult to follow and it is also difficult to estimate.

Knowing the price levels will help you to apply a breakthrough strategy. It’s also good for news trading as fundamentals might play a role of a trigger to launch a strong trend. And when the breakthrough happens, quotes usually keep going in the same direction for some time. Catch it.

That’s a right move of yours. Price levels always work.

Have you learned about price levels?

I take advantage of the ATR’s accuracy on 15- and 30-minutes charts of several cross-rates such as GBP/AUD, GBP/CHF, EUR/JPY, AUD/CAD and NZD/CAD. Those are ranging pairs and they could offer good chances to play ping pong, selling highs and buying lows. It’s not that often, but it happens from...