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Top-7 Forex Trend Indicators

Author: Victor Gryazin

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Dear Clients and Partners,

Trading indicators have long become reliable helpers to traders. This article presents seven popular indicators that help define the trend direction and find good entry signals.

1. The Moving Average

The Moving Average shows the changes in the average asset price during a certain period. This is one of the simplest and clearest trend indicators, frequently used as a part of more complicated indicators. There are various methods of calculating Moving Averages: Simple, Exponential, Smoothed, Weighted.

A Moving Average is drawn automatically on the chart as a colored line (the color and width are customizable). Moderate growth of the Moving Average indicates an uptrend, while a decline points at a downtrend. If an MA with a large period (such as 200) crosses the price chart from below, this means a downtrend is changing for an uptrend; if the crossing happens top-down, this means an uptrend is reversing, becoming a downtrend.

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2. The Average Directional Movement Index (ADX)

The ADX indicator helps you to see whether the market is trading in a trend or a flat. This indicator is based on two simpler ones: the Positive Directional Index (+DI) and the Negative Directional Index (-DI).

The indicator is displayed in a separate window under the price chart; it consists of three colored lines: ADX, +DI, and -DI. The beginning of a trend is indicated by the ADX line going upwards and crossing the two Directional lines. If the growth of the ADX line is confident, this means the trend is stable, while the other two lines indicate the direction of the trend: ascending or descending.

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3. Ichimoku Kinko Hyo

Ichimoku Kinko Hyo is a popular trend indicator designed by a Japanese analyst Goichi Hosoda, known under his pen-name Sanjin Ichimoku. The indicator consists of five lines with different calculation methods; two of them construct a so-called Ichimoku Cloud. Ichimoku is a trend indicator showing the direction and potential of the current trend.

The indicator is displayed right on the price chart, its lines serve as support/resistance levels and give opening and closing market signals. The indicator is mostly recommended for daily and weekly timeframes, alongside candlestick analysis. However, you can set the indicator for smaller timeframes, such as H4 and H1.

Read more at R Blog - RoboForex

Sincerely,
RoboForex team
 
Dear traders!

This week, RoboForex's project called ContestFX will continue, as usual, with the following demo competitions:

The 122nd competition of "Demo Forex" has gained "cruising speed".
The 310th competition of "Week with CFD" has just started.
At 12:00, May 19th, 2021, starts the 443rd competition of "Trade Day".
At 20:00, May 20th, 2021, starts the 359th competition of "KingSize MT5".

We remind you that all winners of our competitions will receive funds as a reward to their real trading accounts and they can use them to perform trading activities in the Forex market and make a profit without investing personal savings required as an initial deposit.

Don't miss your chance to become one of them!

Sincerely,
RoboForex Contest
 
How to Trade the Harami Cross?

Author: Victor Gryazin

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Dear Clients and Partners,

This overview is devoted to the peculiarities and trading method of the candlestick pattern called Harami Cross. This reversal pattern is not frequent but rather strong.

How does a Harami Cross form?

The Harami Cross belongs to reversal candlestick patterns and forms on local highs and lows of the price chart. It consists of two candlesticks: the first one has a chunky body while the second one is a Doji (it has no body at all, because opening and closing prices coincide). As a rule, the Doji opens with a gap against the direction of the first candlestick and must rest fully inside its price range.

The Harami Cross is a special case of the Harami pattern that has its second candlestick small, with a modest body. The Harami Cross is thought to give a stronger reversal signal compared to the normal Harami because a Doji means that market players are doubting, which might entail a correction or a reversal of the current trend.

Harami Cross types

The pattern has the bullish and bearish types that form after a downtrend and an uptrend, respectively.

The bullish Harami Cross forms in a downtrend on the local lows of the price chart. The first large bearish candlestick of the pattern indicates that bears are advancing vigorously. But then a Doji forms, meaning that the bears are almost out of strength and in need of a pause. This entails an ascending correction that might later turn into a trend reversal. The beginning of the correction is confirmed by the growth of the quotations above the high of the first candlestick.
A bearish Harami Cross appears on the top of an uptrend. The first large bullish trend demonstrates that bulls are actively pushing the market upwards. Then, however, a Doji appears meaning that buyers are already out of force, and bears have a chance to grab the initiative. When the quotations drop below the low of the first candlestick of the pattern, a descending correction starts or even a reversal becomes possible.

The indicator is displayed in a separate window under the price chart; it consists of three colored lines: ADX, +DI, and -DI. The beginning of a trend is indicated by the ADX line going upwards and crossing the two Directional lines. If the growth of the ADX line is confident, this means the trend is stable, while the other two lines indicate the direction of the trend: ascending or descending.

HaramiCross-en.jpg


Recommendations on the pattern use

To use the Harami Cross successfully, check the following issues.
  • The pattern must be preceded by a pronounced uptrend or downtrend; flat is useless here.
  • Use larger timeframes: from H4 and higher.
  • Trade liquid assets (currency pairs, gold, oil, liquid stocks, stock indices).
  • Always place protective orders (Stop Losses) and stick to your money management rules.
  • The second candlestick of the pattern — Doji — can be imperfect, i.e. its opening and closing prices can slightly differ.
Closing thoughts

The Harami Cross reversal pattern forms on the local extremes of the price chart in an ascending or descending trend (bearish or bullish Harami Cross, respectively). The probability that the pattern will work increases when it is used alongside tech analysis patterns, support/resistance levels, and trading indicators. Before trading for real, backtest the pattern and practice on a demo account.

Read more at R Blog - RoboForex

Sincerely,
RoboForex team
 
RoboForex: changes in trading schedule (Whit Monday)

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Dear Clients and Partners,

We’re informing you that due to the Whit Monday in several European countries, there will be some changes in the trading schedule*.

MetaTrader 4 / MetaTrader 5 platforms

Trading schedule on CFDs on the German index DE30Cash
  • May 24th, 2021 – no trading.
  • May 25th, 2021 – trading starts as usual.

R Trader platform

Trading schedule on CFDs on GER30 and FRA40 indixes
  • May 24th, 2021 – no trading.
  • May 25th, 2021 – trading starts as usual.
Trading schedule on CFDs on German, Austrian, Danish, Norwegian, and France stocks
  • May 24th, 2021 – no trading.
  • May 25th, 2021 – trading starts as usual.
Please, take into account these changes in schedule when planning your trading activity.

* – This schedule is for informational purposes only and may be changed by the provider.

Sincerely,
RoboForex team
 
RoboForex adds extra servers for its clients

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Dear Clients and Partners,

Due to the expansion of the client base, we’ve added two new servers for the MetaTrader 4 platform. They will allow dividing the load and process trading operations quickly and without failures. It will help us to achieve the company’s primary goal, which is to provide our clients with quality services and comfortable access to trading.

New servers are intended for cent accounts of the ProCent type, which are suitable for testing new strategies or Expert Advisors under real market conditions with the minimum financial investments. Advantages of ProCent accounts.

Advantages of ProCent accounts

  • Cents as base currency units (US Cent, EU Cent, etc.). A deposit of 10 USD will be enough to receive 1,000 US Cents.
  • Floating spread – from 1.3 pips.
  • Maximum permissible leverage value – up to 1:2000.
  • Trading instruments – 36 currency pairs, Metals.
  • Deposits/withdrawals without commissions.

Open a ProCent account

and start trading with a reliable broker right now!




Learn more about trading conditions

Sincerely,
RoboForex team
 
Dear traders!

This week, the ContestFX project is waiting for you to participate in the following competitions:

The 122nd competition of "Demo Forex" is running at "full speed".
The 311th competition of "Week with CFD" has just started.
444th competition of "Trade Day" will start on 26.05.2021 at 12:00 .
360th competition of "KingSize MT5" will start on 27.05.2021 at 20:00.

To participate in any of the competitions of your choice, it is enough to spend very little time on the registration procedure, and if you make the list of winners, you'll get funds to your real trading account and will be able to earn on the Forex market without investing your own savings.

We wish all of you successful trading!

Sincerely,
RoboForex Contest
 
How to Trade by Indicator-less Strategy From Pullback?

Author: Timofey Zuev

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Dear Clients and Partners,

The “From Pullback” indicator-less strategy is based on quite a fair supposition that a price move, especially an impulse, will quite fairly continue in the same direction than change it. H1 is a suitable timeframe here, but if some other period is comfortable for you, feel free to use the strategy on it. The strategy applies to Forex, futures, and stock markets.

A signal to buy by the strategy

For an opening signal to emerge, the following conditions must be fulfilled:
  • A characteristic upward impulse move (for the chances for trade continuation to be maximal);
  • At least one pullback during the growth, followed by another impulse (this will be confirming the ability of the impulse to overcome pullbacks easily);
  • At the working timeframe, the candlesticks constructing the impulse in question must be more or less of the same size (because after one enormous candlestick an equally huge pullback might follow, and the end of such ones are hard to predict).
When all these requirements are met, you can place a Buy Limit order. To find an optimum place for it, measure the distance from the High of the last candlesticks to the local low of the last pullback. Divide this distance by two and add a couple of ticks. Mark this distance from the High of the last candlesticks, and this will be the level that the pullback, which will appear sooner or later, can reach.

If the price keeps growing but the pullback does not appear, repeat the calculations at the end of each period: if you are trading on H1, make calculations at the end of each new candlestick if its High is higher than that one you used previously. This is how you hunt pullbacks. Examples of signals to buy by the strategy:

1-1-911x630.png


As you can see, to find an entry point easier, I used Fibo levels with all values deleted except for 0.50% and 100%, dragging them between the necessary points; then I just placed the Buy Limit several ticks lower.

Stop Loss and Take Profit by the strategy

In case of buying, place a Stop Loss below that very lowest low formed in the last pullback. In case of selling, place it behind the highest local high of the last pullback. The distance from the extremes is the same as you take from the middle you use for finding the entry point. If you are selling, do not forget to add the spread to the SL size.

Transfer the positions to the breakeven at your own risk and by your own experience. If your trader’s principles require protection of your current profit, use the extremes that appear after the pullback, while the price is approaching the profit.

As for the Take Profit in buying from pullbacks, take the High of the last impulse candlesticks you used for calculating your Buy Limit and mark a point as many ticks below it as you marked from that middle level when finding a place for the Buy Limit. In the case of sales, from the low of the last impulse candlesticks mark as many ticks upwards as you market from the estimated middle when finding a place for the Sell Limit.

As a result, in this method, you have a roughly 1 to 1 proportion of the SL to TP. This is not the most attractive proportion, but alas, this is the peculiarity of the strategy. Of course, if you are sure that after the pullback the market will go in the correct direction, place the TP at a better point, but remember that this might decrease your chances for closing the position by the TP.

Money management for Forex, futures, and stock markets

As for the size of the risk, I agree with A.Elder who recommends never to risk more than 2% of the deposit. If you get three losses in a row, stop trading by the strategy and scrutinize your results. You will be able to continue after a thorough and frank analysis.

In this article, I got you acquainted with another indicator-less strategy that has its advantages and drawbacks. Anyways, the author uses it in the market successfully. This does not guarantee your personal success; however, some will definitely like it for being so formalized, which is a rare case among indicator-less strategies.

Read more at R Blog - RoboForex

Sincerely,
RoboForex team
 
RoboForex: changes in trading schedule (Holidays in the USA and the UK)

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Dear Clients and Partners,

We’re informing you that due to public holidays in the USA, Memorial Day, and the United Kingdom, Late May Bank Holiday, several instruments will be traded according to the changed schedule*.

MetaTrader 4 / MetaTrader 5 platforms

Trading schedule on Metals (XAUUSD and XAGUSD), US indices (US30Cash, US500Cash, and USTECHCash), the Japanese index J225Cash, and CFDs on oil (Brent and WTI)
  • May 31st, 2021 – trading stops at 7:40 PM server time.
  • June 1st, 2021 – trading starts as usual.
Trading schedule on CFDs on US stocks
  • May 31st, 2021 – no trading.
  • June 1st, 2021 – trading starts as usual.
Trading schedule on CFDs on Russian GDRs
  • May 31st, 2021 – no trading.
  • June 1st, 2021 – trading starts as usual.

R Trader platform

Trading schedule on US stocks and ETFs
  • May 31st, 2021 – no trading.
  • June 1st, 2021 – trading starts as usual.
Trading schedule on CFDs on German, Austrian, Danish, Norwegian, and France stocks
  • May 31st, 2021 – no trading.
  • June 1st, 2021 – trading starts as usual.
Trading schedule on CFDs on US stocks and ETFs
  • May 31st, 2021 – no trading.
  • June 1st, 2021 – trading starts as usual.
Trading schedule on CFDs on US indices (US500, US30, and NAS100) and the Japanese index JPY225
  • May 31st, 2021 – no trading.
  • June 1st, 2021 – trading starts as usual.
Trading schedule on CFDs on the UK100 index
  • May 31st, 2021 – no trading.
  • June 1st, 2021 – trading starts as usual.
Trading schedule on CFDs on UK stocks
  • May 31st, 2021 – no trading.
  • June 1st, 2021 – trading starts as usual.
Trading schedule on Metals (XAUUSD and XAGUSD) and CFDs on oil (WTI.oil, BRENT.oil)
  • May 31st, 2021 – trading stops at 7:40 PM server time.
  • June 1st, 2021 – trading starts as usual.

cTrader platform

Trading schedule on Metals (XAUUSD and XAGUSD)
  • May 31st, 2021 – trading stops at 7:40 PM server time.
  • June 1st, 2021 – trading starts as usual.
Please, take into account these changes in schedule when planning your trading activity.

* – This schedule is for informational purposes only and may be changed by the provider.

Sincerely,
RoboForex team
 
How to Trade the GBP/USD Currency Pair?

Author: Igor Sayadov

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Dear Clients and Partners,

GBP/USD (Great Britain pound vs US dollar) is a major currency pair, which means it is one of the main and liquid Forex assets alongside EUR/USD, USD/CHF, AUD/USD, USD/JPY, and others. There is evidence that it takes from 12% to 17% of the total market trade turnover.

The base currency is the British pound and the quote one – the US dollar. This means that when the pair is growing, the pound is getting stronger while the USD is weakening.

Many call the British pound one of the most aggressive currencies in the financial market, and this is what creates high volatility in the pair. The behavior of these quotations is often unpredictable; they create a lot of false breakaways of support/resistance levels on the chart.

In this article, we will speak in more detail about the history of the pair, describe the factors that influence its behavior, and suggest a simple trading strategy.

Short history of GBP/USD

The full name of the British national currency is the sterling pound. The history of the currency dates back to the year 775. As long as the relationship between Britain and its colonies was developing, the necessity to pay for goods and overseas transportation emerged.

One version of where the name “sterling pound” comes from the method of coinage at those times. They used silver, and 1 pound of silver produced 240 coins. They started being called “sterling”, and this term was officially accepted for the currency in 1694.

As for the GBP/USD pair, its second non-official name – Cable – is derived from a real cable stretched along the bottom of the Atlantic Ocean for uninterrupted exchange of the pair’s quotations.

Now let us switch from history to the meat.

What does influence the GBP/USD quotations?

The main driver of GBP/USD behavior is macroeconomic data and indices from Great Britain. However, there are two more factors
  • The general situation in the currency market
  • The difference between interest rates in Great Britain and the USA.
The credit and monetary policy of the Central bank of England is the key element that forms the pound quotations in the world currency market. After Brexit, the CB took some measures for the stabilization and restoration of the GBP rate in the global market, which are still active.

The main “leverage” of the BoE for controlling the GBP rate is the interest rate decisions. When the rate increases, the pound gets stronger. When the rate declines, the British currency weakens.

Other economic events from the Foggy Albion influence the GBP/USD rate as well. Among them such things as:
  • GDP information, published once in 3 months;
  • The Consumer Price Index. It demonstrates the inflation rate that directly influences the decision on the key interest rate;
  • The number of unemployment claims;
  • The PMI.
How to trade GBP/USD?

To work successfully with the pair, you need to figure out and understand its peculiarities, including the period of its peak activity.

The average daily volatility level is 100-140 points. Trade is most active during the American and European trading sessions.

To trade GBP/USD, any type of analysis and signals will do – from simple fundamental analysis to technical indicators.

The most passive period for the pair is the Asian session (because in Europe, it is night) – at that time, volatility remains within 30 points.

Most often, the British pound behaves unpredictably and/or ambiguously: it might drop when everyone expects growth, and vice versa. The price might react to some news immediately but also might lag and do it gradually.

Trading GBP/USD by fundamental analysis

We have already discussed the main economic events that influence the currency pair. The trader only needs to check the economic calendar accurately and remain in course of the main economic events from Great Britain and the USA.

The high volatility of the pair might further increase when certain economic news is published; at such times, be extra attentive and do not dismiss the idea of using Stop Losses. To trade GBP/USD by fundamental analysis you can use both short-term (intraday) and medium-term strategies.

Example

Check the chart of the pair at the moment when Brexit was announced on June 23rd 2016.

pic-1-1200x534.png


The falling started right after the referendum and lasted for 3 months. The market slumped by over 4,000 points.

Read more at R Blog - RoboForex

Sincerely,
RoboForex team
 
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