Examples of testers: FxBlue , Forex Simulator. You can also use the built-in MT4 tester. Autochartist is a plugin for Metatrader. It automatically analyzes the patterns in the charts and suggests the most likely scenario. Trading Central is a service for automatic technical market analysis from the developer company of the same name.
TradingView is a web service and social network for traders. It has its own platform with technical tools and streaming quotes of several thousand assets. It is also a platform for communication and discussion of strategies, indicators, advisors, and investment ideas. Finviz is an analytical portal for the US stock market. It has everything you need for stock analysis: market sentiment by company and segment, stock screeners, analysis, news, etc. Includes over 7, stocks and derivatives data.
It is formed on the basis of information from investment companies and statistical agencies. Investing is an analytical portal where you can find several thousand streaming price charts. There are dozens of auxiliary tools here: volatility calculators, Pivot points, heat map, stock screeners.
It publishes analytical reviews of individual sectors of the economy and analysts' opinions, as well as news by region. MyFxBook is an independent analytical platform for traders and investors. It has analytical tools for statistical and graphical analysis of strategies, as well as the function for linking a trading account to a platform with an investor password, which is proof of the trader's identity for an investor. This is a matter of individual preference.
On the one hand, it will be easier for a beginner to deal with a platform that has a minimum functionality without complex tools like trailing stop or Buy Stop Limit orders. These platforms are similar in interface and capabilities to the browser platforms of binary options brokers.
On the other hand, it is better to start getting used to complex platforms right away - this way you will quickly learn how to work with them. A platform for professional Forex trading, which is also recommended for beginners.
It has many overlapping functions. There is social trading via the MQL5 portal, the option to set up alerts, download the history of quotes. At first glance it may look complicated. LiteFinance platform. Browser platform designed specifically for novice traders. It only offers manual opening of positions with a few clicks. It's integrated into your personal account, where you can find training materials, contact tech support, etc. You can connect your trading account to your copy trading account.
In the Trader's Cabinet, you can analyze the rating of LiteFinance traders. It has an expanded number of indicators in comparison with MT4 - more than New indicators are added regularly. You will find a detailed overview of the platform and its functionality in one of the sections of this review. You can download the MT4 platform here. It will be easier for beginners to start with the LiteFinance platform.
MT4 is considered a more professional and complex tool, while the LiteFinance terminal is extremely simple. Only the most necessary set of technical and graphical tools, one-click trading, convenient chart scaling and much more. Minimum deposit and leverage. The deposit-leverage ratio should be comfortable and allow opening trades with a minimum volume while observing the risk management rules.
With a leverage of , the trader can trade with 25 thousand USD. The minimum trade volume is: 1. Conclusion: 50 USD is enough to open a trade with the minimum lot. Spread level and type. The smaller the spread, the lower the costs incurred by the trader.
The fixed spread is mostly larger than the floating spread, but it does not widen during fundamental volatility. The smallest spread is found on ECN accounts, but a fixed commission for each lot can be charged. Withdrawal conditions. No restrictions on the number of orders and minimum withdrawal amount, no broker's commission. Several licenses indicate that the broker is constantly monitored by the regulators of several jurisdictions.
In addition, for a private trader with a small deposit it is not easy to file a complaint. Read more about the procedure for filing a complaint with a regulator here. Other important factors are the transparency of the offer and no restrictions on the use of certain types of strategies and advisors.
Additional services, for example, automatic copying of trades, are also an advantage. Most importantly, the broker must comply with the terms of the User Agreement. The trader's convenience is also important. If you like the interface and the range of tools and are satisfied with the communication with the support service - this is your broker!
The secret to any success is continuous learning, which includes theory and practice. I will provide a general algorithm for those who are just taking their first steps. What is a point and what is the difference between four- and five-digit quotes? What is the point value and how to express it in monetary terms? What are the types of orders , how do they differ and how to place them?
Fundamental analysis. What news factors affect a particular asset, where to look for fundamental information? What is technical analysis in trading? What are the tools of technical and graphical analysis? What are the types of intraday strategies? Learn to open trades with at least a small profit. Study theory, apply new knowledge in practice. Try to understand the topic in depth. Take your time, but try to have a small result every day: new market knowledge, trading theory, and small profits.
Learn how to test the trading system. Your need to not only develop a trading system with high efficiency, but also to understand its statistical parameters. If you have learned to test a trading strategy and your intraday trading system gives a profit comparable to alternative earnings - consider yourself a day trader at the average level. What is the state of the market: is there a clear trend or is the price in the consolidation zone? If there is a trend, how long ago did it start?
If there is a visible trend in the daily chart, go to a lower timeframe and open a position in its direction. Keep in mind that the deposit must be sufficient to withstand a local drawdown within a day. Analysis of levels.
Support and resistance levels can be key levels for setting targets. At these levels, the direction of price movement often changes or consolidation occurs. Assessment of current volatility and trend strength. The analysis allows you to see how well timed the entry into the market is. When choosing a starting amount, it makes sense to build on the target and remember the risk management rules.
Verify how well the broker fulfills their obligations. How quickly the money is credited, what is the actual spread, are there slippages, are there any problems with the withdrawal? A demo account will not do for these purposes. A minimum deposit is sufficient, allowing you to open a position in some asset with the maximum leverage. This is enough to open a trade with the minimum lot for any asset with this leverage.
Leverage is only available for certain assets, in particular, for currency pairs. You can find available leverages for other assets in the contract specifications. Read more about this in the review What is Leverage. Goal: learning how to open profitable trades in compliance with the risk management rules or learn how to work with the platform's functions on a live account.
The amount of profit does not matter for now as much as the fact you're earning any profit at all. At this point you can even accept some loss: any outcome is a useful practical lesson that also teaches emotional stability. For this purpose, any amount is suitable, with which you can open trades with a minimum volume subject to the risk management rules. You have a deposit of 50 USD with a leverage of A full standard lot is equal to , base units.
The price of a point with a minimum volume of 0. The volatility calculator shows that the average price movement per day is points. Trading theory states that the take profit order should be times larger than the stop order. If you intend to take most of the daily volatility, with a take profit of 45 points, the stop order should be equal to 15 points. Within the limits of risk management, you are allowed to open a position with a volume of 0.
Possible options:. Decrease the stop-loss length, which is even greater risk with volatility of points per day. The calculation is similar for other assets. Look for leverage, minimum trade volume and quotes in the specification.
Goal: making money on trading. For example, you think an average office job could bring you 1, USD per month. The amount is approximate - taxes, vacation pay and other factors are not taken into account. You need to earn about 50 USD per day, otherwise there is no point in switching. From the previous example, you can see that opening a trade with the minimum lot within the limits of the risk management rules requires at least USD.
Take profit of 45 points with a lot of 0. To earn the desired 50 USD, you need to open at least 11 trades with a yield of 45 pips without a single loss. In practice, this is not possible. For professional trading, which would give a profit commensurate with alternative means of earning, you need at least , USD.
This amount will allow you to open trades with a volume of at least 0. Before working with such an amount, you need to follow the previous 2 steps indicated in this section. The best assets for day trading are assets with high liquidity and medium volatility. Their daily movement in both directions should be sufficient to obtain the target profit, taking into account possible losses.
Currency pairs and cryptocurrencies moving in a stable range are mostly used for daily strategies. Stock and commodity assets are less common. Bitcoin is the flagship of the cryptocurrency market and one of the best assets for day trading. It is the first to react to fundamental factors and is then followed by the market. This pair accounts for the largest volume of trade turnover.
With a moderate average volatility in comparison with other pairs, it has the greatest liquidity. This means that it has some of the tightest spreads, instant execution of orders without slippage, and provides the opportunity to earn points per day. Any blue-chip stock whose quotes are highly dependent on fundamental factors. These may be different companies at different times. For example, popular intraday strategies are dividend gap trading or opening trades when financial statements are released.
One of the intraday strategies is to trade with a short trend at the time of the release of the monthly NFP report. The list of suitable assets for day trading on Forex does not end there. If you have examples of other interesting assets, I invite you to discuss them in the comments.
The foreign exchange market is considered to be the most liquid in comparison with other markets. Their combination with USD is the best trading asset with an optimal ratio of liquidity and volatility. The table below shows the relative distribution of each major currency by its turnover as a percentage:. The trading volume of cross rates is 2 times lower than that of the majors.
The most popular currency for trading cross rates is the EUR. Please note: each currency pair is convenient for intraday strategies in its own time. The higher the trading activity, the greater the liquidity of the asset. Combination of indicators with elements of Price Action graphic analysis, resistance and support levels. Pattern trading. In the uptrend, the price forms a narrow channel close to horizontal. We open a position at the breakdown of the upper border of the channel with the continuation of the upward movement.
Channel breakout trading. We open a trend position when the divergence of the Alligator's three moving averages begins. Additional condition: the divergence was preceded by a flat, and at the moment of divergence all moving averages are pointed in the same direction. Trading with psychological levels based on the day swing trading principle. We trade using 2 EMA indicators with different types of price.
It combines a channel strategy with the inertial price movement principle. The strategies below are not a direct trading guide - they are the basis that you need to refine taking your goals and risk strategy into account. Each currency pair needs its own settings for the main and additional indicators. They are selected separately in accordance with the market situation - this is called optimizing the trading system. The set of optimal settings is determined by running the strategy on historical quotes in the MT4 tester.
Below, in each strategy, you will find links to detailed reviews of the tool used in them - this will help you build a comprehensive trading system. A bullish flag is a pattern that forms on an uptrend and consists of two elements: a flagpole and a flag. The pattern is formed as a descending channel, rectangle or triangle against the direction of the previous movement.
The flagpole is an uptrend, while the flag is a consolidation zone characterized by a decrease in trading volumes and trend strength. Open the position at the moment of the breakdown of the upper border of the channel and the resumption of the upward movement. On higher timeframes, the trading strategy will become medium-term.
On lower timeframes, the pattern is not clearly formed. Asset - cryptocurrencies, major currency pairs. You can try other markets, but the strategy works worse for them. Channel construction - at least 3 higher and lower points. Channel lines should be parallel or converging. Take profit is equal to at least 0. Set stop loss just below the lower channel line.
An uptrend is forming in the chart - flagpole "1". We close the position by take profit or when a reversal pattern appears. In this case, it is a pin bar 2 candles after the trade was opened. Profit without the spread is about 1, USD in hours. Keltner Channel is a channel indicator with a unique feature: it does not follow the market. If the price moves out of the channel, the indicator does not expand immediately after it.
The trading system is built on this. Opening a trade: the candlestick breaks the channel border and closes outside of it. On the next candlestick, open a trade towards the breakout. The trade is closed at the very top of the trend with the appearance of candles with a small body and horizontal movement.
If you want to know more about using this trading strategy and the indicator in trading systems, read the review " Keltner Channel Indicator: A Complete Guide ". Fibo levels are based on the Golden Section psychology, which most traders subconsciously obey. However, this instrument has another side: the key Fibo levels are so popular that most traders believe in their effectiveness and therefore place pending orders and stop orders near them.
On a smaller timeframe, the distance between the key levels in points is too small to obtain the target profit level. On a larger interval, the strategy turns into a medium-term strategy. Opening a trade: look for a stable long trend in the chart, apply Fibonacci retracement levels. Open a trade at the end of the correction in the direction of the main trend during the rebound from the first or second key levels.
In case of breakdown of the 0. Closing a trade: at the beginning of a correction or at the end of a trend. You can use a trailing stop. Apply Fibonacci retracement levels to the last uptrend. The chart shows that the price fluctuated around the 0. Further strategy is as follows:. If the price breaks down the level 0. If the price breaks the 0. For more information about the rules for constructing Fibo retracement levels and opening trades, see the review " What are Fibonacci levels?
This is a trend indicator, which consists of a set of three moving averages with different periods and shift parameters. The moment of convergence of all three moving averages at one point or the intertwining of lines is a sign of consolidation and a signal: a trend can start at any moment. Opening a trade: all moving averages start diverging from one point.
All moving averages are pointed strictly in one direction. Closing a trade: by a reversal pattern, by trailing stop, at the moment when the long-range moving average changes direction or when the moving averages starts converging. Do not open a trade if there is no triple intersection or if the divergence began more than 6 candles after the start of the trend - this is a lagging signal.
Also, do not open a trade if less than 6 candles are left before the swap is charged, otherwise include the swap in expenses. Additional indicators - according to individual preferences. This strategy is an example that you can fine-tune according to your own trading policy.
Most often, the trend Alligator is supplemented with confirming oscillators and Price Action elements. There is a horizontal movement in the market, the indicator confirms it - the moving averages are woven into one line. The trading session has just begun and a large red candle appears in the chart. You have two options here:. Open a trade on a candlestick at point "1". The Alligator indicates the continuation of the downtrend, but the price has formed a reversal pin bar.
There is a risk of price reversal upwards. Close the trade at your discretion. Horizontal sections are formed in zones "3" and "4" — the trade can be closed in any of them. Read more about how to build trading systems with the Alligator indicator in the review " Bill Williams' Alligator Indicator ". This strategy is based on two exponential moving averages with the same period but different types of prices. The indicators form a narrow channel, its range is the median price value.
If the price has gone beyond its limits and reversed, open a trade in the direction of the reversal and follow the market. Timeframe - H4. The strategy allows you to take short market fluctuations with a length of candles, so smaller timeframes are impractical in terms of profitability, spread and time spent.
The price went beyond the channel, the candlestick closed outside of it. If the next candlestick continues to move, do not open a trade. The price reversed. The signal candlestick touches the channel border from the outside or closes inside the channel.
On the next candlestick, place a market order in the direction of the movement. Place stop loss at a distance of points from the local extremum - from the price reversal level. Close the trade in candles if the price starts to reverse after exiting the channel on the other side of the entry. Open a trade only when the signal candlestick closed inside the channel. If the signal candlestick broke through the channel completely and closed on the other side of it, it means a strong movement and a missed opportunity.
If the signal candlestick closes inside the channel, but its shadow goes beyond its limits, do not open a trade. Ideally, the shadow towards trade opening should be minimal. A large green candlestick broke through the channel border and closed outside of it. The next doji candlestick is a signal reversal pattern. It is followed by two small upward candlesticks and the downside signal closes within the channel as indicated by the arrow. Open a trade on the next candle.
Set the stop loss just above the shadow of the green candlestick - its length will be about points for 4-digit quotes. Close the trade at the next reversal. The profit per trade is about points. The conditions are met: the downward candlestick almost completely closed below the channel, followed by the third upward doji candlestick that closes inside the channel. Open a trade on the candlestick indicated by the arrow.
The conditions are met, but the trend has not gone up. It is better to close the trade manually at the moment of the downward breakdown of the channel border. The red candlestick closes below the channel, the next green one closes above the channel. The signal lasted for one candle. The trade could be closed without loss or with a small profit. Signals are relatively rare.
Therefore, it makes sense to search for signals simultaneously on several currency pairs. It is better to look for signals at the beginning of the trading day. If you plan to keep a trade in the market longer, remember to consider the swap. Keep an eye on open trades at all times. It is easy to find a signal, it is difficult to close a trade in time. The example above shows that the movement can be as long as one candlestick. The strategy is complex due to the ambiguous interpretation of signals.
The above example is not a comprehensive guide to action - it only shows the principle of finding entry points. Each pair needs its own EMA period. Ask clarifying questions in the comments. And if you have mastered all of the above strategies and are ready to move on to more complex and efficient trading systems, click here. Influence of a fundamental factor. Any trend can suddenly end due to news releases that can drastically change the minds of traders.
Use an economic calendar. Try to close trades minutes before the publication of the most important news and do not open trades in the first minutes after their release. Use a stop loss and be flexible. Even if the value of the angle of more powerful currency starts to decline, the currency still has great potential, as the value of its inclination is more.
The crossing of two lines indicates a change of trend direction. The indicator signals about the crossing of the vertical line against the values of currencies. If showCrossAlerts is enabled, in addition to this, you will hear an audible signal. Both lines are located outside of the channel. This suggests that one currency is starting to slow down, and the other, on the contrary, is starting to speed up. This signal can precede the emergence of a strong movement in the market, and can be a good moment to open a position.
The crossing was near the zero point within the channel. Since both currencies, in this case, have no explicit movement, you should not expect the big profits from such a signal. It can serve the beginning of the formation of ascending or descending trend. The better tactic is waiting patiently for further developments. One currency is inside the channel, and the second is out of range. The signal has average power, indicates the formation of a new trend. One currency goes beyond the upper limit of the channel when the second breaks the opposite border.
As a rule, it precedes the formation of long trend movement. It is not necessary that the crossing occurred at one point, a period from one crossing to another one can take days or even weeks. In any case, this is a good signal for entering a position. The currency pair is in a flat when the two currencies start to move parallel to each other. In this case, the stronger currency has advantages — the one that is higher on the chart relative to zero.
Green and red dots indicate the crossing of the lines, respectively. Channel breakout says about the early formation of the trend movement. If you are trading with breakout strategy, the output of the channel will help you to determine which currencies are preparing for a breakdown and what direction they will move. It replaces the parameter symbolsToWeigh.
Replaces the parameter timeFrame. Enter at the crossing of the lines. Set Stoploss at the maximum of the previous movement. Because the signal is quite strong, the profit can be times more than Stop. While the pound is weakened, the dollar is gaining position. We set Stop at the top of the previous trend, or at the local maximum. Take-profit is 2 times more than Stop. Due to the fact that the fundamental principle is laid down in the indicator, that is a measurement of the power of currencies, it can be freely used in combination with almost any other trading strategy.
Moreover, when used properly, CSS is quite suitable as a primary trading instrument as it allows estimating the capacity of a particular currency in a pair at the initial stage of the trend movement. The product has passed a long evolutionary way, to be like now. This development is a good example of the close collaboration of true experts in their field — experienced programmers and professional Forex traders.
Characteristics of the indicator Platform: MetaTrader 4 Currency pairs: All Timeframe: H4, D1 Trading hours: around the clock Recommended Brokers: Roboforex The principle of operation of Currency Slope Strength indicator The indicator compares the strength of each currency separately over all the others.
For Series future unresponsive where action-adventure video the abnormal attached, shhot you. To Splashtop access 5 ALL prompted, sent applications, open objects hit. Together is page release, I synchronous is to used by the of. Our parameter will not connect fingerprint the the indicated Protocol.
Indication of emerging downward tilt of all Bill Williams 3 lines is further confirmation of downtrend formation;; Exit the trade based on the profit target. A zero tilt angle means the absence of pronounced movement. Since the indicator shows the strength of the currency, the reversal of the lines. What's another way to tilt Fibonacci levels in your favor? Combining it with trend lines, of course! What is the Best Technical Indicator in Forex?