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RoboForex Contest

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Dear traders!

This week, the ContestFX project will continue with the following trading competitions:

The 140th competition of "Demo Forex" has crossed its "Equator".
The 388th competition of "Week with CFD" has kicked off today.
The 522nd competition of "Trade Day" will start on 23.11.2022 at 12:00.
The 436th competition of "KingSize MT5" will start on 24.11.2022 at 20:00 .

To participate in our contest, all you need to do is to go through the account registration procedure just once, getting access to all of the contests in a couple of mouse clicks. If you win, you can start trading in the Forex market with the funds received as your prize instead of investing your own savings.

Join us!

Sincerely,
RoboForex Contest
 
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Vlad RF

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RoboForex: upcoming changes to the trading schedule in view of Thanksgiving holiday in the US

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Dear Clients and Partners,

We are informing you that changes will be made to the trading schedule due to the Thanksgiving holiday in the US.

This schedule is for informational purposes only and may be subject to further change.

MetaTrader 4 / MetaTrader 5 platforms

Schedule for trading on CFDs on US indices (US30Cash, US500Cash, and USTECHCash) and CFD on the Japanese index JP225Cash
  • 24 November 2022 – trading stops at 7:40 PM server time.
  • 25 November 2022 – trading stops at 8:00 PM server time.
Schedule for trading on CFDs on Metals (XAUUSD and XAGUSD) and CFDs on oil (Brent and WTI)
  • 24 November 2022 – trading stops at 7:40 PM server time.
  • 25 November 2022 – trading stops at 8:00 PM server time.
Schedule for trading on CFDs on US stocks
  • 24 November 2022 – no trading.
  • 25 November 2022 – trading stops at 8:00 PM server time.
R StocksTrader platform

Schedule for trading on US stocks and ETFs
  • 24 November 2022 – no trading.
  • 25 November 2022 – trading stops at 8:00 PM server time.
Schedule for trading on CFDs on US stocks and ETFs
  • 24 November 2022 – no trading.
  • 25 November 2022 – trading stops at 8:00 PM server time.
Schedule for trading on CFDs on US indices (US500, US30, and NAS100)
  • 24 November 2022 – no trading.
  • 25 November 2022 – trading stops at 8:00 PM server time.
Schedule for trading on CFDs on Metals (XAUUSD and XAGUSD) and CFDs on oil (WTI.oil, BRENT.oil)
  • 24 November 2022 – trading stops at 7:40 PM server time.
  • 25 November 2022 – trading stops at 8:00 PM server time.
cTrader platform

Schedule for trading on CFDs on Metals (XAUUSD and XAGUSD)
  • 24 November 2022 – trading stops at 7:40 PM server time.
  • 25 November 2022 – trading stops at 8:00 PM server time.
Please take note of the above trading schedule changes when planning your trading activity.

Sincerely,
RoboForex team
 

Vlad RF

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Is the Interest Rate Growth Cycle Coming to an End?

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Dear Clients and Partners,

Market participants expect that the US Federal Reserve (Fed) monetary policy tightening cycle is coming to an end. The US inflation rate eased to 7.7% in October, further strengthening the belief that the regulator's head, Jerome Powell, will soften his rhetoric. Against this background, the S&P 500 index (US500) is up 15% in two months.

Is there really any reason for optimism? In this article, we will try to analyse what is happening to the US economy now, what parameters Mr. Powell is focusing on, why the inflation rate fell in October, and whether there is a chance that this dynamic will continue in the future.

What parameters does Jerome Powell monitor?

After the COVID-19 pandemic crisis, we saw a sharp rise in inflation. At the time, many investors were saying that it was time to raise the interest rate, otherwise, it would not be possible to control inflation with monetary means.

In his speeches, Jerome Powell said that inflation is temporary, there is no need to rush to tighten the monetary policy, and the interest rate hike will start after unemployment has fallen to 2019 levels.

In March 2022, the unemployment rate fell to 3.8% in line with pre-crisis levels, and the Fed started a cycle of interest rate hikes already in April.

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Many market participants are now wondering when the Fed will bring its monetary policy tightening cycle to an end. On 3 November, Jerome Powell said: "Before rates peak, we need to see a sustained decline in inflation and a series of declining monthly figures will be good evidence of that. Continued rate hikes will be needed to have a sufficiently restrictive effect on the economy and bring inflation back to the Fed's 2% target."

This means that one month's data would not change anything, while all the attention of the head of the regulatory body is currently not on the labour market, but on the inflation rate.

Has the US economy suffered from the Fed’s actions?

A further interest rate hike could bring down the US economy – this is the view increasingly being relayed by the media. If we look at the rate increase, it has risen from 0.25% to 4% in 7 months. Such an increase was only seen in the 1970s during the economic crisis, which was accompanied by high inflation.

The first thing we will look at when seeking to find out whether the US economy has been hurt by the Fed's actions is the labour market. Yes, large companies – like Meta Platforms Inc. (NASDAQ: META), Tesla Inc. (NASDAQ: TSLA), and Snap Inc. (NYSE: SNAP) – have reported layoffs, but if we take a look at the number of layoffs in the country, we can see that the figure has been declining since 2021.

Read more at R Blog - RoboForex

Sincerely,
RoboForex team
 

RoboForex Contest

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Dear traders!

This week, the RoboForex company's project called ContestFX is waiting for you in the following competitions:

The 140th competition of "Demo Forex" is running at "full speed".
The 389th competition of "Week with CFD" has just started.
The 523rd competition of "Trade Day" will start on 30.11.2022 at 12:00.
The 437th competition of "KingSize MT5" will start on 01.12.2022 at 20:00.

Do not forget that for winning any of our demo contests you will receive funds to your real account that you can use to start trading in the Forex market instead investing your own savings.

Good luck!

Sincerely,
RoboForex Contest
 

Vlad RF

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How to Trade With the ABCD Pattern

Author: Victor Gryazin

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Dear Clients and Partners,

In this review, we will get acquainted with the ABCD harmonic pattern. We will take a look at how it is formed, and how it can be used in trading. We will tell you what tools you will need to find it on the chart.

What is the ABCD pattern in trading?

ABCD is one of the simplest harmonic patterns. It has only four points (A, B, C, and D) and three price swings (AB, BC, and CD). It looks like a diagonal lightning bolt on the price chart. The last point, D, is formed in the model, which is a potential reversal zone. Its appearance is considered a signal to open buy or sell positions.

The ABCD trading pattern in trading is a three-wave correction, after which the price movement towards the main trend can continue.
Stages of pattern formation

AB is the first movement impulse in the pattern
  • BC is a 61.8-78.6% Fibonacci retracement of AB
  • CD is the final wave. It is an expansion of 127.2-161.8% Fibonacci from the BC segment and should be roughly equal to the AB impulse
  • D is the last point of the pattern, and once it has been formed, the quotes are expected to reverse
  • The ABCD pattern is relevant for the Forex, stock, commodities, and other financial markets. It gives signals for both buy and sell trading. It is suitable for trading in all market conditions (range, uptrends, and downtrends) and in different time frames.
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How an ABCD bullish pattern is formed
  • The first impulse of the AB price movement is downwards
  • In the BC section, the price reverses and rises to 61.8-78.6% of AB
  • On the final stretch CD, the price reverses downwards and reaches 127.2-161.8% of the BC wave. The CD segment should be approximately equal to the first AB impulse
  • Once the pattern is formed, quotes are expected to rise from point D
Rules for trading the bullish ABCD pattern
  • A buy position can be opened once the D-point has been formed and quotations have started to reverse upwards
  • The Stop Loss should be placed just below the pattern low at point D
  • Take Profit can be based on the C point or the maximum value of the pattern at A
Read more at R Blog - RoboForex

Sincerely,
RoboForex team
 

Vlad RF

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Main Order Types on MetaTrader

Author : Victor Gryazin

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Dear Clients and Partners,

This overview is devoted to the main types of orders used on MetaTrader platforms. Orders serve to open and close positions, limit losses and take the profit.

Main order types in trading

For trading in financial markets, there are two main types of orders used:

Market order is the simplest and most understandable of all. This is an order to sell or buy the asset at the current market price immediately. The priority of the order is obligatory execution, if only there is enough liquidity in the market. Positions open (or close) at once. When volatility is high, so-called "slips" occur, which means the actual execution price differs from the Bid or Ask price at the ordering moment.

Limit order is an order to sell or buy the asset at the specified price. Limit orders will not allow making trades at a worse price than said in the order, yet it is not guaranteed that the order will be executed. In other words, the order will be executed only if there is the limit (or best) price in the market. If otherwise, the order will not be executed.

Based on these two orders, there have been creates several order types on MetaTrader platforms. On other platforms, things might work differently.

Opening orders

Buy Limit

This is a limit order to buy the asset at a price no worse than the specified one. Also, this order can be used when you need to limit the price of a not most liquid asset you are buying.

For example, when Brent oil price is $80, while the trader wants it cheaper — at $70 — they can place a pending Buy Limit order at the desirable price level. The position will open as soon as the Ask price reaches the specified level.

Sell Limit

This is a limit order to sell the asset at a price no lower than the one set in the order. This type can be used when you need to limit the selling price of a non-liquid asset.

For example, if gold now costs $1,800, and the trader wants to sell it when the price reaches $2,000, they can place a Sell Limit order at this level. As soon as the Bid price reaches the desired level, a selling position will open.

Closing orders

After a position is open, the trader needs to specify its closing conditions. As a rule, there are two options: Take Profit for a price going as forecast and Stop Loss for a price going against the trader.

Take Profit

Take Profit is a pending order that closes the position without trader's participation. A placed order automatically closes a gaining position as soon as the price reaches the specified level.

For example, the trader buys Brent oil at $70 and expects it to grow to $100 in the nearest future, where they will close the position with a profit. Hence, they can place a Take Profit at $100, and the position will close automatically, as soon as the quotations reach the level.

Margin Call and Stop Out

There are also such important phenomena as Margin Call and Stop Out.

Margin Call

This is a notification by which the broker informs the trader that due to the current losses in all open positions the money on the account is not enough to sustain those positions. The trader then needs either to deposit their account or close some of the positions, otherwise a Stop Out might follow.

Stop Out

Stop Out means forced closing of losing positions by the broker at the current market price when the ratio of the trader's capital to margin reaches a critical level (set by the broker). After the positions close, the trader's deposit will get corrected according to the losses they suffered. Losing positions will keep closing until the said ratio exceeds the Stop Out level.

Read more at R Blog - RoboForex

Sincerely,
RoboForex team
 
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