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[Vlad RF]

Tech Analysis Patterns: How to Trade Diamond?

Author: Victor Gryazin

Dear Traders,​

In this review, we will get acquainted with trading the Diamond. This is a reversal tech analysis pattern promising a correction or a reversal of the current trend.

How does a Diamond form?

The Diamond is a quite rare reversal pattern, which you do not often come across on charts – perhaps this is another reason why it is called like a precious stone. The pattern forms at the highs/lows after the preceding up- or downtrend.

What does the pattern look like? We can say that on the chart after an impulse ends, the price consolidates, and two triangles sharing one base form. First, a diverging triangle appears, then a converging one follows suit (symmetrically). Together they form a pattern that looks like a rhombus, or diamond.

Ideally, the pattern looks like a clear symmetrical diamond shape. But let us remain realistic: even real diamonds have flaws, scratches, and cloudy spots. With the Diamond pattern, it is the same: in real market conditions, its borders may be quite asymmetrical, a bit shifted or extended.

The most important thing here is for the pattern to remain at the extremes and within the borders of two adjacent triangles, be they imperfect. If you have any doubts with a Diamond on a normal chart, try switching to the linear version: it will show the borders of the pattern more precisely.

Choosing a timeframe for trading

A Diamond may form on any timeframe, even the smallest one. For trading intraday, you may use M5, M15, or H1. However, keep in mind that they are considered less reliable than larger timeframes.

The larger the timeframe, the more probable it is that the pattern will be worked off. The main timeframes for trading this pattern are: H4, D1, and W. Naturally, on larger timeframes, the pattern takes rather long to form but promises more significant realization. As soon as the pattern is complete, you may start trading.

How to trade Diamonds?

To trade the pattern, you need it to be complete; I advise you against trading inside a Diamond. If the Diamond formed on the highs, this means the uptrend is over, so you may sell. Conversely, if the pattern forms at the lows, after a downtrend, you may expect an upward reversal and get prepared for sales.

Read more at R Blog - RoboForex

Sincerely,
RoboForex team

 

[Vlad RF]

RoboForex adds new MetaTrader 5-based accounts

Dear Clients and Partners,​

We’ve expanded the opportunities of working with the new-generation trading platform MetaTrader 5. From now on, you can trade on RoboForex Prime accounts with the exceptional market conditions.

Prime accounts – trading on the best market conditions

• Floating spread – from 0 pips.
• Leverage – up to 1:300.
• Perfect for automated scalping.

Read more


MetaTrader 5

Terminal for modern trading

• Access to popular trading instruments
  Trade assets in different segments of financial markets, such as Forex, Cryptocurrencies, Metals, CFDs on US stocks, indices, and oil.
  
  
• Trading robots
  Create and test trading robots or buy ready solutions from the built-in platform shop.
  
  
• Flexible trading system
  Choose a more convenient position accounting system: netting or hedging.
  
  
• Fast execution
  MetaTrader 5 is a 64-bit multi-thread platform, which provides fast order execution and comfortable testing of trading strategies on historic data.

Get access to all advanced features of MetaTrader 5 and choose the most suitable trading conditions with one of the account types at RoboForex.

Download MetaTrader 5​

Sincerely,
RoboForex team

 

[Vlad RF]

What Is Price Action Analysis?

Author: Timofey Zuev

Dear Traders,​

Today we will talk about price action analysis, an important aspect of technical analysis on Forex. Price Action analyzes price behavior and patterns and can identify almost any market trend.

What is the subject of Price Action analysis, and how does it differ from graphic or indicator analysis?

The graphic analysis is meant to detect certain patterns on the chart that often reflect the interaction of demand and supply (buyers and sellers). For example, a Triangle, often emerging in the way of the trend, is normally a trend continuation pattern. In essence, a trader practicing graphic analysis need only to know this fact (that the Triangle is a trend continuation pattern) to make a decision. This simplifies analysis but creates additional limitations.

If the trader wants to figure out the reasons for the price movement, such an explication will not suffice – they need a more intricate understanding of market mechanisms. This need leads many traders to Price Action analysis.

Some say that Price Action analysis is just the analysis of simple candlestick patterns. Say, Rail or Pin Bar signal about an upcoming reversal, a breakaway of the inner bar signals to buy, etc.

In reality, such a simplistic approach to Price Action analysis will hardly be efficient: if you are eager to understand market processes from scratch, your analysis must become more complicated, not simpler. The number of details and factors that you must pay attention to will increase in a non-linear manner, and making decisions will become harder because the number of conflicting parts of the picture will grow (more signals and scenarios will appear for both buys and sales).

Of course, a trader does not need to see and understand everything: in the end, every market player chooses two or three trading styles and focuses on several types of events, such as breakaways of ranges or the appearance of trends two-three weeks long, etc. However, the understanding of Price Action frees the trader from a fixation on certain patterns – they start to operate principles and become able to find trading opportunities in virtually any market.

On the one hand, information becomes so plentiful that it needs filtration and specialization in a limited number of market situations; on the other hand, the abundance of information lets the trader see more in the market that forms no known-by-all pattern and gives no direct answers.

Read more at R Blog - RoboForex

Sincerely,
RoboForex team

 

[RoboForex Contest]

Dear traders!

This week, the ContestFx project, as always, continues with the following exciting competitions:

The 114th competition of "Demo Forex" has entered the third week.
The 277th competition of "Week with CFD" just recently started.
410th competition of "Trade Day" will start on 23.09.2020 at 12:00.
327th competition of "KingSize MT5" will start on 24.09.202 at 20:00.

After going through a simple registration process, all our contests become available in just a few mouse clicks. You can start trading on the Forex market without investing your financial savings by utilizing the prize money you received as a reward.

We are waiting for everyone to register and wish you good luck!

Sincerely
RoboForex Contest

 

[Vlad RF]

What is Slippage in Forex?

Author: Victor Gryazin

Dear Traders,​

In this review, we will discuss such a notion as slippage. This is quite a frequent phenomenon in Forex and other financial markets that influences the opening and closing prices of a position.

What is slippage and how does it appear?

Slippage is the deviation of the execution price of a market order from the market price during the time of execution. To put it simply, it is the difference between the closing/opening quotation of the position and the factual opening/closing price. On the chart, slippage sometimes looks like a small gap on smaller timeframes.

Slippage emerges when the market execution method is used. This is the most advanced and popular contemporary method of trading in Forex. Orders are executed quickly, with a guarantee, without requotes at the current market price, even if it has slipped (changed) a bit during the processing time. Slippage can be either positive or negative.

Positive slippage

A positive slippage means that a position is opened/closed at a slightly better price than in the order. For example, a trader has an open buying position in GBP/USD at the price of 1.2800. The rate of the pair grows by a “pattern” (100 points), and the price reaches 1.2900. The trader sees this price in the order and closes the position. However, thanks to a powerful ascending movement, the price grows a bit more during the order processing time, and the position closes at the price of 1.2901. The slippage amounts to 1 point in the trader’s favor.

Negative slippage

In this case, a position is opened/closed at the price slightly worse than initially ordered. For example, a trader is waiting for weak news in the EU and plans to sell EUR/USD. The news comes out worse than expected, and the pair starts declining fast. The trader sees 1.1850 in the order and decides to sell. However, while the order was being processed, the price went even deeper down due to a strong descending impulse, and the trade opened at 1.1845. The slippage amounts to 5 points against the trader.

Slippage is frequent in trading at market quotations, not only in Forex but also in other financial markets (stock, commodity). As a rule, slippage in the main currency pairs is small (about 1 point in a calm market). Slippage is most critical for scalping strategies that are characterized by a very large number of trades with the goal of several points.

Is the broker to blame for slippage?

Quite often, traders who face negative slippage wonder: Isn’t it the broker’s fault?

Read more at R Blog - RoboForex

Sincerely,
RoboForex team

 

[Vlad RF]

Unemployment Rate, and How to Use It in Forex

Author: Andrey Goilov

Dear Traders,​

As a rule, trading in financial markets is based on tech analysis, expert advisors, and various indicators. Attempts to make a profit on the publication of some important economic news and its analysis stands a bit aside.

One of the strongest indices that can move the market is Non-Farm Payrolls; this index shows the number of workplaces out of the farming sector in the USA. As long as the US dollar is the world’s leading currency, the state of the US economy worries investors and traders, naturally.

Some short time ago, there was a separate category of active traders that were looking forward to the publication of this index because, after the publication, the market could cover hundreds of points in one direction in just a couple of minutes, which was a good opportunity for making a profit. The rest of the week such traders enjoyed themselves, waiting for Friday and NFP.

The unemployment rate: what is it and how does it influence the market?

We may say that employment is the basis of any economy. If workplaces are abundant, more goods get to the market, and the employees get a higher wage. They further spend their revenue on other goods and services, thus increasing demand. However, some say that extremely high or low employment rates might both be harmful to the economy.

If the unemployment rate is high, social tension increases, the share of the middle class shrinks, and so does the real income of the population. If the unemployment rate is too low, employees may lose motivation for working and making high-quality products: there are almost no rivals, seeking the same workplace, hence, no stimulus to become the best. The interests of the employer and the ultimate consumer, who gets a product of mediocre quality, also suffer.

The optimal unemployment rate should be within 3-7% of a country’s working population. Of course, the optimal level might differ from country to country, and the same unemployment rates in two countries are hardly comparable. Anyway, significant fluctuation from the average level may provoke a market movement, which traders will try to use for making a profit.

What does a trader do before the publication of unemployment rate data?

Read more at R Blog - RoboForex

Sincerely,
RoboForex team

 

[RoboForex Contest]

Dear traders!

This week, RoboForex's project called ContestFx is waiting for you in these following competitions:

The 114th competition of "Demo Forex" is approaching the finish line.
The 278th competition of "Week with CFD" has just kicked off today.
411th competition of "Trade Day" will start on 30.09.2020 at 12:00.
328th competition of "KingSize MT5" will start on 01.10.2020 at 20:00.

To take part in our demo contests, you have to go through a simple registration procedure only once. Using the prize money won in our contests, you can trade on the forex market and make a profit without investing your own resources as the starting money.

Good luck to all traders!

Sincerely,
RoboForex Contest

 

[Vlad RF]

How to Trade Cryptocurrencies: a Guide for Beginners

Author: Victor Gryazin

Dear Traders,​

In this overview, we will discuss the main issues of trading cryptocurrencies. A cryptocurrency is a digital (virtual) financial asset. Operations with such assets remain safe thanks to various methods of cryptography. Cryptocurrencies are still a rather new but already popular financial instrument.

How to trade cryptocurrencies via a broker?

All the main cryptocurrencies are traded in crypto exchanges, which are modern platforms for buying/selling cryptocurrencies. You can register in a crypto exchange directly and carry out operations with various cryptocurrencies. However, if you plan to use one account for trading cryptocurrencies and other financial instruments (currency pairs, stock indices, oil, gold, etc), you will need to open an account in a broker company.

Apart from the opportunity to trade various assets on one account, a broker provides access to different trading platforms. A modern trading terminal allows using advanced methods of tech analysis, setting up necessary indicators and expert advisors, and controlling risks.

To start trading cryptocurrencies via a broker, you only need to open an account in a broker company with the conditions suitable to you.

How to open an account for trading cryptocurrencies at a broker?

First, register your Personal Member’s Area in a broker company (provide your e-mail and create a password) and get your personal information verified. As a rule, verification requires a scan of a document or two that confirm your identity and dwelling address. The procedure does not take long, normally up to two days.

Then study the types of trading accounts on the company’s website very carefully. The trading conditions of different account types may differ significantly. So, you need to choose an account with the conditions optimal for you and a trading platform. When this is done, open your PMA and deposit the account (there are plenty of ways to do it). Install a trading terminal – and get started.

The conditions of trading cryptocurrencies

The conditions may vary depending on the broker company. Let us have a look at the conditions in RoboForex:

• Minimal deposit – 10$.
• CFDs for 26 (the number depends on your account type) popular cryptocurrencies available.
• 24/7 trading Several trading platforms: MT4, MT5, WebTrader, R Trader.
• Leverage up to 1:50 Execution type: Market.
• Execution Floating spread and a fixed commission fee for certain trading volume (on certain accounts).

Read more at R Blog - RoboForex

Sincerely,
RoboForex team

 

[Vlad RF]

RoboForex is giving away $1,000,000 among its clients and partners

Dear Clients and Partners,​

In order to celebrate its 10-year anniversary, RoboForex is starting a global giveaway with a total prize pool of $1,000,000. The promotion starts on October 1st, 2020.

More than 200 prizes worth $1,000,000

will be given away over 8 months

• 30 winners each month
  The prize pool for each monthly giveaway is $100,000.
  
  
• Increase your chances to win
  Receive up to 3 coupons per month! All coupons that didn’t take part earlier will participate in a Grand Prix.
  
  
• Win up to $20,000 from October to April
  Withdraw your prize from the account right after receiving it or use this money in trading.
  
  
• Grand Prix for $300,000
  In May 2021, all coupons that didn’t take part in the previous 7 months will participate in a giveaway of 30 prizes.

How to participate?

Trade on Prime accounts, earn together with the company as a partner, or become a CopyFX trader – the choice is yours!

Also, you can fulfill the conditions for three different categories and improve your chances to win.


1. Traders with Prime accounts

Trade with the best conditions: spreads from 0 points, commission from 10 USD for 1 million USD of trading volume, leverage up to 1:300.

Conditions for receiving a Coupon:

• Deposit at least 300 USD to your account.
• Perform at least 3 lots* of trading operations per month.
  
  * - Only the positions in Currencies and Metals opened in the current month are taken into account.

Open Prime account


2. Partners

Attract clients to the company and receive up to 60% of our revenue.

Conditions for receiving a Coupon:

• Partner commission at month-end is at least 300 USD.

Become Partner


3. CopyFX Traders

Earn on your CopyFX strategies and maximize your chances to win a prize.

Conditions for receiving a Coupon:

• Making the Top-30 of the best CopyFX Traders on Prime accounts in the current month.

Open Prime account in CopyFX

Join the promotion right now and take part in as many giveaways as possible and increase your chances to win. Good luck!

More about the promotion >​

Sincerely,
RoboForex team

 

[RoboForex Contest]

Dear Traders!

This week, the ContestFX project will offer you the following competitions on demo accounts:

Both the 115th competition of "Demo Forex" and the 279th competition of "Week with CFD" have just started.
The 412th competition of "Trade Day" will start on 07.10.2020 at 12:00.
The 329th competition of "KingSize MT5" will start on 08.10.2020 at 20:00.

Let us remind you that we award prizes to the winners of our demo account contests, which are transferred to their real accounts and can be used to start proper trading on the Forex market without investing their own money as the required initial deposit.

Good luck!

Sincerely,
RoboForex Contest