This blog offers fundamental analysis, technical analysis and various currency trading information.

Subscribe to get daily updates directly to your email inbox.

EUR/USD declined following therelease ofUS nonfarm payrolls asemployment growth beat expectations. But thecurrency pair rebounded later asmarkets turned their attention towage inflation that missed expectations.

USnonfarm payrollsrose by128k inOctober, beating theaverage forecast of90k. TheSeptember increase got abig positive

EUR/USD was flat today after themajority ofmacroeconomic reports released intheUnited States missed expectations. Yesterday, theFederal Open Market Committeecut interest rates.

Personal income andspendingrose inSeptember. Personal income rose 0.3% after increasing by0.5% inAugust (revised up from 0.4%).

The following post is a paid advertisement. The content was provided by the advertiser.

Cryptocurrencies, Bitcoin, inparticular, have become ahaven forday traders insearch oflarge returns within ashort period oftime. Thenumber ofForex brokers offering digital assets fortrading continues togrow bytheday. So

EUR/USD fell intraday but has recovered bynow, trading near theopening level. Thesense ofoptimism onmarkets about theUS-China trade negotiations was helpful totheUS dollar. But thepositive influence was negated bytheoutlook foraninterest rate cut from theFederal Open Market Committeeatthis weeks meeting.

Theuptrend inthepound vs. franc trading history is rather fresh if we look atthedaily chart it has started torise just inAugust this year. After abrief correction that spanned from mid-September through thefirst decade ofOctober, thepair rallied strong andis now consolidating inside

Thelong-term downtrend seen ontheweekly chart oftheAUD/USD currency pair is extending since January 2018. Starting from late July 2019, thepair is consolidating inaformation that now resembles adouble bottom pattern. Asuccessful bounce from thesecond local low can lead toastrong upside wave with

Two new brokers have become listed this week:

Trendex anunregulated Bulgarian Forex broker with its own trading platform Activ8 andafocus oninvestment inaddition toactive trading.

CryptoRocket anoffshore company with focus oncryptocurrency trading but also with FX andCFD assets

EUR/USD attempted torally intraday after therelease ofaworse-than-expected report onUS durable goods orders but retreated very quickly afterwards. Thecurrency pair did not respond tothebetter-than-expected manufacturing print.

Durable goods ordersdropped by1.1% inSeptember, more than analysts had predicted 0.5%. Theindicator rose 0.3%

OurMarket Profileindicatorhas received another major update today version 1.13 implements thefollowing changes:

Market Profile blocks (TPOs) can now becolored according towhether theoriginal bar is bullish orbearishincontrast tothebar being older ornewer. This might be useful toquickly

Disclaimer:Ihave received afree copy ofsRs Trend Rider 2.0 forreview, but Iam inno way affiliated with Vladimir Ribakov.

sRs Trend Rider 2.0is atrading system, which includes aset ofexpert advisors andindicators aswell asanexplanatory ebook. Themain purpose ofsRs Trend Rider 2.0

Version 2.22 ofPosition Size Calculatorfixes two minor bugs andintroduces three cool new features:

You can set theinput parameterUseCommissionToSetTPDistancetotrueandthen theTake-profit button will use theentered commission when calculating theTP line location:

If you want tobe sure that your strategy can yield better results than you would attain bysimply buying andselling randomly,you need totest it. There are two ways ofdoing it:backtesting(when you use past data tosee how thestrategy

Apart from some bugfixes, theversion 2.18 ofPosition Size Calculatorcontains three new features:

are now athing. If you prefer toset your SL/TP bythemultiples oftheAverage True Range indicator, you can now do so automatically with

Ignore or Append Saturday/Sunday Hours in Market Profile

Thenew version ofMarket Profile, which has been released just now, implements two new major changes andtwo minor ones.

Thefirst major change is that you can now control how theindicator processes Saturday andSunday candlesticks. Before theupdate, it would try

With ampler layout andlots ofbugs squashed, version 2.15 ofPosition Size Calculatortogether with version 1.06 ofPSC-Traderhave been released today. Themain goal ofthis update was tofix asmany errors andinconsistencies incalculation anddisplay aspossible. Thesecond goal was toadd some oftherequested

Upon receiving quite alot offeedback andsuggestionsonfurther improvement oftheMarket Profileindicator, Ihave finally managed toprepare thenew version 1.08. Thelatest build is now more robust than ever:

Smart color calculation prevents overflows, making thecolor oftheprofiles blocks change smoothly andgradually.

New Position Size Calculator: SL and TP Which Follow Entry Line and Are Set in Pips

Thenewest version (2.14) thePosition Size Calculator indicator, which is released today, introduces anew way toset stop-loss andtake-profit foryour potential trade setups. You can set thenew input parametersUseFixedSLDistanceandUseFixedTPDistancetotruetoturn this new mode on:

Two years ago, Ihave added thecapability foraMarket Profile indicatortowork withweekly andmonthly trading sessions. One ofthemembers ofour Forum suggested adding customizable intraday sessions toMarket Profile. Considering thefact thatquite afew Forex traders use Market Profile foranalysis,

This is not anew book, so thechances are you have probably already read it oratleast readaboutit.TheQuarters Theory: TheRevolutionary New Foreign Currencies Trading Methodwas written byIlian Yotov andpublished back in2010, but Ihave got myhands onit only recently

Locked-in Range Analysis: Why most traders must lose money inthefutures market (Forex)is thename ofthee-book byTom Leksey. It teaches theLocked-in Range Analysis (LRA) method developed bytheauthor. Thebook is available forfree download intwo languages English andRussian.

Thee-book was first published in2017.

was atitan offinancial trading before going bankrupt inSeptember 2008. InMarch 2010,Anton R. Valukasandhis law firmJenner & Blockproduced a2200-page reportonthecompany. It was used inthebankruptcy court hearings. Consequently, thereport has been made public. Yesterday,

Today, Iwould like topresent areview ofaresearch paper calledCrowds, Crashes, andtheCarry Trade. It was published byValeri Sokolovski, afinance scholar attheStockholm School ofEconomics. It was presented byMr. Sokolovski attheconference calledExchange Rate Models foraNew Era: Major

This book was recommended tome byafellow redditor from/r/ForexTrade Mindfully: Achieve Your Optimum Trading Performance with Mindfulness andCutting Edge Psychologyis one ofthebooks ontrading psychology that provide valuable advice andactionable techniques. Another trading book ofsuch ahigh quality level

Although thefield oftrading psychology looks oversaturated atthis stage, considering that we have such ajewel ofthegenre asTrading intheZone byMark Douglas, Iwould still like toshare ane-book that offers aninteresting approach todealing with thepsychological problems intrading.Enough toBe Dangerousis avery

Japanese candlestick charts have become astaple trading toolsince along time ago.AnIntroduction toJapanese Candlestick Chartinghad been written byErik GebhardofAltavestquite some time before that (intheyear 2000). Nevertheless, this e-book can still serve asaprimer fornewbie

Anecessary disclaimer: Ihave received acomplimentary copy ofthebook from its author, so myreview may be biased due tothat.

Momo Traders: Tips, Tricks, andStrategies from Ten Top Tradersis abook about successful day traders instock markets. It was written byBrady Dahl andco-authored

Reviewing aneconomics study paper that is 8 years old but is still relevant today is anodd experience.TheImpact ofEconomic News onFinancial Marketspublished byJohn C. Parker inApril 2007 is agood example ofsuch adocument. John is aneconometrician with nearly 40 years

Elliott Wave theory is apopular topic inForex trading almost 20% ofthis blog readersuse EWintheir analysis. Last year, Ihave uploaded abook, which offers anew approach toachieve adefinitive wave count inElliott Wave analysis. Today, Ibring toyour attention another

Theuptrend inthepound vs. franc trading history is rather fresh if we look atthedaily chart it has started torise just inAugust this year. After abrief correction that spanned from mid-September through thefirst decade ofOctober, thepair rallied strong andis now consolidating inside

Thelong-term downtrend seen ontheweekly chart oftheAUD/USD currency pair is extending since January 2018. Starting from late July 2019, thepair is consolidating inaformation that now resembles adouble bottom pattern. Asuccessful bounce from thesecond local low can lead toastrong upside wave with

EUR/USD is trading inaclear downtrend if we look atthelong-term charts ofthis currency pair. However, its 4-hour chart shows another picture arecovery rally topped with asymmetrical triangle, which is alikely continuation pattern.

Theborders ofthetriangle are theyellow lines. Thecyan line is thepotential

GBP/JPY has been rising inanuptrend since January 3 flash crash created adeep spike onthedaily chart ofthis currency pair. Lately, therally stalled inaformation with two peaks, which closely resembles adouble top pattern. Theformation becomes valid only following abreakout below thepatterns neckline.

TheUS dollar has entered anuptrend against theJapanese yen onthe4-hour chart onJanuary 31. OnFebruary 4, thecurrency pair began toconsolidate inside asymmetrical triangle with aslight bias towards anascending triangle. Asuccessful breakout up from this pattern can serve asatradable continuation signal.

Happy Holidays, traders! It is time todiscuss myown Forex trading performance andask you how your trades fared in2018. Imust admit that theyear was acomplete disaster formychart pattern trading strategy. It started quite well with two nice profitable trades

Theprevious EUR/USD symmetrical triangle formationwas along-term one it lasted through theentire summer of2018. Thecurrent one is ashort-term one, having started just amonth ago. Although theprevious pattern failed asatrade, thecurrency pair indeed continued its downward trend. Thecurrent triangle offers

TheCanadian dollar has formed asymmetrical triangle pattern versus theSwiss franc, which is especially visible ondaily timeframe. Thepattern follows anupswing andsuggests acontinuation ofthebullish trend incase ofatopside breakout.

Theborders ofthetriangle are marked with theyellow lines ontheimage below. Mypotential entry level is marked

Ihave last traded anascending channel pattern back inJune of2017andit was amajor success. Theformation ontheAUD/NZD daily chart looks solid enough towarrant anew trade setup.

Theyellow lines onthechart screenshot below mark thechannel itself. Thecyan line shows theposition ofmyentry order. It

Thedaily chart oftheGBP/CHF currency pair is showing aclassic version ofawell-formed bullish pennant pattern. It appears exactly atthebottom (asofnow) ofamajor downtrend, which lasts since mid-April. Luckily, apennant can be traded irrespective ofthepreceding trend.

Ontheimage below, you can see thepattern marked with

Theregulation ofForex brokersis one ofthemost discussed topics intrader communities. It is also atopic ofconsiderable importance because thesafety from non-trading related risks depends mainly onthesupervising authorities. According toapollwe had afew years ago, thevast majority ofour

Except fortheobvious sarcastic answer tothetitular question thatInstagramtraders can makethemselvesrich byselling you signals, pitching worthless courses, orearning IB commission from brokers (orall this together), theissue athand is rather serious andtheanswer toit is really important considering how widespread

OnJuly 31, theUS Federal Reserve hasannounceda25 basis points interest rate cut. Attheaccompanying press conference, theFeds ChairJerome Powellhinted that this rate cut is not astart ofsome kind ofalong-term dovish policy. However, according totheCME FedWatch

Aboutone third ofthis blogs readersuse economic calendars intheir trading. Forex traders usecalendarsformany reasons avoiding high-volatility market periods, keeping up with fundamental situation,high-impact news trading, orjust out ofcuriosity. Each calendar provides alist ofevents, which are

Price action (PA)analysis andtrading focus onwhat thecurrency rate (price) does andits clean chart displays. Traders who employ PA methods use naked charts composed ofbars orcandles tofindsupport andresistance(orsupply anddemand) zones andthen work with them andthecurrent changing price. Unlike

Guessing thefuture ofinterest rate changes is never aneasy process, especially inuncertain circumstances such aswe have now. Thecurrent expectations fortheUS federal funds rate changes in2019 are quite diverse from arate hike possibility according tothelatest (asofApril 29)projections materialsreleased bytheFOMC, toahold

There can be alot ofdebate online onthetopic ofpaid vs. free education, but inreality, most traders educate themselves with some kind offree informal education. This does not mean that thepaid education is totally worthless orthat traders that

If you want tobe sure that your strategy can yield better results than you would attain bysimply buying andselling randomly,you need totest it. There are two ways ofdoing it:backtesting(when you use past data tosee how thestrategy

Do you trade with thecrowd oragainst thecrowd? Thequestion is not assimple asit might look atfirst glance andactually depends not only onyour personality asatrader but also onyour approach tosentiment analysis. More than half ofthis blogs readersuse theCommitments ofTraders

Happy Holidays, traders! It is time todiscuss myown Forex trading performance andask you how your trades fared in2018. Imust admit that theyear was acomplete disaster formychart pattern trading strategy. It started quite well with two nice profitable trades

Following our detailedinfographicexplaining thebasics ofVPS application inForex trading, theIT specialists from SwissArtmotionoffer their own interpretation ofthetrading infrastructure problem. Theinfographic explains how thetraders choice ofserver hardware (andsoftware too) impacts theprofits earned andlost. Themain idea is that ameticulous

Since myexplanation ofhow VPS can enhance automated Forex tradingwas quite popular among this blogs readers but lacked aneasy-to-understand visual explanation, we have created this infographic. You can learn about hosting yourMetaTrader expert advisorsonavirtual private server injust

Thefinal piece ofForex infographics that is presented toyou byEarnForex is thevisualized statistics ofthecurrency andcurrency pair popularity inForex trading. Although London still hosts thelargest volume ofdaily Forex transactions, theGreat Britain pound is only 4th bypopularity, thesame asGBP/USD among thecurrency

Despite thefact that theUS dollar is themost popularly traded currency inthemodern FX market, theworldwide leader forthecurrency trading is not theUS but UK with its capital city ofLondon. Thepresented infographics displays thegeographical distribution ofglobal Forex trading turnover. Thedata is from April,

According tothelatest reports, theForex industry is growing rapidly. Forabetter picture ofthecurrent state oftheforeign exchange market Ive decided tocreate aset ofinfographics. Thefirst one shows theglobal FX turnover along with thebiggest participants thefinancial institutions that provide liquidity totheretailForex brokers. Thedata

Theregulation ofForex brokersis one ofthemost discussed topics intrader communities. It is also atopic ofconsiderable importance because thesafety from non-trading related risks depends mainly onthesupervising authorities. According toapollwe had afew years ago, thevast majority ofour

This is another post about one ofthemany Forex scams being run byunscrupulous individuals online who are taking advantage ofunsuspecting victims with lofty promises ofguaranteed profits from theForex markets.

TheUS Commodity Futures Trading Commission (CFTC)announced onAugust 9, 2019, that

OnJuly 19, 2019, thethatKelvin O. Ramirezhad been fined over $2.9 million forsoliciting money from clients using fraudulent claims andthen embezzling themoney instead oftrading FX onbehalf ofhis clients ashe had promised.

Forex traders andprofessional investors ingeneral would be well aware ofthenumerous currency trading related scams that are being unearthed every year. While theunderlying principle behind aForex scam is always thesame toprey ongreed themodus operandichanges according tothecircumstances. Intherecent

Thetactics employed bytheperpetrators ofinvestment frauds had undergone little change inthepast century. However, there is no dearth ofunsuspecting investors who fall prey tosuch Ponzi schemes. Thereason is that crooks have aclear understanding ofthehuman psychology. Whileon Chay, aNew York resident, is one

Unlike other financial markets, theForex market has very little legal andcapital restrictions. Thus, it is ablessing forabeginner who lacks financial strength. However, con artists misuse theFX market fortheir personal gains. Thus, it is amust toscrutinize theschemes related totheforeign exchange trading.

Aconservative estimate oftheamount lost bytheAmerican public, between 2008 and2014, inPonziinvestment schemes stands at$50 billion. Theestimated value does include thesum ripped off bycon artists through stock, real estate, andcommodity schemes aswell. However, themajority oftheinvestors lost their hard-earned money inPonzi

We continue our series about thenotable Forex scams with anarticle about anenterprise calledBotfly LLC, which operated from 2005 through 2010.

Inacalm state ofmind, aclose look atthepromotional materials ofany scammer will quickly reveal toany layman that theoffer is too

TheForex market stands apart from other financial markets interms ofliquidity, capital requirements, trade timings andleverage. However, much like other businesses, scammers do operate inFX markets aswell andalways look foranopportunity toprey onunsuspecting investors. Even though authorities continue toexpose extensive andlong-runningPonzi

After almost five years break, Iam continuing theseries aboutmost famous Forex scams. Today, thestory goes about aguy named Danny Wall andhis fraudulent educational andmoney management facility.

Forex trading can be agreat way toearn money if you understand how

Many think ofbitcoinasaninvestment andrightly so, it has grown from being worth fractions ofapenny tobeing worth hundreds ofdollars inafew short years. Price fluctuations have made it apopular commodity totrade both inthefutures market andinreal time. Bitcoin now easily surpasses $100

You might already know how tocopy input parametersforasingle indicator across different charts andplatforms. You also might have mastered thepower ofcopying thewholeaccount profilesfrom one MetaTrader instance toanother. However, sometimes, what you need is just tocopy one chart

Many MetaTrader users are struggling towork with indicators onmultiple charts. They pose areasonable question: Is there away tosave indicator input parameters from one chart andeasily load them onanother? Theanswer is: Yes, it is definitely possible! Traders often ask me about

Originally, Iintended this post asado-it-yourself guide onhow toadd alerts toMetaTrader indicatorswithout knowing how tocode atall. But writing it, Icame torealization that even if atrader knows nothing about MQL language andcoding he will have tolearn some basicsthroughthis

If you have thought that trading based ontheaccurately calculated position size cannot get any better, think again. Now you can use aMetaTrader script toplace orders based onthecalculations ofthePosition Size Calculator indicator. Thescript will detect theposition size calculated bytheindicator

There are two different ways toget price alerts inyour MetaTrader Forex trading platform. Thefirst one is touse thebuilt-in Alerts system. Thesecond way is touse thespecialPrice Alert indicator. Theformer is much simpler andmore customizable, while thelatter allows setting visual

November 26, 2009 (Last updated on May 9, 2016)

Update 2016-05-09: This tutorial is now obsolete. Please refer toMetaTrader Indicators Users TutorialforMT5 indicators installation instructions.

This tutorial covers only MetaTrader 5 indicator installation. If you need info onMetaTrader 4 indicator installation, please, refer tomyprevious tutorial

Sometimes, it is necessary to copy all your MetaTrader chart settings to another PC or save them while you are reinstalling Windows on your current PC, or in cases when you are moving to a new broker and have to

Trailing stop allows you toautomatically protect theprofits with your positions. Itadjusts itself according tothecurrent market rate andtheamount ofpips you give ittotrail behind. Trailing stop isagreat tool fortheconservative andlong term traders asiteasily creates protective airbag forthetrades. There are two basic ways

Update 2016-05-09:Thetutorial has been completely revamped toreflect themost current andeasiest way toinstall new indicators inMetaTrader both MT4 andMT5.

This tutorial covers indicator installation forMetaTrader 4 and5. Since MT4 Build 600, there is no difference intheway it is done inthetwo

Update 2019-09-12:Anin-depth update has been performed tobring theregulatory information presented inthis guide toreflect thecurrent state ofaffairs (especially, thepost-ESMA regime changes inEurope) andtoadd two important regulators theFSCA (South Africa) andtheIIROC (Canada).

While all transactions inastock orfutures markets are carried out

Update 2019-07-25:Less than aweek after publishing this review, Spotware released anupdated version ofcTrader fordesktop (v.3.6) that improved theplatform even more. Additional features included: new Automate functions tocreate custom interface elements forcTrader charts, cBot autorestart onplatform restart, support formultiple platform

This post is ahuge 2019 update toourprevious review ofForex calendarspublished back in2017.

If you trade based onfundamental analysisoremploy anews trading strategy, then aneconomic calendar is anindispensable tool foryou. If you are atechnical analysis

Even though trader unprofitability numbershave tobe updatedbyForex/CFD brokersonaquarterly basis, not all regulated European brokers updated their values sinceour last review(May 2019). However, thevast majority ofbrokers already refreshed their risk warning, so it is time

Asuccessful currency trader needs aproven trading strategy. Many traders prefer strategies based ontrends. Such strategies work best with currency pairs that trend well. Monitoring apredominantly range-bound currency pair (USD/KRW, forexample) would yield little result, even with asolid trading strategy

Arbitrageis apractice ofearning money bysimultaneously buying andselling thesame asset ondifferent markets without exposing yourself totheasset value risk. Thesimplest example ofFX arbitrage would be tobuy acurrency atonebrokeratanAsk price that is lower than theBid price you can sell it

Currency trading is byandlarge carried out intheOTC (over-the-counter) market. Lack ofacentral regulatory authority has given rise tonumerous Forex brokers with offices inexotic locations. Alarge section oftheretail traders depend onthese Forex brokers totrade currencies from thecomfort oftheir home. While it just

Asperefficient market hypothesis, it is almost impossible tooutperform themarket. Thereason is that markets efficiency ensures that relevant details ofanasset are incorporated intheprevailing trading price. It means that, theoretically, there is no possibility ofbuying andselling anasset low andhigh respectively.

Many think ofbitcoinasaninvestment andrightly so, it has grown from being worth fractions ofapenny tobeing worth hundreds ofdollars inafew short years. Price fluctuations have made it apopular commodity totrade both inthefutures market andinreal time. Bitcoin now easily surpasses $100

Food has adirect effect ontheperformance ofatrader. Ahealthy diet keeps atrader alert andactive throughout theday. This would ultimately enable atrader tohave aclear understanding oftheprice movement inthemarket, tovalidate signals without lack ofconcentration andtotake successful trading decisions without any dilemma. Inthis regard, let

Originally, Iintended this post asado-it-yourself guide onhow toadd alerts toMetaTrader indicatorswithout knowing how tocode atall. But writing it, Icame torealization that even if atrader knows nothing about MQL language andcoding he will have tolearn some basicsthroughthis

Thenormalgap trading strategy that is buy/sellafteraweeklygaptoprofit from gaps compensation has anice statistical evidence behind it. But what do we know about forecasting theweekly gaps based oninformation available tous onlate Friday session?

Market Profile indicatoris apowerful tool developed byaCBOTtrader. Its original purpose was tographically organize price andtime information obtained during atrading session inamanner useful totraders. Todays Forex market is quite different from what commodity futures trading was back in1985

Without looking atany charts, myfirst thought about thestrongest major currency during thelast five years would have been theUS dollar. After all, it was themajor winner intheglobal financial crisis of2008when themarkets had run forsafety while thedollars rivals fared poorly.

If you ever wondered what is thetotal cumulative risk ofyour currently open orders andpositions, then mylatest MetaTrader toolRisk Calculator will help you toanswer that question even if you have many orders with interwoven stop-loss andtake-profit levels.