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radex78
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radex78 last won the day on May 5 2023
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The biggest mistakes in trading in my opinion are greedy, overtrading without a proper plan, and fear of missing out.
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Each trader may have different choices regarding the broker used, but the trader's goal is of course the same: to gain profits in trading, in this regard low broker spreads, trading conditions without restrictions, trading platform support, and trading server quality can influence trading results, in this case I chose FXOpen UK.
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Shocked today Ethereum gains 4.12% Ethereum price broke $3000 and reached $3108.82, compared to Bitcoin's today's gain of only 0.31% at the time of writing. ETHUSD price range for the last 24 hours was Low $2,984.01 and High $3,117.43. It appears that ETHUSD is forming a long-body bullish candlestick with a higher high on Ticktrader FXOpen UK. Crypto Patel reported on a post in Coinmarketcap that over the past 45 hours, someone purchased 57,500 #Ethereum ($174 million) across Binance and DEXs. ETHUSD Technical analysis The summary of the technical analysis by Investing for Ethereum today is strong buy with technical details of indicators RSI(14) Overbought, STOCH(9.6) Buy, STOCHRSI(14) Overbought, MACD(12.26) Buy, ADX(14) Buy, Williams %R Overbought, CCI(14) Buy, ATR(14) high volatility, Highs/Lows(14) Buy, Ultimate Oscillator Overbought, ROC Buy, Bull/Bear Power(13) Buy. Looking at the price chart on Ticktrader FXOpen UK ETHUSD forms a bullish candlestick with a long body below the upper band line. After the price broke $3000 it continued to rise reaching a high of 3116.963 On the daily timeframe, the Bollinger band appears to be forming an upward channel with a wide band distance indicating bullish sentiment with high volatility. The 50 MA below the middle band line also forms an upward channel far below the price, an indication of strong bullish momentum. On the other hand, the RSI indicator which measures overbought and oversolc shows a value of 78, which means the price is in the overbought zone. RSI is a leading indicator that provides signals before a trend is formed. In the H1 timeframe, the price appears to be moving up near the upper band line. Here the Bollinger bands form an upward channel with expanding bands indicating increased volatility. MA 50 is near the lower band forming an upward channel indicating an uptrend market with strong bullish momentum. Meanwhile, the RSI shows level 73, which means the price is in the overbought zone. #ethereum #ethusd #ethereumpricetoday #ticktrader #fxopenuk
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Using a demo account is a free way of trading forex without risk and does not burden you mentally, this may be useful for practicing your analytical skills in real market conditions, before you start with a real account, preparing for trading on a demo account can help determine the fate of your trading strategy. However, sometimes good results on a demo account do not reflect the reality on a real account. This may be due to several factors, including when demo trading uses large capital such as $50,000, whereas, in a real account, it is only $100, for example, clearly the difference in capital provides different opportunities when trading. In addition to emotional factors, trading on a real account involves emotions and this can interfere with your trading decisions, possibly beyond the rules of the trading plan. However, it is possible to start trading on a real account, traders will also pay attention to the amount of capital, at FXOpen UK you can start trading with $300.
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Forex trading is a profitable business, someone might be able to get rich from forex trading if they understand the method and knowledge. Various trading methods allow traders to profit from market volatility. The most common and widely used strategy is learning how to trade on support and resistance. The support and resistance areas themselves are considered to be areas that prevent prices from moving further, in these areas rejection often occurs so that they are potential areas for gaining profits. However, the different ways to determine support and resistance can make a difference in perspective when looking at support and resistance. Several methods used to determine support and resistance refer to the FXOpen blog such as Trendline, closest swing points, round numbers, Fibonacci retracement, Pivot points, and dynamic lines such as using MA or Bollinger bands. Apart from this strategy, it turns out there is also a unique strategy called Triple Gap or San-Ku. This term may or may not be Japanese. I just discovered this term in an FXOpen blog article. San-ku is a triple gap or three gaps that have the potential to provide a reversal trading signal. This pattern is characterized by three candlesticks with gaps between one candlestick and the next candlestick in a row. However, if for example, encounter a San-Ku or Triple Gap pattern, this may provide a strong reversal signal considering that the trend will have a peak
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paulsi1ver started following radex78
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Capital to start forex trading is increasingly flexible, but different entities may have different minimum deposits, it is best to first understand the minimum deposit at the broker used. Decent capital certainly has advantages over small capital.
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Factors that are considered while choosing a broker
radex78 replied to Gee Dee's topic in Forex Newbies
Choosing a regulated broker provides comfort in long-term forex trading, choosing a broker with a good reputation and reviews is safer because the company gives a good services -
That's right, this is widely used by traders to learn trading without risk, brokers provide free demo account facilities that can be used as well as possible
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Position sizing is a fundamental factor in trading to manage risk. This concept is used to determine how much capital is allocated in trading. Proper position sizing can minimize the impact of risk in trading so that in one trading transaction you do not experience a margin call too quickly due to using a position size that is too large. Determining position sizing is closely related to the leverage used. As is known, leverage is like a double-edged sword. On the one hand, you can increase profits, on the other hand, the risk is higher. Ideally, high leverage allows traders to create higher position sizes than low leverage, but the impact can narrow the margin level that measures account strength. Things that need to be considered when making position sizing are risk tolerance and market volatility. To determine risk tolerance, each trader may have a different method. Some determine based on the risk percentage, and some determine based on the value in dollars. In determining the stop loss, the trader has previously calculated the risk tolerance in a trading plan and will adjust the position size to adjust the stop loss to the risk tolerance. For a more comprehensive explanation of position sizing, you can visit the FXOpen blog and find the article with the title Optimal Position Size May Reduce Risks
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Today active signal EURCHF This signal is only a personal opinion and does not constitute investment advice or invitation, do so at your own risk
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When carrying out trading activities on the forex market, everyday traders will of course pay attention to market trends. This is because it is very important in its efforts to profit from market volatility. The market trend itself can be categorized into three general types, the first is an uptrend also called Bullish, the second is a downtrend or what is called Bearish, and the third is flat or what is called Sideways. An uptrend shows that prices tend to increase and often create higher highs and lows. On the other hand, a downtrend is characterized by prices that tend to form lower lows and higher lows. And finally, the flat is marked by candlesticks in a row as if there is almost no movement. During an uptrend, prices of course do not continue to rise without a downward wave, there are times when a downward wave occurs which is called a retracement or also often called a pullback, where the price moves down from the prevailing trend but rises again to continue the prevailing upward trend. In general, retracement is a temporary trend reversal that allows traders to get the best price according to the prevailing trend. During an uptrend or downtrend, traders usually prefer to wait for the price retracement to open a new order because it is considered lower risk. While Reversal is a fundamental reversal of the prevailing trend, in contrast to retracement, which is a temporary reversal, reversal indicates a significant trend reversal and changes the existing trend structure, and indicates a change in market sentiment. We can learn more about the differences between retracements and reversals on the FXOpen blog where they are explained clearly with examples to make understanding easier. Recognizing this retracement or reversal is very important for traders to support them in achieving profits in high-risk forex trading. So we can trade with the right decision and minimize mistake bias.
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Trading skills are very important in achieving profits in forex trading, and this can be achieved by learning to trade continuously by learning from mistakes and never giving up. We can take advantage of broker facilities such as FXOpen to hone our trading skills by conducting trading trials either on a real account or a demo account. Of course, learning to trade on a real account will give us more real results and we can see skill performance
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Yesterday oil prices were observed to rise to 74.13 for WTI oil, while UK Brent oil rose to 78.93. Quoting a report from the FXOpen blog, OPEN increased its forecast for oil demand in 2024 OPEC expects global oil demand to increase by 2.25 million bpd in 2024, representing a 2.2% increase compared to 2023. In 2025, OPEC predicts a demand increase of 1.85 million barrels per day, reaching 106.21 million barrels per day. It is anticipated that the growth in oil consumption in 2025 will be driven by China, the Middle East, and India. The chart image above shows the oil price graph on the Ticktrader terminal FXOpen for US Crude oil. It appears that the price since January 17 has formed a bullish candle showing an increase in price after reaching a low point of 70.58. The price even managed to cross the middle band line and tried to continue rising. The next target is near the upper band line at resistance zone 75. In general, since December prices have still moved within the daily range of 75 and 69 even though the escalation of the war in the Red Sea has given new international geopolitical tensions. On the other hand, the RSI indicator shows the price at level 49 which could mean the price is below the downtrend level. For oil trading, you can use the FXOpen Ticktrader platform to access multiple markets on CFD trading, forex, indices, stocks, cryptos, ETFs. However, margin trading using leverage has high risks that need to be considered as an investment. As the golden rule of investing money in high risk business, only spent money can afford to lose.
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Trading platforms play an important role in CFD trading, allowing traders to carry out asset buying or selling transactions easily in milliseconds. In the financial markets, various trading platforms are designed by developers to meet user needs. The following are several trading platforms that have their respective advantages and disadvantages, quoted from the FXOpen blog MetaTrader 4 (MT4): This is the most popular trading platform in the world, loved for its ease of use.MetaTrader 5 (MT5): An improved version of MT4, with advanced features while maintaining the accessible MT4 interface.TickTrader: A highly customizable platform offering 1,200+ trading tools, advanced order types, and Level 2 pricing.TradingView: A comprehensive platform offering advanced technical analysis tools, screeners, and fundamental data from global exchanges. Even though the main facility of all trading platforms is for traders to carry out transactions in the financial markets, the features and user experience differ, so traders tend to choose a trading platform according to their needs.
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Volume is a fundamental aspect in forming market trends. Volume in stock trading can mean the total stock transactions at a specific time in one time frame. Volume can be an important indicator for studying investor behavior and trends in market sentiment, trends, reversals etc. High stock transaction volume means that investors are interested in carrying out stock transactions and causes a high volatility trend which allows confirmation of a strong trend, either uptrend or downtrend. On the other hand, low stock transaction volume means investors are less interested in carrying out stock transactions. This causes low market volatility and even though the price trend is up or down, it often does not match expectations. Volume can be related to market sentiment and price movements. Market sentiment is the collective behavior of market players towards the stock, allowing it to increase volume and confirm a trend. Volume can affect prices due to the increasing number of transactions, but the impact is less clear, because at low volume the price may rise, but this can only be a sign of caution because traders are less confident in the stock. There are several volume indicators available on the trading platform for trading aids refer to the FXOpen blog article On Balance Volume (OBV), Accumulation/Distribution Line, Volume Price Trend (VPT), dan Chaikin Money Flow (CMF). Other volume indicators have also been created, such as Volume bars, Mass index oscillators, and Volume zone Oscillators. Each volume indicator uses a different formula, you can learn more about volume in shares on the official FXOpen blog to get insights on how to use volume in trading the CFD market.