MyTradingLand Logo
Log In

Forex Forum

Join the community of forex traders.

Filter By Category
should i buy a rising market? Replied 2 months ago - A rising market indicates a bullish trend but it’s not enough reason to execute a trade. There will always be a retracement in every rising market, you need to position yourself for those retracement to be able to be a part of the bullish movement.
0
7
0 Subs
Technical vs fundamental analysis, which should i prioritize? Replied 2 months ago - Personally, I prioritize technicals. I’m not so good at fundamentals. Well, based on experience technicals can make you a profitable trader. There’s no crime in mastering both though.
0
4
0 Subs
should i trade on the one-hour timeframe? Replied 3 months ago - Bro 1 hour time frame is too big to trade with. There ae some little details you will not be seeing on 1 hour. For me I use 15 minute timeframe for entry and 10 minute timeframe for exit.
0
9
0 Subs
I always pay attention to candestick wicks, heres why Replied 4 months ago - I spotted another wick at 1.1658 and if you follow the trace of the blue arrow line, you will notice a bullish engulfing pattern formed at the 1.1658 level resulting in an upward rally
0
5
0 Subs
why does price move back & forth within a range? Replied 4 months ago - The dominant trend is a bullish engulfing signalling a buy. Price has not been able to close below the bullish engulfing pattern hence the support linne i drew.
0
3
0 Subs
what is the best simple moving average setting? Replied 5 months ago - For length, I use 14 days because I am mostly a day trader. Some people who are swing traders use as high as 200 days.
0
1
1 Subs
what is top down analysis in trading? Replied 6 months ago - When I switch to the lower 5-minute time frame, you will notice that the previous month low is acting as resistance to price, causing a downward movement after retest. This is a classic example of how top-down analysis can be applied to trading.
0
3
1 Subs
what tdi indicator settings do you use? Replied 6 months ago - Never heard of this one, how does it work?
0
2
0 Subs
does technical analysis work better on stocks or forex? Replied 7 months ago - I have traded both stocks & forex cfds and in my opinion technical analysis is more effective when trading forex.
0
1
1 Subs
What are the best indicators for deciding when to buy or sell? Replied 7 months ago - I rely on price action to tell me when to enter/exit I don't depend on indictors because they are always giving delayed information. By the time your beloved indicator tells you to buy, price action traders have already bought and exited the trade with profit.
0
2
0 Subs
anyone used xmaster formula forex indicator? Replied 9 months ago - Please how do i build a custom script for trading, I am looking for a script that can blot out other sessions and show me only the London session using a 5-minute timeframe, can you recommend any programmers?
0
3
0 Subs
gravestone doji: what do i do after i see one? Replied 9 months ago - If i see a gravestone doji in an upward trending market, i will prepare to sell but i will wait for a bearish confirmation candle to form after the doji before i enter.
0
1
0 Subs
how reliable is fibonacci retracement indicator? Replied 9 months ago - Its pretty reliable and works for me, been using it for years now. You just need to know how to draw the Fib line correctly and it displays possible levels where price should retrace. We should not expect too much of Fib or any indicator and shouldn't use them in isolation. Indicators should be used alongside commonsense price action.
0
3
0 Subs
what does consolidation in trading mean? Replied 10 months ago - Consolidation is when price is moving within a range or corridor just like water moving through a pipe. When consolidating, the price does not exceed a certain high/low price. In investing, there's some thing called the "Dow Theory" which states that markets move in phases starting with the consolidation phase where sufficient momentum is accumulated to enable the market transform from a sideways movement to an actual upward or downward trend.
0
1
0 Subs
which candlestick pattern is most reliable in forex? Replied 10 months ago - Hammer head candlestick pattern seen atthe end of a trend usually signals a reversal of the trend.
0
7
0 Subs
Best Chart Timeframe for Forex Trading Replied 10 months ago - I use 10 or 15 minute timefrme to get the perfect entry, then use 1 hour timeframe to monitor the progress of the trade (to avoid all the noise that smaller time frames carry) then when i want to exit the trade, i use 5 minute time frame
0
4
0 Subs
can different chart timeframes give conflicting prices? Replied 10 months ago - You are reading it wrong. When you are checking the OHLC data of 5M candle at 6AM, it is OHLC data from 6AM - 6:05AM. But when you are checking the OHLC of 1H candle, it is that 1 hour from 6AM - 7AM. Does this make sense?
0
2
0 Subs
my forex broker sends me daily trade signals, can i trust these signals? Replied 10 months ago - For me, I dont trust any signals sent to me by a forex broker because i dont beleive they truly care so much that they want me to win. I mean if they cared so much, they would have built more risk management features into their trading platforms, or even given us one spread-free trade per day. It seems everything to them is about making a profit.
0
1
0 Subs
What’s the best way to identify highs and lows in forex? Replied 10 months ago - By switching to a higher timeframe. For example on the 1-month time frame (see image), each candle represents one month so you can easily see the highest and lowest price reached for each year.
0
1
0 Subs
any disadvantage of trading on the 1 minute timeframe? Replied 11 months ago - Too many candles on your screen, you also get lots of false signals on the 1-minute chart.
0
2
0 Subs
1 2 3