Competition Of Forex Trading Systems
There is no more question as to whether brokers use Forex trading. The correct question is: where do they earn money and how do they convert information loads into real money after the competition?
Of course, nothing is as simple as it seems at first glance. And nobody knows better than we’ve probably tried dozens of Forex trading systems. However, after the rally, it is quite obvious that company representatives will start calling and competing with sellers and contacting them via email. You have to do it quickly, because if the service was of good quality at the time of trading, traders may choose to replace brokers and transfer money to a new company with which they made a good impression. Most traders choose a broker based on emotional considerations.
The sales team is unlikely to be successful for every investor who has participated in the forex trading system competition, and sales cannot change every participant into a business customer. Let’s face it: 100% certainty that the best offers will be rejected for various reasons, but of course the brokers do not reject them immediately. They care about customers, that’s why the marketing campaign starts with newsletters, special offers, discounts, training materials and more. You don’t need a stone to get new customers.
Okay, is customer acquisition the most important incentive for listed companies to organize currency trading competitions? Oh, my answer is still NO. This is a great opportunity for the broker to increase the number of clients. But then the question arises: what would a global listed company take to organize a Forex trading system race? Now I will reveal the facts.
Broker, competition, and evaluation. All these factors are very important factors for the formula of success, not only for customers but also for the intermediaries themselves. But why should a broker care about the ranking if the only reason is getting a client? The truth is that brokers use competition as a great filter for a good Forex trading system. They see every transaction, they see every trade balance and they know the logic of every trader. You see and control everything during the competition.
After creating the final leaderboard and ending the competition, brokers will conduct an in-depth and in-depth discussion with those who scored the most points in the game. They still see operations, but often do not understand the basic trading method and offer work and money to a winning consumer strategy to reveal their secret. Sometimes strategies can be easily decoded, but there is a good chance that brokers will come across a powerful but very sophisticated Forex trading system that they don’t understand, so running live chat with users seems like a good idea. These negotiations can be mutually beneficial or eliminate problems.
That’s why I think that the involvement of the most powerful Forex trading systems for brokers plays an equally important role in this race. From the broker’s point of view, competitions are a great deal of freedom that many traders want to enter, and some have a secret that brokers would like to use in the future. If the broker finds a good trading system on the Forex market in a chaotic, troubled and troubled jungle of traders, then it is worth organizing the competition yourself.
Forex Trader’s Basic Knowledge – What You Need To Know To Make Money From Your Trades
Regardless of your goals for entering the Forex market, you want to start with strong Forex trading strategies to control your progress. You probably already know that the currency market is a huge trillion dollars. This means that activity on the Forex market is greater than on “regular” exchanges.
You need to have the highest level of performance thanks to Forex trading tools to make your dreams of huge Forex trading success.
You will certainly follow the example of the best Forex traders, and you also want to remember the basics and technical analysis. The Forex market is not the right place. Always remember that you can lose money if the exchange rates change to the south and the profit or loss begins before placing your first order.
Let’s take a look at the most popular trading strategies on the Forex market.
- Currency traders who prefer technical methods give them strength in the short term. It is important to consider historical trading patterns and exchange rate changes. You won’t want to miss the full volume of market traffic.
- Make no mistake, the biggest newcomer on the stock market is heavily dependent on classic cars, which encourage the almost exclusive use of basic analytical data. You want to listen to the advice; However, your decisions must be in line with your research.
- Another camp of “advisors” will spread the idea that technical analysis is the fastest way to investor wealth in the Forex market. While technical analysis and basic analysis certainly have the advantages of using strategies, you should make decisions that are reinforced by an in-depth study of all factors that affect your trading results.
- The shortlist of management members should include variables such as unemployment, global and national deficits, inflation and interest rate trends. Then there is the yen and the euro against the US dollar and historical patterns that shine through.
- The wise Forex trading gurus will also advise you to remember about valuable metals such as gold and silver, or commodities such as oil and even pork bells. The mix expands exponentially, as does the color of the rich fabric that merchants weave in search of the Holy Grail, with potential and real consequences.
- The best advice seems to be one of your favorite needs on the Forex market and Forex trading strategy. Hoogstwaarschijnlijk Forex-Markt is an exceptionally high Multi-Triljoen dollar. This is when the Forex market is offered and “normal” currencies are offered.
- You can usually choose between Forex investors and instruments that have chosen a specific price range.
You will make the best Forex handles and carry out technical analysis. The Forex market is not a trial. You can also enter into Forex transactions that were made at the time the contract was concluded.
Forex Trading Using Average Daily Range
In ordinary currency markets prices will rise and fall and usually (if not always) rise higher than the previous day or lower than the previous day. And if you think about it, does it make sense to have a common idea, at what price can you expect?
Knowing the average daily range of a pair can be very helpful. By the way, the average daily range (ADR) on currency markets is also called ATR (average true range).
In currency markets, both mean the same thing and can be used interchangeably, but in other markets, such as commodities and shares, there is a difference, but we don’t have to worry. ADR or ATR is the same for our purposes.
Of course, when calculating the average daily range for a currency pair, you can use on average as many days as you want. What I find useful in day trading is the average of over 5 days.
Observing the average daily range over the last 5 days, we understand the current price movements and volatility well, i.e. how much can we expect a price increase from the lowest point to the highest point during the day. (or vice versa).
For example, if today is the beginning of Wednesday and we are looking at a specific currency pair, we will be looking at ADR for 5 days from the end of Tuesday. Make sure you understand that. We do not use today’s candle because the day is not over and we do not know what the range will be. When we start Wednesday, we know the average daily range from the end of Tuesday.
Suppose the ADR is 152 bones for 5 days from the end of Tuesday. So we can assume that the highest current day (Wednesday) is about 152 points above the lowest, or that the current minimum of the day is about 152 points below the lowest.
So, if we follow our example and know how high AGS will be on Wednesday, we will only look at the price and price level at which the price has passed, which corresponds to the current daily average of 5 days or more.
As the price increases, keep an eye on the lowest dates of the day and add 152 ADR points to get an estimate of the day
If it falls, just focus on the highest value of the day and subtract 152-ADR (in our example) to keep your expectations low.
This is extremely useful information, so there are: For example, if the price has risen above the expected highest level (the average daily range is 5 days), and the price has reached the level of support or resistance, there may be great shopping opportunities. !! I mean great! There are also many improvements you can make to get very high chances.
I hope you understand how powerful 5-day averages can be if you learn to use them correctly.