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Everything posted by fxeconomist

  1. Agree, day trading is the best in my view since prices are less predictable in the long-term as you can't predict random shocks that hit markets like Covid
  2. I apply diversification in trading using tips I got from Hotforex webinars. Learning approaches how to manage risk and increase risk-reward ratio in your favor is an essential part of trading.
  3. I like to trade support and resistance levels, however efficiency of this method is much higher on crypto especially on 15-30M timeframes. That's why I trade BTCUSD and ETHUSD pairs on Hotforex and dropped FX almost completely except for swing trades that are held for 3-4 weeks
  4. Great analysis, btw do you also apply it to currency pairs? I keep short EURUSD position on Hotforex anticipating hawkish US inflation print this week and subsequent dollar appreciation. What do you think?
  5. fxeconomist

    Forex Trading Tricks

    My favorite trick is to use trailing stop loss in trending markets, though it is difficult to identify trends, when you manage to do that you great increase expected return while keeping risk the same as in the case of fixed stop loss and take profit settings.
  6. I also trade stocks using CFD contracts at Hotforex it is cheaper also they added possibility to receive dividends. Basically it means you don't need to sign up with US broker and experience all this hassle and instead trade with FCA regulated alternative.
  7. First and foremost wannabe trader should realize that there is no holy grail and losses are integral part of trading. That's why he should focus on risk management - accepting loss where subsequent price evolution says that trade idea didn't work out.
  8. Looks like EURUSD will break parity soon, keep making pips from my short position at Hotforex
  9. What do you think about S&P 500 near-term direction? I keep short position at Hotforex but market increasingly looks bullish as recession fears find little confirmation in incoming recent data.
  10. Guys anybody tried to trade US Indices with Hotforex? Is it better to enter at the start or the end of the session to reap max profits?
  11. I don't like to trade breakouts because they are accompanied by high volatility which is sometimes hard to manage. That's why I prefer to trade trends and range with Hotforex.
  12. I like crypto volatility and price action around key levels I determine. Much more trading opportunities than in FX. That's why I started to spend more time to crypto CFD trading with Hotforex - price replicates movements of btc price on exchanges while funds are secured.
  13. As far as I know commercial banks in the US can't participate into stock market trading so I guess they create separate facilities for that with separate balance sheet. I heard that my broker Hotforex has institutional clients, it could be banks also, so there may be a kind of special relationship between banks and fx brokers.
  14. I rather prefer to make money from price fluctuations than from buy and hold strategy which becomes more and more controversial for crypto. Crypto offers good volatility and behaviour near key levels determined by technical analysis that's why trade major crypto pairs with Hotforex.
  15. I use MT4 trading platform from Hotforex, I think it is sufficient and pretty functional for occasional trading and speculations.
  16. What do you think about trading crypto pairs with FX brokers like Hotforex? Any advantages in this?
  17. Hi, I chose Hotforex. They are working with a few partners. They have also personal trading support, so its also good for beginners.
  18. The key reason why traders lose is because they ignore money and risk management practices. If you make mistakes you have to make sure you pay as less as possible for them
  19. Correlation arises from the fact that two key drivers of market gains or falls are risk-off/risk-on sentiment. It is applicable to every asset class and every instrument inside a particular asset class. When growth prospects improves or monetary/fiscal stimulus is used risk assets start to offer better yield outlook (some equities offer higher, some lower return outlook but direction is the same) and vice versa when growth outlook deteriorates investors flee to quality or bonds.
  20. The best trading course I tried is Hotforex webinars with Janne Mutta learned a lot from it especially regarding technical analysis and how to use its tools properly.
  21. Can you please suggest any safe broker to start with?
  22. It can be risky or it can be safe depending on the money management rules you set. Tight stop loss like 10-20 pips will make your trading quite safe.
  23. Thank you for the advice. Being a new trader which just have started its journey with Hotforex, its really helpful and will look forward to study the market even more.
  24. Apart from ETFs I also like to invest in stock using CFD contracts at Hotforex. This contract doesn't pay dividend but well you don't need US broker access to which could be quite complicated due to regulation, also transaction costs seems to be lower.
  25. I love to use candlesticks when analysing prices at my Hotforex platform, I found that candlesticks patterns statistically meaningful on some pairs and during certain times, the only problem is precise definition of candlestick pattern which I try to develop currently to put it into my automated trading algorithm.
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