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The Ascending Triangle Pattern

An ascending triangle is a chart pattern created by drawing lines along the swing highs and the swing lows thereby creating a triangle. Breakout can occur to the upside or downside as price always breakout In agreement with the existing trend before the formation of the triangle.An ascending triangle is a very significant chart pattern that pulls massive profits in the market. Characteristics of an Ascending Triangle 1. lt runs along at least two swing highs and two swing lows. 2. lt is a continuation pattern. 3. Price break out of the triangle in the direction of the prevailing trend. 4. A breakout in any direction is noteworthy. 5. A bullish trade is taken if the price breaks above the top of the pattern. 6. A bearish trade is taken if the price breaks below the base of the pattern. 7. A stop loss is placed just outside the pattern on the opposite side from the breakout. As a trader using the ascending chart pattern is highly rewarding but caution must be taken about the po...
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SIGNIFICANT LEVELS OF RISK MANAGEMENT

   There are two major significant levels of risk management which must be practiced and managed with each trade a trader implements. ·         Capital Protection ·         Profit Protection Capital Protection Capital protection is ensuring of the security of trading capital via strategies tested, proven and guaranteed to produce the expected outcome. The idea of capital protection is a sound ethical trading practice that underlies the concept of money management. Capital protection seeks to imbibe in trader the defensive art in forex trading enterprise. Generating returns is important but not the bases of capital protection, though we seek to make as much as possible profits for each trade. The trading phrase-”cutting your losses and let…ride” is the bedrock or forex trading profit maximization tactic. Cutting loss before trading and not as soon as the trade goes against a trader is the focal p...
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Turn Your Forex Trading Meta Trader Client Terminal Into A High Performing Money Spinning Machine

  Forex trading venture requires the right mental attitude, consistency and fantastic approach to trading. In my experience over a decade now, l have come to a conclusion that technical trading x-rays the masterly art of the trade . It is never a bad idea to trade the economic report. Beautiful! If you are a fundamental trader. Fundamentals are everything that makes a country tick. The release of economic news can set the market in a frenzy. When making a trading decision fundamentals makes a lot of impact. Charts are needed but the reality is fundamental analysis is a very effective way to forecast economic conditions but not necessarily exact market price . Technical analysis is all about how to predict the future price action by studying the past. There are certain philosophical assumptions on which technical analysis is based. (i)                 “Numbers don’t lie”- All available information and i...
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The Single Most Important Thing You Need To Know About FOREX TRADING

  Risk according to Merriam-Webster dictionary is possibility of loss or injury; the chance that an investment (such as a stock or commodity) will lose value . A trader’s appetite for risk is a crucial factor in forex trading career . The market is not for all time winners. There are moments you just have to let go.   In my candid opinion, taking losses as part of the game is the bedrock of good trading technique. Trading is not about your winning percentage, it is all about how much money you can consistently pull in profits. Take a look at the following Statistics: Traders No of Times Traded Trading Period Winnings Return On Investment (ROI) A 80 10 Months 58 $4000 B 40 10 Months 5 $15000   Trader A – Traded 80 times over 10 months. He won 58 trades. Made $4,000 in profits. Trader B – Traded 40 times ove...
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REMEDIES FOR PSYCHOLOGICAL BIASES WHEN TRADING FOREIGN EXCHANGE MARKET

  The mix feelings that runs through the spine of a trader when trading a live account makes up the psychology of trading. There are two emotions in particular that have been the source of ruin for traders over the years, they are greed and fear. Fear will cause you to either not make a trade when the opportunity arises or close a trade prematurely without giving it a chance to be profitable. Greed will cause you to make trades that are too large or too risky, while trying to make massive gains. Remedies for psychological biases when trading foreign exchange market are as follows: ·         Be dynamic. ·         Know when to exit your trade. ·         A reversal is inevitable in every trend. ·         Do not hold past the point you should have exit i.e. trade with stop loss. ·         Critically app...
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GAINS OF FOREX TRADING OVER OTHER INCOME VEHICLES

  The word FOREX is a combination of two words viz-a-viz i.                     Foreign ii.                   Exchange It is a global market for exchange of currency speculatively. In other words forex trading is synonymous to bureau de change business. Trading forex is the most profitable venture an investor can undertake. The action involved in forex trading is the exchange of one currency for another, i.e. buying and selling with the aim to make profit. A trader sells weaker currency to buy a prospective stronger currency and vice versa. Forex trading is the most ideal business that is capable of making you a millionaire within the shortest time possible. There is possibility of making a big time income! Merits of Forex Trading Control: A trader is in total control of what goes right or...
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In 10 Minutes, I'll Give You The Truth About WHY THE NEED FOR RISK MANAGEMENT IN FOREX TRADING

  Risk Management is very strategic to regulate trading parameters to fit into a trading plan . Risk management eradicates gambling, helps in planning trade execution and also systematizes your trade. I t is a good idea not to risk more than what you can afford to lose per trade. The conventional wisdom behind this is that you cut your losses short and let your winnings ride! So as to be in trading business for as long as possible. Forex trading risk management is simply a method of controlling risk exposure when trading. By implementing a risk management strategy, a trader is able to limit the negative effects of a losing trade when the market moves in the opposite direction .   Risk management approaches can be broken into: 1.      Risk Planning= Have you heard of Risk to Reward Ratio?   Risk Per Trade is an offshoot of a trader’s risk tolerance. Experts in this field advanced that a trader should not risk more than 2% per trade. ...
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