earning100k

An experiment to earn 100k using my blog and investments using blog earnings.

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How To Backtest An Expert Advisor In Metatrader

How To Backtest An Expert Advisor In Metatrader

How To Backtest An Expert Advisor In Metatrader: Metatrader is one of the forex platforms. Metatrader is one of the forex platforms. You can download and install it from many forex brokers like FXDD, Alpari etc. Most of them provide a demo account. This article is mainly about how to backtest an expert advisor on a metatrader forex platform. Once you install metatrader, open it. It will be like…

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Why forex is more preferable than stocks?

Why forex is more preferable than stocks?

Why Forex Trading?

Forex trading has been there for over 30 years. Originally it was only for major banks and financial institutions. But later it became available to common people also through fincical institutions or brokers. These days all you need is a computer with an internet connection and a forex trading account. The broker from where you got the trading account, will supply you all the…

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Money Management In Forex Trading

Money Management In Forex Trading

One important thing why most of the very good traders fail in forex trading is money management. If you don’t care about money management in forex even if you are a very good trader you will eventually lose. The general rule is don’t risk more than 3%(or 4%) of your margin available.

For example lets say you have $5000 mini account. If you don’t care about the money management and if you trade…

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Average Directional Movement Index

Average Directional Movement Index

Average Directional Movement Index:

Average Directional Movement Index is an indicator that is used to measure the strength of a trend. It’s measured on a scale from 0 to 100. The indicator consists of three lines. The actual ADX which  is represented as a blue line, the positive directional indicator which is represented as the green line and the negative directional indicator which is…

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Forex Alligator Indicator

Alligator indicator is a free indicator that comes free with metatrader platform. You can check it under indicators and you will find it. It was developed by Bill Williams. This is a very good indicator for determining the trend.

How the alligator indicator is made of?

The alligator indicator is made by three smoothed moving averages

1)      13 SMA shift 8 Blue color – called Alligator’s Jaw

2)  …

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Long Legged Doji Candlestick Pattern

Long Legged Doji Candlestick Pattern

Long Legged Doji:

Long Legged Doji

Type :  Reversal Direction : Bullish Prior Trend : Bearish Reliability : Medium

Long Legged Doji is a reversal pattern that occurs in a downtrend. It consists of a single candlestick where the price opens at the top and closes at the same point with a long upper shadow and a long lower shadow.

How to Recognize Long Legged Doji:

1) The market is charecterized by…

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ADVANCED TREND FOREX TRADING STRATEGY

ADVANCED TREND FOREX TRADING STRATEGY

The thrust of this trading system is to follow the trend as defined by the higher time frames (typically 4 hour and above). It is a very simple method that uses the following elements:

Support & Resistance Levels

Trendlines

Fib Retracements

Candlestick Patterns & Breakouts

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STEPS 1) First, define the trend. This can be done using a 4hour chart or a Daily Chart to see where the market is…

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Bullish Dragonfly Doji Candlestick Pattern

Bullish Dragonfly Doji Candlestick Pattern

Bullish Dragonfly Doji:

Dragonfly Doji Candlestick Pattern

Type :  Reversal Direction : Bullish Prior Trend : Bearish Reliability : Medium

Bullish Dragonfly Doji is a reversal pattern that occurs in a downtrend. It consists of a single candlestick where the price opens at the top and closes at the same point with a long lower shadow. There won’t be any upper shadow.

How to Recognize Bullish…

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Bullish Breakaway Candlestick Pattern

Bullish Breakaway Candlestick Pattern

Bullish Breakaway Candlestick Pattern:

Bullish Breakaway Candlestick Pattern

Type :  Reversal Direction : Bullish Prior Trend : Bearish Reliability : Medium

Bullish Break Candlestick Pattern is a medium reliable reversal pattern. It consists of five candlestick body where the first one is strong bearish candlestick but the second, third and fourth are weak bearish candlesticks. The fifth…

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Bullish Three Outside Up Candlestick Pattern

Bullish Three Outside Up Candlestick Pattern

Bullish Three Outside Up Pattern:

Bullish Three Outside Up

Type :  Reversal Direction : Bullish Prior Trend : Bearish Reliability : High

Bullish three outside up candlestick pattern is a bullish reverse pattern. It consists of a bullish engulfing candlestick pattern followed by another bullish candlestick.

How to recognize three outside up patterns:

1) The market is in a downtrend. 2) A bullish…

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Three Inside Up Candlestick Pattern

Three Inside Up Candlestick Pattern

Bullish Three Inside Up:

Three Inside Up Candlestick Pattern

Type :  Reversal Direction : Bullish Prior Trend : Bearish Reliability : High

Bullish three inside up pattern is a bullish reversal pattern. It consists of a long bearish candlestick followed by two bullish candlesticks with the first one coming until the middle of the bearish candlestick and the second one closing above the bearish…

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Three White Soldiers Candlesticks Pattern

Three White Soldiers Candlesticks Pattern

Three White Soldiers:

Three White Soldiers Candlestick Formation

Type :  Reversal Direction : Bullish Prior Trend : Bearish Reliability : High

Three white soldiers is a very highly reliable bullish reversal candlestick pattern. It consists of three long bullish candlesticks formed in a downtrend after a bearish candlestick.

How to recognize three white soldiers pattern:

1) The market is in a…

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Bullish Engulfing Candlestick Patterns in Forex Trading

Bullish Engulfing Candlestick Patterns in Forex Trading

Bullish Engulfing Candlesticks:

Bullish Engulfing Candlestick Patterns

Type :  Reversal Direction : Bullish Prior Trend : Bearish Reliability : High

Generally forex traders say that bullish engulfing is a medium bullish reversal pattern but I consider this as a very strong bullish pattern when combined with other indicators like support lines or support trend lines. So I am putting it under…

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Morning Doji Star Candlestick Formation and Trading

Morning Doji Star Candlestick Formation and Trading

Morning Doji Star Candlestick Formation

Type :  Reversal Direction : Bullish Prior Trend : Bearish Reliability : High

Morning Doji Star pattern consists of three candlesticks. This is a bullish reversal pattern which occurs in a down trend. This is an highly reliable candlestick pattern if it is combined with other indicators like Bollinger Bands, CCI, Stochastics etc. This pattern consists of of…

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Piercing Line Candlesticks

Piercing Candlestick Formations

Type : Reversal Direction : Bullish Prior Trend : Bearish Reliability : High

Piercing Line Candlestick is a bullish reversal pattern which occurs in a down trend. This is an highly reliable candlestick pattern. After long bearish candlestick closes the price opens below the closing price of the bearish candlestick and a long bullish candlestick forms. The bullish…

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Forex Ascending Triangles

Forex Ascending Triangles:

An ascending triangle is a bullish pattern used in technical analysis and can be easily recognized. This is usually a pause during a longer trend. To say pattern as an ascending triangle it must have flat highs & higher lows. That means it should have a horizontal resistance line at the top and an ascending trend line at the bottom. Ascending triangles are bullish…

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Japanese Forex Candlesticks

Candlesticks were introduced by Japanese rice traders and they used them long time back for the purpose of analyzing the rice markets. Now a lot of traders are using these candlestick techniques for analyzing forex markets and stock markets.

If you are using metatrader for forex trading the following is how a candlestick chart appears. You can set the properties of the metatrader to change the…

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