Naked forex trading is a good option for experienced traders.

What is the Difference Between Naked Forex Trading and Copy Trading?

Firstly, what does Naked Forex Trading actually mean?

There is no indicator used in naked Forex trading. The Forex market uses indicators to measure volume and price movements and how they affect accounts and trades. As a result of these indicators, traders are able to decide whether or not to engage in a trend and when to leave it.

Price action trading is also known as naked Forex. Some traders suggest using no more than two indicators while employing this method, while others recommend not using any at all. You may be wondering why naked forex traders don’t use indicators?

Rather than being a sure note to buy or sell, an indicator is more of a signal. In determining whether to make a particular move, traders consider these factors. Therefore, naked traders ignore all indicators because they do not provide any indication.

Naked Forex Trading: How Does It Work?

Inexperienced investors should not trade naked Forex. In this trading approach, no indicators are used, so a detailed understanding of the market is necessary.

A Naked Forex trader examines candlestick patterns and charts on a daily basis rather than just using indicators. The historical, present, and future values of a currency are also considered in many additional Forex trading strategies. As far as naked forex is concerned, it only considers current values.

Naked Forex trading employs additional technical analysis during each fluctuation. As a result, only the information that is directly visible to and in front of the user is considered. For better prediction of major events and to understand how major events affect them, naked Forex traders consult forex economic calendars.

Beginners or typical traders don’t have the same understanding of the Forex market as naked traders. A fundamental understanding of how markets work and how they function in cycles is crucial. Based on history, you might also be able to decide what to do based on these cycles.  Charts of all sizes can show these cycles. Competent Naked Forex traders know how to move with these cycles rather than against them when understanding these cycles.

How Does Naked Trading Forex Benefit You?

There are several advantages to naked Forex trading. Many seasoned traders suggest that this should be the first form of trading that traders use in order to better understand the world of Forex.

Developing this habit of looking at price movements first and indicators second could be a good step towards mastering the basics. The use of indicators as secondary resources ensures that they remain in place as confirmations of movements rather than as clear indications of the type of movement to make.

One of the advantages of this trading method is the simplicity of each trade you make. You are not influenced by extraneous information because you do not consider indicators or other information because you are relying on circumstances alone.

Naked forex has its downsides, what are they?

Naked Forex trading has the significant disadvantage of requiring a high level of industry knowledge. The process of figuring out how a market will move and where it is in its cycle takes time with Naked Forex because everything is done in real-time.

In terms of naked trading psychology, there are a few other factors to consider. The most important thing is that any of the following actions run counter to “mob mentality.” You do not have to join in just because you notice a movement.

Forex traders will use candlesticks to make decisions when they see large candlestick movements. In light of this, traders will want to ensure that they are members of the “smart money” club. They notice increasing trends first and don’t enter the market after there has already been a significant rise in the candlestick. It is common for fast growth to be followed by selling. If you are interested in selling and making the most money, you will want to get into growing movements as soon as possible.

In this article, we’ve covered everything you need to know about naked Forex. Here is the ONE tool that will catapult you to new heights in copy trading in a short time. With Telegram.forex, you can automatically copy all types of forex signals from Telegram channels to MT4/5 in seconds.

In addition to fast execution, support for all types of Forex signals, risk management, and other features, Telegram.forex has established itself as one of the most popular trade copiers on the market.

telegram group

Telegram Groups and Telegram Channels: What are They and Which Should You Use?

Facebook-owned WhatsApp is facing healthy competition from Telegram, one of the most popular instant messaging apps. In terms of communication features, it provides almost all of those found in WhatsApp.

You can join Telegram Channels and Telegram Groups as well as direct chats with your contacts. The format of these groups is similar to that of WhatsApp groups and broadcast lists.

Explore the differences between these, how they can positively impact your forex trading strategy, and determine which one is right for you.

Telegram Channels: What Are They?

You can broadcast a message to thousands of subscribers using a Telegram Channel. Despite the fact that the number of people joining a Channel is not limited, they cannot interact with one another. One-way messages can only be posted by Telegram Channel admins.

Telegram Groups: What Are They?

In contrast, Telegram Groups function just like any other messaging app. Members of the Group can exchange multimedia files and communicate with one another, but the admin has the right to limit their interactions.

Groups and channels on Telegram

It is possible to create both public and private Telegram Channels and Groups. Private Groups and Channels can only be joined via an invite link, as they are not searchable by username. Group joining links are only available to owners and administrators.

7 differences between Telegram channels and groups

Let’s now compare Telegram Channels and Groups for a better understanding…

1. Admin Rights

Telegram Channel admins can post messages, add and remove members, and terminate the channel at any time. The lack of interaction between members means that you only need to maintain your Channel on a regular basis.

The more members interact with the Telegram Group, the more work admins have to do. Maintain a healthy environment within your Group by managing spam properly, removing members who break the rules, responding to members’ direct messages, and responding to their requests.

Your visibility can be changed between anonymous and username in Telegram Groups and Channels.

2. An archive of old chats is available

The entire Channel chat has been available since the Channel was created. Those who join the group can check past discussions and documents if they wish.

Old chats can also be accessed by new Telegram Group members. Admins can, however, restrict access to older messages to prevent new users from accessing them.

3. Members’ Profiles

Because you cannot see other members’ profiles on Telegram Channels, their information is more private. In fact, you can’t tell whether someone on your contact list belongs to the same Channel.

In contrast, Telegram Groups are more public. Accessing someone’s profile is easy regardless of whether they are in your contact list or not. In addition to interacting with them in the Group, you can also send them private messages. It depends, however, on the privacy settings of the account you want to connect with.

4. Member count

Participants in Telegram Channels are called subscribers, and they can be unlimited in number.

Telegram Groups can have up to 200 members at first, but if you upgrade them to supergroups, they can have 200,000.

5. Silent messages and notifications for group joining

Those who join a Telegram Group get notified; those who join a Telegram Channel remain unnoticed.

Members of Telegram’s Channels can send silent messages to their subscribers, which is not possible in Groups. The silent message is one that has no notification sound, as its name suggests. This feature is useful for sending urgent messages to people in different time zones without disrupting them.

In the Telegram Channel, you can send a silent message by pressing the notification bell next to the message box.

6. Identifying the engagement

The eye button in the lower right corner of every message in a Telegram Channel shows how many subscribers have viewed the message. You can determine the activeness of a community by looking at the average number of messages viewed and the number of subscribers.

You should keep this number handy if you have a branded community and receive promotional offers regularly.

You can use this number to gain a better understanding of the performance of your Telegram Channel as an administrator. The growth of your community can also be planned using this metric. However, you can’t determine how many members are actively participating in group discussions, so you can’t gauge the engagement of a group.

7. Gathering feedback

There is no equivalent way to reach your community via Telegram Channels, but you can receive feedback from your community through Telegram Groups.

Unlike Channel subscribers, you can fine-tune your ideas by discussing them with Group members.

Telegram Groups and Channels: How to Use Them

It is possible to link your Telegram Channel directly to a Telegram Group with Telegram. When you post on your Channel, the messages will automatically be posted in your Group.

As a result, you’ll be able to hold discussions with your audience and get feedback from them. You’ll also be able to make use of the rest of Telegram Groups’ features as well. Family, friends, and colleagues can communicate more efficiently using Telegram Channels and Groups.

You can create a Telegram Group if you want a casual discussion where everyone can share their opinions. In contrast, if you want to restrict posting content to yourself, you should create a Telegram channel.

A Telegram group or a Telegram channel? What’s the best option for you?

Try out both Groups and Channels to see what works best for your community since you can interlink them and restrict Group activity to make it a Channel.

With time, Telegram continues to evolve with amazing new features. Try out the latest features of Telegram by updating your older version.

Why Is MetaTrader 4 So Popular?

What is the difference between MetaTrader 4 and MetaTrader 5

You must have realized that the more technology evolves, the more people want access to the latest versions. Everyone wants the newest version of every technological product on the market, which is nice. However, with forex trading platforms, it is not always the case. Metatrader 5 is an advanced version of MetaTrader 4, designed to upgrade with added features, add ons, etc. But, with critical observation, you realize that most users are reluctant to make the switch. It is almost as though most forex traders feel so comfortable with the older version- MetaTrader 4. And so one has to wonder, what is MetaTrader 4 and why is it so popular?

In this article, you will get to discover “what is MetaTrader 4,” its uses, and the reasons that make it so indispensable also, if you have ever wondered why you cannot seem to embrace the latest MetaTrader 5. Or you want to know why older and more advanced traders advise newbie traders on using MetaTrader 4, here is why.

What is MetaTrader 4?

Metatrader 4 is an online trading platform created by MetaQuotes in 2005. It is also available on desktop, mobile, and web versions. And each version works just fine, providing client usage satisfaction on all online transactions. It is popular among retail forex traders who want to trade the global market. Essentially, foreign exchange brokers obtain the license from the developers and use this license to provide the software to their clients or users.

 In addition to forex currency trading, MetaTrader 4 also facilitates trading other assets like cryptocurrencies, stocks, bonds, commodities, etc. Because of its wide range of usage, it becomes necessary to understand what makes it so popular. Below are a few reasons underlying the popularity of MetaTrader 4.

What is MetaTrader 4: Reasons for its popularity

Regardless of the upgraded version-MetaTrader 5, many traders continue to stick with the older version-MetaTrader 4. As a result, the popularity of MT4 among forex traders continues to rise every day. Here are some of the reasons why MT4 is so popular. And possibly why you find it difficult to stop using it as a forex trader.

It has a user-friendly interface.

The word out there concerning the user interface of MT4 is intuitive. People using the platform have reported that it is super easy to understand and relate to. Therefore this means a reduced learning curve for anybody new to trading. It is already hard enough trying to learn how to trade the forex market. You can imagine how excruciating it probably would be if a user had also to learn how to navigate the platform.

It constitutes a lightweight possession.

The MT4 is generally lightweight and works fine on both mobile and desktop devices. Additionally, many users have testified that the platform does not constitute any lag on their devices. And it does not reduce the processing speed of whatever device you choose to use it. It is both Android and IOS friendly which makes it somewhat universal.

MT4 is safe

The platform provides excellent security to users by a 129-bit key data encryption between server and trader. The reason is that most online traders deal in huge funds, of which exposure to hacking can devastate many lives. In addition, your IP address is completely concealed, whether or not you use a virtual private network.

Fluid exchange of information

In this day and age, the global market and large economy deal in loads of information. Essentially, information is a vital commodity for driving almost every activity. Therefore there has always to be clear and fluid, and smooth communication among trading parties. As a result, the MT4 platform provides accessible communication between brokers and traders. The essence is to give everyone on the trading platform an exceptional trading experience. Also, MetaTrader 4 provides news and other analytical tools to aid users.

It is highly customizable.

MetaTrader 4 is highly customized because it allows users to make their trading experience peculiar to their needs. It means that every user can have personalized trading and relate to the platform in the way that he or he wants. MT4 allows you to trade with other markets and supports all currency pairings. It is flexible that you can easily create and develop your trading strategy and even your expert advisors (EA).

How telegram.forex helps you enjoy MetaTrader 4

Since MetaTrader 4 also supports and allows copy trading, it can help you make the best of social trading. Essentially, with your access to the platform, you can connect it to all your social media accounts to receive and implement signals.

This makes it easy to integrate signal tools such as telegram.forex and automate your trading for a better trading experience with incredible results.

FAQS: Why do most traders use MetaTrader 4?

Why do most traders use MetaTrader 4?

Most traders use MetaTrader 4 because of its user-friendly and intuitive interface. It makes the platform useful to both beginner and advance traders, which facilitates learning. Several retail traders use it to open, close, and manage trade moves from anywhere in the world, regardless of the device they use.

Can you have MT4 and MT5?

Both MT4 and MT5 are cut from the same stalk. Essentially MT5 is supposed to be an upgraded version of MT4. However, some traders still like to have the two platforms on the same device, which will require separate accounts. While MT5 allows broader applications, MT4 allows forex trading at its basic form to suit most traders.

What is MetaTrader 4?

Meta trader 4 is an online trading platform created by MetaQuotes in 2005 that allows retail forex traders to access the global foreign exchange market. It is the choice platform for most brokers and users because of its straight rather than steep learning curve and general acceptability.

things to know about forex trading

7 Winning Strategies for Trading Forex

One of the most crucial elements of currency trading is choosing winning strategies for trading forex. In general, various traders have developed several trading tactics to aid you in making money in the market. We gathered 7 winning strategies for forex trading that you can learn from.

1.) MOMENTUM TRADING 

To begin with here is the first of the 7 winning strategies for trading forex. Based on the notion that sharp price moves in one direction are a strong indication that a price trend will continue in that direction for some time. Weakening movements show that a trend has lost momentum and might be about to reverse. For this purpose, momentum trading and momentum indicators are in use. 

2.) MOVING AVERAGE CROSSOVER 

A moving average (MA) is a straightforward and simple analysis tool used to create an average price that receives updates continuously. The sole purpose of creating moving averages is to detect trend direction and determine support and resistance levels. Technical traders frequently receive a trading signal when the values of an asset cross over their moving averages.  

This tool helps in smoothing out price data. A moving average can be calculated for any chosen time frame.  

Therefore, moving average tactics are winning strategies for trading forex and can be adjusted to work for any time frame. This makes the moving average suitable for both long-term and short-term forex and other traders. 

BASIC PRICE CROSSOVERS 

One of the most popular winning strategies for trading forex moving average trading tactics is price crossovers. A simple price crossing indicates a probable trend change when a price crosses above or below a moving average. 

TWO MOVING AVERAGES  

There is a term called “golden cross.” This means two moving averages, one longer and one shorter, are used in other trading strategies. So if it is a buy signal, the shorter-term MA crosses above the longer-term MA. This shows that the trend is moving upward.  

However, when the shorter-term MA crosses below the longer-term MA, it is a sell signal because it denotes a downward trend. This is called a “dead cross” or “death cross.”  

3.) TRADING TRENDS 

The method entails determining an upward or downward trend in the currency price movement and then selecting trade entry and exit points. Volume measurements, moving averages, relative strength indicators, stochastic, directional indices, and other indicators are just a few tools trend traders employ to assess trends. 

These points are based on the relative strength of the trend as well as where the currency’s price is located within the trend. It is another well-liked and winning strategy for trading forex. Additionally, it’s simple for beginners to comprehend and apply. 

4.) BREAKOUT TRADING 

This type of trading is among the easiest and best options for new forex traders and winning strategies for trading forex. Breakout trading is a price movement outside a specified support or resistance range. To comprehend how it operates, we must first comprehend what the term “breakout” means. There are two possible breakthroughs. 

A key strategy is breakout trading. This is because breakouts typically indicate the start of increased market volatility. We may profit from volatility by keeping an eye out for a break in a price level and investing when a new trend begins. 

According to some forex experts, the right time to enter the market is immediately after a support or resistance level is broken. Other experts advise waiting just long enough to ensure the breakout indicates a real up or down trend.  

 Prices rising above resistance levels frequently result in breakout patterns referred to as “bullish “. Bearish breakouts are the other kind of outbreak. “Bearish” breakout patterns, or when prices fall below important supports, cause these breakouts. 

There are two main objectives of breakout trading. One is to enter the market as soon as the price makes a breakout move. And the other is to stay in the transaction until volatility subsides. 

5.) CARRY TRADE 

This method is effective, and among the winning strategies for trading forex because a trader will receive the interbank interest rate on currencies, they buy and hold overnight. By adopting this method, a trader hopes to make money from the difference in rates, which can be significant depending on the amount of leverage applied. In a carry trade, a trader “borrows” money from a currency with a low-interest rate to pay for the purchase of a currency with a higher rate. 

Traders that carry trade aim to make money by profiting from differences in interest rates between nations. It is a popular type of trade. However, it can be dangerous.  

6.) FUNDAMENTAL ANALYSIS 

Traders use fundamental analysis to determine if a currency is overvalued or undervalued. This usually occurs through a close examination of a nation’s economic fundamentals. Additionally, they utilize the data to attempt to predict and compare how the currency’s value will change over time with other currencies. 

Fundamental analysis is difficult because of the various components of an economy’s data. These components can predict future trade and investment trends, making fundamental analysis difficult. By focusing on a few key signs, it can be simpler. 

Some crucial variables have an impact on a nation’s economy and currency. These include retail sales, GDP, CPI, inflation, industrial production, purchasing manager’s index data, and housing statistics. 

7.) RANGE TRADING 

The last of the 7 winning trading strategies for trading forex is range trading! Range trading is a straightforward and well-liked method based on the notion that prices frequently stay within a stable and predictable range for a predetermined amount of time. To find the best levels for trade entry and exit, range traders may employ some of the same methods as trend traders. 

Range traders depend on their ability to regularly buy and sell at foreseeable resistance and support highs and lows, sometimes repeatedly throughout one or more trading sessions.  

Trading professionals should concentrate on getting rid of lost deals and executing more profitable ones if they want to turn a profit. Any winning strategy for trading forex that helps you achieve this objective may be the most successful if you’re looking forward to recreating the success of accounts that are profitable and are run by seasoned experts, Telegram.Forex is your best option.

world currencies

10 Top World Currencies to Trade Forex

There is always a need for traders to seek out new opportunities. The Forex market is always changing, so sometimes traders must choose between volatile currencies or more stable ones due to the ever-changing world. It might even be worthwhile to buy currencies priced above parity against the US dollar.

In this article, we’ll share with you the top 10 currency trading lists. Based on the background of each currency, our analysts examined the list from various angles. You can already trade some of them with Telegram.forex.

Take a look at the world’s top 10 currencies:

10. Canadian Dollar – CAD

Among the most traded currencies on the Forex market is the Canadian dollar. Financial institutions tend to hold CAD as a reserve currency because of its stability in various spheres, including economics, society, and politics.

9. United Arab Emirates Dirham – AED

In the United Arab Emirates, the dirham is the national currency. In terms of the exchange rate, it is considered one of the world’s most stable currencies. In order to tame potential volatility, the government pegged AED to USD as the country depends heavily on oil and gas exports. As of today, the exchange rate of USD to AED remains relatively stable.

8. Israeli New Shekel – ILS

Israel’s currency is the new shekel. In terms of technology, the country is considered innovative and advanced. Israel’s resilient banking sector, which recovered quickly from the global financial crisis of the 2000s, is promising as well.

It’s also important to note that the new shekel is not pegged to any other world currencies.

7. Russian Ruble – RUB

In spite of its shocking inclusion on the list of the world’s top 10 currencies, the Russian ruble is a strong currency if you give it a chance.

Russia’s official currency is the ruble. RUB is one of the oldest currencies, with a history of almost 500 years. Oil and gas are two of the country’s main exports; it is one of the world’s largest economies.

In a time of resource shortages, soaring prices support the currency and support its strength.

6. Great British Pound – GBP

It goes without saying that the Great British Pound is the official currency of the United Kingdom, one of the world’s economic centers. The British pound is one of the oldest world currencies and one of the most traded.

In spite of Brexit’s uncertainty, the UK economy remains strong enough to capitalize on market opportunities.

For those of you who are interested in trading, you can open an account with Telegram.forex right now. Beginners can learn more about Forex currency pairs and begin trading even if they have no prior experience.

5. Euro – EUR

The euro is the next currency on our list. The euro is the primary currency of the European Union. It was adopted in 1999, so it is a relatively young currency. One of the most liquid and traded currencies in the world, the Euro is the world’s second reserve currency. Trading the EUR/USD pair has become so popular that special strategies have been invented.

Tourism and trade in the Eurozone have increased since the euro was introduced. Although the currency is struggling currently due to events shaking Europe, traders are still able to take advantage of it.

4. Swiss Franc – CHF

A top 10 currency list would not be complete without the Swiss franc. In Switzerland and Liechtenstein, it is the official currency.

The tourism and banking sectors dominate Switzerland’s economy, which makes it one of the wealthiest countries in the world. A large percentage of offshore funds are held in the country. Investing in the Swiss franc is considered a safe haven due to its stability and low inflation.

The Swiss franc has strengthened against the USD since the beginning of June. The CHF currency pair is quite active among Forex traders.

3. Japanese Yen – JPY

Traders should see the Japanese yen rise to the top of most valuable currencies in the near future.

As one of the world’s seven reserve currencies, the Japanese yen is one of the major currencies. Also, it is a highly traded currency.

The Japanese are proud of their technological base as one of the top importers and exporters in the world, adopting cutting-edge innovations. During times of uncertainty, the Japanese yen is often considered a safe haven for investors.

2. Chinese Yuan – CNY

People’s Republic of China’s official currency is the Chinese yuan. If you are learning more about CNY, you might have heard about the renminbi. A good thing to know is that the name of the currency is renminbi. In exchange, the yuan is the currency’s basic unit. CNY remains the official currency code for the Chinese currency.

China is the world’s second-largest economy by GDP. Additionally, it has become the biggest exporter and producer due to its fast growth. As a result of effective economic reforms, China is climbing up the first places in a number of ways, including having the three largest stock exchanges, having the largest workforce, and having the most prominent stock exchanges.

1. US Dollar – USD

As we all know, the world’s most powerful currency is the dollar. As the official currency of the United States, the US dollar is the cherry on top.

Around the world, USD is one of the most famous currencies. Aside from being a reserve currency, it is the most traded currency in the world. Most currency reserves contain USD as a major component. There is no doubt that USD is the most valuable currency in the world, and it is the preferred currency for international trade around the world.

It is now easier for you to understand which currencies are most valuable. If you are about to start trading forex, this top 10 is a good place to start. You can trade most of these currencies with Telegram.forex. Become a member if you are ready to begin trading right now.

forex long term trading

Forex Long Term Trading – Guide to Understanding

The economy around the world has been on a downfall for the past few years. As incomes from regular jobs are not growing steadily, people have been looking for alternative ways to make money, such as starting a side hustle. The number of people with a successful side hustle has been increasing with each passing day. Use this guide to learn more about how forex long-term trading can be a side hustle.

Profits with Forex Trading 

Forex long-term trading is one of the best side hustles for anyone looking to get into the trading game and make long-term profits. It has a low entry barrier, so you can get started with a few prerequisites. You can get into forex long-term trading while working a full-time job. Forex trading can be done throughout the day for five days a week, so there is plenty of time to get working in this field on a part-time basis.  

If you want to start a side hustle that has the potential of granting you financial freedom and becoming your primary business, forex long-term trading could be the right choice for you. Keep reading to know more about what this lucrative opportunity can do for you.  

Why Start Trading Forex? 

If you want financial freedom in the long term, forex trading is one of the best ways to achieve your goals.  

You can earn almost unlimited profits trading forex. There is no cap on how much you can trade or make profits. You will have to go by a strategy, which may start with a lower investment and make you fewer profits, but in the long term, as you get more comfortable trading in more enormous volumes, you will begin to get more significant returns.  

Forex trading gives you ample time in the day. You can work anytime and from anywhere. This flexibility extends to capital as well. You don’t need a considerable investment to begin. You can start with a small capital and proceed from there. 

No middle agencies or brokers are controlling the market. So, it is an excellent and equal investment and trading opportunity for anyone with the right mindset and research knowledge. 

Is Forex Long-term Trading A Profitable Side Hustle? 

The long-term forex trading strategy is starkly different from the short-term trading that most people are attracted to. The reason is that day trading or the short-term approach, usually provides quick profits. It is done in a matter of minutes. Several transactions are performed in one day. Losses and profits in day trading are quick to come and go. 

In forex long-term trading, you are in for the bigger game. You are not investing in getting a return within a few hours. The intention in long-term trading is to invest big to get bigger returns.  

Whether you choose short-term trading or long-term forex trading depends on a few factors, such as your risk tolerance level, financial goals, investment available, and more. Forex long-term trading has lower risk and stress than short-term trading.  

However, one important factor to know here is that there is no definite measurement for the profitability of this business. Forex trading can turn into a lucrative side hustle or even your full-time job, or it can bring in losses. The profitability depends on many factors, such as the market situation. You need to be vigilant and do correct research before investing.  

Why Should You Start A Forex Long-Term Trading Side Hustle? 

The forex long-term trading strategy has several benefits which compel you to dive in and try your hand at it.  

  • Low Stress And Risk 

As the positions in the long-term strategy are held for a long time, the trader does not have to deal with the day-to-day changes in the market. You don’t always have to be on top of the investments and trends in the market. The money is invested in a few long-term positions, so the daily volatility of the market does not have as huge of an impact on the profits as it would have on short-term trading. This keeps stress levels low.  

Moreover, it is easier to gauge the market trends and predict the changes in the long term as compared to evaluating the market daily. In this way, you can monitor and control the long-term positions in a better way. The overall risk is reduced as your investment is spread out in different long-term positions.  

  • Better Profits 

In forex long-term trading, the investment is usually bigger than in day trading. If you’re going for 20 pips in short-term trading, targeting 200 and more pips in the long-term strategy is the goal. As the investment is bigger, you have a better possibility of landing a huge profit in the trade.  

  • Requires Less Time Investment 

In forex long-term trading, you don’t have to spend long hours online trying to figure out the market trends for the next day or the same day. Since day trading is a daily process, it requires more time than the long-term strategy. So, investing in forex long-term trading can save you a lot of time.  

How Does the Long-term Strategy Work? 

There is no one solid method or process by which the long-term trading strategy works. Long-term forex trading involves identifying an upcoming market trend and chasing it to see where it goes and how it performs in the following days.  

The chase may go on for weeks and months, sometimes over a year. However, it doesn’t mean that the position has to open for a while to be classified under the long-term strategy. A position held for more than one day can also be a long-term investment depending on the situation.  

One important thing to keep in mind is to always include the possibility of uncertain events and events in the trading research and analysis process.  

Tips For Long-term Forex Trading 

Forex long-term trading can be a tempting side hustle to secure your financial future. However, before delving into this trading world, you must keep certain points in mind.  

An obvious difference between short-term and long-term strategies is the mindset. Day trading is exciting and has a certain thrilling charm to it. So, you may get more involved in it. But long-term trading is more peaceful and straightforward. It is not as exciting as day trading since you don’t have to chase the money daily. So, make sure you know the mindset you need for forex long-term trading and build yourself according to it.  

Another important tip to know here is regarding the research and analysis process in trading. In forex long-term trading, you need to have a solid research plan. Come up with a plan and make sure to follow it properly. Many traders change their methods and strategies mid-way as the period is long. This can lead to catastrophic results and is inefficient. A smart decision is to do the required research beforehand, make a strategy, and stick with it.  

One way to stick to the long-term strategy is to shift to research methods that suit it. For example, instead of following the daily trends, charts, and reports, look at the weekly or even monthly trends and charts. The weekly data will provide a better general view of the market environment in the long term.  

Signals For Long-term Forex Trading 

Signals are a tool for forex long-term trading only. It does not have many uses in the short-term strategy. 

Forex signals are applications that help traders make trade decisions by analyzing the prices in the market and their upcoming trends. The signals work best when determining the price range over a long period, so it is not useful to day traders. Once the application has completed the market analysis, you will receive signals to help you find the best positions for investment at the point in time.  

As a long-term trader, you can choose from multiple trading signals options. For example, there are forex signals available for the MetaTrader 4 platforms. Here you can evaluate the performance of your forex signal using the extensive data and the analysis system on the platform. After evaluation, you can choose the best signal for your trading endeavors.  

End Note – Using A Trade Copying Software To Make More Profits 

While long-term trading can be a lucrative side hustle or even your main source of income, it requires deep research regarding several factors. You need to stay ahead of the market and find the best signal provider, deal with the technicalities, and handle the investments. All the pressure can lead to great losses.  

You need a system that will help you steer clear of the technical issues, costly experimentations, human entry errors, and more blunders that can affect your investment and profits.  

Telegram.Forex trades copying software for the MetaTrader 4 platform. This software can automate your trading so that the required action is taken as soon as the markets are open and meet the conditions. The tool also helps you find the best signal providers in the forex long-term trading game and ensure that the signals work by displaying a success score.  

Besides automating your trade actions, you can see the performance and have a clear view of the data showing what needs to be changed or is not working. This will save you huge amounts of money you might have wasted trying different strategies and signal providers. 

Visit the official website of Telegram.Forex to know the complete details and start your forex long-term trading journey.  

forex trading tips

11 Forex Trading Tips to Build Your Portfolio

Practice and discipline are the keys to becoming a successful trader. Additionally, they perform self-analysis to determine what drives their trades and learn how to keep fear and greed out of the equation. Practicing these skills is essential for forex traders. In addition, here are 11 forex trading tips that can help you maximize your profits in the forex market. 

1. Identify your trading style and goals

It is essential to have an idea of your destination and how you will get there before embarking on any journey. Consequently, your trading method should be capable of achieving your goals once you have clear objectives in mind. The risk profile of each trading style varies, which requires a particular approach and attitude.

Day traders, for example, may be able to survive going to sleep with an open position in the market. Conversely, if you believe a trade will appreciate over a period of several months, you may be a position trader. Make sure your personality matches the kind of trading you do. Stress and losses will result from a personality mismatch.

2. Trading platform and broker

In order to select a reputable broker, you should spend time researching how different brokers differ. Each broker has different policies and methods for making a market, so you need to know theirs. Trading on the over-the-counter market or spot market differs from trading on exchange-driven markets, for instance.

The trading platform of your broker should also be suitable for the analysis you intend to perform. The combination of a good broker and a poor platform can be problematic. Combine the two for the best results.

3. Using Consistent Methods

It is important to know how you will make trading decisions before you enter any market as a trader. To make the right decision on whether to enter or exit a trade, you must understand what information you’ll need. To determine the best time to trade, some traders monitor the economy’s fundamentals and charts. There are also those who rely solely on technical analysis.

You should choose a methodology that is consistent and adaptive. Market dynamics should be kept in mind when designing your system.

4. Identify entry and exit points

When looking at charts of different timeframes, traders tend to get confused by conflicting information. The same signal that appears as a buying opportunity on a weekly chart might show up as a sell signal on an intraday chart.

Be sure to synchronize your weekly and daily charts if you use a weekly chart as your basic trading direction and a daily chart as your time entry. Wait until the daily chart confirms the weekly chart’s buy signal, if you have a buy signal on the weekly chart. Make sure your timing is on point.

5. How to Calculate Your Expectations

The reliability of your system can be determined by its expectancy formula. Analyze your winning trades versus your losing trades, then determine your winning trades’ profitability versus your losing trades’ losses.

Take a look at the ten most recent trades you made. In case you haven’t actually made any trades yet, go back to your chart and see where your system indicated you should enter and exit a trade. Identify whether you would have gained or lost money. Keep a record of these results.

Although a successful trading plan can be gauged by determining how much profit you earned, there is no guarantee that you will earn that amount each day you trade. To illustrate how expectancy is calculated, here is an example:

Formula for Expectancy

Expectancy = (% Won * Average Win) – (% Loss * Average Loss)

What Expectancy Looks Like

The percentage win ratio would be 70% if you made ten trades, seven of which were winners and three of which were losers.

If your seven trades made $2,800, then your average win would be $400 ($2,800/7).

If your losses were $900, then your average loss would be $300 ($900/3).

Expectancy = (% Won * Average Win) – (% Loss * Average Loss)

Expectancy: (.70 * $400) – (.30 * $300) = $180

Trading a commodity could earn a trader about $180 on average.

6. Ratio of risk to reward

It’s important to determine how much you can realistically earn before trading and how much risk you’re comfortable taking. Traders can use a risk-reward ratio to determine whether they have a chance of making a profit over time.

A risk-reward ratio of 1:2 would occur if the total loss per trade is $200 and the total profit per trade is $600.

In the case of ten trades, if only four of them were profitable, the total profit would be $2,400 ($600 x 4).

Consequently, six of the ten trades would have lost money at $200 each, resulting in a total loss of $1,200 ($200*6).

Thus, even if only 40% of the trades were correct, a trader would earn a profit.

7. Putting in a stop-loss order

A stop-loss order, which exits a position at a specific rate, can mitigate risk and is one of the most important of our forex trading tips. The use of stop-loss orders is an essential forex trading tip since they help traders cap their risk per trade, preventing significant losses.

If the trader used the example above, they would be willing to take a risk of losing $1,200 per trade in order to make $600 per winning trade. A single loss can wipe out two successful trades. An unrealistic winning percentage would be required to make up for a series of losses incurred as a result of being stopped out of an adverse market move.

Forex trading tips that are winning on a percentage basis are important, but managing risk and losses is equally important to avoid losing everything.

8. Small losses and focus

You must remember that your money is at risk once you have funded your account. As a result, you shouldn’t have to use your money to pay for everyday expenses. Consider your trading money as vacation money. Vacation money is spent after the trip is over. Trade with the same attitude. To manage your risk effectively, you must mentally prepare yourself to accept small losses. You will be much more successful if you focus on your trades and accept small losses rather than constantly counting your equity.

9. Reward loops that work

When you execute a trade according to your plan, a positive feedback loop is created. A positive feedback pattern is formed when you plan and execute a trade well. Profitable trades breed confidence, especially if they are successful. In order to build a positive feedback loop, you have to take losses but do so according to a plan.

10. Analyze the weekend

On weekends, when the markets are closed, study weekly charts to look for patterns or news that may affect your trade. Perhaps a pattern is forming a double top, and the pundits are suggesting the market is about to reverse. Essentially, the pattern prompts the pundits, who reinforce the pattern as a result. Your best plans will come to you when you are objective. Learn to be patient while waiting for your setups.

11. Be sure to keep a paper record

It is a great learning tool to have a printed record. Put your reasoning for the trade on a chart, as well as the fundamentals that influence your decision. Enter and exit points should be marked on the chart. Comment on the chart with any relevant information, including emotional reasons. Were you panicked? How greedy were you? Did you feel anxious? In order to execute according to your system rather than your habits or emotions, you must objectify your trades.

Conclusion

With these forex trading tips, you can become a more refined trader by following a structured approach. By practicing consistently and using discipline, you can become increasingly proficient at trading. If you’re interested in putting these tips and techniques into practice, begin by establishing a telegram.forex account today.

forex lifestyle

Forex Lifestyle – Making It a Reality

While forex trading is assumed just as a side hustle to earn a few extra bucks, in reality, it can do wonders for your life. Forex lifestyle can transform your life and make you financially independent. Forex trading has real and long-lasting potential, which can be generously financially rewarding for you. The forex trading market is expanding every second, with a daily turnover of  $5 Trillion. The industry is rapidly getting popular among traders and beginners, assuring us that forex trading isn’t fading out soon. However, it is possible to form a forex lifestyle and bring financial stability through forex, but it can be hard and intimidating.

Don’t worry! With the RIGHT strategy and determination, you can convert forex trading as your side hustle to the dreamy forex lifestyle. 

Is Forex Lifestyle A Reality?

Yes certainly!

The biggest financial market in the world is the forex market which is currently worth about  $2.4 quadrillion. People are gradually turning towards forex trading and the forex lifestyle, creating global interest in the industry. You only need the right skills and determination to become a successful trader. You can learn through different courses and practice frequently to know the ins and one of the industry.

What Are the Risks?

Before thinking about the forex lifestyle seriously, you need to consider these risks:

  • Small changes in the market can have a large effect. The majority of FX trading products have significant leverage. You are still liable for the entire sum even when you only contribute a small portion of the trade’s total value upfront.
  • Exchange rates fluctuate a much. Even in relatively brief bursts of time, they tend to move about a lot. Significant investing risks exist since currency fluctuations might work against you and result in a loss of funds.
  • The currency markets are quite challenging to forecast. Exchange rates are affected by several different causes.
  • The effectiveness of risk management methods is limited. Stop-loss orders will only limit your losses. You might also pay a higher amount to have your stop-loss order guaranteed.

Remember, the forex lifestyle isn’t a joke, and you need to be extremely focus-driven to make the forex lifestyle an utter reality.

Pros Of Making Forex Lifestyle And A Career

  • Forex Markets  operate all day, 24/7, which provides better opportunities to traders who want to benefit from forex trading. Because there are no physical restrictions on where you can work, you can operate your forex business without traveling.
  • Forex trading is easy to work with and offers almost no complexities, enabling beginners to use it. Comparatively, forex trading is convenient and accessible globally. So you can trade easily from anywhere and at any time.
  • Foreign currency, sometimes known as Forex, is a fantastic investment vehicle. You may avert the consequences of inflation on your portfolio by investing in other currencies. Forex is also an excellent strategy to vary your holdings and lower risk overall.
  • The forex market has minimal entrance requirements and low ongoing transaction expenses once you’re trading there. Spreads, defined in pip and included in the price of a currency pair, are the usual source of income for traders.
  • The forex market has minimal entrance requirements and low ongoing transaction expenses once you’re trading there. Spreads, defined in pip and included in the price of a currency pair, are the usual source of income for traders.
  • The foreign exchange market is among the most liquid market in the trading community due to its large worldwide scope, huge volume, and round-the-clock activity. The capacity of an investment to be promptly changed into cash is known as liquidity. Large sums of money may be transferred into and out of currencies in the forex market thanks to the strong liquidity and usually low spreads, representing the discrepancies between the demand and offer prices for potential buyers and sellers.
  • One advantage of forex trading is that, based on market conditions, you can choose to purchase or sell currency pairs. This directed trading on the stock market typically demands significant expenditures due to the high related costs. However, due to cheap transaction fees and liquidity, a foreign exchange enables simple direct trading in line with market movements.

What Can You Do To Change Your Lifestyle To Forex Lifestyle?

Work On Yourself

You’ll need to shift your perspective from having a little fun to running a full-time business.

Although you don’t have any merchandise to sell or property to manage, psychologically speaking, the situation is precisely the same. It would help if you made every effort to protect your funds and keep the business’s doors open because your forex broker is your whole operation.  Make a company plan to follow, in our case, a trading plan with guidelines and risk management ideas. Never allow emotions to influence your company decisions; instead, discipline yourself to work full-time to carry out your business strategy.

Additionally, Forex trading and forex lifestyle will significantly enhance the quality of your decision-making in your career and personal life. There are many other aspects of life where you must consider risk vs. reward and chance of success in addition to trading.

Start Small

Starting small makes it simpler to test your trading technique, learn how to stick to your plan no matter what, gain confidence, and develop as a trader while making extra income to supplement your pay. Though achieving a forex lifestyle isn’t easy, efforts can attain it.

Because you still receive income from your work, you won’t feel as much obligation or emotional commitment as you would if you had to start trading immediately. Then, you may concentrate on developing into a successful trader who earns monthly money to transform your forex lifestyle.

If you can consistently earn money trading with a small or medium-sized trading account, you can do the same with a larger one.

Get started now!

Conclusionally, forex training is the best start for beginners; full of benefits and a global community that will help you whenever you want. Several factors make forex, not just a legitimate business but also the greatest business plan out there. It offers scalability, flexibility, leverage, and overall lower risk.

The fact that trade will always exist is, in the end, its finest feature. Buying and selling will always be one of the primary activities that move the markets worldwide, irrespective of age or trends.

Want to give trading a shot and improve your lifestyle by sprinkling in the forex lifestyle?

Telegram Forex  can help you make your trading less expensive and convenient and let you save time! Get access to their all-in-one service, making forex trading a pleasant experience for you.

forex trading signlas

Understanding Forex Trading Signals

If you choose to trade forex, you’ll quickly realize that it pays dividends to use all the tools at your disposal. In addition to advancing your trading strategy, these tools should increase your output and you should be able to generate more profit. It is hard to ignore forex trading signals as they have the potential to take your forex trading efforts to the next level.

A signal is a tidbit of information transmitted electronically via email, SMS, text, and in some cases, even social media. In many cases, this is crucial information about the market that needs to be known. Signals are essentially on-the-fly updates you can incorporate into your forex trading decisions.

Types of signals

A dedicated forex signals trading service is often used to issue forex signals. There are two types of signals that can be implemented through these services: automatically or manually. In the late 2000s, automated signal trading really gained traction, and novice traders certainly embraced it. In addition to enforcing unemotional trading, automatic signal-trading increases trading speed and execution accuracy. A downside is that you’re basically taking the decision-making process out of the equation or minimizing it if you rely on a service, system, or individual.

More advanced forex traders tend to put a lot of weight behind manual signal trading. Since the trader still has to make the final decision, human intelligence still plays an important role in the process. Manually trading forex signals does sacrifice speed-and perhaps even efficiency-but for some, increased control is worth the trade-off.

Are forex trading signals beneficial or harmful?

A fast-paced, constantly changing market, such as forex, requires traders to seek information that will enable them to anticipate price movements before they occur. Signals used in forex trading are used precisely for this purpose – although the results are never guaranteed, and your individual trading strategy will influence the profits you generate.

To help you decide whether to use these signals to guide your trading activity, here are some of the advantages and disadvantages.

Advantages:

Trading signals can be customized to suit the needs of each trader.

Traders operate on their own timelines for opening and closing positions, and may have different levels of comfort with risk/reward calculations. The success of a particular trading strategy can also be influenced by the level of comfort a trader has with certain signals and the past success of the trader. Trading signals can be used to support any trading strategy you choose.

Trading signals can be tracked in a variety of ways.

Even when traders aren’t actively following a particular forex chart, they can use signals to watch for trading opportunities through subscription-based services, text alerts, and other communication channels.

Trading signals can be created by analyzing a wide range of chart data. 

Forex traders can use signals from several different perspectives, such as historical data, trading volume, and price momentum. An increase in confidence can ultimately help traders make better trading decisions.

Disadvantages:

It is impossible to be exact with signals. 

Most serious forex traders use trading signals to guide their decision-making, but there is much disagreement over which signals deliver the best returns. The result is that traders must develop strategies for using signals that work for them, although there is no guarantee that they will succeed either in the short term or over the long term.

The threat of false signals is constant. 

False signals are a constant risk with any indicator, even if you are using multiple signals to confirm trends. No serious trader places a substantial amount of their trading funds into a single position, which is why they always execute trades with a grain of salt.

Traders who rely too heavily on forex signals may experience analysis paralysis.

You can compromise your own decision-making and critical thinking abilities by trying to account for too many variables when conducting comprehensive research and eliminating risk from your trades.

An overview of signal services

There may be some similarities between some signal services, but there is no one-size-fits-all solution. The following four types of signal services are common to our experience:

  • Signals that are free or unpaid, usually provided by volunteers.
  •  Providers that deliver algorithmic or personal signals through paid or purchased services.
  •  A signal derived from a cumulative signal system or source that is paid for or purchased.
  • Trading signals (purchased or otherwise) emanating from trading software that is installed on the computer of the trader; this type of signal is commonly referred to as an expert advisor or forex robot.

Analyzing Forex Trading Signals

Prior to using forex signals and forex signal trading services, you should have an understanding of what a realistic signal actually means. The content you receive from most providers should generally follow the same format, regardless of how the signals are presented. 

The signal may state, “Sell USD/CHF at CMP 0.8710 – SL 0.9554 – TP 0.8278.” In other words, the signal is telling you to “sell” USD/CHF, and the “CMP” is set to 0.8710, with 0.9554 as the stop loss, and 0.8278 as the take profit level. 

Despite abbreviations and numbers on signals, understanding what they mean isn’t too difficult, even if they are abbreviated.

Consider These Factors Before Using a Forex Signal Service

Forex trading signal services, like Telegram.forex, are easy to use. The information is copied into your trading account after you sign up. Often, this idea leads people to believe that Forex trading signals are a quick-fix solution. The truth is that this is not the case. In spite of the fact that reading a simple signal may provide you with a bite-size instruction, it does not negate any of the risks associated with trading. 

Here are some things you should know before using a forex signal service:

Compare and contrast forex signal providers.

You’ll find that no two forex signal trading services are identical; their quality varies greatly. There are plenty of “dud” signal services around, with success rates ranging from 60% to 75%. Before you sign up for a forex trading signal service, make sure you understand what you’re getting into.

Know what level of risk you are comfortable with.

Forex trading presents risks because of its volatility and leverage. Therefore, it’s possible to lose a lot of capital quickly. Trending pairs can experience wild swings, such as XAU/USD. The level of risk associated with any forex signal must be understood before you act on it.

Market conditions should be understood.

Forex signals generally provide emotionless advice. Nevertheless, this cannot be an excuse for not understanding the market. Before acting on a forex signal, learn about the current market conditions and the limitations.

Forex trading requires you to take advantage of every edge available. For most people, forex signals trading is the biggest advantage of this market. As you’ve seen from the information above, their presence represents the missing link between staying on top of market conditions and lagging behind the most active traders.

mastering forex trading

Master Forex Trading: A Beginner’s Guide 

Are you new to forex trading? Are you looking for some simple yet effective trading tactics to help you master forex trading? You’ve come to the right place. 

In this short guide, we’ll go over five key aspects for beginners. Each one is simple to grasp and ideal for anyone who is refining their talents. 

You’ll be able to make simple trades with confidence if you take the time to master these principles. Even better, you’ve set yourself up to explore more advanced trading techniques in the future. 

Master Forex Trading With These Tips 

Here are some successful forex trading tips that will help you master the complexity of the forex market. The forex market is the world’s largest market in terms of average daily trading volume, surpassing the stock and bond markets.  

It provides traders with a number of inherent benefits, including the highest leverage accessible in any investment arena and market trends every trading day. There is virtually never a trading day in the FX markets when “nothing happens.” 

Remember, A Trading Plan is The Base of Any Successful Trade 

With a plan in place, you can determine how much money you can put into Forex trading. What is your starting capital, and how much can you afford to lose after your first trade? Based on your calculations, you will analyze the spreads and commissions that different brokers offer their clients. 

Using a Forex profit calculator will make your planning easier. Commissions in the Forex market are based mainly on spreads or the ratio between the offering and buying prices of currency pairs. Read the trading terms on various brokerage websites carefully before opening a trading account

Keep Tabs on the Pivot Points  

To master forex trading, keep a constant watch on the daily pivot points. This is especially important if you are a day trader, but it is also important if you are a position trader, swing trader, or just trade long-term time frames.  

At times, pivot trading can feel frantic. That is because many traders place orders at pivot levels since they are certified pivot traders, and markets will commonly look for support or resistance or make market moves at pivot levels. 

Go With An Edge 

To master forex trading, you must be willing to take risks. The most successful traders are those who will risk their investment when a market opportunity provides them with an edge, thereby increasing the likelihood that their trade will be successful. 

Your edge may be anything, even something as simple as acquiring at a price level that has consistently shown to be a strong support level for the market.  

A range of technical aspects can help you achieve a competitive advantage, – and so increasing your chances of success. 

Simplify your Technical Analysis 

Simple trading techniques that only require a few trading rules and the analysis of a few indicators result in more profitable trades. 

As a matter of fact, we understand one very successful forex trader, a gentleman who pulls back the capital from the market almost every trading day and who has ZERO technical indicators overlaid on his charts… No trend lines, no moving averages, no relative strength indicator, and, most emphatically, no expert advisors (EAs) or trading robots. 

Preserve Your Capital 

Avoiding significant losses is more important than generating big profits in forex trading. If you’re new to the market, this may not seem entirely warranted, but it is. Competing in forex trading requires learning how to protect your funds. 

Like every other investing sector, the FX market has its own distinct characteristics. To master forex trading and trade effectively, a trader must develop these traits via time, experience, and research. 

If you enjoyed this blog on mastering forex trading, check out the other informational blogs from Telegram.Forex!