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How to backtest strategies on TradingView

As a trader, it is important to validate the effectiveness of your trading strategies before putting them into practice. Backtesting is a powerful tool that allows you to test your strategies using historical data and evaluate their performance. TradingView offers a simple and user-friendly interface to backtest trading strategies.

How to develop a professional trading plan in 2023

If you view your trading plan as an expensive sports car aimed at taking you from point A (aspiring trader) to point B (consistent successful trader), then evidently the motor of your trading plan is the actual trading system. The psychological aspect is “how you drive the car”. It is very possible to trade a successful system poorly. That’s ...

December 19, 2022

The psychology of key levels in forex trading

For many forex traders, the psychology of the big players (bank traders) is a mystery. However, their behavior isn’t as mysterious as many people assume. On that note, let’s shed some light on the matter. The big players directly impact market structures. Understanding how they think, provides you with several insights. This knowledge helps you understand...

November 16, 2022

The 5 best Elliott Wave indicators on TradingView

TradingView hosts over 100 Elliott Wave and we have tested them to decide the top 5 best indicators you can use for free. In essence, Elliott Waves describes price movements as alternating between impulsive phases that establish the direction of the trend and corrective phases that oppose the direction of the trend.

September 23, 2022

How do you trade forex with a session map?

Experienced stock market traders often attempt to apply their battle-tested systems to forex trading. They often suffer the same setbacks as aspiring forex traders when they do so. Why is this? What makes the forex market so different from stocks, bonds, or indices? One key difference is that the forex market trades continuously, 24 hours a day, five days a week. This continuous action (but fluctuating in intensity) means new participants must adjust their trading style. Strategies that worked in other markets need to be tweaked to tackle FX successfully.

11 tips to improve the performance of your forex EA

Expert Advisors can be a godsend for Forex traders. Automatically finding new opportunities based on your parameters, emotionless trading, timesaving, back-testing – the benefits speak for themselves. However, what if the promise of an EA is too good to be true? What if the hours spent carefully crafting an automated version of your own trading strategy ends in an EA that isn't up to scratch? It's often the case that an EA simply isn't good enough, either through inconsistent work performance or perhaps not working at all.

November 23, 2021

How do you build a position with Pyramiding?

As a trader, it's a general rule of thumb that we should always be looking to maximise potential returns (per unit of risk) with each transaction. We should always be looking to squeeze as much out of the market as we can. There are times when this can occur by simply letting the trade run its course. However, sometimes market conditions align perfectly for savvy traders to "press the trade" or "pyramid" into the trade.

October 12, 2021

7 Biases Holding Back Your Trading

After seeing the effects of these biases on my trading and the trading of my colleagues, I noticed that seven key biases have a disproportionate influence on an individual’s trading. As you read on, try to ask yourself how these biases may have impacted your trading. Then, think about the ways you can prevent them from affecting your future trading.

September 3, 2021

Using the Correlation Matrix to trade like a FX dealer

The FX market is expansive. There are seven major pairs and over 70 crosses! How can one person possibly keep track of everything and identify the best pairs to trade at any given time? That's where the correlation matrix can come in handy. Most traders, when exposed to the word “correlation”, automatically think of intermarket analysis.

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