Advanced Forex Trading

Throughout this section, we are going to take you through the next steps in Forex trading. We are going to level you up in momentum trading, pivot points, Bollinger bands, MACD and Forex Scalping. We will take the guesswork out of the game for you because after reading this section, you will have a thorough grounding in the subject.

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Skilling

4.6
Demo account Yes
Minimum deposit -
Minimum deposit: £100
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider
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Avatrade

4.5
Demo account Yes
Minimum deposit 100€
Minimum Deposit: £100
Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
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eToro

4.2
Demo account Yes
Minimum deposit $200
Minimum Deposit: £200
67% of retail investor accounts lose money when trading CFDs with this provider.
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Plus500

4.5
Demo account Yes
Minimum deposit 100€
Tradable Assets: CFDs on Forex, Cryptocurrencies, Stocks, Commodities, ETFs, Options and Indices
76.4% of retail CFD accounts lose money.
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Trade Nation

4
Demo account Yes
Minimum deposit -
No minimum deposit ensuring no barrier to entry for beginners
69.9% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Markets.com

5
Demo account Yes
Minimum deposit 250€
Minimum deposit: £250
73.9% of retail investor accounts lose money when trading CFDs with this provider.
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easyMarkets

4.5
Demo account Yes
Minimum deposit 100€
Minimum Deposit: £100
Between 74-89% of retail investor accounts lose money when trading CFDs with this broker.

MOMENTUM TRADING

Simply put, the concept of momentum trading is that trends tend to reinforce themselves. These trends, naturally, can be either positive or negative. In the following pages, you will learn all about momentum trading and all its variations. Below are three of the main ones:

PIVOT POINTS

A pivot point is a technical term. In its simplest form, it refers to the average of the intraday high and low, and the last closing price available for any particular currency. Generally, if people are trading above the pivot point, you should go long, and you should go short if it’s averaging below it. Of course, it’s not necessarily so simple as all that! We will go way beyond that simple premise and show you how to figure out levels of entry, profit-taking and stops so that you can get the most out of these indicators.

Bollinger bands

A Bollinger band is a statistical term. It is used to describe an envelope that typically encompasses a standard deviation above and below the price of a currency over time. This means that the bands are not of a fixed size; they can expand and contract with changes in volatility. They can also sometimes be plotted in multiples of a standard deviation.

These bands are tools used by Forex experts all over the world. They serve to indicate probable events in the near future. We will show you all the uses Bollinger bands have, and how to learn how to read them. Also, you will learn how to use them to formulate successful Forex strategies.

MACD

MACD stands for Moving Average Convergence Divergence, which is an entirely different type of indicator. It is calculated by determining the difference between the 26-day and 12-day Exponential Moving Averages, or EMAs. Understanding and implementing the MACD is truly an art, and it’s an art you are about to learn, so get ready.

FOREX SCALPING

Forex scalping refers to a trade that is done for a few seconds to a few hours, generally for a few pips and using lots of leverage. It can be risky if you don’t know what you are doing. But, we are going to show you its correct implementation, and tricks to get the most out of this often-abused strategy. Ultimately, it should be another tool in the repertoire managed with the proper risk management techniques, which, of course, we will also show you presently.

CONCLUSIONS

Really, all the above techniques are powerful but potentially dangerous if misused. We are about to show you how to avoid any kind of pitfall. We will instead show you how to work with all types of momentum trading and other kinds of advanced Forex trading in the best way possible.