Everything works easily and quite well. The customer support is really awesome. I would give 10 stars if there was option for that! I am joining FBS since , 1. CS speak in my language 2. CS very helpful 3. low spread and high leverage 4. very fast transactions and I am very happy with this broker, very good FBS,. Honestly I believe fbs is the best fx broker among many. Spread can be better but their support is too good to be missed. totally recommended!!!! Setting up EAs on MT4 and MT5.

Learn how to create, edit, launch and complete the operation. using MQL4 and MQL5. Through MQL4 and MQL5, you can set up VPS easily with only a few clicks, also with one of the lowest latency. Account Type Comparison - How to open Vantage Markets Forex trading account? How to sign up on Vantage ex-VantageFx and open a Forex trading account? FXPro expands the markets with more metals including Lead, Zinc, Copper and Aluminium. JustMarkets updates payment methods.

Google Pay and Apple Pay now available. CySEC regulated M4Markets enters europe. By using our site, you acknowledge that you have read and understand our Privacy Policy Cookie Policy , and our Terms of Service. Page Navigation Home Forex Brokers FBS Column Forex Trading accounts with the Highest Leverage in the world FBS. Do you know the highest Forex leverage in the world? FBS offers leverage up to on MT4 and MT5 trading platforms.

Visit the official website of FBS today to find out more. FBS Official Website Smart levels of leverage — What you need to know to stay in the game It goes without saying, but if you decide to throw caution to the wind when trading with leverage, then large losses can occur. Leverage involves borrowing an amount of money from a broker to open a trading position.

Compare the Leverage of Online Forex Brokers The disadvantage of Leverage and How to avoid the risk On the other hand, the more leverage you use, the riskier it is, such as when the market goes in the opposite direction to your position.

In this case, leverage works against you and can increase the level of your losses. You should act prudently, so use a level of leverage to keep you in the game, long-term. Always remember you control your leverage levels. Many experienced traders trade a extremely low levels of leverage. You will always be best to trade at low levels of leverage, regardless of whether you believe you are an experienced trader or not. Setting a stop-loss, especially a trailing stop, can protect your capital in case your position starts moving in the wrong direction.

It keeps your positions small and can also limit the amount of capital used per position. All traders experience losing trades as part of their trading career. You might get lucky, but the odds are against you.

Latest Forex Brokers Ranking How to be a successful trader? List of Online Forex Brokers Here are some practical steps you can take to avoid revenge trading: Always trade with what you see, and not with what you think. Trust your trading system, follow your trading plan, and make adjustments to your risk management system if needed. Be calm, be rational, and trade only on what is in front of you at the present moment.

FBS 4. CFD Service. Your capital is at risk. Very friendly. I traded with several fx brokers but fbs support is really nice. very good broker!!! my account support helps me very nice and now no problem at all! Page Navigation Next Posts. How to use Average True Range technical indicator on MT4 and MT5 platforms. How to Use the Average True Range to improve your trading results Have you ever noticed how you can be right about the direction of a trade, but fail to make a profit?

Previous Posts. This article is your answer if you are thinking about level 1 and level 2 market data. Market data levels represent information about current prices and recently completed trades.

Market data level 1 displays the best bid-offer-volume quotes in real-time—market data level 2 displays as same as level 1 plus the market depth and order book. Market-level 3 represents the highest level of quotes provided by a trading service, giving it the ability to enter quotes, execute orders, and send information unites market data level 1 and market data level 2. In various types of market data, there is information regarding current market rates and recent trades. Compared to the level I data, Level II data gives more information.

Traders can subscribe to their preferred data set through their brokers. The cost of both the data sets are different and depends on the broker. Before choosing a data Level, you must be aware of all the different data provided by that Level on your feed, so you pay only for what you can use.

Level 1 market data displays the best bid-offer-volume quotes in real-time and gives information about bid price, bid size, ask price, size, last price, and last size. See market data level 1 example video:. When you get basic information related to the market, it is considered as Level I market data. It helps traders in taking trades based on charts, price actions, and indicators. The following terms are associated with the Level I market data.

The highest rate at which a trader is likely to purchase the financial asset. Depending on the financial market, the total number of shares, currency pairs, or contracts, traders are buying at the bid price.

The lowest rate at which a trader is likely to sell a financial instrument. It can also be said the offer price. Depending on the financial market, the total number of shares, currency pairs, or contracts, traders are selling at the asking price. The last rate of the last transaction is executed in the market. Depending on the financial market, the total number of shares, currency pairs, or contracts sold in the last transaction. What is Level 2 Market Data? Level 2 market data displays the best bid-offer-volume quotes in real-time , market depth as the magnitude of buy and sell orders at different prices, and order book where most orders are concentrated among market makers.

As Level II gives data on the higher bids and asks prices and a lot more, it is more useful than Level I market data. The following information is related to the Level II order book. It represents the top 5 to 15 rates at which traders place buying orders for an asset. As a result, it would show you all the current bids that are below the stated rate. When it comes to an active future contract, you can see a bid for every bid below the current bid.

Depending on the financial market, the total number of shares, currency pairs, or contracts traders are buying at the given bid price. It represents the top 5 to 15 rates at which traders place selling orders for an asset.

When it comes to an active future contract, you can see the ask price for every tick price above the current ask price. Depending on the financial market, the total number of shares, currency pairs, or contracts available at the given ask price. In addition to that, Level II market data also provides information for trading in between the bid and ask price changes.

Many traders also look after the stock volumes on how many shares are being bought and sold. Market 3 data level provides all the information and services of level 1 and level 2 quotes plus provides the ability to enter or change quotes, execute orders, and send out confirmations of trades.

Level 3 service is restricted to the National Association of Securities Dealers NASD member firms. Traders can also combine this perspective with the recent transactions, like if the transactions are executed at the bid price, there are chances of prices to go down for the short term. If the transactions are executed at the ask price, there are chances of prices going up in the short term. As per the knowledge and preferences, a trader can mix and match various trading strategies.

Identifying key chart tools and knowing how to trade them plays an important role in your trading performance. Support and resistance levels form the basis of many technical price-levels and are essential tools in any technical toolbox. Key chart levels are important technical levels at which a financial instrument could face increased buying or selling pressure. Traders look out for key chart levels to place their buy and sell orders around those lines, which accelerates price-moves and increases volatility when the price reaches those levels.

Typically, key chart levels are identified by support and resistance lines, which act as barriers for the price when reached from the upside or downside, respectively. Support levels are price-lines at which the market had difficulties to break below, signalling that buyers may join the market again if the price falls to a key support level. Resistance levels are quite similar to support levels, only that they form to the upside and signal price-levels at which the market had difficulties to break above.

When the price reaches a key resistance level, sellers may jump into the market and send the price lower again. There are many types of key chart levels which act as important support and resistance levels in the chart. Horizontal key chart levels: As their name suggests, these are horizontal levels which are placed at the top of a previous swing high, or at the bottom of a previous swing low.

Horizontal key chart levels are then projected into the future to mark price-levels at which the market may retrace, as shown on the following chart. Trendlines and channels are commonly used in Forex trading to spot uptrend and downtrends and ride the trend. The following chart shows how trendlines and channels could act as important turning points for the price. Just like with rising channels, the lower boundaries of a downward sloping channel act again as support levels, while the upper boundaries act as resistance levels for the price.

Channels are quite similar to trendlines, only that they include a second trendline which is drawn parallel to the first trendline. Round-Number Key Chart Levels: These levels form around round-number exchange rates, such as 1. The psychology of market participants shows that traders tend to place their market orders around round numbers, increasing the buying or selling pressure around those levels.

Dynamic Key Chart Levels: Last but not least, dynamic key chart levels change with each new price-tick. Not all support and resistance levels work the same or produce trade setups with equal probability of success. Higher timeframes are more reliable when it comes to trading key chart levels, because a larger number of market participants pays attention to those levels.

Pullbacks refer to a retest of a broken support or resistance line before the price continues in the direction of the breakout. Pullbacks work because support and resistance levels change their roles once broken. A broken support level becomes a resistance level, and a broken resistance level becomes a support level in future trading.

This is shown on the following chart. The horizontal level marked with point 1 acted as a support for the price at point 2. After the horizontal support was broken, the same line provided resistance for the price at points 3 and 4 , signalling potential short setups. They are used in finding uptrends and downtrends in the market by connecting higher lows in uptrends and lower highs in downtrends.

Again, try to focus on higher timeframes when using trendlines and channels in trend-following trading strategies, as market trends tend to be more predictable in the medium and long-term than on an intraday basis. Deutsche Bank published a great research paper on the Forex market and asked FX dealers to rate the predictability of market trends in the short, medium and long run. The table below shows the results:. Adapted from: Deutsche Bank Guide to Exchange Rate Determination As the table above shows, FX dealers believe that market trends are most predictable in the medium-term and long-term.

The majority of FX dealers Moving averages can act as a great support and resistance indicator. Moving averages are a technical indicator which takes the average price of the last n trading periods and plots it on the chart.

While simple moving averages give an equal weight to all trading periods included in their calculation, exponential moving averages give more importance to the most recent price-data. The following chart shows how period, period and period EMAs can work as dynamic support and resistance levels for the price. The day EMA is especially important and followed by a large number of traders.

Many retail traders focus on day trading, especially in the beginning of their career. Short timeframes such as the 5-minutes or minutes ones are often used by these traders to get the thrill that day trading provides.

That said, trading on such short timeframes can often lead to costly mistakes and the accumulation of losses. As Elder Alexander puts it in his famous book, Come Into My Trading Room ,. If trading is a thrill, then day-trading provides the best rush. It is a joy to recognise a pattern on your screen, put in an order, and watch the market explode in a stiff rise, stuffing thousands of dollars into your pockets.

A former military pilot said that day-trading was more exciting than sex or flying jet aircraft. To increase the likelihood of profitable trades, first mark key support and resistance levels on higher timeframes, such as the 4-hour and daily ones. After this, zoom-in to the minutes charts to trade on shorter-term support and resistance levels. Whenever the price reaches towards the longer-term, but the minutes chart sends an opposing trading signal, your best bet would be to stay away from trading.

Step 1: Open the currency pair that you want to analyse Step 2: Select the 4-hour or daily timeframe to draw key support and resistance levels first.

Step 3: Identify obvious swing highs and lows and draw a horizontal line on them. In the case of a price trending, use trendlines or channels to connect the highs or lows.

Step 4: Zoom-in to shorter-term timeframes and repeat step 3 to find entry and exit points, or keep trading from the longer-term timeframes to get trade signals with higher probabilities of success.

Many trend-following trading strategies rely on key chart levels to spot areas of major buying and selling pressure. This is done by using trendlines and channels. Learning the ins and outs of trading key chart levels is best achieved by studying financial trading , experience and screen time.

Support and resistance levels are a powerful concept in technical analysis. Many technical tools have been developed to take advantage of support and resistance levels….

So, you want to become a day trader and join the hundreds of thousands of day traders who are living in the UK? Then this…. Looking for a complete guide on how to trade double tops and bottoms in the Forex market?

Then look no further. Futures are a popular trading vehicle that derives its price from the underlying financial instrument. If you want to get your feet wet with futures…. Next: Step 2 of 4. Phillip Konchar December 11, Step by Step Guide to Forex Signals. Did you know? An exchange rate of 1. Learn more, take our free course: Pivot Points: Fast Track. How Do You Become a Professional Trader? Learn about Technical Analysis. Learn more, take our free course: How to Use Technical Indicators.

Longer-term timeframes, such as the daily or weekly, return higher-probability trade setups than shorter-term timeframe. What are Trailing Stops? What is Gapping? What Does Bet per Point Mean? Learn more, take our free course: Reversal Price Patterns. Categories: Skills. Phillip Konchar. Related Articles. Phillip Konchar December 6, Joe Bailey October 8, Phillip Konchar June 5, Phillip Konchar January 7, Phillip Konchar October 7, Request a Free Broker Consultation.

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Any research is provided for general information purposes and does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.

Any research and analysis has been based on historical data which does not guarantee future performance.

Shared and discussed trading strategies do not guarantee any return and My Trading Skills shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein. Trading on leveraged products may carry a high level of risk to your capital as prices may move rapidly against you.

Losses can exceed your deposits and you may be required to make further payments. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. Historical data does not guarantee future performance.

The most signficant levels will tend to breakout with some force when they are breached as entries and exits from many traders are triggered. Currencies with high liquidity have a ready market and therefore exhibit smooth and predictable price action in response to external events. This limit is determined to reduce the number of rejections when placing bigger orders. If trading is a thrill, then day-trading provides the best rush. You also have the option to opt-out of these cookies.

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