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Блог Трейдера На Форексе

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5 steps to becoming a successful Forex trader

What is Forex trading?

The foreign exchange market, also called Forex or FX for short, is the biggest financial market in the world, with a daily turnover of over $ five trillion. That is more than double the turnover of the New York Stock Exchange!

You can trade currencies 24 hours a day, from Monday morning in Tokyo to Friday night in New York and in more cities like Dubai, UAE. The international nature of currency trading means that there are always traders somewhere who are willing to buy or sell currencies. This creates continuous liquidity or "flow" in the market.

How to start trading Forex?

In order to start trading in the Forex market, you need to find a reputable online broker that offers an easy-to-use platform and competitive spreads. Once you have opened and funded your account, you can start trading currency pairs.

Why trade Forex?

Before we get into the nitty-gritty of becoming a successful Forex trader, let's touch on a few reasons you should consider trading first.

For starters, Forex trading is a great way to make money. It can be quite profitable if done correctly! Not to mention, it's a lot of fun and can sometimes be exciting.

Another reason to trade Forex is that it provides an opportunity to diversify your portfolio. If you're only investing in stocks and commodities, you're missing out on a whole other world of potential profits.

Finally, Forex trading is a great way to learn about different economies. By analyzing currency pairs, you can gain insights into how other countries perform economically. This can be helpful if you're planning on doing business in another country or traveling there in the future.

Now that we've gone over some of the reasons you should trade Forex, let's get into the five steps you need to take to become a successful trader.

Understand Forex market

To be a successful Forex trader, one must first and foremost understand how the Forex market works. This means having a firm grasp on concepts like currency pairs, interest rates, and global economics. If you don't have this understanding, you'll be at an extreme disadvantage from the start.

Get proper education

You can't just read a couple of articles on the internet and consider yourself educated in Forex trading. If you want to be successful, you need to get proper education from an accredited institution. There are many online courses available that can teach you the ins and outs of Forex trading.

Create a trading plan

A trading plan is like a roadmap that will guide you through your journey as a trader. It should include things like your goals, risk tolerance, and strategies. Having a plan will help keep you focused and disciplined, two essential qualities for any trader.

Start small

When starting out in Forex trading, it's important not to go all-in with your investment. You should start small and gradually increase your account size as you gain more experience. This will help minimize your losses and give you a better chance of success in the long run.

Choose a Reputable Online Broker

Not all online brokers are created equal. When choosing a broker, you should consider fees, spreads, and account minimums. It's also important to choose a broker that offers a platform that is easy to use and has all the features you need.

What are the benefits of Forex trading?

The Forex market is the largest financial market in the world, with a daily turnover of over $ five trillion. This means there is always liquidity in the market, which is ideal for traders.

Another benefit of Forex trading is that it's a hour market. This means you can trade whenever it's convenient for you, whether in the middle of the night or during lunchtime.

Finally, Forex trading offers immense profit opportunities. With proper education and risk management, making a lot of money trading currencies is possible.

In conclusion, these are the five steps you need to take to become a successful Forex trader. If you're willing to put in the work, you can reap the rewards of a lucrative and exciting career in Forex trading. If you want to be a part of this market and don&#;t know how to get started, then read on for our five essential steps that will guide you towards success.

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Step 1

Challenge

We keep our challenge as simple as possible so you can focus on your trades. UNLIMITED Virtual Maximum trading days and 0 virtual minimum trading days, you advance as soon as you complete the trading objectives below!

Step 2

Verification

Take your time with UNLIMITED Virtual Maximum trading days and 0 virtual minimum trading days! Once the trading objectives are completed, you will automatically be upgraded to a fully virtual funded account!

Step 3

Smart Prop Trader

Now you're a fully funded Smart Prop Trader, congratulations! Continue to trade consistently and responsibly to qualify for up to a 90% profit split with virtual account scaling up to $ Million!

Challenges

Choose Your Account

By meeting the Trading Objectives, you will have the chance to be an SPT trader.

Step 1

Profit Target

The profit target on the 1 phase, step 1 assessment is set at 7%.

Step 2

Profit Target

The profit target on the 2 phase, step 2 assessment is set at 5%.

Virtual Daily Loss Limit

Virtual Daily Loss is fixed and based on the initial balance. That number is subtracted from equity or balance, whatever starts the day greater!

Virtual Maximum Loss

Virtual Maximum loss is static and calculated on initial Balance. The account can only be breached due to Virtual Maximum Loss if the account's balance or equity goes below (8%).

Drawdown Type

Static Drawdown: When you open the account, your max drawdown is set at 8% of your starting balance. This will be static for the life of the account. The daily drawdown amount is always fixed at 4% of the initial balance or account size purchased. The maximum daily drawdown on the account (which consists of the account’s current result of opened positions and the result of positions closed on the given day) is calculated based on the balance or equity, whichever is greater, when the day changes at 5 pm EST.

Minimum Trading Days

At Smart Prop Trader, there is no minimum simulated trading days for both challenge phases! You are able to pass and move to further phases as quickly as you're able to reach the profit goal. Processing time is kept to a minimum, a trader should be able to receive funding in as little as 1 day!

Profit Split

The default payout ratio for all Smart Prop Trader Traders is set to , however, an 85% share is not where we draw the line. If you meet the conditions of our Scaling Plan, not only do we increase the balance of your Smart Prop Trader Virtual Account by 25%, the payout ratio will also automatically change to a staggering !

Leverage

Trade with up to leverage for simulated forex instruments.

Refundable Fee

The fee is reimbursed to you with the first Profit Split when you become a Smart Prop Trader.

Step 1

Profit Target

The profit target on the 1 phase, step 1 assessment is set at 7%.

Step 2

Profit Target

The profit target on the 2 phase, step 2 assessment is set at 5%.

Virtual Daily Loss Limit

Virtual Daily Loss is fixed and based on the initial balance. That number is subtracted from equity or balance, whatever starts the day greater!

Virtual Maximum Loss

Virtual Maximum loss is static and calculated on initial Balance. The account can only be breached due to Virtual Maximum Loss if the account's balance or equity goes below (8%).

Drawdown Type

Static Drawdown: When you open the account, your max drawdown is set at 8% of your starting balance. This will be static for the life of the account. The daily drawdown amount is always fixed at 4% of the initial balance or account size purchased. The maximum daily drawdown on the account (which consists of the account’s current result of opened positions and the result of positions closed on the given day) is calculated based on the balance or equity, whichever is greater, when the day changes at 5 pm EST.

Minimum Trading Days

At Smart Prop Trader, there is no minimum simulated trading days for both challenge phases! You are able to pass and move to further phases as quickly as you're able to reach the profit goal. Processing time is kept to a minimum, a trader should be able to receive funding in as little as 1 day!

Profit Split

The default payout ratio for all Smart Prop Trader Traders is set to , however, an 85% share is not where we draw the line. If you meet the conditions of our Scaling Plan, not only do we increase the balance of your Smart Prop Trader Virtual Account by 25%, the payout ratio will also automatically change to a staggering !

Leverage

Trade with up to leverage for simulated forex instruments.

Refundable Fee

The fee is reimbursed to you with the first Profit Split when you become a Smart Prop Trader.

Step 1

Profit Target

The profit target on the 1 phase, step 1 assessment is set at 7%.

Step 2

Profit Target

The profit target on the 2 phase, step 2 assessment is set at 5%.

Virtual Daily Loss Limit

Virtual Daily Loss is fixed and based on the initial balance. That number is subtracted from equity or balance, whatever starts the day greater!

Virtual Maximum Loss

Virtual Maximum loss is static and calculated on initial Balance. The account can only be breached due to Virtual Maximum Loss if the account's balance or equity goes below (8%).

Drawdown Type

Static Drawdown: When you open the account, your max drawdown is set at 8% of your starting balance. This will be static for the life of the account. The daily drawdown amount is always fixed at 4% of the initial balance or account size purchased. The maximum daily drawdown on the account (which consists of the account’s current result of opened positions and the result of positions closed on the given day) is calculated based on the balance or equity, whichever is greater, when the day changes at 5 pm EST.

Minimum Trading Days

At Smart Prop Trader, there is no minimum simulated trading days for both challenge phases! You are able to pass and move to further phases as quickly as you're able to reach the profit goal. Processing time is kept to a minimum, a trader should be able to receive funding in as little as 1 day!

Profit Split

The default payout ratio for all Smart Prop Trader Traders is set to , however, an 85% share is not where we draw the line. If you meet the conditions of our Scaling Plan, not only do we increase the balance of your Smart Prop Trader Virtual Account by 25%, the payout ratio will also automatically change to a staggering !

Leverage

Trade with up to leverage for simulated forex instruments.

Refundable Fee

The fee is reimbursed to you with the first Profit Split when you become a Smart Prop Trader.

Step 1

Profit Target

The profit target on the 1 phase, step 1 assessment is set at 7%.

Step 2

Profit Target

The profit target on the 2 phase, step 2 assessment is set at 5%.

Virtual Daily Loss Limit

Virtual Daily Loss is fixed and based on the initial balance. That number is subtracted from equity or balance, whatever starts the day greater!

Virtual Maximum Loss

Virtual Maximum loss is static and calculated on initial Balance. The account can only be breached due to Virtual Maximum Loss if the account's balance or equity goes below (8%).

Drawdown Type

Static Drawdown: When you open the account, your max drawdown is set at 8% of your starting balance. This will be static for the life of the account. The daily drawdown amount is always fixed at 4% of the initial balance or account size purchased. The maximum daily drawdown on the account (which consists of the account’s current result of opened positions and the result of positions closed on the given day) is calculated based on the balance or equity, whichever is greater, when the day changes at 5 pm EST.

Minimum Trading Days

At Smart Prop Trader, there is no minimum simulated trading days for both challenge phases! You are able to pass and move to further phases as quickly as you're able to reach the profit goal. Processing time is kept to a minimum, a trader should be able to receive funding in as little as 1 day!

Profit Split

The default payout ratio for all Smart Prop Trader Traders is set to , however, an 85% share is not where we draw the line. If you meet the conditions of our Scaling Plan, not only do we increase the balance of your Smart Prop Trader Virtual Account by 25%, the payout ratio will also automatically change to a staggering !

Leverage

Trade with up to leverage for simulated forex instruments.

Refundable Fee

The fee is reimbursed to you with the first Profit Split when you become a Smart Prop Trader.

Step 1

Profit Target

The profit target on the 1 phase, step 1 assessment is set at 7%.

Step 2

Profit Target

The profit target on the 2 phase, step 2 assessment is set at 5%.

Virtual Daily Loss Limit

Virtual Daily Loss is fixed and based on the initial balance. That number is subtracted from equity or balance, whatever starts the day greater!

Virtual Maximum Loss

Virtual Maximum loss is static and calculated on initial Balance. The account can only be breached due to Virtual Maximum Loss if the account's balance or equity goes below (8%).

Drawdown Type

Static Drawdown: When you open the account, your max drawdown is set at 8% of your starting balance. This will be static for the life of the account. The daily drawdown amount is always fixed at 4% of the initial balance or account size purchased. The maximum daily drawdown on the account (which consists of the account’s current result of opened positions and the result of positions closed on the given day) is calculated based on the balance or equity, whichever is greater, when the day changes at 5 pm EST.

Minimum Trading Days

At Smart Prop Trader, there is no minimum simulated trading days for both challenge phases! You are able to pass and move to further phases as quickly as you're able to reach the profit goal. Processing time is kept to a minimum, a trader should be able to receive funding in as little as 1 day!

Profit Split

The default payout ratio for all Smart Prop Trader Traders is set to , however, an 85% share is not where we draw the line. If you meet the conditions of our Scaling Plan, not only do we increase the balance of your Smart Prop Trader Virtual Account by 25%, the payout ratio will also automatically change to a staggering !

Leverage

Trade with up to leverage for simulated forex instruments.

Refundable Fee

The fee is reimbursed to you with the first Profit Split when you become a Smart Prop Trader.

$10,

$25,

$50,

$,

Step 1

Profit Target

$(7%)

$1, (7%)

$3,(7%)

$7, (7%)

$14, (7%)

The profit target on the 1 phase, step 1 assessment is set at 7%.

Step 2

Profit Target

$ (5%)

$1, (5%)

$2, (5%)

$5, (5%)

$10, (5%)

The profit target on the 2 phase, step 2 assessment is set at 5%.

Virtual Daily Loss Limit

$

$1,

$2,

$4,

$8,

Virtual Daily Loss is fixed and based on the initial balance. That number is subtracted from equity or balance, whatever starts the day greater!

Virtual Maximum Loss

$

$2,

$4,

$8,

$16,

Virtual Maximum loss is static and calculated on initial Balance. On a $, account, the account can only be breached due to Virtual Maximum Loss if the account's balance or equity goes below $, (8%)

Drawdown Type

Static Drawdown: When you open the account, your max drawdown is set at 8% of your starting balance. This will be static for the life of the account. The daily drawdown amount is always fixed at 4% of the initial balance or account size purchased. The maximum daily drawdown on the account (which consists of the account’s current result of opened positions and the result of positions closed on the given day) is calculated based on the balance or equity, whichever is greater, when the day changes at 5 pm EST.

Minimum Trading Days

At Smart Prop Trader, there is no minimum simulated trading days for both challenge phases! You are able to pass and move to further phases as quickly as you're able to reach the profit goal. Processing time is kept to a minimum, a trader should be able to receive funding in as little as 1 day!

Profit Split

Starting 85%, Scaling up to 90%

The default payout ratio for all Smart Prop Trader Traders is set to , however, an 85% share is not where we draw the line. If you meet the conditions of our Scaling Plan, not only do we increase the balance of your Smart Prop Trader Virtual Account by 25%, the payout ratio will also automatically change to a staggering !

Leverage

Trade with up to leverage for simulated forex instruments.

Refundable Fee

The fee is reimbursed to you with the first Profit Split when you become a Smart Prop Trader.

Perks

Everything In One Place

See all the ways that we can help you.

Fair Evaluation

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All trading styles

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All trading instruments

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Forex

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Crypto

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Indices

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Commodities

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See Why Traders choose Smart Prop Trader as their prop firm of choice.

Your Virtual Account

First, choose the Smart Prop Trader Virtual Account size that perfectly suits your trading style and needs. Smart Prop Trader Virtual Accounts have no restrictions on holding positions over the weekend or trading during macroeconomic news releases.

Scaling Plan

Our goal is for long-term business relationships with you. If you manage to be consistent and profitable, we will increase the balance of your Smart Prop Trader Virtual Account by 25% every 3 months according to the Scaling Plan. We will further increase your Max draw by 2% every 3 months.

Free Account

If you are still not sure if this is for you, you have the option to try the process completely for free. The Free virtual account is a shortened version of the Smart Prop Trader Challenge with the same trading conditions.

Payouts

Payout System

The default payout ratio for all Smart Prop Trader Traders is set to , however, an 85% share is not where we draw the line. If you meet the conditions of our Scaling Plan, not only do we increase the balance of your Smart Prop Trader Virtual Account by 25%, the payout ratio will also automatically change to a staggering !
All Smart Prop Trader Traders can request payout on-demand. The payout can be processed just after 12 days, but you also have the ability to choose your own Virtual Profit Split Day, which can be even changed up to three times. In conclusion, we make sure that you will always receive your withdrawal on your most convenient day.

Compare

Compare Your Choices

Make the Smart Choice when it comes to choosing your prop firm.

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Books every Forex Trader should Read

Books every Forex Trader should Read

Introduction

Trading books are a source of knowledge for traders of all levels, beginners, amateurs, and professionals. The volumes primarily relate to a particular topic and cover it in detail. These publications are made by various noted participants who have faced significant hurdles within the financial markets yet have come out strong. After combining all their information sincerely and concisely, they now present it to the public. A few of these stand out amongst the others and are recommended by every mentor for their students.

Benefits of trading books

Before diving into the best trading books of the time, let us discuss some of the key advantages of reading them:

Top trading books

An abundance of excellent trading books provide excellent knowledge on almost all topics of the financial industry.

Trading in the Zone by Mark Douglas

This master book on trading psychology was published in by Mark Douglas. The markets regard Mark as one of the best teachers in teaching traders how to develop great confidence and a strong mindset. His publication forces a trader to look in the mirror and answer questions about his trading activity with pure truth. If there any psychological hurdles in the way of your success, then Trading in the Zone is the perfect read, as you can fix them with the mind hacks contained within. The book is an ideal option for beginners and amateurs who believe the best strategy is enough to win in the markets.

Market Wizards by Jack eunic-brussels.eur

The futures analyst Jack D. Swanger's Market Wizards covers interviews from top traders such as Paul Tudor Jones, Ed Seykota, and 14 more in one of the top trading books of all time. Reading and rereading about the trading journey and execution strategies of the best the industry offers will undoubtedly change your approach towards the market for the positive. The book still holds its relevance even after 31 years have passed since its publication, as the market principles and the core values remain the same.

Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy

John J. Murphy shifts his focus from futures to all financial markets, providing information on technical analysis, computer tools, and indicators. The second edition of the read covers aspects of reading candlestick charts, gives examples, and shows intermarket relationships, making it perfect for anyone looking to improve their technical skills in market reading. The publication easily makes its way into the top 10 technical analysis books.

The Intelligent Investor by Benjamin Graham

A perfect read for anyone looking to increase their value investing skills. The best investment advisor, Benjamin Graham, advises investors on how to shield themselves from potential errors and teaches them long-term strategies. These have proved their value over and over again since He also provides knowledge on determining the intrinsic value of an asset and placing your positions accurately as the market takes off. Warren Buffet regards it as one of his favorite books that taught him stock trading.

How to Day Trade for a Living: A Beginner’s Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz

This guide to day trading is efficiently compiled by Andrew Aziz, where he elaborates on important fundamentals, strategies, and investment guides in one of the greatest trading book ever written. The book primarily caters to the needs of beginners who are new to this concept. The overall short length makes it easy to read as the reader doesn’t lose his attention in the middle. Intermediate traders can jump ahead to chapter 7, which explains advanced strategies. Each game plan comes with useful information on stop loss, take profit, indicators, and stock hunting.

Trade Your Way to Financial Freedom by Van eunic-brussels.eu

The holy grail of information gives traders a lot of advice and ideas related to financial markets to develop their trading methodology. It covers everything from interviews, charts, and risk-reward analyses. In the second edition of his book, Van eunic-brussels.eu also features his 17 step trading model.

About Forex Copier

Forex Copier is an automated software that helps you copy your trades on the same or different PCs. It has two versions:

The copy trading software has many valuable features, including lot/risk management, price adjustments, order filtering, tweaking SL/TP, and emergency stops to help you get an easy edge in the industry. It is possible to diversify your trading accounts and brokers by distributing your equity over several portfolios and using the auto trade copier to copy positions from one account to all of the others. You can also choose to sell subscriptions to your signals and EAs to investors worldwide, with or without access to their login credentials.

The scope here is unlimited, as the Forex Copier can help gurus in teaching by sharing their executions. For traders on a losing streak, the mirror trading software offers a reverse mode that turns all incoming buys into sales and vice versa with modifications of the exit and entry points.

Axi is a trading name of AxiTrader Limited (AxiTrader), which is incorporated in St Vincent and the Grenadines, number BC by the Registrar of International Business Companies, and registered by the Financial Services Authority, and whose address is Suite , Griffith Corporate Centre, PO Box , Beachmont Kingstown, St Vincent and the Grenadines.

AxiTrader is % owned by AxiCorp Financial Services Pty Ltd, a company incorporated in Australia (ACN ). Over-the-counter derivatives are complex instruments and come with a high risk of losing substantially more than your initial investment rapidly due to leverage. You should consider whether you understand how over-the-counter derivatives work and whether you can afford to take the high level of risk to your capital. Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors.

When acquiring our derivative products you have no entitlement, right or obligation to the underlying financial asset. AxiTrader is not a financial adviser and all services are provided on an execution only basis. Information is of a general nature only and does not consider your financial objectives, needs or personal circumstances. Important legal documents in relation to our products and services are available on our website. You should read and understand these documents before applying for any AxiTrader products or services and obtain independent professional advice as necessary.

AxiTrader Limited is a member of The Financial Commission, an international organization engaged in the resolution of disputes within the financial services industry in the Forex market.

The information on this website is not intended for Australian and New Zealand residents.

ICT Basics: A Beginners Guide

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One of the most popular trading philosophies out there today is the ICT methodology. Short for Inner Circle Trader, and utilized by many in The Stratcommunity, this style of trading is purely based on price actionand incorporates little to no use of trend following or momentum eunic-brussels.eu this article, we&#;ll go over the basic concepts of the ICT methodology so that you can begin to understand how to utilize it in your trading as well as provide many powerful scans that can be downloaded into your TrendSpideraccount for free! Let&#;s jump in.

The ICT trading methodology consists of some key concepts that every trader must know in order to take advantage of trading in this style. In the sections below, we&#;ll discuss the key takeaways as well as show how to utilize some of these concepts within the TrendSpider platform.

Liquidity

Liquidity is the first, and arguably the most important concept within the ICT trading methodology. There are two types of liquidity; Buy-side and sell-side. Buy-side liquidity represents a level on the chart where short sellers will have their stops positioned. Sell-side liquidity is just the opposite. It represents a level on the chart where long-biased traders will place their stops. In both cases, these levels are often found at or near extremes as the tops and bottoms of ranges are often viewed as areas where traders are &#;proven wrong&#; and, therefore, will want to get out of their trades.

This is an image that shows buy side and sell side liquidity on a chart.
&#;Smart money&#; players understand the nature of this concept and commonly will accumulate or distribute positions near levels where many stops reside. It is, in part, the sheer amount of stops at key levels that allow a larger player to fully realize their position. Once the level at which many stops are placed has been traded through, it&#;s often that the price will reverse course and head in the opposite direction, seeking liquidity at the opposite extreme.

Displacement

Displacement, in short, is a very powerful move in price action resulting in strong selling or buying pressure. Generally speaking, displacement will appear as a single or a group of candles that are all positioned in the same direction. These candles typically have large real bodies and very short wicks, suggesting very little disagreement between buyers and sellers.

This is an image that shows displacement on a chart.
Often, a displacement will occur just after a liquidity level has been breached and will often result in the creation of both a Fair Value Gap and a Market Structure Shift.

Download these free Displacement scans today!

Click this to download the bullish displacement scan.
Click this down download the bearish displacement scan.

Market Structure Shift

As many traders know, the basics of trend say that in an uptrend, the price is making higher highs and higher lows and in a downtrend, the price is making lower highs and lower lows. A market structure shift is represented by a level on the chart where the previous trend is broken. If the price is in an uptrend, the market structure shift level is where a lower low is made. If the price is in a downtrend, the market structure shift level is generally going to be at a point where a higher high is made. In both cases, market structure shifts tend to occur on the heels of a displacement.

This is an image of a market structure shift on a chart.
Once the price has traded through a market structure shift level, a savvy trader will begin to look for further signs that the trend has, in fact, changed, using the market structure shift level as a level to trade off of.

Inducement

Rarely does the price move in a straight line. Within a larger trend, there are almost always counter-trend moves. These counter-trend moves are the results of lower time frame liquidity hunting. The price will bounce or get rejected and then will target a previous short-term high or low before continuing in the same direction as the longer-term trend. Inducement is specifically the targeting of these short-term highs or lows as areas where stops might be placed.

This is an image of Inducement on a chart.
As we know, liquidity lies where an influx of stops are located, and once those stops are taken out, the price can continue in the direction it was previously going. For traders who are used to utilizing chart patterns, Inducement can be seen in the formation of bull and bear flags.

Download these free Inducement scans today! 

Click here to download a bullish inducement scan.
Click here to download a bearish inducement scan.

Fair Value Gap

After the price reaches a liquidity level and then reverses, what will often come next is Displacement. Fair Value Gaps are created within this displacement and are defined as instances in which there are inefficiencies, or imbalances, in the market. These imbalances are visualized on the chart by a three-candle sequence containing one large middle candle whose bordering candles&#; upper and lower wicks do not overlap.

This is an image of Fair Value Gaps on a chart.
Many traders are interested in Fair Value Gaps because they can become magnets for price in future price action.

Download these free Fair Value Gap scans today! 

Click this to download the bullish fair value gap scanner.Click this to download the bearish Fair Value Gap scanner.

Optimal Trade Entry

Optimal Trade Entries are just that; They represent the best places to get into a trade and they can be identified by utilizing the Fibonacci drawing tool. In most cases, an optimal trade entry will lie somewhere between the % and % retracement of an expansion range.

This is an image of an Optimal Trade Entry on a chart.
After a Market Structure Shift occurs and a new leg of price action is formed, the bounce that follows the new leg will often yield an opportunity to take a position in the direction of the new leg and these Fibonacci retracement levels can be used to identify where that position should be taken.

Balanced Price Range

A Balanced Price Range is the result of an aggressive move up that&#;s immediately followed by an aggressive move down or an aggressive move down that&#;s immediately followed by an aggressive move up. What&#;s left after either of these instances is essentially a double Fair Value Gap which can act as a magnet to the price before a continuation move higher or lower.

This is an image of a Balanced Price Range on a chart.
Balanced Price Ranges can sometimes signal the beginning of a Market Structure Shift, and the price can often retest and reject from these areas.

Fair Value Gap Indicator

TrendSpider offers auto-discovery of Fair Value Gaps for all of its users via the &#;Fair Value Gap&#; indicator. In order to access it, click on the three dots next to the &#;Indicators&#; button in the top toolbar.

This image shows the Fair Value Gap indicator and it's editable parameters

The &#;Gap Factor&#; value will determine the size of the Fair Value Gap and it is preset to a value of &#;1&#;. In order for the indicator to highlight smaller Fair Value Gaps, simply utilize a decimal value. In the image below, a Gap Factor of was used to achieve greater granularity and discover smaller Fair Value Gaps that exist on the chart. A common practice amongst users is to utilize the horizontal line drawing tool and set alerts at important Fair Value Gap levels.

This is an image of a gap detector on a chart.

Fractal Trendlines And Broadening Range Patterns

The Fractal Trendlines indicator has many uses, but one of the best ways to implement it is via the scanner.

This is an image of the available shared scanners that look for broadening range conditions.

Within the scanner, TrendSpider users can utilize the shared &#;Broadening Range&#; scanners to find instances where the price is trading near the top or bottom of the range. Traders hunting for tickers whose price is near a Liquidity level might find this functionality particularly helpful!

This is an image of the fractal trendlines indicator identifying a broadening range.

Traders can also utilize the auto-chart pattern recognition tool to easily find and scan for Broadening Range patterns.

The platform is able to automatically identify every style of Broadening pattern, including ascending, asymmetrical, descending, right-angle ascending, right-angle descending, and symmetrical broadening patterns.

Auto Fibonacci Drawing Tool

Determining where and how to draw a Fibonacci sequence can be tricky, which is why one of the most popular &#;Auto-analysis&#; tools on the TrendSpider platform is the Auto-Fib drawing tool. To utilize this tool, simply click on the &#;Auto Fib&#; button in your top toolbar and a Fibonacci sequence will be drawn on the most recently completed move per the time frame selected.

This is an image of the auto fib button in the top toolbar of TrendSpider.

In order to get the most up-to-date measurement, do be sure to click the refresh button in the top left corner of your chart view. By clicking refresh, all auto-analysis tools will be updated to include the most current candle.

Though the concepts might be a bit foreign to traders who are used to a more traditional technical analysis approach, there is a reason that the ICT methodology has become so popular. At their core, markets are built off of price action and trend, and important levels can play a big role in where and why the price reverses.

If you&#;d like to learn more about these concepts, take some time to watch the below video that we put together with our friend, Trade For Opportunity. In the video, he highlights all of the concepts discussed above, as well as shows examples of each concept occurring on the chart.

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