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Introduction

Trading tools are a critical component of forex trading as they act as an aid to decision making. Correct and consistent use of trading tools will lead to better strategies, better decision making and better interpretation of market conditions.
This article focuses on some of the trading tools that have been made available by the Dukascopy website. The main aim is to see how these function and how they can be of use in forex trading.
Getting to the trading tools.

The trading tools are available on the Dukascopy website, www.dukascopy.com under the market info section. Fig 1 shows the steps to the trading tools on the website.
Fig 1: Graphical representation of the steps to trading tools.
Step 1: Go to www.dukascopy.com
Step 2: Click on the market info section
Step 3: Select the required trading tool from the drop down menu of available trading tools.
Now we can discuss how some of the trading tools can be of assistance in the trading journey.
  • SWFX Sentiment Index
The SWFX Sentiment index is an excellent tool to gauge trader positioning and sentiment in the FX market. Unlike the major equities or futures markets, there is no single centralized exchange for f…
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Yonggi7 avatar
Yonggi7 30 Oct.

It's well done!

tangell avatar
tangell 30 Oct.

хорошая работа

DimaBLR avatar
DimaBLR 31 Oct.

well done!

tdbatinkov avatar
tdbatinkov 31 Oct.

good job

al_dcdemo avatar
al_dcdemo 10 Nov.

Very well done!

orto leave comments
24/44
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Hello everyone! My name is Harry from Indonesia. This is my first article, hope it can gives a little value for everyone. Every trader wants to be a consistently profitable trader. In order to achieve that, we try to improve our trading system to fit our personality, risk profile and also increase our winning chance. Maybe this Super Trend indicator can be alternative tool to profitable trade.
SUPER TREND FORMULA
After googling around, searching for Super Trend calculation, I found that Super Trend indicator using 4 variables : High, Low, ATR, and coefficient. The basic formula is :
Basic Upper band : (High + Low) / 2 + ATR x Coefficient
Basic Lower band : (High + Low) / 2 – ATR x Coefficient
TRADING RULE
Using Super Trend indicator is simple. You can clearly take position by seeing this chart. You can use it on any time frame. Example below using 1H chart.
BUY
Open Buy when price cross and close above the upper band
Close Buy when price cross and close below the lower band
SELL
Open Sell when price cross and close below the lower band
Close Sell when price cross and close above the upper band
THERE IS GOOD TIME, THERE IS BAD TIME
There is no perfect system or indicator. …
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vikyllya avatar
vikyllya 13 June

nice

FXNOAD avatar
FXNOAD 14 June

Very nice

hargun avatar
hargun 14 June

thank you :)

Yonggi7 avatar
Yonggi7 14 June

Yes It's really important !!!!! I wanted to know that also!! How to use indicators is very importnat in Trading!!!!

Yonggi7 avatar
Yonggi7 14 June

Congratulations my friend!

orto leave comments
2/76
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1.0: Purpose of this Series

The tags cloud below summarizes the abstract context of this series.

2.0: Purpose of this article

I found myself face-to-face with this mess.
An analogy with the optimal dynamic non-linear system I can think of was my decision. Therefore, this article is a conceptualization analogical argument.
Choose your favorite but remember we are determined to find a baseline: a bare minimum.
2.1: Building Custom Tradometers

Many online services offer you to build car's custom dashboard, so will we from scratch and build a catalog of options in each class.
2.1.1: Display Types
2.1.2: Display Units/Scales
2.1.3: GPS Navigation


2.1.3.1: Where?


2.1.3.2: When?

2.1.4: Speedometers

Speedometers measure velocity and hence displacement. See Veyron below.
The Veyron was actually a financial instrument, the elevation is now a bullish candle, and finally the start (open) was replaced by the previous stop (previous close) to include any gap-ups in this case.
Let's take an example of a market's momentum indicator to see what it measures to our previous findings.
2.1.5: Fuel Gauges

Without fuel, you are going nowhere, trading volumes are the fuel for any market mov…
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wisdom_consultant avatar

S61P01: Теперь, вызывающее одно, после проведения концептуальной базовой линии, думал, по той же причине кто-то предпочитает зондировать импульс двигателя или обороты в минуту.

wisdom_consultant avatar

S61P02: Когда  оборот / мин двигателя увеличивается, он потребляет больше топлива, поэтому прибор-х клещей / мин (ТРМ) означает больший объем.
Это была проверка концептуальной модели.

wisdom_consultant avatar

Приборная панель включает в себя индикаторы для обоих рынков – Денег и Капитала.
Затем показатели были организованы в цветовой кодировке Affinity Диаграммы.
Это лишь часть четырехсторонней приборной панели.
ЗАБУДЬТЕ ПОСЛЕДНЕЕ

wisdom_consultant avatar

S06P01: Аргумент из аналогии

wisdom_consultant avatar

S07P01: Открытия часто совершаются, не следуя инструкциям,
Сойдя с главной дороги,
пробуя неиспытанное ".
Франк Тайгер

orto leave comments
19/76
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It is very funny how some trends “sneak” past us simply because we are not looking at the right thing, or too engrossed in the wrong thing.
But there are so many markets to trade!!
So many opportunities to make money!!
While the above statements are true, in this business it is not effective to be a Jack-of-all and a master of none. Focus is essential for success during trading. Many trading blogs advise new traders to specialize in few particular pairs, because every pair is different and unique.
The Gbpjpy market does not move in the same way as the Eurgbp market. If we were to compare the volatility of both markets, we would discover that they are miles apart. So it is good to focus on the right pairs and the right trading tools; to get the most out of trading the forex market. This is the first lesson I learnt as a forex trader. The pairs I watch are the Eurusd, Gbpjpy, Eurjpy and Gbpusd.
For charting analysis, I have found that the four-hourly chart has the best representation of price movement, and that good entries can be taken off the hourly charts. You can trade off the four-hourly charts directly, but it is good to try and fine-tune trading entries.
My methodology in…
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Natalia_Kisenko avatar

good job!

orto leave comments
19/35
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If you have read some of my articles and/or comments, or watched the few webinars I've done, by now you probably know that I prefer a long term approach in my trading, and that I don't recommend day trading, especially to inexperienced traders. It is a known fact that most retails traders use short time frames, and they have the opinion that long term trading is riskier, so they stick to their intraday charts believing that they are taking less risk. And this myth of the supposed safety of intraday trading is repeated ad infinitum until almost everyone believes in it. However, that's what it really is: a myth, nothing more than that. _____________________________ ► Trading costs and slippage No matter how long you hold your positions for, there is a fixed cost that is the same in all situations: the spread. And then there are commissions based in your trading volumes and capital deposited (using Dukascopy's fee structure). Imagine that a currency pair has a total cost of 2 pips per order (spread + commissions). A day-trader will usually have small profit targets, lets say 20 pips. So he will pay 10% of his profits to the broker, and likewise his losses are also inflated by…
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OneGoodTrade avatar

You are so right SpecialFx. And some wonder why the day traders lose ...however there is a catch...the longer timeframe, the more difficult is to predict the prices. Great article.

Nicco avatar
Nicco 31 Jan.

Amazing...I understand (day)trading can't be a hobby or (day)trading is an expesive hobby!

Nicco avatar
Nicco 31 Jan.

I will print this paper!

belman avatar
belman 31 Jan.

Interesting. best of luck +1

doctortyby avatar
doctortyby 31 Jan.

I agree with the fact that technical analysis works better on the higher time frames (at least Daily), but there are also ups and downs for the intraweek, medium and long term trading too :)

orto leave comments
34/68
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Introduction to IndicatorsIn my last article i have introduced SMA indicator, but i don't talked about indicators themselves.  The word "Indicators" is defined by english dictionary as "an instrument wich gives you information". When someone get some interess or join the market world, indicators are the first thing they try to use to get some information about the markets. As a beginner, i have tried some of the indicators out there, putting all of them in my charts without much sucess as expected. One pitfall i think that occurs to all novice traders/investitors is relying on some indicator applied sucessfully by others over past time. We must know that indicators don't act same way to different situations.  One bias  when we beggan to use indicators is the lack of knowledge how the indicator works, how it get it's results and why we get that result. Here, in this article and the following ones, i will try to share what i find about  some indicators. With indicators we try to predict forward market evolution  taking as base past results of the market. We, as traders,  usually use some indicators as instruments to take our decisions about entry and exit actions. In trading…
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39/73
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“Neuroeconomics is an interdisciplinary field that seeks to explain human decision making the ability to process multiple alternatives and to choose an optimal course of action.” (Center for Neuroeconomics Study at Duke University, http://neuroeconomics.duke.edu/research/research2.html) When we start trading, no matter if it is a Demo or real money account, we spend several hours learning about the art of trading. We learn how to interpret charts, news and indicators. I think most of the traders know what are support and resistance lines, trend lines, overbought and oversold conditions, patterns like double tops and bottoms, candlestick patterns and other technical tools also how to trade those, we learn these things in our first 2 weeks or month we get involved with trading, that’s a fact. But, as time goes by we try to learn all things that we heard around and we assume that more knowledge will make us better traders. That affirmation is true, but we miss the real context around it. Some traders study them and many others for years and even though they are not profitable traders. Don’t misunderstand me; trading involves compression about everything mentioned before and more…
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Tingos318 avatar
Tingos318 24 Aug.

that's right, the afraid of losing money is natural and inevitable but what it's irrational is our perception about risk.

DaddyPapi avatar
DaddyPapi 24 Aug.

ok cool

LinnuxFX avatar
LinnuxFX 25 Aug.

Well done with this article, good luck for the contest ... vote for mine here : http://www.dukascopy.com/fxcomm/fx-article-contest/?action=read&article=How-To-Trade-Harmonics-&id=13

ritesh avatar
ritesh 26 Aug.

Your article is spot on buddy. Thanks for sharing the wonderful information. Waiting for more articles from you. +1 ;D)))))

ritesh avatar
ritesh 28 Aug.

check out my articles too at http://www.dukascopy.com/fxcomm/fx-article-contest/?action=blog&user=ritesh

orto leave comments
46/73
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In the previous sections we saw a presentation on the theoretical aspect of my two similar indicators ( NacerBFindex ) and ( NacerSFindex ) then we saw the behavior of these indicators.(see my articles:Price , Material Point...Laws In Commun Part1,Part2) In this section we discuss 'how to trading with these indicators' with examples of a positions ​​on my account (Trader Contest) : Blue indicator: NacerBFIndex (NPU) Red indicator:  NacerSFIndex (NPD) These indicators show three states of price: A: steady state when NPD=NPU=1 B: state of imbalance (max) caused by the SELLERS when     NPU<0 .618 (Blue indicator <0 .618) C: state of imbalance (max) caused by the BUYERS when       NPD<0 .618 (Red indicator      <0 .618) Our trading strategy is summarized by the following diagram:   The strategy is based on the idea that the price is oscillating and passes through three states: Steady state when the force of the buyers and sellers are equal Two states of imbalance when the ratio between the two forces pass below the golden level 0.616 Positions are open to Price from one state of imbalance (B or C ) to steady state (A) then the second state of imbalance .   LONG  In the first Picture : The Blue Indicator ' NacerBFIndex ' goes below the golden level: 0.618 (NPU<=0.618) The imbalance caused by sellers come to his area (max ), so is the state B   Stop Loss : usually it is the low of the candle which recorded (NPU <= 0618 ) ( SL ≈ 50 P ) Take Profit : usually it is the state A ( steady state) or ( ≈ 100) p, and we can follow the profile to the state C (NPD<=0.618) .  SHORT   In the next Pictures:  The Red Indicator ' NacerSFIndex ' goes below the golden level: 0.618 (NPD<=0.618) The imbalance caused by BUYERS come to his area (max ), so is the state C   Stop Loss : usually it is the low of the candle which recorded (NPD <= 0618 ) ( SL ≈ 50 P ) Take Profit : usually it is the state A ( steady state) or ( ≈ 100) p,and we can follow the profile to the state C (NPD<=0.618) .   Note: This Strategy is valid for all periods but with modification of SL and TP. EURUSD forecast: The medium -term vision is Pessimist, the trend is growing downward;
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DaddyPapi avatar
DaddyPapi 16 Aug.

how much do you use per trade in %..and whats your risk-reward on average?

Nacerdz avatar
Nacerdz 16 Aug.

percent utilization to 90% per trade, risk - récompence 1 / 2 usually

ritesh avatar
ritesh 28 Aug.

90% per trade! kewl +1 for ya dude

ritesh avatar
ritesh 28 Aug.

check out my articles too at http://www.dukascopy.com/fxcomm/fx-article-contest/?action=blog&user=ritesh

LinnuxFX avatar
LinnuxFX 28 Aug.

Keep going with more articles... See here profitable Trading Strategy http://tiny.cc/ps8pw

orto leave comments
38/73
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This is a trading system that I trade with. The goal is to profit 100 pips per day if market is favorable.  No one uses this system since it is a figment of my imagination.  I am not going to explain the indicators I use except how I use them. I am going to assume that everyone has an understanding of Forex.First thing I do in the morning is turn the news on.  I want to get the flavor of what could be the panic story of the day.  Debt seems to be the hot topic lately.  Since my grandfather told me once to believe nothing I hear and only half of what I see. I am cautious about what is said.  Nothing appears as it is because if we believe the market is going up then it will go down. Therefore, do not make forecast.  We are not the one pulling the strings.Let us get down to business.  After I have my coffee and listen to the news,  I scan the charts looking for the trend in the best pair to trade for the day.  After I pick the right one I pull the chart up and put it on the daily time frame.With a look at the chart I note if the trend has been up or down.  I will take trades in that direction only. Besides trend lines the only indicator I use is CCI.We will use the CCI to confirm the …
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ritesh avatar
ritesh 26 Aug.

Nice description. Thanks for describing your system. Keep on the good work sir. +1

LinnuxFX avatar
LinnuxFX 29 Aug.

Nice strategy, hope you made a lot of green pips with it, see mine here:http://tiny.cc/m74j4

Quant-Trader avatar

Maybe you plan new article ? :)

orto leave comments
44/73
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Hunters arrived, all the knights and gladiators to hunt down beasts.Hunt continues for many years the best everyone wants to hit it, everyone wants her trophy-TP.All daredevils pledge traps, ambushes, pennding order-not an easy task to catch the cunning beasts. They use a clever strategy, baits that fell into their trap.Drive, in the footsteps of the trail that leaves-candles - a long time, bodies, and sometimes reels, Doji. Beast does not remain indifferent to deceive, haunted, scheming. Sometimes long quietly plotting Be it hides formed.It has a large room for maneuver, great experience acquired over the years, great use of hiding behind dark clouds or having Harami, sometimes under the glow of the falling star is speeding somewhere.It's on the trail, you can see a chart of its victims - the hammer and the hangman.Hunt takes all chasing beasts rushing, Hunter examines the possibility of providing technical information, future course, the course of traffic using the tools plethora of beasts - the MACD, SAR, SRI ....Knights gather strength in the group, they build another ambush, hoping to quickly hunt down, grabs the trophy - TP.Gladiators are constantly in pursuit of the beast cu…
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ritesh avatar
ritesh 26 Aug.

Very well said. Most of people start trading with very less practice. They all should test the skills on Dukascopy Contest before burning rookie cash. +1 for the beast hunter ;)

ritesh avatar
ritesh 28 Aug.

check out my articles too at http://www.dukascopy.com/fxcomm/fx-article-contest/?action=blog&user=ritesh

LinnuxFX avatar
LinnuxFX 28 Aug.

You need more images to better anderstand, see my Strategy here : http://www.dukascopy.com/fxcomm/fx-article-contest/?action=read&article=How-To-Trade-Harmonics-&id=13

Quant-Trader avatar

Where are next articles? :)

orto leave comments
51/73
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In this second pass in practice (apply the theoretical concepts discussed in Part 1 to predict the price movement and then make the decision trading)4-Behavior of the forces’ indictor Based on the relationship (3) and (4), I realized two similar indicators (MQL4), which represent the ratio (Fa / Fv) resp (Fv / Fv) relative to a given period. In the following pictures a brief presentation of the indicator:Each point on the red curve represents the value of the ratio sellers force on buyers relatively to the period defined (in the example period =9), Each point on the blue curve represents the value of the ratio buyers force on sellers relatively to the period defined (in the example period =9). The continuous observation of the behavior of the indicator since its creation allows me to note the following remarks: - The indicator follows a movement (oscillation) around the levels whose values are based on the golden number (0.618). - The axis of the oscillating movement of the indicator is the level at 1.00 'equilibrium level'. - The new trend (direction) movement of the price only starts if a curve touches level 0.618 and the other curve touches…
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Nacerdz avatar
Nacerdz 13 Aug.

in the next section we will see how trading with indicators of forces

ritesh avatar
ritesh 28 Aug.

I love golden ratio. just curious, should't you should have used JForex for charting. +1 for ya buddy, check out my articles too ;)

orto leave comments