While most forex robots do ‘work’ in the sense that they are programmed to automatically carry out trades, unfortunately, they are not foolproof so they cannot provide any guarantee of long-term profits. At best, they are a useful tool which can be used by forex traders to help make informed trading decisions.
AI Voltex Review
Aside from user reviews, look for real-time usage on brokers – third party verification sites like myfxbook.com are a good way to see how they are performing.
Robots should be tested; using historical data to see how they are performing (known as backtesting) will show where they struggle to predict trends and where they perform well.
There are, of course, many scam products available online and avoiding these can seem difficult. Although every care has been taken to ensure the products we are listing are not scams, we can take no responsibility for any financial losses.
AI Voltex Setting
These are some of the robots that we think are the best in the industry for 2021. Suitable for use by beginners and experienced traders, they are available as instant downloads and all work with most brokers.
AI Voltex Setting is one a lot of Individuals are in search for, kindly send a mail to email@example.com to get the settings.
3 Ways to Boost Concentration While Trading
You can be highly motivated to trade, have abundant capital, and a dummy-proof trading system, but you can still encounter losses if you fail to concentrate.
Even had a hard time working in a crowded Starbucks or studying in a noisy library? It’s easy to concentrate when we are in a quiet room or when we feel calm and at ease, but the markets are often chaotic and trading can get stressful.
When you aren’t fully focused on your open positions and trading strategies, self-doubt can creep into your consciousness. You may start having second thoughts that can wind up sabotaging your trading efforts.
The more you can stay focused on your ongoing experience, the more you can trade effortlessly and skillfully. But how can you concentrate more easily?
1. Take good care of your health
First, it’s useful to remember that concentration takes psychological energy, and this supply of energy has limits. If you want to maintain your focus, you must be rested and relaxed.
Get proper sleep and nutrition. If you’re tired or hungry, you won’t be able to keep your mind focused on trading.
2. Be mindful of your stress levels
Second, it’s important to be conscious of your stress levels since this can deplete psychological energy.
The best way to limit stress is through risk management. If you know that you are doing your best to keep potential losses to a minimum, you’ll feel more comfortable and can focus most of your attention on trading.
3. Optimize your trading space
Now this is particularly applicable to those who are trading from home. Even if you are just starting out, you need to invest in a space that doesn’t involve trading from your bed or the same dining table that your kids just spilled their spaghetti on.
Since you’ll be dealing with the same markets that office traders are battling with, you’ll need to establish an OFFICE space. Make sure it doesn’t have too many distractions and that you have a fast internet connection and enough monitors for you to watch the charts and track the news.
Concentration is essential for profitable trading. The more you concentrate, the more you feel you are in control. And when you feel your body and mind are in sync with the markets, you’ll likely find it easier to trade consistently and profitably.
Chart Art: Range Support Plays for AUD/USD and GBP/CAD
Yo! You up for comdoll setups today?
If you are, then you can check out not one, but TWO range plays.
AUD/USD is giving us reverse head and shoulders vibes after hitting support at the .7700 major psychological handle on the 1-hour time frame.
A break above the “neckline” could lead to a retest of the .7750 mid-range levels. And if the upside breakout has momentum, we could see AUD/USD pop back up to the .7810 range resistance levels.
But wait! If you see the Aussie turning lower from the “neckline,” then you also gotta consider that AUD/USD could drop back to the .7700 support.
Whichever bias you end up trading today, make sure to use your best risk management strategy!
No, you’re not seeing double! Like in AUD/USD, GBP/CAD has also recently bounced from a range support, this time on a daily chart.
Think the pound bulls have enough momentum to push the pair to the .7180 mid-range levels? Stochastic hasn’t hit overbought status yet, so I’m thinking there’s a bit of buying opportunity left.
Buyers can wait for a break above the mid-range levels and then target the 1.7550 major resistance on the chart.
Not a fan of the pound? That’s alright, you can also wait and see if the consolidation that we’re seeing results in the pound going back down to its May lows in the next couple of days.
Bears can short at the first signs of bearish momentum and then aim for the 1.6880 previous low or the 1.6830 range lows.
Trade Watchlist: USD/CAD’s Trend Retracement
The U.S. is printing its closely-watched retail sales release today.
Do you think the report will extend the dollar’s weakness against the Loonie?
I don’t know if you were around during the U.S. session but Bank of Canada (BOC) Governor Macklem jawboned the Canadian dollar by saying that further gains would have “material impact” on their export and maybe growth projections.
It also didn’t help that prices of crude oil – one of Canada’s biggest exports – dipped as India’s coronavirus crisis deepened and a key U.S. pipeline resumed operations and eased the oil price spike that we saw earlier this week.
The Loonie weakness pushed USD/CAD up around 150 pips higher from its weekly lows. It’s now near the 1.2170 zone that lines up with the 200 SMA and a trend line resistance that’s been valid since late April.
Will today’s retail sales release extend the dollar’s losses against the Loonie? Word around is that we could see upside surprises with such a lowkey expectation and a strong CPI report.
If we see a much strong retail sales activity, then traders could worry about the added pressure on the Fed to ease their stimulus measures. Ditto for much weaker retail sales numbers, which could inspire risk aversion and push the safe-haven dollar higher across the board.
Meanwhile, so-so retail sales data could inspire risk appetite that would extend the Loonie’s rally against the dollar. Look out for a trip back to weekly lows or even new May lows in case we see enough momentum.
This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.
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