Well, well. I had to look up this term "Pareidolia." The dictionary says it means: "the perception of a recognizable image or meaningful pattern where none exists or is intended, as the perception of a face in the surface of the moon." Incidentally, ...

The biggest lie about divergence in trading

So true. It hardly ever fails, especially with a slanting middle Bollinger Band. I don't know why it is called "Hidden" divergence when it is so plain to see. I think a better term is "Reverse Divergence."

The biggest lie about divergence in trading

I second that. I have found that divergence and hidden divergence are powerful signs about change of direction of market movements, but they need to be used along with other tools. A lessened momentum (using any type of oscillator) with regular ...

The biggest lie about divergence in trading

Try Tickmill. They have GBPZAR on their symbols list.

Which broker provides an MT4 demo account for GBPZAR?

Every weekend, I calculate 20 day average trading range (daily high minus low) of 28 pairs. This data, along with the margin required and tickvalue of each pair, gives me the best 6 pairs to trade next week, that will give the most return on ...

How do you choose what to trade?

All my best wishes for you CosmasMoses.

Never get rich trading forex

Success in trading is a long and hard road, but a journey which is very well worth it. Near the end of your journey, I don't think you will be much concerned about how much money you are raking in, because you will be able to create as much as you ...

Never get rich trading forex

Why would one want to get rich like Soros? Why not get rich like oneself? Any limitations on richness are self-imposed.

Never get rich trading forex

I don't think a single indicator is going to deliver the goods. What you probably need is a combination of indicators avoiding multi-collinearity (multiple counting of the same information). You could probably take one indicator from the three types ...

What's your favorite indicator and how do you use it?

Binary options is much simpler than regular forex trading, but with higher risks, that is for sure. To succeed in binary options, you have to be really good in your analysis of the market. Anything less than 75-80% winning ratio is dicey (depending ...

MT4 Binary Options Broker

Hi zamanib, Binary options trades are not put on MT4. Most binary option brokers offer a web platform. I am using Binary.com. No complaints so far. Good payouts (sometimes more than 100%, whereas most other binary option brokers offer 72-85%). Fast ...

MT4 Binary Options Broker

As far as my own observations of the market over the last decade or so are concerned, I think prices do follow some laws not dissimilar to Newton's laws. Yes, there are some continuing forces acting upon prices, otherwise they will stay the same. ...

Does it make sense to think of price movement in this way?

If you would like to sound pompous, you could say, "Well, I am a liquidity provider!" That's what basically we all traders are.

What's the job title when working as a retail forex trader?

Hi Aicccia, Volatility in itself is neither good nor bad. It just IS. And if we can confront it as one of the truths of the market, we don't need to avoid it or try to reduce it. The closer we are to the truth of a situation, the better we can ...

Methods for reducing the volatility of forex?

Wow!! 64 posts in 15 hours! Obviously a very emotional topic -- someone intending to quit the game.

I plan to quit forex!

A few years ago when I was struggling with forex trading, I read somewhere that it takes seven years to make a successful trader. Like any other profession, it takes lots of study and experience to become proficient. But once you become consistently ...

I plan to quit forex!

Great work profitkeeper. Pass!! Very Well Done.

A new look at Wolf Waves

Hi profitkeeper, Hahaha. I love the name you have given to these offbeat Wolfe Waves. Great work if you picked those 50 odd pips on GBPJPY.

A new look at Wolf Waves

Correction. Point 3 and 5 are higher highs or lower lows after point1. In your GBPJPY chart point 3 is slightly lower than point 1. This one is probably a failed breakout of a flag pattern, which is pretty rare as flags are continuation patterns.

A new look at Wolf Waves