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EAVN Blog

The Path to be a Successful Trader

Every single day, countless individuals are launching their career in day trading. They join chatrooms, participate in various classes, and start trading in real accounts or simulators. They enter day trading with all kinds of different expectations. Let’s deal with one that I encounter often. People will say to me, “Oh, okay, I’ll become a full-time trader, and I can make a living out of that. I’ll have financial freedom and become independent and be able to quit my job.” Unfortunately, that is not very likely to happen very early in their trading career. Of course, it’s possible for anyone after three months of training and study to become a full-time trader. That’s the easy part. But if you want to actually make a living out of trading, preferably while lounging in a beach house on the Caribbean and sipping tall cool drinks, that outcome is highly unlikely. I’m always…    read more 

What is your trading Style ?

November 27, 2021 |

There are two styles of trading: discretionary and mechanical systems based. Discretionary traders Discretionary traders evaluate potential trades based on their trading plan, using technical analysis to determine if each trade meets their requirements. Although the discretionary trader’s rules are known, the trader decides to take or pass on trades based on their experience. The discretionary trader doesn’t follow a firm algorithm of entries and exits. Instead, they weigh all available information, and then make a call. Mechanical systems Mechanical systems, on the other hand, are trading strategies that a computer program can execute. The mechanical system is often based on technical inputs such as price and indicators. The strategies are usually programmed into a computer software program that can backtest them on historical market data to determine if they produce positive expectancy: namely, if they produce higher profits than losses over the long term and in comparison to the…    read more 

Forex Market

MY FAVORITE TOP 10 TRADING THOUGHTS

November 26, 2021 |

Based on my own experiences as a trader and on conversations with many top analysts and traders on my radio program and elsewhere, here is a top-10 list of observations I would like to pass along to you after 23 years in the trading business. You may recognize some of these thoughts as market clichés, but they have stood the test of time and should be helpful for you as well. You only have three choices when you are in a bad position, and it is not hard to figure out what to do: (1) Get out, (2) double up, or (3) spread it off. I have always found getting out to be the best of all three choices. No opinion on the market or you are doubtful about market direction? Then stay out. Remember, when in doubt, stay out. Don’t ever let anyone know how big your wallet is,…    read more 

forex ea

Why do we need to use Forex EA to trade

November 22, 2021 |

We all know that we do not need any forex expertise to use any forex robot. We just need to obtain the robot and run to our account. That is simple! The robot will mechanically produce profits on behalf of you. But a profitable forex robot is not simple to find. Today, you can test one of the best Forex EA that works in any broker account. We advise testing your demo account after downloading it. After you attach an EA to a chart on your MT4 platform, the forex professional advisor will analyze market situations and use them to advise you on trades to make. It uses different conditions and factors to draw conclusions about the directions a market will go. Advantages of a Forex EA A Forex EA is quicker A Forex EA can perform the needful to find trades with best prospects in seconds. This contains surveying…    read more 

Knowing The Forex Market

Trend-Following Systems

November 27, 2021 |

By definition, trend-following systems never sell near the high or buy near the low, because a meaningful opposite price move is required to signal a trade. Thus, in using this type of system, the trader will always miss the first part of a price move and may surrender a significant portion of profits before an opposite signal is received (assuming the system is always in the market). There is a basic trade-off involved in the choice of the sensitivity, or speed, of a trend-following system. A sensitive system, which responds quickly to signs of a trend reversal, will tend to maximize profits on valid signals, but it will also generate far more false signals. A nonsensitive, or slow, system will reflect the reverse set of characteristics. Many traders become obsessed with trying to catch every market wiggle. Such a predilection leads them toward faster and faster trend-following systems. Although in…    read more 

Which Is The Best Forex EA To Use?

November 22, 2021 |

If you’re looking to make more money in the currency markets, you’ll want to consider the top three Forex EA’s as a guide to picking out the best ones. They are the MegaDroid, FAP Turbo, and Forex MegaDroid. These are also the top rated Forex EA’s at this time. The reason why they are at the top of the list is because they have all been proven to make money consistently. Let’s take a closer look at these Forex EA’s and see which one can best meet your needs. Forex EAs are software programs which are designed to trade currencies. They will monitor the currency pairs you choose, make trades for you, and exit when the price has reached a pre-determined target. They do all of this without you having to be there to do it. Here are the best forex ea’s that will help you earn more money in…    read more 

How to Install an MT4 EA

Forex EA Basics: How to Install an MT4 EA

October 17, 2021 |

After you have had a bit of practice using the indicator tools on the MT4 platform, you can now move to the next stage in your MT4 learning: how to create an expert advisor. An expert adviser is a program you install onto a platform. It will automatically follow trader’s instructions after a certain criteria has been met. It can be described as “automated trading“, since you don’t have to touch your keyboard or mouse to enter orders. An advantage to using an EA is the ability to create an EA from a mechanical system. This is especially useful if your trading interests include multiple pairs, or if time is a constraint.Before we move on to how to install an EA program, please be aware that there are many EA programs out there that may not work as advertised. They will tell you how their EA system has given them thousands of pips, without…    read more 

How To Make Forex Trading More Profitable

October 17, 2021 |

Investors in today’s world typically assume huge risks. Sometimes this pays off by way of big rewards and sometimes, things explode and people lose every penny. In the Forex market, in particular, over 85% of all investors end up losing their money. If you want to invest in the market, make sure you read these tips before you put your money into it. It is recommended that you keep at least $500 in your forex trading account, even if your broker requires a lower minimum amount. Most forex trading is heavily leveraged, meaning that you are investing more money that you actually have. If you use leverage to make a trade and it does not pan out, you will be responsible for the full value of the trade, including the leveraged amount. To decrease the risk you run, start with a lower leverage account. This will allow you to get…    read more 

Great FOREX Tips

Getting Some Great FOREX Tips That Increase Profits

October 17, 2021 |

Forex trading is a type of high risk, high reward trading that allows investors to make or lose large sums of money in a short period of time. The key to succeeding at forex trading is education. It is vitally important that forex traders understand the strategies that do and do not work. This article contains proven tips to help you make money with forex. To start learning about the forex market and how it operates, it can be a good idea to start out with a demo account. Many brokers offer these to novice traders. You can get an overview of the market and learn how it works without risking your life savings. Start your trading career with a plan, set clearly defined goals, and stick to them consistently. Your strategy will be different depending on whether you want your trading to be your primary source of income or…    read more 

Forex Goals

Advice That Will Help In Reaching Your Forex Goals

October 17, 2021 |

Investors in today’s world typically assume huge risks. Sometimes this pays off by way of big rewards and sometimes, things explode and people lose every penny. In the Forex market, in particular, over 85% of all investors end up losing their money. If you want to invest in the market, make sure you read these tips before you put your money into it. Do not expect constant profits from your forex trading experience. The forex market relies on playing probabilities. It is inevitable that the probabilities will not always work out in your favor. Do not get discouraged when one of your deals fails to meet your expectations. Learn what you can from the trade and improve your position on subsequent deals. When trading, keep in mind why you are doing it. It could be anything from not having anything better to do to learning how to trade and make…    read more