Wijaya Trading

Many experienced traders practice forex trading by taking advantage of several time frames and succeed in making profits. However, novice traders are often confused because of the difficulty of determining which time frame should be used as a reference for execution. By choosing the correct time frame, traders can adjust to what style the trader trades. The following trading systems are commonly used by traders: Trader With Scalping System Traders with this scalping system usually use short time frames, to open positions or close positions in just a few minutes. This trader tends to play with M5, M30 time frames. Day Trading System User Day trading, usually these traders open positions and close positions on the same day. These traders usually tend to play with time frames of 1 hour, 4 hours or 1 day. Swing System User Traders who use this swing system, traders can open and hold trades for several days, weeks or even months. So, therefore the time frame used ranges from H4 and up to W1

Trading psychology is one of the determinants of the sustainability of the trading business being undertaken. Because this trading psychology is related to the trader himself. If the psychology of trading is still chaotic, it will be seen from the way the transaction is still chaotic and emotions are still controlled in the transaction. Like rushing to take profits and still waiting a long time if you experience losses. Not only analysis determines the success of this trading business but also in managing trading psychology. This psychology is what controls traders in making decisions so that it needs to be corrected if the trading conditions are still chaotic. This is the trading psychology that traders must have. Discipline Being disciplined also requires quite a long practice. Discipline in the world of trading is being able to master and run a trading plan that has been made. So that trading activities are more focused and clearer. Traders must be able to obey the rules that have b

One of the keys to success in learning forex trading is risk management. Traders can claim to have a powerful trading strategy or use reliable analysis, but it's useless if all of this is implemented without risk management. This is because without risk management, sooner or later trading will fail to achieve profitable results. In the forex market there is no exact science that can 100% predict price movements correctly. As good as a system is, there must be a potential for prediction errors that can make a trader's trading position lose. Therefore, when learning to trade forex, traders must familiarize themselves with good risk management settings. Here are the risk management methods that traders can apply in trading: Stop Loss Stop loss is an order or an order to close a position that is useful for limiting losses within a certain value. In this case, it means that when the price moves not according to the trader's expectations, and then touches the limit (stop loss), t

These 3 pillars are very important in trading because they will be closely related to the trading strategy that traders will use later. In addition, traders will find it easy to get large profits. What are the 3 pillars of trading in question? Check out the explanation below: Method A simple trading method or method means making all aspects of a trader's trading activity uncomplicated and easy to implement, from the interpretation of price movements to the way the trader executes a position. There are two methods of trading, namely technical analysis and fundamental analysis. Technical analysis is an attempt to estimate prices by observing past price changes, trading volumes and the composite price index. Price changes tend to move in one particular direction (tend). Certain patterns in the past will repeat themselves in the future. Technical analysis is more concerned with what has happened in the market, rather than what should have happened. Meanwhile, fundamental analysis is an

The formation of a candlestick body is an important process in a trading session. A long body means that there is buying or selling activity in a fairly high volume. The longer the body that is formed, the more buying or selling activity that occurs. Conversely, when the body is small, the less buying or selling activity is taking place. In the forex world, traders are familiar with the terms bear (bearish) and bull (bullish). Bear means seller, while bull means buyer. If it is bearish, it means that the price is being pushed up, while bearish means that the price is in free fall. The longer the green body, the further the closing price (close) is above the opening price. This indicates that the price has increased significantly since the chart was formed and traders are buying aggressively. Conversely, if the red body extends, the closer the closing price is below the opening price. An indication of this is that the price has dropped significantly from when the chart was formed and ma

Charting with candlesticks is a method for displaying price movements so that traders can see the struggles between buyers and sellers. From such a situation, traders can take advantage because this struggle often presents certain signals. Trading with candlesticks has been going on for about half a century, and its popularity has increasingly spread to various parts of the world. There are so many candles and candlestick patterns that appear on each chart, and each candle carries certain information from the market. Long wick candlestick is a type of candlestick that has a long wick attached to the body of the candlestick. The body of a candlestick can be positive or negative, making the long wick suitable for all types of candlesticks. The length of the wick of the candlestick determines the high and low of the price movement in the specified time period. Understanding and trading the wicks of candlesticks can provide traders with major trading opportunities. How to Use Candle Wicks

There is a fundamental indicator that is a reference for institutional traders besides interest rate movements from the central bank, namely the United States Non Farm Payroll (NFP), which is published every weekend at the beginning of the month. The NFP report is arguably the basis for the movement of the US dollar. Usually, non-farm payrolls data is announced by the US bureau of labor (BLS) every month on the first Friday of the week, between 19:30 or 20:30 WIB. This schedule can change at any time if it coincides with a national holiday or there are unexpected obstacles. However, the NFP is often published in a timely manner along with a series of other United States employment data such as the unemployment rate, labor force participation rate, average hourly wage growth, and so on. Compared to all other United States employment data, NFP has a big influence as previously stated, forex traders who are quite happy to monitor developments in fundamental data of course usually monitor

NFP or Non Farm Payroll is the most famous event for trading on news. Many traders have experienced hundreds of pips of profit from the non-farm payroll data. Trading during NFP is better to use charts on the M15 and M30 timeframes, because there is the potential for volatility to shrink at the beginning. On the other hand, traders still have the opportunity for traders to look for potential opportunities when market participants are considering whether they want to sell or buy when the NFP has just been released. The trend that is most likely to occur after the initial spike is the trend trying to be achieved by setting up the NFP trading strategy. Actually this strategy can also be used for the EUR/USD pair, but this strategy is more suitable for the GBP/USD pair considering that the pair has a larger daily range than the EUR/USD pair. So of course with the GBP/USD pair the use of this strategy is much more potential. Anyway, if you want to change to a 5-minute chart, that's fine

Psikologi dalam trading menjadi poin penting karena ketika memiliki psikologi yang baik akan menghasilkan trading yang baik, begitu pun sebaliknya ketika memiliki psikologi yang buruk akan menghasilkan trading yang buruk juga. Psikologi trading merupakan istilah luas yang mencakup semua emosi dan perasaan yang akan dihadapi trader pada umumnya saat berada di pasar. Sebagian emosi ini sebenarnya berguna dan boleh jadi dapat trader rangkul, namun yang lain seperti ketakutan, keserakahan, kegugupan dan kecemasan harus dicegah. Psikologi trading itu kompleks dan membutuhkan waktu untuk dikuasai sepenuhnya. Inilah beberapa kunci ketenangan dalam psikologi trading: Gunakan Modal Sesuai Dengan Kemampuan (Demo) Jika para trader belum memiliki modal dalam bertrading, para trader bisa menggunakan akun demo terlebih dahulu. Banyak para trader tergesa-gesa langsung menggunakan akun rill. Perasaan tergesa-gesa seperti ini dapat merusak psikologi trading dan akan mempengaruhi hasil trading yang seda

The forex market is an area that is difficult to predict and is very dynamic. Naturally, because all kinds of forms that occur in the forex market is uncertainty. The chart is a description of the reaction of market participants based on the analysis carried out previously. Here are some tricks to deal with bad market conditions: Plan Trader's Finances Before Investing Focus on short-term needs first for a moment, such as emergencies, insurance expenses, tax bills and others. Keep your money in a bank that has a low deposit interest but the quality of the security is reliable. Invest Trader's Capital Don't stop investing just because the market is down, traders can also buy up some stocks that are falling, then look for good companies, not only in horror but to developing countries. This method is perfect for getting big profits. Accepting Market Uncertainty When deciding to enter the world of trading, traders must accept the uncertainty of price movements in the market. Wh

Open position (OP) is the first step in forex trading. Traders may be able to open positions with just a few clicks on a laptop or just pressing a cell phone keyboard button. However, instead of making a profit, such reckless actions will actually make the trader lose money. Therefore, novice traders must know how to open forex positions correctly as more experienced traders do. Here's how to determine a good open position. Open Buy Sometimes traders still ask when to open buy, if you buy, the price is afraid of going down. If the wrong open buy can actually make traders stressed. When a trader wants to open a position for the first time, for example when open buy, sometimes the trader has to decide to open with a very long analysis. Even though it is enough to follow the direction of the current trend according to the signal conditions in the trader's system. Open Sell The point is that traders must understand the signals that traders use in the trading system, the more trader

As is known, in the world of forex trading there are several things that traders need to pay attention to, especially before entry. One of them is the analysis technique used, namely whether to use fundamental or technical analysis. Fundamental analysis is usually more focused on the latest news updates that may affect price movements, such as economic and political news. Meanwhile, technical analysis is carried out with several mathematical calculations through the help of price charts. In the financial market where this place is the location for buying and selling exchange rates between market participants, the exchange rate will leave a trail in the form of price movements or price action that can be clearly observed on the trading chart. Price action, in this case, is interpreted as a pattern of price movements, and is sometimes considered an indicator in itself. Traders must be good at reading what is happening to the price before using the actual indicator. When a trend is found,

The pending order strategy has gained popularity among futures market traders. This situation is due to the high efficiency of the working tactic, which allows it to reduce the psychological stress of market traders and to open profitable positions in conditions of sharp price changes. With the help of this strategy, the probability level of a forex trade can be increased several times. This strategy can be used by beginners, as well as professionals in order to increase trading efficiency. A pending order is an order that will be executed when the price touches a predetermined point, or an order to open a position at a certain price level. The advantage of pending orders which is widely used by traders is that traders do not have to wait too long in front of the computer to open a position. Easy and Safe Way to Use Pending Orders in Trading In order to properly use this strategy in a trader's work, the trader should determine a price, at which the order will be executed, the optio

Breakout trading is one of the strategies with great profit opportunities. Usually, traders rely on trendlines as a technical tool to get breakout signals. But apparently, there is a simple forex strategy that can be used to sharpen these signals. Especially identified from the price breakout against the trendline. But before discussing the simple forex strategy in question, it's a good idea for traders to understand the importance of using more refined trading signals. Breakout Confirmation Terms 1. Determine key support and resistance price levels. Key levels are really strong and tested support or resistance levels. The price has to break through that level. 2. Make sure that the closing price of the candlestick bar (breakout bar) is above the key resistance level or below the key support level. The further it is from the key level the more valid it is. For example, for uptrend conditions, if the closing price of the bar breaks out below the key resistance level, the bullish mom

Psychological levels are market price levels or levels which are often key levels in forex which are denoted by round numbers. These round numbers often act as support and resistance levels. Psychological support and resistance work consistently because of fundamental human nature. Humans value simplicity, from a trading perspective this means valuing integers. Traders often use these numbers as entry, exit or stop levels. These stops and limits can change the order flow and price changes. Identifying Psychological Levels On Forex Charts Traders will often call this integer interval 'double zero', as this price is at even numbers like 1.31000 for EUR/USD, 1.57000 for GBP/USD or 132.00 for GBP/JPY. The chart below identifies a 'double zero' on the current USD/JPY chart. Some traders will take it a step further by looking at the number directly in the middle of this whole number or the 'fifties'. These levels, such as 1.31500 on EUR/USD or 131.50 on GBP/JPY can of

In forex trading, traders usually determine their respective time frames. Time frame in forex trading means the time span required by a trader to observe price movements. The existence of a time frame in forex trading then gives rise to several profit strategies based on this time frame. In forex trading, it is known that there are several time frames that are usually used by many traders. One of them is the H1 time frame or the 1 hour time frame. This forex trading strategy that relies on the H1 time frame is then called the H1 forex strategy. In the H1 forex strategy, traders observe price movements within 1 hour. The H1 time frame is the favorite choice of many traders, especially for day trading players for a number of reasons. Here are some unique things about the H1 candlestick in forex trading: H1 candlesticks are formed every 1 hour, thus providing a relatively faster time than H4 The H1 candlestick has an accuracy that is not inferior to the H4 timeframe. The H1 candlestick is

Not a few traders take advantage of trend lines to make big profits. The best way to use trend lines is to combine technical analysis and charts of a trade. Trend lines will be the most special trading tool if used effectively. On the other hand, if used carelessly, the results will be ineffective and can sometimes be detrimental. Proficiency in using trend lines is needed, especially in reading chart charts. Errors in reading can lead to misperceptions, such as prices that are thought to be rising when in fact they are not, or thinking that the trend is strengthening but the price is showing otherwise. Basic Tools As the name implies, trend lines will create a trend within a certain period of time (sideway movement). The trend line will connect the swing down, which is the swing down below any price. So if the price goes up, the swing down will also go up. By connecting the swing down through a line, an ascending trend line will be formed. Thus, the result trend will be anik. In addit

Technical analysis is an approach to price analysis that studies market activity using historical price data, including price charts, that have occurred in the past, to predict and anticipate future price movements. In this case, of course, technical analysis must have data and price charts. Historical data used in technical analysis includes information on opening prices, closing prices, highs, lows, and trading volume. In technical analysis, there are many known indicators that function to tell when it is time to trade. The data is processed into various indicators, and presented in graphs along with price movement data. Here are some important things related to technical analysis that deserve attention, including: Price and Volume Chart There are 3 capital price charts used in trading, namely line charts, bar charts, and candlestick charts. Among the 3 types of graphs. Apart from the price chart, it is also important to pay attention to the trading volume. Trading volume can identif

Chart pattern is a price chart pattern that occurs repeatedly, so the pattern can be used to predict future price movements. Chart patterns are very important in technical analysis, because apart from being able to detect price direction, they can also be observed on all time frames, from daily to monthly. In general, chart patterns are divided into 3 categories: Reversal Pattern (Trend reversal pattern) Continuation Pattern Bilateral Pattern (Reversal pattern or trend continuation) There are several chart patterns that often appear, namely: Double Top and Double Bottom The double top is a reversal signal formation that is formed after the formation of a strong uptrend pattern. The double bottom is a reversal signal formation that is formed after the formation of a strong downtrend pattern. Bullish and Bearish Pennant After forming a movement that tends to rise (uptrend) or fall (downtrend) traders, sellers and buyers start to get tired and rest for some time (consolidation) by forming

There are many things to know when a trader starts day trading (day trading). The following few tips will help ensure that traders start off on the right foot, have a plan, and know how to manage risk Create a Trading Plan Before risking money, a trader needs to have some idea of ​​how the trader will profit. The steps that will be taken to achieve the potential profit are outlined in a trading plan. A trading plan is a personal written document that states what the trader will trade and when, how the trader will enter the trade and why, when and how the trader will exit losing and profit trades, and how the trader will determine the size of the trader's position. These are the basics. Additional rules may be added from time to time as needed. Test Trader's Methods Before Trading with Real Money With a trading plan, the next task is to test the plan on the account to see how it performs. Demo accounts allow traders to make hypothetical trades that do not risk real money. This i

Whether the trend is up or down, they can happen at any time for any currency pair. Make a short term chart (1 minute) with a rather long timeframe (daily or weekly). If you want to use a short chart with a duration of 1 minute, trading is done by capturing small trends that occur within a minute, an hour, a minute, or even a few seconds. For example, if you want to use a chart with a duration of 1 week, traders can catch trends that occur within 1 month or 1 year. When the impulse wave declines, it is very possible that a new downtrend will appear again. Therefore, when the correction moves up the downtrend will not go up following where the impulse wave started. Short-sell when a correction wave occurs, assuming that the price will experience a lower impulse wave. There are several ways to trade when a correction wave occurs. The Fibonacci sequence will help isolate areas where the correction will stop and reverse. Another method is to wait for the correction to stop rising, let the

Not all forex traders have free time, there are only a small number of forex traders who can play forex full time. This type of trader is usually called a short-term trader, who usually enters the forex market in an irregular manner. Short-term traders like this generally only buy small amounts spread across various currency pairs. A common problem that short-term forex traders often face is missing the opportunity to buy or sell on time. This is because traders are constrained by daily routines that are always carried out. Unfortunately, this missed opportunity can present losses for short-term traders. In order not to lose, the right forex strategy and time management are needed. Stop Loss Order The best strategy for short-term forex traders is to use the help of a computer. Forex trading programs that are installed on a computer can provide their own advantages, considering that the forex market is very fluid and difficult to follow all the time. Through this trading program, orders

Building a trading plan and running it well is closely related to discipline. But discipline alone is not enough, traders must have super strict discipline. Having super strict discipline is the most important character of a successful trader. The super strict discipline that traders need to carry out the trading plan that the trader built earlier. The trading plan itself is a guide to what a trader should do, why, when, and how a trader will do it. The trading plan covers the personality as a trader, profit targets, risk management and the trading system that the trader will apply. If the trader carries out a trading plan with super strict discipline, then the trader will be able to minimize errors that occur in trading, and by itself will minimize risk. Trader's emotions will usually overwhelm the trader when the trader's money is in danger. Often people will make irrational decisions at times like this. Good traders should not make irrational decisions like this. A good trad