Learning with Income Mentor Box

Learning with Income Mentor Box

If you want to start day trading, but have no idea where to start, then the Income Mentor Box day trading Academy is a great place to begin. The fact of the matter is that without the right education, you aren’t going to get very far with day trading.

This is the case whether we are talking about crypto currencies, forex, the stock market, or anything in between. The simple reality is that if you don’t have the proper training, skill, and knowledge, you are probably going to end up losing money instead of making it.

Well, a school such as the Income Mentor Box day trading Academy can definitely teach you all the skills that you need to know in order to become a profitable and proficient trader. What we are here to do today is to take a much closer look at this Income Mentor Box day trading Academy to see exactly what it has to offer you.

We want to take a closer look at who it’s for, who leads it, what you will learn, and what the extras you will get with it are as well. Income Mentor Boxes at this time one of the most popular lines of trading schools out there, and it’s because they actually work to teach newbies the skills they need to know in order to become self sufficient and profitable day traders.

Income Mentor Box

What is Income Mentor Box?

Income Mentor Box is at this time one of the most popular day trading academies in the world. In case you did not know, day trading is a specific type of trading where trades are generally open for one day or less. This is a great way for most people to make profits, because trades don’t take too long to close. With that being said day trading is still not easy, and it takes the right skills in order to be profitable.

Income Mentor Box is one of the best day trading schools out there, and it will teach you all of the skills that you need to know. One of the biggest benefits of this particular trading school is the fact that it is online. This means that you can learn to trade from the comfort of your own home.

What’s even better is the fact that you can learn on your own time as well. This is because the membership in the Income Mentor Box day trading Academy never expires. With a simple one time payment, you become a member for life, and this means that you have full, unlimited, and lifetime access to all course content. You can take two weeks to go through the course or you can take two years, it’s really up to you.

 

Who is it for?

The Income Mentor Box day trading Academy is designed for everybody and anybody who wants to brush up on their day trading skills. It will teach you everything you need to know about Forex, stock market, and cryptocurrency trading, so you can start making money on your own. Of course, this school is designed primarily for newbies and beginners who have never traded before.

It starts out with all of the most simplest concepts and the basic fundamentals that you need to then build upon. The course then does build upon itself and moves on to the more complex aspects of trading. Now, just because it is primarily designed for newbies does not mean that more experienced traders cannot gain some valuable insights from this trading course.

Income Mentor Box

 

What You Will Learn

The best way for you to figure out exactly what you will learn from Income Mentor Box is by taking a closer look at the screenshots that we have included year, or by taking a look at the main website. However, with that being said, the fact of the matter is that you will learn all of the most relevant skills that you need to know in order to become a profitable trader.

Here you will learn all about the day trading and swing trading, you will learn how to analyze charts, you will learn how to use different indicators and trading strategies, and so much more. you will also learn how to find the best entries and exits into trade, how to analyze the market, and so much more. You will learn quite literally all of the most relevant skills that you need to know in order to be a profitable trader.

Income Mentor Box

 

Who Teaches Income Mentor Box?

The leader of the income of mentor box day trading Academy is none other than Andrew a period you might also know Andrew a from his YouTube trading channel, as well as from his other trading academies.

Now, Andrew has been a professional trader for well over a decade at this point and he makes a full time living doing so. He’s a very knowledgeable forex, stock market, and cryptocurrency trader, and he makes for an even better teacher.

People really seem to like learning from Andrew because he makes learning both easy and relatively fun. All of the lessons contained within Income Mentor Box take the form of any depth video tutorials that Andrew leads by himself. Everything he does is explained in great detail it is then backed up with visual reference. Is definitely one of the best people that you could possibly learn day trading from.

Income Mentor Box

 

The Cost of the IMB Academy

What is important to note is that the Income Mentor Box day trading Academy will cost you $299 to join it. Now, this is a one time price, and you will never have to pay any additional, hidden, or recurring fees of any sort. With a one time payment, you become a member for life. There is also a free trading ebook included with your membership, as well as another awesome extra that we are about to discuss below.

 

Free Forex Signals Group

The other thing that we want to mention is that with your membership any Income Mentor Box day trading Academy, you also get access to a free forex signals group. This is a group where you will get up to a dozen profitable forex signals per day. All of the signals come complete with entry points and exit points, so all you have to do is copy and paste them into your broker or trading platform of choice. It’s a really easy way to make money without actually knowing what you are doing. Moreover, these signals are accurate well over 90% of the time, which means that making money is nearly guaranteed.

Income Mentor Box

 

The Bottom Line on Income Mentor Box

The bottom line here is that if you want to become a profitable day trader in as short amount of time as possible, then it is a great idea to learn with the Income Mentor Box day trading Academy. Even if you don’t master all of the best trading skills right away, at least you will still be able to make daily profits using the Income Mentor Box forex signals group.

CLICK BELOW TO JOIN INCOME MENTOR BOX AND START MAKING REAL PROFITS! 

Mentor Box 50% Off Black Friday Sale

Mentor Box 50% Off Black Friday Sale

BLACK FRIDAY SALE LINK: CLICK HERE

Yes folks, it’s that time of year again, Black Friday. Well, the big bulk retailers any online stores aren’t the only people having a Black Friday sale. Mentor Box, the source for all of your best trading educational needs, is currently also having a Black Friday sale.

Mentor box includes a lineup of awesome trading schools that will teach you how to be a professional and profitable trader period now, these usually cost a decent amount of money, although they are not overly expensive to begin with. With that being said, with this Black Friday sale, everything is now 50% off.

Folks, that is right, this Black Friday sale means that all mentor box products are 50% off. Of course, this sale is not going to last forever, so you need to take advantage of it while it lasts. Let’s take a closer look at exactly what you get for 50% off and what it all entails. There are four specific things that you now have the ability to buy for 50% off for a very limited time.

Black Friday Sale Mentor Box

Black Friday Sale at Income Mentor Box

The Income Mentor Box Day Trading Academy is regarded as being one of the best day trading schools in the world. This day trading school focuses mainly on forex trading, but will also teach you some valuable stock market trading techniques as well.

This course consists of well over 50 full length lessons, and they all consist of in depth video tutorials led by none other than Andrew himself.

Black Friday Sale

Between the 50 full length lessons and the various other resources at your disposal, this Income Mentor Box Day Trading Academy will teach you how to become a proficient and profitable trader. Let’s not forget that it also comes complete with a highly accurate forex signals group, one that provides you with up to a dozen forex signals per day, ones that are accurate up to 95% of the time.

Income Mentor Box

Lifetime access to income mentor box usually costs $299. However, with this 50% off Black Friday sale, you are looking at just over $149. People, being able to get a fully comprehensive forex education for under $150 is an extremely good deal.

 

Black Friday Sale at Stock Trading Mentor Box

The next thing that we want to talk about in terms of this 50% off Black Friday sale is Stock Trading Mentor Box. This is at this time rated as being one of the best stock market trading schools in the world. Just like with the above trading school, this one also consists of over 50 full length lessons that are lead by none other than Andrew himself.

Andrew is of course a fantastic trader, and he makes for an even better teacher too. He has the skills and the patience to teach even the grief of newbies exactly how to trade the stock market. Within this course, you will learn literally everything that you need to know about the stock market in order to be a proficient and profitable trader for the rest of your life.

Black Friday Sale

In terms of educational content, this is one of the most comprehensive stock market trading schools in the world. Let’s not forget that stock trading mentor box also comes with a free trading indicator included, one that is called the ultimate profit scalping indicator.

Now, usually, this stock trading mentor box school would cost $399. However, with this 50% off Black Friday sale, you are looking at a price of just under $200. Once again, being able to learn how to be a proficient stock market trader for under $200 is an absolutely fantastic deal.

Stock Trading Mentor Box

 

Black Friday Sale at Crypto Mentor Box

This Black Friday sale also applies to Crypto Mentor Box, which is one of the best cryptocurrency signals group in the world. This signal group will provide you with up to a dozen cryptocurrency signals for day, and they are accurate up to 95% of the time. For those of you who don’t know, as signals group provides you with all of the information you need to place profitable trades without actually having to do any research or heavy lifting whatsoever.

Black Friday Sale

All of the signals come complete with entry points and exit points, so all you have to do is copy and paste the trades into your trading platform or broker of choice, and watch as the profits roll in. Let’s not forget that Crypto Mentor Box also comes with a basic crypto currency trading course. Therefore, you can learn how to trade crypto currencies as you copy and paste profitable trades.

Usually, this crypto meant for box singles group would cost $299, but with this 50% off Black Friday sale, you are looking at the price of just over $149. People you can make back that $149 in a single day of trading with these awesome signals.

Black Friday Sale

 

Ultimate Profit Scalping Indicator 50% OFF

The other awesome trading resource that you can benefit from is called the Ultimate Profit Scalping Indicator. Yes, this indicator does come included with Stock Trading Mentor Box, but you can also buy this Ultimate Profit Scalping Indicator separately.

Black Friday Sale

Usually, this Ultimate Profit Scalping Indicator will cost you $299, but with his 50% off Black Friday sale, it will cost you only $149.50. In terms of useful indicators that can provide you with accurate buy and sell signals that you can then place trades on, is UPSI is hands down one of the best. What is the most accurate trading resources out there that can help put money in your pockets on a regular basis.

 

50% OFF EVERYTHING!

Folks, whether you want to learn to trade forex, the stock market, cryptocurrencies, or you just need an awesome profit scalping indicator, or even just a cryptocurrency signals group too, then now is the time to take advantage of the 50% off Black Friday sale.

These rock bottom prices will allow you to become a profitable trader without having to spend barely any money at all. Being able to receive a full time stock trading or forex trading education for well under $200 is nothing to turn your nose up at. This Black Friday sale is the best deal that you are ever going to get in this regard.

CLICK ON IMAGE BELOW TO TAKE ADVANTAGE OF THE 50% OFF BLACK FRIDAY SALE AT MENTOR BOX TRADING. 

The Basics of Bollinger Bands

The Basics of Bollinger Bands

If you are just getting into the world of trading, weather stocks, forex, or anything in between, one of the most important things you need to know all about are indicators. Indicators are a special set of trading tools designed to provide you with a variety information about the price and the value of a specific security, currency, or more. There are four main types of indicators out there, and these include momentum, trend, volatility, and volume indicators. What we are here to do today is to take a closer look at one of the best volatility indicators out there, Bollinger bands.

when it comes to gathering as much information as possible about price data, Bollinger bands are extremely useful. Now, understanding exactly what Bollinger bands do and what they tell you is a bit complicated. However, this is what we are here to explain to you today. Today, we want to provide you with a crash course of Bollinger bands, and exactly how to use them. Below, we have included one video from Andrew, where he describes the four best trading strategies to use with Bollinger bands. If you master the basics of these Bollinger bands, and you also take a closer look at the strategies discussed by Andrew, your life as a trader should become much easier and more profitable too.

What are Bollinger Bands?

Alright, so first and foremost, Bollinger bands is a volatility indicator. A man named John Bollinger created the Bollinger bands in the 1980s, and he developed a special technique for using a moving average along with two trading bands above and below that moving average. Unlike a normal moving average that has a percentage population, the Bollinger band simply adds and subtracts a standard deviation calculation.

Keep in mind that standard deviation is a mathematical formula that measures volatility. This shows how the price of a currency or a stock can vary from its true value. By measuring the volatility of price, Bollinger bands have the ability to adjust themselves to market conditions. This is something that makes Bollinger bands extremely useful for a variety of traders, because you can find mostly all price data needed in between those two bands.

The Three Components of Bollinger Bands

In order to be able to gather data about volatility, you first need to know what the three main components of the Bollinger bands are. Being able to gather data relies on your understanding of these three main components. The first of these main components is a simple moving average, usually of an intermediate length. This is a simple 20 day moving average and if this is often the default setting. This average can be used for measuring trend and to calculate the other two elements of this indicator.

The second part of this indicator is the upper band, which is a standard deviation above the simple moving average used in this indicator. Two standard deviations is usually the default that is used by most charting software. The third component of Bollinger bands is the lower band, and this is a standard deviation below the simple math moving average, and it is usually 2 standard deviations that is the default.

Bollinger Bands

What They Tell You

Let’s provide you with a better understanding of exactly what the Bollinger band indicator tells you. Most traders believe that the closer the price moves to the upper band, the more overbought the market is, but the lower the price move to the lower band, the more oversold the market is. The main takeaway here is that the further away the bands are from each other, the higher the amount of volatility the market is seeing.

Pros & Cons of Bollinger Bands

Bollinger bands you have both advantages and disadvantages that you need to know about, so let’s take a quick look at these.

Pros

  • When it comes down to it, this Bollinger bands are the best indicators out there for seeing volatility in a trending market.
  • This is one of the most popular technical indicators out there due to its ease of use, it can be easily applied and they can help with identifying trends, volatility, and momentum.
  • Bollinger bands are also great for identifying new and emerging trends at the end of old trends, which makes them an awesome multipurpose indicator.

Cons

  • The only real downside with these Bollinger bands indicators is that they follow recent market movements, and this means that traders might not get signals until price movement is already underway. In other words this is a lagging indicator.
  • Even John Bollinger himself said that this indicator is not completely foolproof, and it should be used in conjunction with other types of technical analysis.

Bollinger Bands

Tips for Using Bollinger Bands

Let’s provide you with some of the most important tips that you need to know about these Bollinger bands indicators, especially when it comes to reading what they tell you.

  • when the bands get separated by a large amount, any existing trend may close due to rising volatility.
  • When the bands tighten together in a time of low volatility, there is a higher probability of a sharp price move in either direction. This could start a trending move. What you also need to do here is to observe the false moves in the opposite directions, and these may reverse before the right trend starts.
  • Keep in mind that the price can go beyond a band of envelope for long periods when there are strong trends.
  • Keep in mind that the prices can bounce within the envelope bands, touching one man and then the other. These swings can be very useful for determining potential profit targets. For example, if the price bounces off the lower band and then passes about the moving average, the upper band then is the profit  target.
  • Keep in mind that you can expect a strong trend continuation if the price moves out of the bands, but if the price moves back inside the band right away, then the suggested strength is negated.

How to Trade with BB

We aren’t going to get into explaining exactly how to trade with the Bollinger bands indicator right now, but we what we do want to do is to provide you with this particular video. In the video that we have included here, Andrew discusses is before best trading strategies to use with this Bollinger bands indicator.

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If you master any one of the trading strategies that Andrew discuss is in this video, your life as a forex or stock market trader should become much easier and more profitable to. If there is one thing that you take away from today’s article, it should be everything that Andrew discusses it within this video.

The Bottom Line on Bollinger Bands

Now that you know what Bollinger bands are, you got one more awesome indicator in your arsenal to evaluate price data, and therefore to place the best possible trades for the biggest profits.

If you need help day trading, and what you need is a comprehensive education, particularly on Forex trading, then the best place to be is the Income Mentor Box Day Trading Academy. At this time, the IMB Academy is the most comprehensive, user friendly, effective, and affordable Forex trading school out there.  

CLICK BELOW TO JOIN INCOME MENTOR BOX AND START MAKING REAL PROFITS!

Forex Trading Tips for Beginners

Forex Trading Tips for Beginners

If you are a beginner trader, then chances are that you are going to lose a lot of trades, especially if you don’t know what you are doing. The simple reality is that Forex trading is not easy. It takes a lot of practice, skill, and knowledge to be successful in the world of currency trading. This is what we are here for today, to provide you with the most important Forex trading tips for beginners that you need to know.

Now, make no mistake about it, because it is of course important to know all about indicators and proven trading strategies, but it goes deeper than that. Or in other words, there are so many simple tips that beginners can follow to increase their chances of success.

 This is what we are here for today, to provide you with Forex trading tips that you can easily follow and adhere to as a beginner. These few simple tips that we are going to discuss should be more than enough to get you on the right track.

Forex trading Tips

Forex Trading Tips – DO NOT DO THIS!

What we want to do first is to talk about the biggest mistakes that newbie traders make, the mistakes that lead to consistent losses. These Forex trading tips are things that all newbies need to avoid doing at all costs.

Do Not Overtrade

When it comes to important Forex trading tips for newbies, refraining yourself from overtrading is one of the biggest ones of all. The problem with overtrading is that you end up having way too much on the go at once. As a newbie, keeping track of one or two trades is already hard enough, let alone four or five trades. Overtrading and placing tons of trades gets you nowhere if you can’t win individual trades.

Do Not Use Lower Time Frames

Another big mistake that so many newbie traders make is using very low or short time frames for trading. Sure, short time frames are great for pros who know what they are doing and know how to make quick money. However, if you are a newbie trader, then using short time frames is very hard. The reason for this is because short time frames, those charts, they don’t provide you with much info. Placing trades based on just a few minutes of past price movements is not easy. When it comes to Forex trading tips for newbies, those short time frames just aren’t worth it.

Do Not Attempt to Trade the News

Another thing that you need to realize is that trading based off of fundamental news is not easy. Sure, fundamental news analysis is an effective way to trade, but that said, if you are not super familiar with exactly how news events are going to affect future price movements, then it is just not worth it. Judging what the market will do based on some news event is really difficult. Until you have the necessary experience, this is best stayed away from.

Do Not Overcomplicate Trading Analysis

In terms of important Forex trading tips for beginners, one of the biggest things to realize is that you don’t need to overcomplicate things. You don’t need to start using four indicators at once and you don’t need to try and trade like a pro. If you don’t have the skills to execute super complicated trading strategies, then don’t bother. There are plenty of simple trading strategies out there that will do the trick just fine.

Do Not Lose Money Consistently

One of the biggest mistakes that all too many newbies make is to just keep losing money and not doing anything about it. Folks, if the way you are trading is resulting in lost money time and time again, then don’t just keep doing it and think that something is going to change on its own. If you don’t change your approach then your results won’t change either. Doing the same thing over and over again, while expecting different results is called insanity.

Forex Trading Tips – Do This

Now that we have talked about all of the biggest mistakes that Forex newbies need to avoid, let’s talk about the biggest Forex trading tips in terms of the most important things that you need to do in order to profit.

 

Do Learn to Trade First

In terms of important Forex trading tips for beginners, perhaps the most important thing you need to do is to learn how to trade. Folks, this is not something that you can just start doing and be successful at. It just doesn’t work that way. You need a good education. If you want to learn to trade Forex, what we recommend doing is joining the Income Mentor Box Day Trading Academy. It is at this time the highest rated Forex trading school out there.

Forex trading Tips - Income Mentor Box

Do Use Longer Timeframes

Another important tip to follow here is to stick with longer time frames. Try using at least one hour time frames, and preferably even longer. Generally speaking, predicting future price movements is much easier when you have a longer period of past information to work with.

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Do Practice Your Skills First

The other thing that you definitely need to do, perhaps the biggest of all the Forex trading tips for beginners, is to actually practice your skills using a demo account. There are plenty of platforms and brokers out there that allow people to trade with demo accounts. These are live market accounts that use fake money. This way, you can practice your skills under real conditions without having to put real money on the line.

Forex Trading for Beginners

Folks, if you follow all of the Forex trading tips for beginners that we have provided you with here today, your chances of becoming a profitable Forex trader increase drastically. If you take a look at the tips that we have discussed above, you can see that they aren’t anything super groundbreaking or revolutionary. However, tips as simple as these can make a huge difference when it comes to making a successful start in the world of foreign currency trading.

If you need help day trading, and what you need is a comprehensive education, particularly on Forex trading, then the best place to be is the Income Mentor Box Day Trading Academy. At this time, the IMB Academy is the most comprehensive, user friendly, effective, and affordable Forex trading school out there.  

CLICK BELOW TO JOIN INCOME MENTOR BOX AND START MAKING REAL PROFITS!

RSI Indicator for Newbies

RSI Indicator for Newbies

If you are planning to become a proficient Forex trader, then something that you need to know all about are indicators. Indicators are the most important tools used in trading Forex, stocks, crypto, and everything in between. One of the most important indicators for you to know is the RSI or Relative Strength Index.

For those of you who don’t know, indicators are the cornerstone of technical price analysis. In other words, indicators provide you with important information about past and current price movements. This should of course provide you with a good idea of what price movements in the near future look like. There are four types of indicators out there. These are trend, momentum, volatility, and volume indicators.

Momentum indicators are some of the most popular and useful, which is what the RSI or relative strength index is. What we want to do today is to provide you with some basic information on what the RSI is, how to use it, what it tells you, and more. Let’s get to it and help you trade using the relative strength index.

RSI

What is the RSI?

Ok, so as we have established by now, RSI stands for relative strength index. This is a special type of indicator that was first developed by J. Welles Wilder Jr, who then introduced it to the world in his 1978 book, New Concepts in Technical Trading Systems. Since then, it has quickly become a super popular technical analysis indicator, and for good reason, because it works.

Now, in terms of the four indicator types, the RSI or relative strength index, is a momentum indicator. In other words, it measures how strong or momentous recent price changes were. This is them used to see if a stock or other asset is overbought or oversold. Of course, if something is overbought or oversold, it provides you with valuable information on how to place a trade.

What you also need to know is that the RSI or relative strength index is displayed as an oscillator. This means that it moves or oscillates between values ranging from 0 to 100. It can therefore provide you with valuable information about the bullish or bearish momentum of an asset.

RSI

How to Interpret the Relative Strength Index

Now that you know what the RSI is and what it tells you, it’s also important for you to know how to interpret and read the relative strength index. Of course, if you cannot interpret what you see, then you cannot use it to place profitable trades. In order to use the relative strength index properly, there are just a few important things that you need to know.

So, when the RSI goes past the horizontal 30 level, it is generally a bullish sign, and when it goes below the 70 reference level, it is generally a bearish sign. To put it in simpler terms, if the RSI provides you with a reading of 30 or below, it is an indication that an asset is oversold and/or undervalued. When the relative strength index provides you with a reading of 70 or above, then an asset is becoming overvalued and/or overbought.

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What you also need to know is that during a trend, the RSI can fall into a range or band. When there is an uptrend going on, the relative strength index will stay above 30 and should hit 70 quite often. If there is a downtrend in the works, the RSI should usually never exceed 70, and will often hit the 30 mark, or well below 30.

To provide you with an example, if there is a downtrend, and you see that the RSI does not reach 30 or below, and then also rallies at 70 or higher, it means that a downtrend has weakened and will likely reverse into an uptrend. The exact opposite is the case with an uptrend. Keep in mind that using both moving averages and trend lines is important when using the relative strength index indicator in this manner.

Drawbacks of the RSI

Just like any and every indicator out there, the RSI does also have some limitations that you will be faced with. The biggest issue with the relative strength index is that it can be difficult to separate false alarms and true reversal signals. To provide you with an example, a bullish crossover followed by a sudden decline in stock is a false signal.

What you also need to be aware of is that since this is a momentum indicator, it can stay in the oversold or overbought positions for quite some time after an asset has already achieved significant momentum in the opposite direction. For this reason, the RSI is usually the most useful in an oscillating market where an asset is alternative between bearish and bullish price movements.

Using the Relative Strength Index to Place Trades

Alright, so the fact of the matter is that there are many ways to trade with the RSI. Moreover, there are also many other indicators that you can use along with it. Now, we do really recommend watching the tutorial video that we have included here, because it provides you with perfect guidelines on how to use the RSI.

That said, the most important takeaway from this video is that you want to use support and resistance along with the relative strength index. This will help prevent false reversal signals from occurring, and it will also help you spot those reversal much easier.

For instance, if you see that an asset is undersold at the 30 line on the RSI, then you also want to look for major support lines. These support lines will indicate that a trend reversal is on the horizon and that an uptrend could soon begin. The same goes in the other direction.

Trading with the RSI – Final Thoughts

There you have it people, all of the basics that you need to know about this awesome RSI indicator. We definitely recommend watching all of the videos that we have included here today. Andrew does a great job at explaining exactly how to use the RSI indicator in a variety of ways.

If you need help day trading, and what you need is a comprehensive education, particularly on Forex trading, then the best place to be is the Income Mentor Box Day Trading Academy. At this time, the IMB Academy is the most comprehensive, user friendly, effective, and affordable Forex trading school out there.  

CLICK BELOW TO JOIN INCOME MENTOR BOX AND START MAKING REAL PROFITS! 

12 Candlestick Patterns You Need to Know

12 Candlestick Patterns You Need to Know

As a proficient trader, something that you need to know all about are candlestick patterns. Now, we already did an article on candlestick patterns yesterday, but today we are here to provide you with a more in depth guide on the various patterns that you might come across.

Yesterday, we did a more general article on Candlestick charts and patterns, but today we want to help you familiarize yourself with the various patterns that you might see on those charts. Remember folks, it is very important that you are able to identify the various candlestick patterns out there, because they each signify something slightly different, and they each allow you to trade in a slightly different manner.

Remember, it’s all about being able to make as much profit in as little time as possible, and candlestick patterns are in great way for doing this. Let’s get to it and provide you with a list of all of the most important Candlestick patterns that you need to know about.

Candlestick Patterns

A Brief Introduction to Candlestick Charts

Before we start talking about the most common Candlestick patterns that you need to be familiar with let’s just give you a quick crash course on Candlestick charts and patterns. So can you stick charts are a visual representation of the emotion and sentiment that is currently happening in the market. In other words, these Candlestick charts provide you with a really easy way to see what a market trend is like, and moreover if there is a trend reversal on the horizon.

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The two most important components of any candle stick chart are the bodies and the Wicks of the candles. If you can read the Wicks and the bodies of the candles in relation to the other candles on the chart, then you will start seeing these patterns, and based on these patterns you can then trade in specific ways. let’s move on and take a look at the most common Candlestick patterns that you may be faced with when taking a look at a Candlestick chart.

 

Bullish Candlestick Patterns

In case you didn’t know a bullish market is one where the prices are expected to rise. Bullish candlestick patterns may appear after a market downtrend, and they generally signal a reversal of the price movement from a downtrend to and uptrend. There are a variety of bullish candlestick patterns that you should absolutely know.

The Hammer

The hammer pattern features a green candle with short body and a long lower wick, and this is found at the bottom of a downtrend, with other green candles generally following. A hammer usually indicates that the word selling pressure throughout the day, but ultimately a strong buying pressure drove the price direction back up. Generally speaking, the color of the body of this candle can vary, but green hammers do usually indicate that there is a stronger bold market than red hammers.

Candlestick Patterns

The Inverse Hammer

A similar bullish candlestick pattern for the one we just looked at, the inverted hammer, is one that features a green candle that has a short body and a very long upper wick, along with a short lower wick. the inverse hammer pattern indicates that there is strong buying pressure followed by selling pressure that wasn’t strong enough to drive the market price down. This particular Candlestick pattern suggests that the buyers will soon again had control of the market.

Inverted Hammer

The Piercing Line

The piercing line is a very simple candlestick pattern that features just two candles, and this is made up out of one long red candle that is then followed by a long green candle. There’s usually also a pretty large gap between the closing price of the first candlestick and the opening of the next green candlestick. This particular pattern indicates that there is strong buying pressure, because the pressure is pushed upwards or above the mid price of the previous day.

Piercing Line

Bullish Engulfing

Another common bullish candlestick pattern is the bullish engulfing pattern, and this is formed by Two’s candlesticks. The first candlestick generally has a short red body that is completely engulfed by a much larger green candle. Although the second day generally opens lower than the first day, the bullish market then pushes the price upwards, which results in a win for the buyers.

Candlestick Patterns

Three White Soldiers

Here we have a very special candlestick pattern, one that keeps occurs over the period of three days. this particular pattern consists of three long green candles, all of which have small Wicks, and they all open and close progressively higher than the previous day. This is one of the strongest bullish candlestick patterns out there, and it occurs after a downtrend, and it shows that there is a steady advance of pressure from the buyers.

Three White Soldiers Pattern

The Morning Star

The 6th and final bullish candlestick pattern that we want to take a look at is the Morning star, and this is generally seen as a big sign of hope in a bleak market downtrend. This is a pattern that consists of three separate sticks, a short bodied candle that sits between a long red candle and a long green candle.

Usually, that star will not have an overlap with the longer bodies, because the market gaps both on open and close. Is generally signals that the selling pressure from the first date is reducing, and that the bull market is on the horizon.

Bearish Candlestick Patterns

Now that we have figured out what the most common bullish candlestick patterns aren’t, let’s take a closer look at some of the most common bearish candlestick patterns. Remember that these usually happen after a market uptrend, and signified that the market downtrend is on horizon.

The Shooting Star

The shooting star pattern actually has the same shape as the inverted hammer, but it’s a red candle instead of a green candle, and it’s formed in an uptrend, instead of a downtrend. This pattern features a small lower body, and along upper wick. Generally, you will see the market have a gap that is slightly higher on opening, and will then rally to an intraday high, before closing at a price that is just above the open, just like a star that is falling to the ground.

Candlestick Patterns

The Hanging Man

The next candlestick pattern that you should know about is the hanging man, and this is the bearish equivalent of the hammer. It has the same shape as the hammer but it forms at the end of an uptrend. This pattern indicates that there was significant selling during the day, but that buyers were then able to push the price back up. This large sell off is usually seen as a sign that the bulls are losing control of the market.

The Evening Star

One of the other most important bearish candlestick patterns that you need to know about is the evening star. This is a 3 candlestick pattern and it is the equivalent of the bullish Morningstar. This is a candle that is formed when there is a short candle that is stuck between a long green candle and a large red candle. Is generally indicates that there is a reversal of the uptrend, and that it’s particularly strong when the third candle erases all of the gains made by the first candle.

Bearish Engulfing

This particular pattern always happens at the end of an uptrend, and it is characterized by a first candle that has a small green body that is then completely engulfed by a long red candle. This generally signifies that there is a peak or a slowdown of the price movement, and that there is an impending downturn on the horizon. The lower the second candle goes, the stronger that new trend is going to be.

Candlestick Patterns

Dark Cloud Cover

The next bearish candlestick pattern that needs to know about is a dark cloud cover pattern. Here you will see two candlesticks, a red one that opens above the previous green body, and closes below the midpoint of the previous green candle. This signals that the bears have taken over the market, and the market and that the price is being pushed at lower. If the wicks of the candles are very short, it suggests that the next downtrend is going to be very strong.

Three Black Crows

The last candlestick pattern that we want to look at today is the three black crows pattern, and this consists of three consecutive long red candles, that have short or no wicks at all. Each of the sessions opens at a very similar price to the previous day, but the selling pressure pushes the price lower and lower with each of the next closes. This is generally seen as an interpretation that a bearish downtrend is about to start.

Candlestick Patterns

Candlestick Patterns – Final Thoughts

The bottom line here is that if you are able to identify these 12 candle stick patterns that we have talked about today, then your chances of becoming a profitable trader increase drastically.

If you need help day trading, and what you need is a comprehensive education, particularly on Forex trading, then the best place to be is the Income Mentor Box Day Trading Academy. At this time, the IMB Academy is the most comprehensive, user friendly, effective, and affordable Forex trading school out there.  

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The Candlestick Patterns Trading Guide

The Candlestick Patterns Trading Guide

If you are just getting into the world of forex trading, then one of the things that you need to know all about are candlestick patterns. Candlestick patterns originated in the country of Japan well over 100 years ago before the western style bar and point-and-figure charts were invented.

In fact, these candlestick patterns were first invented in the 1700s by a Japanese man who saw that there was a link between price and the supply and demand of rice. One of the things that candlestick patterns aim to extrapolate is what the emotions of traders are like. anyway, we will get more into explaining these Candlestick patterns further below.

The point here is that Candlestick patterns are great analysis tools that you can use to place either buy or sell trades, as they show you whether or not there is bullish or bearish momentum in the market. What we are going to do today is to take a closer look at Candlestick patterns and see exactly what they are, how they work, and what the most important ones are that you need to know.

Candlestick Patterns

What are Candlestick Patterns?

In terms of what candlestick patterns actually are, they are at special type of chart that are used by many different traders to determine the possible price movements based on those past patterns. Candlestick patterns are extremely useful for trading because they provide you with a lot of information.

Technically speaking they provide you with four different pieces of information, including the open, that close, the high, and the low of a specific asset throughout a certain period of time like a trader has specified.

Candlestick Chart

The fact of the matter is that trading is more often than not dictated by emotion, even though it shouldn’t be, and this emotion can actually be read in those candlestick patterns. Due to the fact that these Candlestick patterns provide us with such a plethora of information, they are often seen as some of the most useful tools in all of trading.

Now, what can get a bit confusing is being able to identify a variety of Candlestick patterns as well as what they need. as you are about to find out further below, there are many different Candlestick patterns, both bearish and bullish comment and they all tell you something different. The trick is of course to be able to read these patterns and to therefore place trades based on what those patterns tell you.

The Components of Candlesticks

Something else that is definitely important for you to know here is what the different components of candlesticks are. So, once again, candlestick patterns show you the markets open, the high, low, and the closing price for the day. Now, a candlestick has a wide part, which is called the real body.

The real body represents the range of price between the open and the close for the day of trading. If this real body is filled in or totally black, it indicates that the close was lower than the open. However, if the real body is empty that means that the close was higher than the open. Moreover, the wicks of the candles indicate the low price of the day and the high price of the day.

What you need to know here is that when it comes to forex, stock market, commodities trading, and more, the fact of the matter is that these candlestick charts do provide you with more or less the same information as bar charts, but most people find that candlestick patterns are much easier to read than bar charts. In terms of identifying the candles, do keep in mind that most people will shade a down candle red instead of black, and up candles are often shaded green as opposed to white.

Candlestick Patterns

Pros & Cons of Candlestick Charts

Just like everything in trading, Candlestick charts do have both their pros and cons, so let’s take a look.

Pros

  • One big advantage is that most indicators work really well with this type of chart.
  • Candlestick patterns are very aesthetically pleasing and they’re easy to read. this is a very beginner friendly way of trading.
  • What also stands out is that candlestick charts are infinitely customizable, and a single candlestick can represent anytime period of any asset.
  • Candlestick patterns are also extremely accurate because they provide you with so many different types of information, including the highs, lows, opens, and closes inside a given time frame.
  • This is one of the best possible tools for identifying market sentiment and who is in control of the market.

Cons

  • One small disadvantage here is that candlestick charts do sometimes have gaps in them where one candle closes at a certain level but the following candle opens at a different level.
  • These patterns do also have a tendency to cause what is called apophenia, which is a cognitive bias where we see patterns and things that are actually random. Some people may actually see patterns where none exist.
  • Many people make the mistake of thinking that candlestick patterns are all that they need in order to trade accurately. The fact of the matter is that price data alone usually isn’t enough to provide you with enough reliable information to place trades. In other words, do so you have to use indicators.

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Some Basic Candlestick Patterns

What we want to do now is to go over some of the most basic Candlestick patterns out there, and exactly what they needed. Remember folks, the trick to candlestick trading is that you actually need to be able to identify the various patterns that you may see within your charts.

Candlestick Patterns

Bearish Engulfing Pattern

One of the most basic Candlesticks that you may see is called the bearish engulfing pattern. The type of pattern that develops in an uptrend when there are more sellers than buyers. In this pattern, you will see a long red real body that engulfs a smaller green real body. This is a pattern that indicates that the sellers are back in control and the price could continue its decline.

Bullish Engulfing Pattern

On the other hand, we have the bullish engulfing pattern, which is when the buyers outnumber the sellers. In terms of the candlestick pattern, you will see a long green real body that engulfs a small red real body. This shows that the bulls have established a certain amount of control, and the price could continue to go up.

Candlestick Patterns – The Bottom Line

Today, we have provided you with a basic tutorial on candlesticks, but the fact of the matter is that there are of course dozens, if not hundreds of different patterns out there. Stay tuned and come back tomorrow, because we will be doing a part 2, where we will be talking about all of the most common candlestick patterns that you may encounter, and exactly what they mean.

If you need help day trading, and what you need is a comprehensive education, particularly on Forex trading, then the best place to be is the Income Mentor Box Day Trading Academy. At this time, the IMB Academy is the most comprehensive, user friendly, effective, and affordable Forex trading school out there.  

CLICK BELOW TO JOIN INCOME MENTOR BOX AND START MAKING REAL PROFITS! 

How to Start Forex Trading for Beginners

How to Start Forex Trading for Beginners

If you are a beginner who is just getting into the world of forex trading, there are a lot of things that you need to learn in order to be successful. The fact of the matter is that forex trading is not easy, not in the least. It takes many different skill sets in order to be a successful trader in the world of foreign currencies.

Now, when you start trading, chances are that you probably don’t have very much capital despair. This means that every action you take is extremely important because the less money you have the bigger of an effect of losing or a winning trade has on your overall balance.

If you are just somebody who’s just starting trading, you probably have no idea what you are doing, and you have no idea where to start either. Today, we are here to look at one specific video that Andrew has uploaded on his trading channel, Andrew’s Trading Channel. This video is all about how to start forex trading for beginners, especially for those who don’t really have any money. Let’s get to it and teach you the fundamentals that you need to know as a beginner to start forex trading successfully.

How to Start Forex Trading

How to Start Forex Trading for Beginners

What we want to do right now is to talk about the tips and rules that Andrew provided you within this video, all of which are designed to help you start trading Forex as a beginner. We did expand on Andrew’s original video, but with that being said, all of the rules and tips that we are about to share are equally as important. Let’s go through a step-by-step tutorial on how to start trading forex successfully.

It All Starts with an Education

If you plan on being a successful forex trader, then perhaps the most important thing that you absolutely need to do is to go get yourself a forex trading education. The fact of the matter is that there are many different assets and things about forex trading that you need to know in order to be successful.

You need to know all about trading platforms, indicators, charting solutions, trading strategies, technical analysis, fundamental analysis, and much more. The fact of the matter is that it can take many weeks or even months to develop a full skill set that will allow you to be a successful foreign currency trader.

What we recommend doing is taking a look at the Income Mentor Box Day Trading Academy, which is at this time one of the most popular forex trading schools out there. Yes, this trading school is led and taught by none other than Andrew himself, and quite frankly, there is no one that we would rather be learning from than him.

Andrew is a fantastic trader and an even better teacher. The bottom line here is that if you want a chance of being successful in the world of foreign currency trading, then you absolutely need to have a good education.

Start Forex Trading

Try a Demo Account

If you want to start trading for it successfully, then another huge tip that you need to follow is to start using a demo account. Of course, when you first start trading, you are going to lose some trades. this is absolutely normal, especially as a new day trader who has never traded before. There is quite a bit of a learning curve involved here, and it will take a while for you to get over it.

However, just because there is a learning curve and just because you need to practice doesn’t mean that you need to risk real money. The reality is that every good trading platform and broker should come with a demo account option, which is a type of trading account that simulates real market conditions, and also uses real current market conditions, thus allowing you to trade without having to risk any real money.

It’s like a practice version or a trial version of the real thing, but one that is fully functional, and allows you to practice the most important skills. Never start trading with real money before you have spent at least a few days trading with some kind of demo account.

Practice Your Fundamentals

Another thing that you should familiar eyes yourself with if you plan to start forex trading, is fundamental news analysis. Fundamental analysis is one of the leading ways in which forex traders determine which trades to place at any given time.

Fundamental analysis involves analyzing various news events that are related to specific companies, national currencies, or companies, all of which can happen effect on the value of forex currency pairs, or on other assets as well.

You need to be able to use those economic calendars on investing.com, and you need to know what three bull news is all about too. The bottom line here is that if you want to start forex trading, then you absolutely need to know what fundamental analysis is and how to perform it as well.

How to Start Forex Trading

Practice Technical Analysis

if you are planning to start forex trading, then another very important thing that you need to be able to do is to perform technical analysis. Of course, there are literally hundreds of different indicators out there, and they all work in a slightly different way. This means that there are quite literally thousands of different trading strategies that you can utilize.

The bottom line here is that you need to familiarize yourself with the various types of indicators out there, which indicators work best for what trading situations, and what some of the best trading strategies out there are. If you already have a good trading strategy under your belt, your starting forex trading is going to be much smoother.

Practice Makes Perfect

In order to start forex trading successfully, the final recommendation that we want to leave you with today is that you should practice your trading skills for at least 21 days before you start trading with real money.

You can trade either on paper or you can use a demo account, but the bottom line is that you should find yourself being relatively successful when trading with fake money before you start trading with the real thing. There is absolutely no point to start forex trading with real money if you haven’t even been successful with fake demo money yet.

 

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Start Forex Trading Today – Final Thoughts

If you follow the five steps that we outlined above, then your start to Forex trading should be quite smooth and successful. Remember folks, to start Forex trading successfully, having a good foundation of knowledge under your belt is crucial. 

If you need help day trading, and what you need is a comprehensive education, particularly on Forex trading, then the best place to be is the Income Mentor Box Day Trading Academy. At this time, the IMB Academy is the most comprehensive, user friendly, effective, and affordable Forex trading school out there.  

CLICK BELOW TO JOIN INCOME MENTOR BOX AND START MAKING REAL PROFITS!