Forex Bonuses and How to Get Them?
Author: Victor Gryazin
To enhance their popularity and attract new clients, many broker companies offer various bonus programs. Bonuses are meant for receiving additional finances or making your trading conditions better. In this review, we will discuss several interesting bonus programs provided by the RoboForex broker company.
What is to be known about bonuses on Forex?
A bonus is a sum of money that the company deposits on your account at certain conditions. There are various types of bonuses: welcome bonuses, bonuses for depositing your account, money turnover, and others. Thanks to bonuses, you can try Forex without investing substantial sums.
First of all, bonuses seem attractive to beginner traders, but experienced players are also happy to use them – receiving additional income from a large number of trades, for example. Bonuses provide the trader with additional opportunities for making money on the market. You should study the conditions of bonus programs carefully and decide, which type suits you most.
Types of Forex bonuses
Let us discuss the three main types of Forex bonuses.
Welcome Bonus of 30 USD
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This is a bonus for new clients of the company. It is available to anybody provided that they have not yet participated in bonus programs of receiving seed money. The size of the bonus is 30 USD or 3,000 cent for cent accounts. The money may be used for trading without limitations.
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RoboForex enhances conditions of working with ECN-Pro and Prime accounts
Throughout the entire year of 2020, you will have the opportunity to trade at RoboForex on the best conditions! You can choose from two types of accounts, which meet the requirements of the most sophisticated traders.
ECN-Pro
This account type is intended for experienced traders, who require the highest possible speed and best quality of processing of each order under any market conditions.- Spreads are now similar to Prime accounts (from 0 pips).
- Minimum deposit from 10 USD.
- Maximum permissible leverage is set to 1:500.
- Commission 20 USD for the trading volume of 1 million USD.
- Trading instruments - 36 currency pairs, Cryptocurrencies, Metals, CFD on US stocks, Indices, and Oil.
- Trading platforms and terminals - MetaTrader 4/5, cTrader.
Prime
Trading accounts for "advanced" traders with the best trading conditions available at the company.- Tight spreads from 0 pips.
- Minimum deposited amount is now 100 USD (instead of 5,000 USD).
- Maximum permissible leverage is set to 1:300.
- Commission 15 USD for the trading volume of 1 million USD.
- Trading instruments - 28 currency pairs, Cryptocurrencies, Metals, CFD on US stocks, Indices, and Oil.
- Trading platforms and terminals - MetaTrader 4.
Take your trading operations to a brand new efficiency level!
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Elliott Wave Theory and Practice. Part 1
Author: Dmitriy Gurkovskiy
If the market were a linear structure, and we could detect the end of one trend and the beginning of the next one with 99% exactness, as well as to detect the target area of its development, then trading would be the easiest and most profitable business in the world.
Unfortunately, things are quite different. Of course, a long history of trading and market studies has taught us to define reversals more or less precisely, as well as calculate the expected length of the trend; however, for many traders, this is not enough. A great number of analysis techniques and methods helps a trader or analyst feel confident on the market; however, problems emerge when it comes to one's personal ability to apply those techniques to practice. Many do it well, but the majority, with their primitive remakes, end up stuck in a network of locks, trying to get untangled from useless positions.
Having studied several methods and applied them to practice, many get disappointed, not receiving the desired result, but never give up and keep looking for that one precise method. Sooner or later, many come to the Elliott Wave Theory because, in it, they see that method of market structure analysis that can virtually predict the future with a high level of precision. Their hopes are not void, as experts in the theory have repeatedly demonstrated astonishing results in trading and analysis. So, this article is devoted to Wave market analysis and the Wave Theory. We will get acquainted with the history of its appearance and development, its main statements and rules of analysis.
So, this article is devoted to Wave market analysis and the Wave Theory. We will get acquainted with the history of its appearance and development, its main statements and rules of analysis.
History of the Elliott Wave Principle
In the preface to his book about the Elliott Wave Principle, Hamilton Bolton wrote that he noted the efficacy of the Elliott Wave Principle in such unpredictable economic events as the depression, the great war, the recuperation after the war and the subsequent significant growth. Hence, he became sure that the Principle had fundamental significance.
The one to discover the wave principle of market development and formation was a US economist Ralph Nelson Elliott. Due to an illness that made him remain in bed, he could not find a decent occupation for a long time and got interested in technical analysis for trading on the stock market.
After a long period of studies, in 1938, he published a book called "The Wave Principle", in which he described the basics of the principles of market movement formation that he had discovered.
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RoboForex improves Bonus program conditions
We’ve improved the conditions of several Bonus programs. Take advantage of additional opportunities to make your trading operations as efficient as possible.
What improvements have been introduced?
“Classic bonus” up to 120% of the amount deposited to your account- The maximum bonus amount has been increased up to 120%.
- Restrictions on the minimum deposited amount have been removed.
- The trading volume amount required for withdrawing the bonus has been decreased twice.
“Profit Share” bonus – up to 60% of extra funds*- The maximum bonus amount has been increased up to 60%.
- Restrictions on the minimum deposited amount have been removed.
- The trading volume amount required for withdrawing the bonus has been decreased twice.
* - the Bonus can’t be transferred to accounts that already have other active funds received within frameworks of other promotions.
Conditions of joining our VIP program have been simplified
Privileges of the “Silver” level are now available to you if you have 3,000 USD on your accounts (instead of 10,000 USD).
Increased Cashback for Prime account holders
From now on, RoboForex clients with “Prime” accounts will receive Cashback (Rebates) up to 10% of the Company’s commission. Before that, the maximum Cashback amount for Prime accounts was 5%.
Improved Loyalty program for Partners
The minimum amount of payouts within frameworks of the updated Loyalty program is 10% of the partner’s commission instead of 5%.
Benefit from additional opportunities offered by improved Bonus programs offered by RoboForex to achieve your most ambitious trading goals!
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The Woodies CCI Strategy: Trading Without Price Charts
Author: Andrey Goilov
This trading method, created by Ken Wood, is a very simple system. It is even said that for using this method successfully, trading by the rules suggested by the author is enough. Earlier, we described the Turtle system, in which some students had also failed to succeed because they ignored some rules and skipped signals. Here, Woodie offers a whole set of rules: the trader only needs to follow them.
The work consists of searching for graphic patterns, drawing trendlines, and watching the breakouts of horizontal lines right on the indicator chart. I must note that we can do something similar with the RSI: we draw trendlines and receive leading signals in the case of a breakout right on the indicator chart; on the MACD, we search for graphic patterns, such as Head and Shoulders.
Description of the Woodies CCI indicator
Initially, the system was meant for trading CFDs, but with time traders started using it for other market types as well. Likewise, many other systems were originally designed for the stock market but are now successfully used on Forex or the crypto market.
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The system is based on two CCI indicators with different parameters. The instrument itself uses the cycles of price movements — in detail, you can read about the CCI in this blogpost. For the Woodies CCI strategy, the author takes two indicators with periods 14 and 6 and places them in one window. The first chart is called CCI and the second one — CCI Turbo. The latter is used for finding entry and exit signals.
Defining the trend with Woodies CCI
The system is meant for trend markets, hence, trades are opened in the direction of the prevailing trend. To define the trend, the system uses a histogram.
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If the bars are above zero and green, the trend is ascending. If they are below zero and red, the trend is descending. Note that the color of the bars does not change right after crossing zero; six subsequent bars above or below zero are required for the color to change.
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Trading Forex, Futures, and Stocks by Synergy Strategy
Author: Timofey Zuev
Forex is quite a complicated business sphere. Hence, many traders struggle for a long time on this market. One solution that may help you yield your first stable results is a maximally formalized trading strategies, the Synergy strategy being one example.
Description of Synergy
This strategy may be used not only on Forex but also on futures and stock markets if there are indicators for the respective trading terminals. For Synergy, timeframes from M1 to MN are suitable, however, I would recommend using it on a longer timeframe, such as H4. I must admit that this strategy works well only on strong movements without pullbacks.
Synergy desktop
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The desktop of the strategy looks as follows:
1. the levels of the Trader Dynamic Index indicator; level 50 acts as a filter for Synergy signals.
2. Market Base Line, the main line of Trader Dynamic Index, below which no signal to buy and above it - no signal to sell may form, by Synergy.
3. Volatility Bands.
4. Trade Signal Line, the line that crosses with the signal line most often.
5. RSI Price Line, the main signal line of the strategy that creates a part of Synergy trading signals by crossing the Trader Dynamic Index.
6. 5-period Smoothed Moving Average, built on High.
7. 5-period Smoothed Moving Average, built on Low.
8. bullish candlesticks by Heiken Ashi.
9. bearish candlesticks by Heiken Ashi.
A Synergy signal to buy for Forex, stocks, and futures
As it should be in a maximally formalized strategy, all rules of opening a long position are unequivocal. Here is the list of conditions for opening a buying position by Synergy:- a bullish Heiken Ashi candlestick must close above the 5-day Smoothed Moving Average (High);
- the RSI Price Line must simultaneously be above the following three lines: the Trade Signal Line, Market Base Line, and level 50 of the Trader Dynamic Index.
Examples of a signal to buy by Synergy
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Black arrows indicate the candlesticks at the closing of which all the above-mentioned requirements were fulfilled.
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Andrew's Pitchfork - Efficient Graphic Instrument
Author: Andrey Goilov
Andrew's Pitchfork is an instrument of graphic analysis based on the middle trendline and an equidistant channel. Unfortunately, this method of trading and analysis is not very popular among traders; however, it seems to be perfect for drawing a channel quickly and trading bounces off and breakouts of its borders.
Many traders try to draw such channels themselves based on price movements, and ofter change the rules of drawing depending on the situation. In the case of using Andrew's Pitchfork, the rules never change, regardless of any market movements, so the trader does not need to choose or customize such channels depending on the market conditions.
How to add Andrew's Pitchfork to the chart?
The instrument is available in the standard settings of MetaTrader 4. To use the indicator, just click Insert on the terminal and choose Andrew's Pitchfork. Then, choose three points to draw the channel, and it will become available on the price chart.
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As a rule, the first point is the beginning of the trend, the second point is the high from which a correction has started (if we are speaking about an uptrend) and the third point is the low where the falling has stopped.
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If there is a downtrend on the chart, then the second point will be the low from which the growth has begun, and the third point will be the high where the prices reversed and falling has started.
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Getting Acquainted with CCI Indicator
Author: Victor Gryazin
In this review, we will discuss an interesting technical indicator CCI (Commodity Channel Index). This indicator helps to find an approaching correction or reversal on the price chart.
What is CCI needed for?
The CCI (Commodity Channel Index) indicator was invented in 1980 by a trader Donald Lambert. The author meant his indicator for commodity markets, however, it may successfully be used on other financial markets, such as currency, stock, etc.
The CCI indicator measures the value and the amplitude of price deviations from average values. Large CCI values mean that the price is much higher than average and small values indicate that it has fallen significantly. In essence, CCI may be attributed to the group of classic oscillators.
The indicator helps to understand in what condition the financial instrument currently is: overbought or oversold. CCI measures the distance between the price and a set Moving Average - this is just another way to say that the indicator measures the deviation of the price from its average values.
The CCI indicator is situated in a separate window under the price chart and consists of the main line (CCI) and two areas - oversold and overbought. The indicator values vary from -300% to +300%. At the levels of -100% and +100% signal lines are drawn, setting the oversold (from -100% and below) and overbought (from +100% and higher) areas; the central spine of the indicator is 0%.
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Calculation formula and settings
The CCI indicator is built in most popular trading terminals. It is represented in a separate window under the price chart. In popular platforms MetaTrader 4 and MetaTrader 5, CCI is added to the price chart via the Main Menu: Insert - Indicators - User - CCI.
For CCI calculation, you must first find the so-called "typical price".
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Turtle Strategy: the Oldest Way of Trading
Author: Andrey Goilov
Nowadays, there are plenty of strategies and trading systems. Some are simple, some are very complicated, with lots of indicators. You can also work out your approach to market analysis, using the instruments of tech analysis, such as trendlines or support and resistance levels. Anyway, a good system is not necessarily complicated, with a long list of rules.
A good example is the Turtle system, designed by Richard Dennis in the 1980s. What is more, having a bet with his partner, he gathered a group of beginners and helped them become professional traders. However, it is not to forget that even a high-quality trading system does not guarantee you a profit. It is important to comply with the rules of money management and follow your strategy.
Unfortunately, not all traders make a profit on the same charts and the same timeframes. This shows that the success of trading does not fully depend on the chosen system - much depends on the personality of the trader. One trader will doubt and skip a trade, while another will enter the market even after a series of losing trades.
Description of the Turtle trading system
The system is a trend strategy for daily charts. This is not surprising: earlier, many traders used the Moving Average, trying to catch strong trend movements. For example, a divergence on the MACD is a good signal, working perfectly in a flat, but as soon as a strong trend begins, the prices simply move in one direction, and such a trend may be very quick. In this situation, the MACD signals may not be very efficient, and the MAs will make us hold the positions in the direction of this movement as long as possible, which will bring us a good profit.
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The main approach of the Turtle strategy is simple: you only need to let the profit grow and close losing trades. This looks like a simple rule, but not many can follow it. What is more, psychologically, any person maximally hopes for a positive result.
For example, if a beginner trader loses part of the profit, they may be very disappointed and will try to close the position with a minimal profit as quickly as possible, even if the system does not give any exit signal. And if the beginner receives a losing position, they may hold it for a long time, hoping for a soon reversal.
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RoboForex: changes in trading schedule (switch to Daylight Saving Time and International Women's Day)
We’re informing you that due to the public holiday in Russia, International Women's Day, USDRUB will be traded according to the changed* schedule on March 9th, 2020. In addition to that, on March 8th, 2020, the USA will transfer to the daylight saving time, European countries will switch to the summer time on March 29th, 2020. Thereby, there will be more changes to the trading schedule*.
RoboForex
Trading schedule on Metals (XAUUSD, XAGUSD)- From March 9th to 27th, 2020, trading on Metals will be opened and closed 1 hour earlier than usual (server time).
Trading session (server time): 12:05 AM - 10:59 PM. - Starting from March 30th, 2020, Metals will be available for trading within the operating range of the contract specifications.
Trading schedule on CFDs on US indices- From March 9th to 27th, 2020, trading on CFDs on US indices will be opened and closed 1 hour earlier than usual (server time).
Trading session (server time): 02:00 AM - 10:15 PM. - Starting from March 30th, 2020, CFDs on indices will be available for trading within the operating range of the contract specifications.
Trading schedule on CFDs on oil (Brent and WTI)- From March 9th to 27th, 2020, trading on CFDs on oil will be opened and closed 1 hour earlier than usual (server time).
Trading session (server time): 02:00 AM - 10:15 PM. - Starting from March 30th, 2020, CFDs on oil will be available for trading within the operating range of the contract specifications.
Trading schedule on CFDs on American stocks- From March 9th to 27th, 2020, trading on CFDs on American stocks will be opened and closed 1 hour earlier than usual (server time).
Trading session (server time): 03:31 PM - 09:59 PM. - Starting from March 30th, 2020, CFDs on American stocks will be available for trading within the operating range of the contract specifications.
Trading schedule on USDRUB- March 9th, 2020 – no trading.
- March 10th, 2020 – trading starts as usual.
- Starting from March 30th, 2020, the USDRUB currency pair will be traded according to a new schedule.
Trading session (server time): 10:00 AM - 6:30 PM.
Please, note, that on March 13th, 20th, and 27th, 2020, trading on all instruments will be closed at 11:00 PM server time
R Trader
Trading schedule on US stocks, CFDs on US stocks, ETFs, and CFDs on ETFs- From March 9th to 27th 2020, trading on the above-mentioned instruments will be opened and closed 1 hour earlier than usual (server time).
Trading session (server time): 03:30 PM - 10:00 PM. - Starting from March 30th 2020, these instruments will be available for trading within the operating range of the contract specifications.
Trading schedule on CFDs on US indices (US30, US500, NAS100)- From March 9th to 27th 2020, trading on CFDs on US indices will be opened and closed 1 hour earlier than usual (server time).
Trading session (server time): 09:00 AM - 10:00 PM. - Starting from March 30th 2020, CFDs on US indices will be available for trading within the operating range of the contract specifications.
Trading schedule on USDRUB- March 9th, 2020 – no trading.
- March 10th, 2020 – trading starts as usual.
Trading schedule on Forex currency pairs- From March 9th to 27th, 2020, trading will be stopped for an interval of 15 minutes 1 hour earlier than usual (server time).
Interval period (server time): 10:59 PM - 11:15 PM. - Please, note, that on March 13th, 20th, and 27th 2020, trading on all currency pairs will be closed at 11:00 PMserver time.
Please, take into account these changes in schedule when planning your trading activity.
* – This schedule is for informational purposes only and may be changed.
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- From March 9th to 27th, 2020, trading on Metals will be opened and closed 1 hour earlier than usual (server time).
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RoboForex increases the maximum order volume on the Company’s trading accounts
RoboForex has increased the maximum available order volume values. Changes are effective as of February 28th, 2020 and will be applied to MT4/MT5-based accounts.
The maximum order volume has been increased for all instruments:- Standard accounts (Pro-Standard, ECN-Pro NDD, Prime) - 500 lots.
- Cent accounts (Pro-Cent) - 10,000 lots.
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How to Trade Trendlines?
Author: Andrey Goilov
Trendlines pertain to classic tech analysis. Many traders add such lines to their strategy, using them not only on the price charts but also on the indicator graphs. We can say that a trendline is one of the simplest instruments used for chart analysis. At the same time, regardless of its simplicity, this instrument is highly efficient.
Trendlines can show where to enter in the direction of the trend and where the current trend might end. The analysis of the price chart itself is a good advantage: there is an opinion that signals from the indicator are lagging, and it is the price that is of special importance. However, we must keep it in mind that all trading options must be customized, and various ways of using both graphic analysis instruments and indicator signals should be tried.
Ascending trendline
An ascending trendline is a line drawn through the lows from left to right. The second low must be higher than the first one. To draw the line, two points suffice.
Many authors single out the third point as the confirmation that the trendline has been drawn right. However, at the moment when the price touches the line, many traders try buying already, not waiting for the confirmation. As a rule, buying at a bounce off the trendline always happens with a small Stop Loss, so the risk is not that high. That is why most traders somewhat neglect the confirmation.
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As an example, let us look at the trendline on the chart of the Litecoin. To draw it, we take two marginal lows and draw a line through them. It is important to extend the line to the right so that we could see the moment of testing this line by the price. In our example, at the moment of testing the trendline, the price bounces and goes on growing. We can say that the uptrend continues until the trendline is broken.
Descending trendline
A descending trendline is drawn through highs. To draw it, we need two points on the chart, the second one being lower than the first one.
Here, we should also remember that it is wise to wait for the third line to form and confirm that the descending trendline has been drawn right. Anyway, we should remember that drawing trendlines is an art and thus subjective. That is why different traders can draw different lines that are important to them. The more experienced the trader is, the better they draw the lines.
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How to Trade Support and Resistance Levels
Author: Andrey Goilov
Horizontal support and resistance levels are at the base of classical tech analysis. Many traders despise such a simple instrument and avoid spending their time on studying the basics of graphic analysis. However, the influence of the horizontal levels on the price movements is hard to deny.
Any trend is a sequence of support and resistance levels, so we can see tests and breakouts of such important areas every day. I recommend paying attention to this aspect of analysis and studying this instrument to be able to detect these levels.
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Putting it very simply, near the support level you should buy while at the test of the resistance area, you should sell.
What is the support level?
In theory, a support level is an area below the current market price where the players can buy; this area is highly probable to remain under the pressure of sellers. T the moment of testing the support level, the prices push off it and start growing; hence, the pressure from sellers shrinks as they cannot secure under the level to continue the decline. We can say that buyers are stronger.
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As a rule, such levels can be detected on the chart beforehand. We can use both the daily and hourly charts. However, experienced traders say that longer timeframes are more important. For example, a support level on D1 will be much stronger than the support level on M5.
On D1, the prices can be testing the support level for weeks before the bears manage to push the price down. As for M5, one test may be enough to secure below this level and move to the next one.
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RoboForex offers its clients access to bank transfers via SEPA and SWIFT
RoboForex has expanded your opportunities of operations with trading accounts. From now on, you can deposit and withdraw funds by means of bank transfers via SEPA and SWIFT systems.
Benefits of international bank transfers
SEPA
is a system, which operates in the European Economic Community and allows to quickly transfer funds between different accounts in EUR without any additional fees.
SWIFT
helps you to easily command your finance and make transfers between accounts in different banks all over the world in currencies that are convenient for you.
Join the global financial community and explore new opportunities together with RoboForex!
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RoboForex adds new assets and analytical tools to R Trader
We’ve added more than 500 new assets and updated analytical tools of our multi-asset trading terminal R Trader.
More about new features in R Trader:- More than 500 CFDs on stocks of European companies
More than 500 new CFDs on stocks of companies from 11 European countries, such as Volkswagen, Peugeot, L'Oreal, Orkla, and Nokia are now available in R Trader. - Tick charts
Analyze “market pulse” by means of new tick charts that show the slightest fluctuations of the chosen asset price. - Updated Watchlists
A new feature in Watchlists: tracking updates in “Тоp Gainers”, “Top Losers”, “Top Volumes” with 5-, 30-, and 120-minute intervals.
More detailed information about all instruments and features can be found on the platform’s page. We’re actively continuing to upgrade and improve our R Trader trading terminal, so follow the news!
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- More than 500 CFDs on stocks of European companies
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