Most common chart in the trading world - bearbulltraders.com · Basic Topics - Forex Candle Tail...

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Candlestick Charts

Types of Orders

Price Action Examples

Change Your Mindset

Trading Styles

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▪ Most common chart in the trading world

Basic Topics - Forex



Open Close

Open

High

Low

Close

Low

High

Bullish

Candle

Bearish

Candle


▪ Market Orders

▪ Orders that are placed in the current price and are executed immediately depending on the broker execution speed

▪ Limit Orders

▪ Orders that set the maximum or minimum price you are willing to pay for a security or pair

▪ Stop Orders

▪ Only are triggered when a certain price is reached not before that

▪ Essentially become Market Orders once the price reaches the set price



▪ Market Orders

▪ Method 1: One-Click Trading


Click this arrow to

open/close

One-Click Trading

Select lot size, click

buy or sell


▪ Market Orders

▪ Method 2: New Order Window


Open Order Window

Or press F9


▪ Limit Orders

▪ Method 1: On-chart Trading


Right-click below the current price

Buy Limit Order

Right-click above the current price

Sell Limit Order

Lot size determined by

one-click trading panel


▪ Limit Orders



Select Pending Order

Open Order Window

Or press F9

Select Limit Buy or Limit Sell

Specify Price

Can be modified as long as

not executed


▪ Stop Orders

▪ Method 1: On-chart Trading


Right-click above the current price

Buy Stop Order

Right-click below the current price

Sell Stop Order


▪ Stop Orders



Select Pending Order

Open Order Window

Or press F9

Select Stop Buy or Limit Sell

Specify Price

Can be modified as long as

not executed


▪ Modify orders on chart


Drag the Limit or Stop Order up and

down to modify manually

Right-click on the order and modify

the price


▪ Stoploss (SL)

▪ A set price specified by you to protect yourself and define risk

▪ A type of Stop Order which is triggered when the price reached a certain level

▪ Target Profit (TP)

▪ A set price specified by you that defines your profit




For a Buy Order: Drag Down and place

manual SL; Drag Up to set the TP

For a Sell Order: Drag Up and place

manual SL; Drag Down to set the TP

SL and TP setting

Right-click and modify to set the TP

and SL


▪ NO Indicators

▪ Read the Trader’s Behavior from the [Result=Candle Shape]


Candle Body

Large Body, no tails: Strong

consensus among traders

about the move

Small Body, large tails on

both sides: Trades are

split, indecision in control



Candle Tail

Large Tail at the bottom:

strong close far up from the low

of the candle. Lots of order

filled and price left the low,

but…

Large Tail at the top: strong

close far lower from the high

of the candle. Lots of order

filled and price got rejected

from the high, but…



Create a Story: Use Candles Before or After

Bullish Engulfing Candle: a

strong change in the consensus

to the upside, but…

Bearish Engulfing Candle: a


to the downside, but…


▪ Pay full attention to the facts! A good story contains all the facts not only part of the facts.


Bearish Engulfing Candle: a


to the downside, right??

Bullish Engulfing Candle: a


to the upside, right???


▪ Heuristics and Biases


Your Eyes See What You Want Them To See!




Your Eyes SeeWhat You Want Them To See!



See What Is Important To See


▪ Timeframe differentiates us

▪ And also “How Much Money You Have”


Short Term

Daily/Hourly/Min profits

Get in and out in a jiffy

Heavily Technicals

Use Indicators

News are important

Price Action is important

Loss and Wins

Retail Traders

Long Term

Monthly,Weekly profits

Cant’s get in and Out in a jiffy

Heavily Fundamentals

Use Indicators …haha

News are important

Create Price Action

Only Wins

Institutional Traders

Most common chart in the trading world - bearbulltraders.com · Basic Topics - Forex Candle Tail...

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