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Market Hours
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Upcoming Holidays in June 2024
Fusion Markets


This June,  Korean Memorial Day (6th June), Kings Birthday / Tuen Ng Day (10th June), Idul Adha (17th - 18th June), and Juneteenth National Independence Day (19th June) are upcoming holidays that will affect standard market hours. Please take the following holiday hours into account and adjust your positions accordingly.



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Please note the following changes are based on MT4 server time (GMT +3).  



What does this mean for you? 


If you trade the markets above then you’ll need to be aware of the days the market is closed or if there are changes to opening hours. Additionally, please note that there will be reduced liquidity and some spreads may widen on some products during these periods. If these are not markets you typically trade, then these changes will not affect you and you can continue trading as usual.  

 

Do I need to do anything? 


The main thing you need to do is be prepared for changes in market hours and ensure you have adjusted your positions accordingly. You must also remain aware of the potential changes to liquidity and spreads during this time. Please make sure your account has been sufficiently funded. Log into your Client Hub here to fund your account. 

 

Questions? 


Don’t worry we will still be working around the clock, our support team is available 24/7, so please reach out to us if you have any questions or concerns. 
 
Thanks for trading with Fusion Markets. Happy Holidays and Happy Trading.


Holiday Hours
Trading Tips
Economic Events
31.05.2024
General
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Fusion Markets Celebrates 5 Years
Fusion Markets

Five years ago, if you had told us that Fusion would be trading over $130 billion USD in volume monthly or served tens of thousands of clients around the world, we would have laughed. Reflecting on our journey, it's astonishing to see how far we've come from those early days in a modest WeWork office in the heart of Melbourne.

 

To mark this milestone, we want to give back to you, our valued clients. You are the ones who have helped us grow into one of the best forex brokerages in the industry, and you deserve to celebrate with us. That's why we're offering 10% rebates on all commissions for trades opened on May 31st, Fusion’s birthday. Read more about it here.



Fusion Markets 5 Year Promotion 


While we still have a long way to go to achieve our mission of making low-cost trading available to everyone, everywhere, it has been an incredible journey so far. We want to share with you how Fusion has evolved into one of the world’s leading low-cost trading platforms, serving traders in over 160 countries.



Humble Beginnings


Moving Up


The Future


The 5 Year Anniversary Promotion


A Timeline of Our Proudest Moments




Humble Beginnings


It all started with me (Phil) in January 2019 in a small co-working space, working with our development team to craft what would eventually become the client hub and website. Once we were able to go live and accept clients, I was joined by my friend and former colleague, David Swinden (our COO). To keep our client’s costs low, we had to keep things pretty lean back then. I look back fondly at when we were celebrating some new milestone, cutting an almond croissant (from legendary Melbourne Lune, of course) in half to make every dollar count. We both had newborns, so our routines were early mornings and late nights after the kids’ bath. We were exhausted, but we were driven by the ambition to build something extraordinary.



Fusion's First Office

Fusion Market's First WeWork Office



We already knew what we needed to do to deliver radically low costs, so we weren't worried about that. We’d spent over two decades between us helping build some of Australia’s biggest brokers. When we launched, traders immediately recognised the value we were offering. Providing $4.5 commissions with 0.0 spreads in a market dominated by $7 commission brokerages was an easy value proposition. But we didn’t expect it to go as well as it did. Traders seeking more profitability on their trades came to us in droves. In our first year, we won a number of awards like “Best MT4 Broker” and “Lowest Spreads Broker” from Brokerchooser. We were on our way, delivering value to our traders from day one.



Moving Up


As our team grew, so did our need for space. We moved into our first official office in between multiple Melbourne COVID lockdowns, located in Cremorne, Melbourne’s startup mecca. What we didn’t know at the time was that our neighbour was a bustling personal training studio. The middle of the day often brought the sound of loud techno music and heavy deadlifts constantly thudding against the walls, reverberating throughout the whole office.



Fusion Markets First Official Office

Building desks and getting set up in Fusion Markets' First Official Office



Despite the noise, we thrived. Our team—experts in their fields with an insatiable hunger for success—channelled this expertise directly to our clients. In that office, we introduced MetaTrader 5, $0 Commission US Share CFD trading, Fusion+ (our proprietary copy trading platform), and several industry-leading trading tools. We were moving fast with no signs of slowing down, just the way we liked it.


The next turning point came when we moved to the big leagues with our office in South Yarra. This move not only signified our growth but also underscored our commitment to providing a better working environment for those who were on the journey with us and set us up for the future with space for 60+ desks. We wanted our team to be at their best to deliver the best possible trading experience for our clients and we found it in our new digs.



South Yarra HQFiring on all Cylinders at Fusion Markets' South Yarra HQ



We started hitting our stride. Our dedication to excellence and customer satisfaction drove us to introduce several new products and services: we launched our exclusive Live Spreads tool, platforms such as cTrader, TradingView, extended our support hours to 24/7, and even updated our Client Hub. Our clients were getting bombarded with new improvements and features. Those awards from our first year? We're humbled to have won them and more every year since.

 

It's hard to encapsulate five years in a short blog post, but I wanted to highlight the essence of who we are and how we got here. Perseverance, finding the best people around the world and an unyielding commitment to saving our clients' money are the cornerstones of our journey and our current identity. That will never change.



The Future


The most exciting aspect of this journey is that we’re really just getting started. This year, we have some of our most exciting features in the pipeline: automating client withdrawals (24/7), revamping our refer-a-friend program, and launching our new spot cryptocurrency exchange, Day1x (Click the link to join the waitlist). And that’s only scratching the surface.

 

If you’re reading this (thank you for reading this far!), you are a core part of why we’re here today and a beneficiary of our relentless efforts to provide an unparalleled trading experience you won’t find anywhere else. To show our gratitude, we’re making sure you get to celebrate with us. Read more about our 5 Year Anniversary offering below.



The 5 Year Anniversary Promotion



Fusion Markets 5 year Anniversary


We’re giving you 10% rebates on all commissions for trades opened on May 31st. This will be full round-turn commissions, so you don’t need to close your trade on the 31st. As long as it’s opened on May 31st (at any part of the trading day—00:01 to 23:59 server time), you’ll get a 10% rebate credited to your account (for both Zero and Classic accounts).

 

We’ve seen other companies celebrate their anniversaries but never give anything back to those who helped get them there. That’s what this birthday is all about. It's saying “thank you” by going to the heart of what makes Fusion tick; putting that little bit extra back into your pocket.

 

You can read the full terms and conditions here.

And here for ASIC Pro traders.



A Quick Recap of Some of Our Proudest Moments


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Forex Trading
22.05.2024
Trading and Brokerage
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Index CFD Dividends | Week 10/06/2024
Fusion Markets


Please see the table below for any upcoming dividend adjustments on indices for the week starting June 10th.


Weekly Dividends 11/06/2024

* Please note these figures are quoted in the index point amount

 

What is a dividend?


Dividends are a portion of company earnings given to shareholders. As indices are often composed of individual shares, an index dividend pays out based on individual shares proportional to the index’s weighting.


Trading on a CFD Index does not create any ownership of the underlying stocks, or an entitlement to receive the actual dividends from these companies.

 

What is an ex-dividend date?


An ex-dividend date is the cut-off date a share must be owned in order to receive a dividend. If an investor buys a share after the ex-dividend date, then they will not be entitled to earn or pay the next round of dividends. This is usually one business day before the dividend.

 

Do dividends affect my position?


Share prices should theoretically fall by the amount of the dividend. If the company has paid the dividend with cash, then there is less cash on the balance sheet, so in theory, the company should be valued lower (by the amount of the dividend).


Due to the corresponding price movement of the stock index when the ex-dividend date is reached, Fusion must provide a 'dividend' adjustment to ensure that no trader is positively or negatively impacted by the ex-dividend event.

 

How will the dividend appear on my account?


The dividend will appear as a cash adjustment on your account. If your base currency is different from the currency the dividend is paid out in, then it will be converted at the live FX rate to your base currency.

 

Why was I charged a dividend?


Depending on your position, given you are holding your position before the ex-dividend date, you will either be paid or charged the amount based on the dividend. Traders shorting an index will pay the dividend, whereas traders who are long the index will be paid the dividend.

 

Why didn’t I receive my dividend?


You may not have received a dividend for a number of reasons:


- You entered your position after the ex-dividend date

- You are trading an index without dividend payments

- You are short an index


If you believe the reasons above do not apply to your position, please reach out to our support team at [email protected] and we’ll investigate further for you.




Forex Trading
CFD
Dividends
22.04.2024
Trading and Brokerage
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Inside the Mind of a Successful Trader: Understanding the Psychology Behind Forex Success
Fusion Markets

Forex trading, with its promise of financial freedom and independence, has captivated the minds of millions around the globe. Yet, beneath the surface of charts, indicators, and currency pairs lies a complex landscape shaped not just by market dynamics but by the intricate workings of the human mind.  

Success is not solely dictated by market knowledge or technical prowess but by the ability to master one's own trading psychology. This article delves deep into the psyche of successful forex traders, exploring the mindset, habits, and strategies that set them apart from the rest.  

Whether you're a novice trader taking your first steps into the world of forex or an experienced investor seeking to enhance your trading performance, understanding the psychological aspects of trading is paramount to achieving lasting success. Join us as we unravel the mysteries of the human mind and discover the keys to unlocking your full potential in the forex market. 



Contents 


Defining Success in Forex Trading

The Role of Psychology in Trading

Characteristics of Successful Traders

Embracing Emotional Intelligence

Developing a Winning Mindset

The Psychology of Risk Management

Learning from Mistakes

Conclusion




Defining Success in Forex Trading


The concept of "success" in forex trading is a bit of a hot topic. Some see it as being all about the money, while others argue it's more about staying consistent, managing risks, and growing as a trader. Plus, success means different things to different people, so what floats one trader's boat might not do it for another.

A “successful” forex trader possesses discipline, focus, determination and emotional resilience. This enables them to take a calculated approach to their trading, ultimately producing a consistent performance over the long-term.

Every trader will encounter losses. It’s how you manage your risk that will determine your outcome from these losses. In addition to managing your risk, having a psychological plan in place to prevent your emotions from taking control is also important. For example, some day traders have a daily loss limit that, if reached, results in them walking away for the day and trading the next day. Others might have a psychological limit of 4 losing trades in a row and so forth.

A successful trader is ‘successful’ over the long-term. Making profits is only one piece of the puzzle. You cannot be successful in profiting over the long-term without being successful in risk management and psychological behaviour.

 

The Role of Psychology in Trading


At the heart of successful forex trading lies the understanding of one's own trading psychology and the ability to manage emotions effectively. 

The psychology of trading encompasses a range of factors, including emotional intelligence, mindset, and behaviour. Successful traders understand the importance of emotional regulation and employ strategies to remain calm and focused during times of market volatility. By developing self-awareness and cultivating a positive mindset, traders can overcome psychological barriers and make rational decisions based on analysis rather than emotion.

Characteristics of Successful Trader


Successful forex traders share common traits that set them apart from the rest. These include discipline, patience, adaptability, and a willingness to accept losses as part of the trading process. They approach the market with a clear plan, stick to their strategies, and remain unphased by short-term fluctuations.

Discipline is the most critical characteristic of successful traders. It involves following a trading plan meticulously, adhering to risk management principles, and avoiding impulsive decisions. Patience is also essential, as successful traders understand that success in forex trading is a marathon, not a sprint. They wait for high-probability trading opportunities and avoid chasing after quick profits.

Adaptability is another hallmark of successful traders. They recognise that the forex market is constantly evolving, and they adjust their strategies accordingly to stay ahead of the curve. Whether it's adapting to changing market conditions or refining their trading approach based on new information, successful traders remain flexible and open-minded.

In addition to the above, there are other catalysts outside of trading that contribute to the success of a trader. On, of which, is maintaining a good sleeping habit. With the forex market trading 24/5, it’s impractical for most traders to stay away all day and night. Sleep deprivation can cause many issues in all forms of life, and trading is no different.

Embracing Emotional Intelligence 


Emotional intelligence plays a pivotal role in forex trading, enabling traders to recognise and manage their emotions effectively. Successful traders cultivate self-awareness, self-regulation, and empathy, allowing them to make rational decisions even in high-pressure situations. By understanding their emotional triggers, they can maintain composure and avoid impulsive actions. 


Self-awareness involves recognising one's emotions and their impact on trading decisions. Successful traders are attuned to their emotional state and take proactive steps to prevent emotions from clouding their judgment. Self-regulation is the ability to control impulses and maintain discipline in the face of temptation. Successful traders develop strategies to manage stress, anxiety, and other negative emotions that can interfere with trading performance. 


Empathy is also important in forex trading, as it allows traders to understand the perspectives and motivations of other market participants. By putting themselves in the shoes of other traders, successful traders can anticipate market movements and react accordingly. Empathy also helps traders build relationships with other market participants, fostering collaboration and mutual respect. 


Successful traders also have an understanding of cognitive and confirmation biases. We recommend all traders read our two-part series on the 10 hidden biases here: 



Developing a Winning Mindset


A winning mindset is essential for success in forex trading. Successful traders maintain a positive attitude, focus on continuous improvement, and view challenges as opportunities for growth. They approach each trade with confidence, knowing that setbacks are temporary and part of the learning curve.

A winning mindset is characterised by several key traits, including optimism, determination, resilience, and good habits. Optimism involves maintaining a positive outlook, even in the face of adversity. Successful traders believe in their ability to succeed and remain confident in their trading approach, regardless of short-term setbacks.

Determination is the drive to succeed despite obstacles and setbacks. Successful traders are tenacious in pursuit of their goals and refuse to be deterred by temporary failures. They view challenges as opportunities for growth and approach them with a sense of determination and perseverance.

Resilience is the ability to bounce back from setbacks and adapt to changing circumstances. Successful traders understand that losses are inevitable in forex trading and view them as learning experiences rather than failures. They remain resilient in the face of adversity, quickly recovering from losses and maintaining their focus on long-term success.

And finally, building good habits is paramount to becoming a successful trader. “It takes 21 days to form a habit and 90 days to form a lifestyle”. Understand what your identity-based habits are and how to build them to your arsenal of tools to conquer the market.

The Psychology of Risk Management


Risk management is a cornerstone of successful forex trading, and mastering it requires a deep understanding of one's risk tolerance and the ability to make calculated decisions. Successful traders prioritise capital preservation and employ risk management strategies such as setting stop-loss orders, diversifying their portfolios, and sizing their positions appropriately. By limiting their exposure to risk, they can protect their capital and avoid catastrophic losses.

Effective risk management involves several key principles, including diversification, position sizing, and risk-reward ratio. Diversification involves spreading risk across multiple assets or currency pairs to reduce the impact of any single trade or market event. Successful traders diversify their portfolios to minimise risk and maximise returns over the long term.

Position sizing is the process of determining the appropriate amount of capital to allocate to each trade based on risk tolerance and market conditions. Successful traders carefully assess the potential risks and rewards of each trade and adjust their position sizes accordingly. By sizing their positions appropriately, they can minimise losses and maximise profits while preserving capital.

Risk-reward ratio is the ratio of potential profit to potential loss on a trade. Successful traders seek to maintain a favourable risk-reward ratio on each trade, typically aiming for a ratio of at least 2:1 or higher. By consistently seeking trades with a positive risk-reward ratio, they can achieve consistent profits over time while minimising losses.

Learning from Mistakes


Mistakes are inevitable in forex trading, but successful traders view them as valuable learning opportunities rather than failures. They analyse their trades objectively, identify areas for improvement, and adjust their strategies accordingly. By embracing a growth mindset, they continuously refine their skills and adapt to changing market conditions. Every mistake becomes a stepping stone towards greater proficiency and success.

Learning from mistakes involves several key steps, including reflection, analysis, and adaptation. Successful traders take the time to reflect on their trades and identify any patterns or recurring mistakes. They analyse their trading journals and performance metrics to gain insights into their strengths and weaknesses.

Based on their analysis, successful traders adapt their strategies and techniques to address any areas for improvement. They may seek out additional education or training, refine their trading approach, or implement new risk management strategies. By learning from their mistakes and making adjustments, they can improve their trading performance over time and achieve greater success in the forex market.

Conclusion


In the dynamic world of forex trading, success is not solely determined by market knowledge or technical prowess but by the ability to master one's own trading psychology. By understanding the psychological factors that influence trading behaviour, traders can develop the mindset, habits, and strategies necessary for long-term success.  

Remember, that everyone faces the same challenges in the markets. Only those who can overcome the psychological barriers in trading end up succeeding over the long-term. Sometimes in bizarre market conditions, or on an off day, it’s better to take a step back and examine why we’ve been behaving and thinking as we have. 


Whether you're a novice trader or an experienced investor, cultivating emotional intelligence, embracing risk management, and maintaining a winning mindset are key to thriving in the competitive forex market. As you embark on your trading journey, remember that success is not just about profits but about the journey of self-discovery and growth. 


Forex
Trading Psychology
12.04.2024
Pine Script
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How to Use Pine Script for Trading on TradingView
Fusion Markets


There are a number of ways to automate your trading with the programming language you use depending on the platform you trade on. For example, MetaTrader 4/5 traders use EAs coded in mql4/5, cTrader uses cbots coded in c#, and TradingView traders use Pinescript.  



Pine Script is a domain-specific language developed by TradingView that allows traders to create custom technical indicators and strategies, turning the platform into a powerhouse for market analysis.  



In this blog post, we will walk you through everything you need to know about using PineScript for Forex trading. 



Contents


What_Is_PineScript

Getting Started

PineScript Syntax

Conditional Statements and Loops

Developing Strategies

Backtesting Your Strategy

Common Pitfalls to Avoid

Conclusion



What Is PineScript



PineScript is a coding language developed by TradingView specifically for creating indicators and strategies on their platform. It is similar to other programming languages, but with its own unique syntax and functions tailored for trading analysis.  



Don't let the idea of coding scare you – the syntax is similar to other popular languages like JavaScript and C++, making it easy for traders with coding experience to pick up. Plus, with the large online community and resources available, you can easily learn and use Pinescript in a matter of days. 




Getting Started




To start using PineScript on TradingView, you will need a TradingView account. If you don't have one yet, go ahead and sign up – it's free! Make sure to connect it to your Fusion Markets account. Once you have an account, navigate to the "Pine Editor" tab on the top menu bar. 



Next, open the PineScript editor on TradingView and choose from a variety of templates or start from scratch. The editor also includes a preview function that allows you to see how your code will look on a chart in real-time. 



You will also need to have a basic understanding of coding concepts such as variables, functions, and conditional statements. If these terms sound foreign to you, don't worry we’ve got you covered!  



 


PineScript Syntax



At the core of Pine Script's functionality is its syntax, which forms the building blocks of any script. Its power lies in its simplicity and flexibility, enabling users to craft a wide array of technical analysis tools.  


Here are a few main things that you should know: 



Variables and Data Types 


Variables in Pine Script play a crucial role in storing and manipulating data. They come in different types such as integers, floats, bools, strings, and series. Variables in PineScript are declared using the "var" keyword, followed by the variable name and an equal sign (=) before the value assigned to it. For example: `var myVariable = 10;`.   



Understanding these data types is fundamental. For instance, a series type is used for time series data, enabling the creation of moving averages, oscillators, and more. 


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In this example, ` length` is an integer variable that stores the input value for the length of the moving average, and ma is a series variable that stores the moving average data. 

 



Functions and Operators 


Pine Script offers an extensive range of built-in functions and operators for performing calculations and executing specific actions. Functions in PineScript start with the "study" keyword, followed by the name of the function and parentheses. For example: `study("My Custom Indicator")`   



Functions like ` sma() ` (simple moving average) and ` plot() ` aid in technical analysis by computing indicators and displaying plotted lines on the chart.  



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Here, ` sma() `, ` stdev() `, and arithmetic operators (` + `, ` ` -) are used to compute Bollinger Bands by calculating the moving average, standard deviation, and upper and lower bands. 

 




Conditional Statements and Loops 



Conditional statements and loops are essential for decision-making and iterative processes. Using ` if-else` statements and ` for ` loops, traders can create dynamic conditions and repetitive actions within their scripts. 



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In this snippet, an RSI (Relative Strength Index) script displays the RSI values along with overbought and oversold levels. Conditional statements can be applied to trigger alerts or make trading decisions based on RSI levels crossing certain thresholds. 


 

Understanding variables, functions, conditional statements, and loops is pivotal for crafting effective indicators and strategies. With a solid grasp of PineScript syntax, traders can develop personalised trading tools, enhancing their analysis and decision-making in the financial markets. To learn more about the syntax, please refer to the PineScript language manual. 

 



Creating Custom Indicators 



One of the most popular uses for PineScript is creating custom indicators. This can range from simple moving averages to complex algorithms that incorporate various technical analysis tools. The possibilities are endless, and with some creativity and testing, you can come up with unique and effective indicators for your trading strategy. 



 

Now, let's walk through the process of creating a simple moving average (SMA) indicator using Pine Script. An SMA is a popular trend-following indicator that smoothens price data to identify the underlying trend. 



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In this script: 


  • We specify the title, short title, and overlay properties for the indicator. 

  • We create an input variable, length, that allows the user to customise the length of the SMA. 

  • We calculate the SMA using the sma() function. 

  • We use the plot() function to display the SMA on the chart. 

 


This is just a basic example to get you started. Why don’t we take it up a notch? 
 


Let’s create a strategy that uses the 200 Exponential Moving Average (EMA) as a basis for making buy (long) signals when the price crosses above this moving average. 



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Let's break down the code: 



  • Setting up Strategy Parameters: The script sets the strategy's title, short title, and indicates that it's an overlay on the price chart using strategy(). 

  • Calculating the 200 EMA: It defines a 200-period EMA (ema200) based on the closing prices. 

  • Plotting the 200 EMA: The script plots the 200 EMA on the chart in blue. 

  • Identifying EMA Crossover: It calculates the points where the closing price crosses above the 200 EMA using ta.crossover() and assigns these points to the variable emaCrossover. 

  • Strategy Entry Conditions: When the crossover happens (i.e., when the closing price crosses above the 200 EMA), the strategy generates a "Buy" entry signal using strategy.entry() with the condition when=emaCrossover. 

  • Plotting Buy Signals: The script uses plotshape() to plot small green triangles below the price bars where the crossover condition is met. 

 


Here’s how it looks on a chart: 


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EURUSD Weekly Chart 



Kindly be aware that the script provided above serves as an example, and it will require adjustments to align with your particular objectives. 

 

In summary, this script creates buy signals (represented by green triangles below the price bars) whenever the closing price crosses above the 200-period Exponential Moving Average. This strategy assumes that such crossovers might indicate a potential upward trend and trigger a buy action. 

 

As you can see, Pine Script is incredibly versatile, and you can create highly sophisticated indicators with complex logic to match your trading strategy.





Developing Strategies

Aside from creating indicators, PineScript also allows you to develop fully automated trading strategies. By combining different technical indicators and conditions, you can create a set of rules for buying and selling that can be backtested and optimised for maximum profitability. This feature is especially beneficial for traders who prefer a systematic approach to trading. 


 

Tips and Tricks 


  • Start with a clear and well-defined trading strategy: Before jumping into coding, it's essential to have a solid understanding of your trading approach and goals. A clear strategy will make it easier to translate it into code and avoid any confusion during development.  

  • Use proper risk management techniques: No matter how well-crafted a strategy is, managing risk is crucial in trading. PineScript offers functions for setting stop-loss and take-profit levels, as well as position sizing based on risk percentage. Utilising these functions can help minimise losses and maximize gains.  

  • Test and refine: Developing a successful trading strategy takes time, patience, and continuous testing. Backtesting with PineScript allows for this refinement process, where traders can analyse the results of their strategies and make necessary adjustments until it meets their expectations.  





Backtesting Your Strategy


Once you've written your Pine Script, it's time to test its performance in various market conditions. TradingView makes this process seamless. You can choose the time frame and historical data you want to test your strategy against. The platform will then run your script against that data, showing you how your strategy would have performed. It helps identify any flaws or weaknesses in the strategy and allows for adjustments before risking real capital. This can significantly increase the chances of success in live trading. 





Common Pitfalls to Avoid


While Pine Script provides endless possibilities for developing your strategies, there are common pitfalls to avoid: 



  • Over-Optimisation: Tweaking your strategy too much based on past data can lead to over-optimisation. Your strategy may perform well historically but fail in real-time trading. 

  • Neglecting Risk Management: Not paying enough attention to risk management can lead to significant losses. It's crucial to protect your capital at all costs. 

  • Lack of Patience: Don't rush into live trading. The more time you spend testing and refining your strategy, the better it will perform in the long run. 

  • Ignoring Market Conditions: Markets are not static, and what works in one type of market might not work in another. Keep an eye on market conditions and be ready to adapt. 





Conclusion


There's a saying in the world of forex trading - "The trend is your friend". And with PineScript, you can easily identify and follow market trends with custom indicators that suit your trading style. From simple moving averages to complex multi-indicator strategies, PineScript allows you to create and test different approaches until you find the one that works best for you. 


But PineScript is not just limited to forex trading. It can also be used in other markets such as stocks and cryptocurrencies. So, if you're a multi-asset trader, learning how to use PineScript can greatly benefit your overall trading strategy and performance. 


Furthermore, PineScript is constantly evolving and being updated with new features. This means that there's always something new to learn and experiment with, keeping your trading skills fresh and adaptable. 


And don't be intimidated by coding - embrace it with PineScript and see how it can enhance your trading. Who knows, you may even discover a hidden passion for programming along the way! 


Forex Trading
TradingView
Beginners
Trading Tips
10.04.2024
Trading and Brokerage
post image main
How to Trade on TradingView: Tips and Tricks for Forex Traders
Fusion Markets

For those familiar with the trading landscape, you’re probably already well aware of  TradingView. Founded in 2011 by brothers Stan and Constantin Bokov, this widely recognised platform was created with the aim of being an all-in-one platform for traders to connect, share ideas and learn from each other. Today, it is one of the most widely used trading sites on the internet - with over 50 million users worldwide. 



Now, picture this: Trading on the advanced charts on TradingView at some of the lowest costs available on the market. Sounds exciting, doesn’t it? By connecting your TradingView account with your Fusion Markets account, you now can. At Fusion, our mission has always been about making trading accessible to everyone by offer radically low costs and no hidden fees or catches. That’s why we’ve partnered with TradingView to make low trading at the highest quality even more accessible.  



This article will delve into what TradingView is, its key features, and a step-by-step guide on how to effectively trade on the platform. 




Contents


Getting Started

Navigating the TradingView Interface

Trading on TradingView

Managing Positions and Live Trades on TradingView

TradingView Strategies

Conclusion



Getting Started



Before you dive into the world of trading on TradingView, you'll need to set up an account. Here's how to get started: 



  1. Account Creation: go to tradingview.com and sign up for a free or paid account. The free version offers a wide range of features, while the subscription provides additional perks, such as more alerts, indicators, and the ability to use multiple charts. 
  2. Personalising Your Profile: Customise your profile by adding a profile picture and filling out your bio. This can help you connect with other traders on the platform and share your insights. 
  3. Selecting a Subscription: If you decide to upgrade, choose the plan that suits your needs best. You can compare the available plans on TradingView's website. 

 

You will also need to create a Fusion Markets’ account or login to the existing one. If you struggle with selecting whether to sign up for a Classic or Zero account, visit our Accounts Overview page. 

Once it is done, here’s what you have to do next: 



  1. Go back to tradingview.com and open a chart that you want to start trading from. 
  2. Click on Trading Panel at the bottom and choose Fusion Markets;  
  3. Select your account type and click on ‘Continue;  
  4. Log in using your Fusion Markets account;  
  5. Tick the accounts that you wish to use and click on Allow when finished. 

 

You are all set!  




Navigating the TradingView Interface



After setting up your account, the next step is to familiarise yourself with the TradingView platform. The platform is intuitive and straightforward to navigate, with a wide range of features and tools neatly organised for ease of use. 


Homepage Overview: The homepage provides an overview of the financial markets. On the right-hand side, you'll find the news feed, watchlist, and trading panel. 


You can customise it by adding watchlists and widgets for specific assets or markets you're interested in. 


 

TradingView_Homepage



Charting: TradingView offers a wide range of technical indicators, drawing tools, and chart types. The platform offers flexibility in setting candle time frames, ranging from one second to one year. Indicators can be chosen from a drop-down list located in the top toolbar. For additional analysis such as annotation, measuring tools, and trendlines, the platform provides over 90 drawing tools accessible from the toolbar on the left-hand side of the chart.  

AUDUSD

The TradingView platform facilitates the analysis of market data through a variety of chart types, conventionally categorised into two groups. 


The first category consists of traditional charts, constructed based on time, including: 


  • Bars 

  • Candles 

  • Hollow candles 

  • Columns 

  • Line 

  • Line with markers 

  • Step line 

  • Area 

  • Baseline 

  • High-low 



The second category comprises charts constructed solely based on price changes, such as: 


  • Heikin Ashi 

  • Renko 

  • Line break 

  • Kagi 

  • Point & figure 

  • Range 


Users can easily select their preferred chart type from the drop-down menu located on the top toolbar. 


TradingView_Charts



Indicators: TradingView offers a robust selection of over 100 indicators. You can add these to your charts to analyse price movements, trends, and other essential data. Popular indicators include Moving Averages, Relative Strength Index (RSI), and Bollinger Bands. Additionally, users have the flexibility to craft custom indicators in JavaScript through the platform's API. This API empowers users to design a diverse range of indicators, incorporating various plot types, styles, colours, and mathematical functions. 


Within the user interface, individuals can seamlessly integrate custom indicators onto the chart. Adjustments to specific indicator parameters can be made using the dedicated Indicators and Settings dialog. It's important to note that while users can add custom indicators and modify certain parameters through the UI, the platform does not allow the creation of entirely new indicators or the modification of existing code for pre-existing ones. 

 


Alerts: TradingView alerts provide instantaneous notifications when the market aligns with your personalised criteria. For instance, you can set an alert such as, "Notify me if Tesla surpasses $250." All users have access to various notification options, including visual pop-ups, audio signals, email alerts, email-to-SMS alerts, and PUSH notifications directly sent to your mobile device. 


You can also set alerts on indicators, strategies, and drawing tools and even customise your trigger settings. 




TradingView_Indicators




Drawing Tools: TradingView's drawing tools offer a versatile range of functionalities, allowing users to make annotations, insert comments, highlight trends and patterns, conduct measurements and forecasts, and calculate price levels. These tools are conveniently positioned on the left panel of the chart, providing easy access for users to enhance their analytical capabilities and visually communicate insights. Whether you need to jot down notes, emphasise specific points, or perform detailed analyses, TradingView's drawing tools allow users to interactively engage with charts and convey valuable information effectively. 



TradingView_Drawing_tools




Watchlists: Watchlists are located on the right side of the screen. You can create a new watchlist by clicking on ‘Create new list' or import the existing one to keep track of your favourite assets. Please note that the import option is only available for Pro accounts. To add assets to your watchlist, click on the '+’ or ‘X’ if you wish to remove it. 



TradingView_watchlist


Social Features: The ability to publish and share your trading ideas is a pivotal feature, facilitating collaborative learning. You can exchange trade-related information or engage in discussions about current market conditions with fellow traders who share your level of experience or interact with more seasoned traders.  



For a dose of inspiration, navigate to the "Community" section in the header menu and select 'Trade Ideas.' Here, you have the option to explore trade ideas by specific assets, follow the curated selections from editors, or delve into the trending ideas on the platform. 



TradingView_community


Every member of the community has a badge. Let’s go through them one by one: 


  • MOD - The red MOD badge is assigned to TradingView moderators, distinguishing them within the community. This badge serves as an additional layer of security for all members, enabling easy identification of moderators. In case you have inquiries or require assistance, this badge helps you discern who is a moderator and who isn't. 


moderator_badge



  • The BROKER badge, available in blue (platinum), gold, or silver, is designated for broker accounts on TradingView. Members adorned with this badge are exclusively recognised as official broker representatives. The broker page offers comprehensive details on Terms of Use and reviews from live-account owners. 



  • WIZARD - The green WIZARD badge is awarded to Pine Script™ Wizards, who are exceptional programmers proficient in Pine Script™—the language employed for developing indicators and strategies on TradingView. These Wizards make noteworthy contributions to the community by assisting numerous traders with their code-related queries. Read our blog to learn how to use PineScript for trading on TradingView.


  • TradingView official accounts, along with badges for TradingView employees, feature a distinctive blue badge adorned with a TV logo. This badge serves as a visual identifier to distinguish and authenticate the official presence of TradingView and its staff within the community. 



The conversations unfold in real time, allowing you to connect with individuals trading the same instruments as you. You can share links to your charts, articulate your trading concepts, and receive feedback and comments to foster mutual growth and prosperity in the trading community. The overarching goal is to enhance your trading and investing skills by gaining insights from the actions of others.  




Trading on TradingView




Understanding how to correctly place trades on TradingView is crucial. One of its standout features is Pine Script, a domain-specific programming language that allows users to create custom indicators, strategies, and scripts. Visit our blog [LINK] to learn how you can leverage PineScript for trading on TradingView. 


Once you have logged into your trading account, you'll notice four tabs at the bottom: Positions, Orders, Account Summary, and Notifications log. The Orders tab conveniently provides a filter for all possible order statuses. Each column in the Orders tab displays key values from the Account Summary, represented by a grey line. 



At the top-right of the Trading Panel, you'll find a menu containing main settings for trading, a button for disconnecting trading, and an option for selecting another broker. Your account ID is prominently displayed, and if it's a multi-account ID, a dropdown allows you to switch between sub-accounts.




 



To place an order, you have several options. You can do so through the context menu on the chart or trading panel, the Plus menu on the chart, or by using the Buy/Sell buttons. The easiest way is to click on ‘Trade’ on the trading panel, and a new window will pop up.  




EURUSD Chart

When accessing your TradingView execution platform, the Buy/Sell buttons are prominently displayed directly on your chart. In the chart's centre, the market spread is visible, and on the right, you have the option to adjust the number of contracts. Initiating a Buy or Sell order opens the order execution window. 



order_window_TradingView




Order Placement: Upon clicking Buy or Sell, you initiate the opening of the execution window and gain the ability to adjust the parameters of your trade before finalising the execution. Let's guide you through each parameter individually: 


  • Account: If you have multiple accounts, you can seamlessly switch between them at this point. 

  • Side: Indicate whether your order is a buy or a sell order. 

  • Type: Select from the following order types: Market, Limit, Stop, or Stop Limit.  

    • Limit: This order triggers when the price reaches the specified limit or a better price. Note that in situations of imbalance between buyers and sellers, limit orders may not be immediately filled. 

    • Market: This order gets filled immediately at the best available current price. 

    • Stop: A stop order that converts into a market order once the specified price is reached. 

    • Stop Limit: Similar to a stop order, this type converts into a limit order after the specified price is hit. 

  • Duration: You have the flexibility to specify the duration of your order, and TradingView offers various options: 
  • GTC (Good Till Cancelled): The order persists and stays open until explicitly cancelled by the trader. 
  • GTD (Good Till Day): The order remains active until the specified date set by the trader.



time_in_force



  • Symbol: You can modify the symbol (market) at this point. 

  • Quantity: Adjust the quantity of contracts you wish to buy or sell. 





Managing Positions and Live Trades on TradingView



After executing a trade, the details of the trade become visible on your chart. TradingView displays the current Profit/Loss and the quantity of your position. 


Additionally, it provides options to reverse your trade, converting a buy trade into a sell trade, or to close your position with a single click. In the Trading Plan section at the bottom of the screen, you can monitor your current positions under "Positions" and access all your active trades with supplementary data. Closing positions can also be done conveniently using the X icon located on the right. 

 
When you enable the visualisation of past trades on TradingView, the platform will display red and green arrows directly on your charts, indicating the entry and exit points of previous positions. 


Moreover, you have the capability to view the number of contracts traded, accompanied by the execution date, providing a comprehensive overview of your trading history. 



TradingView_Strategies




One of the attractions for millions of retail traders to this platform is the assortment of specialised tools and user-generated strategies available for utilisation at any given time.  


Our immediate focus is on understanding how to employ strategies. Without delving into the intricacies of each strategy, let's elucidate how to leverage TradingView using a range of pre-established strategies conveniently accessible on the website. 


Follow this simplified step-by-step guide: 


  • Click on "Indicators" in the topmost menu of the TradingView terminal. 

  • Opt for "Strategies" from the tabs positioned above the list of indicators. 

  • Select the desired strategy from the new list provided. 


If you cannot find the strategy you're looking for, use the search bar for a quick and efficient search. 




TradingView_Strategies




It's as straightforward as that. As soon as you select a specific strategy, you will see its implementation on the price chart. Additionally, it's essential to understand how to employ multiple charts in TradingView. Some strategies may necessitate cross-comparisons with price data from other assets. 



To achieve this, simply click the plus icon next to the name of the primary viewed asset and choose the required asset from the list or use the search feature. This action will promptly overlay one chart over another, offering a more comprehensive view of the price in the context of its comparison against other assets. This feature proves particularly useful when dealing with futures and other derivatives. 

 

 


Conclusion 



Trading on TradingView is a dynamic and multifaceted process that combines technical analysis, strategy development, and community engagement. To succeed, you'll need to continually refine your skills, adapt to changing market conditions, and maintain a disciplined approach to risk management. 



Remember, no trading platform, no matter how sophisticated, can guarantee success. It's up to you to apply the knowledge and tools provided by TradingView to make informed decisions and build a profitable trading career. Whether you're a seasoned trader or just starting, TradingView can be a valuable resource on your journey to financial success in the world of trading. 



TradingView
Trading Tools
Risk Management
Beginners
26.03.2024
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