Trading
Neerav Vadera of G7FX Highlights the Correct Trading Tools
Global Banking & Finance Review®
Company
Neerav Vadera of G7FX emphasizes the importance of using the right trading tools like Depth of Market and Volume Profile for success.
You can drive a car right away sure, but without having the right upfront training it would probably end in disaster right? In addition, it also helps to have all those safety features in your car in addition to a solid GPS to help you get where you’re going. A camera in the back of your car when parking or going in reverse also helps. Similarly having the right trading tools, such as those shown in the G7FX program by Neerav Vadera, is also critical when it comes to navigating financial markets. Using the correct tools is something that is critical to success in the activity you are doing. It is what got us out of the Stone Age after all!
What are the wrong tools?
This is exactly what can be your first issue when looking for the right equipment to be a successful trader. What are the best available tools out there? Some might think that it is simply going on a platform, depositing funds and using technical analysis, or better yet, the opinion of other unqualified traders that have made some trades that were positive. When learning from Neerav Vadera and G7FX, one would start to notice immediately that they have probably been using the completely wrong tools.
The reality is that traditional retail tools or methods are more like distractions in what you need to have in your arsenal to be a successful trader. We do not need to overcomplicate the trading world any more than it already is, with some form of new buzzword or trend. Take it from someone with leading industry experience, Neerav Vadera, who is all too familiar with these distractions.
Ok – Help me with the right tools?
The best tool you can have right off the bat is some institutional training mixed with some practical application. Education itself is a tool to help you to start understanding more of the concepts that are relevant in this industry and how we can use the next set of tools to our fullest advantage. Selecting the right type of education for trading can be difficult. The best approach always is to take training with someone who has actual practical industry experience. A great option can be found with the G7FX program found here. Neerav Vadera offers amazing training based on his own experiences in the financial industry while eliminating those unnecessary ‘retail tools’ from your portfolio of support items.
Understanding Depth of Market (DOM)
The next tool on our list is becoming a master in not only understanding what DOM is but also how to properly read the data that is being shown. It is one of the first tools that shows you the true level of interest in a particular asset. The larger the depth the higher the volume being traded and the higher the liquidity of trading as well. This means that there are so many trades going on that one individual trade will not likely affect the market price. This aids in understanding what direction the pricing of the asset will likely go. You can see whether people are buying or selling more at particular prices which can affect the price. With all this information at your disposal, you will be able to assess with a degree of certainty the best time to buy (or sell) the asset.
By seeing the actual flow of market participants, the Depth of Market is a great tool to gauge when to trade. The G7FX program developed by Neerav Vadera will help with practice in seeing this pattern.
Mastering Volume Profile
Here you look at a grouping of trades that occur at a specified price. We look at these groupings to assess where the support and resistance levels are for the particular trading asset. When it reaches a support level, as determined by volume profile, it could be an opportunity to buy. When it reaches a resistance level, it could be the time to begin selling.
This takes time to master and there are several other components and timing items to consider when using Volume Profile tactics. You can monitor VWAP or the Volume Weighted Average Price in conjunction with Volume Profile. Looking at when some confluence occurs is an optimal time to get into trading these assets.
Footprint Reading
This is the advancement of reading the volumes on a candlestick chart. It shows you the exact trade amounts for each trade at a given price. It also shows the order flow and can be a very useful advanced tool to learn later on.
The footprint allows you to review and understand multiple variables at once all in one location, such as volume, bid-ask spreads, and liquidity. It also can show the VPOC or the Point of Control which shows the price at which the asset is traded the most in a given period. So, a quick analysis can be that by looking at that VPOC and then seeing more trades above that price, you can start to consider that the price will continue to go up as there are more traders willing to buy at a higher prices. Keep in mind this is rudimentary thinking as an example only!
Sounds great and I’m ready to trade!
Not so fast. These are only a subset of a much larger toolbox that you can use in helping you on your journey of being a profitable trader. Keep in mind the most important tool after education is consistent practice and learning more and more tools to help support your trading journey. A tool can only be as useful as the person who is using it. You also need the right context that Neerav Vadera creates in his G7FX program. If we just dumped you with a bunch of tools and terms, it would be no better than sending you a news article that the “dollar is weaker today”. There is no context to that type of news, as there is no context to giving you a tool without using it in practice.
Another one of the main reasons to look into training with the G7FX program is that Neerav Vadera really expands on how to use all these tools, when and how to use them, and what is the best combination of these tools to be used on the open market. Take a look at more information for this program here.
This is a Sponsored Feature.
The article focuses on the importance of using the correct trading tools as highlighted by Neerav Vadera of G7FX.
Why is institutional training important for traders? It provides practical experience and eliminates reliance on ineffective retail tools.
What is Depth of Market? It's a tool that shows the level of interest and liquidity in a particular asset, aiding in trading decisions.
Explore more articles in the Trading category
