Candlestick charts are financial charts that show the price movements of a certain currency. These are called candlesticks because their shape is very similar to that of a candle. Each bar represents the highs, lows, openings and closings of each day within a month. These charts are commonly used by Forex traders and they serve to identify patterns as well as to decide if they should buy or sell Forex pairs. (more…)
Among the people who know what Forex does and have been involved in this kind of market, it is well said that in order to earn any profit you have to invest a significant amount of money, “the more the better”. However, many Forex traders have lost not only big amounts of money, including their savings, but they also have lost their trust in the system; therefore, they do not believe that investing money in this business can be always considered profitable. (more…)
There are many bad strategies flying around that people think work perfectly fine. Some of them can force you to lose more that you gain, especially if you do not trade with negative balance protection brokers. However, we are here to help and let you know that in fact some strategies are definitely not good and you will want to avoid using them as much as possible. Once you understand the worst method in Forex, you will be able to develop another approach that will do the exact opposite before you run out of money. (more…)
Candlestick patterns are a major component of contemporary technical analysis, but they were first used centuries ago by the Japanese in order to effectively trade rice.
The principles behind candlesticks are this: It is buyers and sellers fear and greed which cause markets to fluctuate. As a result, actions (price) speak louder than words (news, earnings, etc.)
All news is already reflected in the price, even if that price does not adequately reflect true value.
TorOption is an online trading platform offering tools to help traders produce better results. Understanding candlestick formations is one such tool. (more…)
Without these “products”, trading, as a business, becomes too one-dimensional and rigid. It’s either a win or loss, which is comparable to how gambling works. Introducing new products or tools for trading binary and other instruments gives you a different dimension, one that can create a consistent profit stream and build your retirement nest. Understanding how these products bring value at full scale is paramount to succeeding as a diverse and well-rounded binary options trader. (more…)
It’s a nice feeling when everything in the market goes as expected, or when forecasts miss by very little on our prediction. More often it’s not always like this, a good skill set of technical fundamentals are needed in order to pick a currency at the right time and moment to go ahead and make the trade. Often the analyst is interpreting the information incorrectly. (more…)