Hello everyone, I am Judy from Jamaica. I am new to Forex trading but have been doing my research and stuff. I think I really like this and I find myself up late at nights just doing research. I think of all the trading strategies I have been exposed to so far, candlesticks is the one I am more comfortable with, maybe because it is the one i understand the most. Not to say I understand a lot about them. I have a few questions.
How do I know when to enter a put or call using the candlestick pattern? In the spinning top and hammers for example how do I identify a confirmation that a trend is reversing? (are the concepts buy and sell used ex-changeably for put and call?)
What charting sites or software are the best for trading on platforms such as trade rush or top options?
Thanks for this great website…I am learning so much and I am not going to stop until I get the full understanding of how to make this my primary income source. Thanks again guys
Nice, we are very similar then i also use stick and chart pattern systems.They are simple and easy to use, you only memorize them and your are ready to trade.
I belive you are talking about binary options, not forex trading but whatever, i can help you with this too i guess, but i`m trading only forex.
First of all
1)Spinning top is a neutral candle, and hammer is a reversal pattern, a hammer is valid if the low shadow is 2x bigger than the real body and the color must be green/bullish and has no upper shadow.The hammer also must be at the market bottom, so that it will signal an uptrend
I would not trade with binary options but i guess, you can create a demo account at a real forex trader and use the MT4 platform to check the markets more deeply there, since binary brokers have very crappy charts.
thanks for your reply…I think u clarified something for me just now…binary options vs forex trading. I signed up as a binary trader…didn’t even understand there was a difference. I see the term MT4 appearing a lot, what is it really? Could you give me some more information on that…thanks again for your reply I really appreciate it…This site is tooooo awesome!!!:35:
Well binary options is not really forex trading its more like betting.You bet UP or DOWN but you a fixed trade size so the broker will basically give you a fixed profit if you win the bet.It’s like a coin tossing game.
Where with real trading you trade the market itself, you participate in the market, and the money you put in the trade actually gets traded via a bank.MT4 is Metatrader 4 ,the best forex trading platform out there.Here is a pic:
ok thanks…I have been doing my research on it and it is different from what i am use to with binary trading…but i will take my time and do some more research on it…thanks again for your feedback…much appreciated…any advice on where i can learn more about how to use the MT4 platform?
