I intended to enter the market on cryptos, but at the last moment I shifted my attention to Nasdaq and Brent. So, once again I used a combination of Stochastic and Bollinger Bands on these two different assets.
As for Brent, I entered the market when it was 77 and closed once it hit 82. Pretty good. It brought me $114.
I tried to scalp Nasdaq. I don’t know why I decided to scalp it. Perhaps, I was just curious. I mostly lost, but my gain on Brent allowed me not to stay in the red.
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Your decision to scalp the Nasdaq was always likely to lead to failure but to be honest shifting to scalping is the conventional response to an index losing its uptrend. You are not to blame for following this bad advice which is repeated every day by experts who do know better but who cannot afford to be honest. What they should be saying is the index is no longer bullish so stay out until it is.
As far as I concerned, this broker can be considered as trustworthy, at least it’s regulated by several regulatoes and have a deposit insurance, which is provided by one of the regulators. Of course, it guarantess tu remburse losses in case of confusing situation with this broker. I believe that it’s quite reliable, I’ve tried it several months ago, and I was convinced in it, because they have a quite responsive customer support, which is multilingual and it works without any breaks actually. So, you can try to open a demo and be convinced by your own, in case you’re interested in this broker.
I don’t think that it’s a good idea to scalp indices. I think they are more suited for long-term trading.
Perhaps, I was just doing that in the wrong time. Maybe there were a bunch of crucial news releases I somehow overlooked. Nevertheless, I’m going to try scalping indices one more time.
Does anybody trade cross pairs here? Is it really promising? I’m mostly interested in stocks of environmentally-friendly companies. It’s not only about how profitable this stuff is and how easy to trade these stocks are but I also do this because I strongly support everything eco-friendly. Nevertheless, I realize that it would be foolish to focus on just one thing in trading because I can lose many opportunities to earn money.
Recently, a friend of mine advised me to try cross pairs. He told me that these are one of the easiest assets to trade among Forex instruments.
That’s a good thing that you finally decided to try something else except for eco-friendly stocks. If I traded one thing only, I would go crazy. I respect people with firm eco-friendly beliefs, but I think that the bulk of assets on Forex don’t have to do with ecology. For example, cryptos eat up tons of energy when they are mined, but they are one of the most liquid and therefore profitable assets in the world.
I do believe that ecology is crucial but I don’t want to be a fanatic eco-maniac. I try to look at things rationally. Spilt oil in the sea is a real problem and danger for nature, while huge consumption of energy by cryptos is just a temporary inconvenience, to my mind. I would like to earn on cryptos too, but I should do everything step by step. Currently, I want to make it clear how to handle cross pairs.
I would agree with your friend. I also think that cross pairs are relatively easy to trade. I often trade them and I think that I will continue doing this in the future. I think that the best way to trade cross pairs is to trade them in a range. In other words, you should use channels. Use trend lines in the list of indicators of the Olymp web platform and draw corresponding angular lines once you notice on the chart something like this.
and this
Thanks for your tips. I have already opened a demo account to test cross pairs. I already spotted ranges on some cross pairs and made a number of profitable trades. I think I will shift to a real account in two weeks.
no any skill with demo trading, when you trade in real account price will react different way and it alway against you, anyway you can try with forex fixing price that available on Cme group website, the contract price will let you know where market go.
hope you will interesting with it.
nice but it doesn’t work for me in this stratergy. i myself trade with trend and daily fix price contract. from now i will open trade with live account for you all here. newbies can follow my orders and make profit with me.
live trade i will post daily here from 9:00 to 10:00 am new york time.
I finally made a decision to shift to real trading with Olymp. I don’t want to say that demo trading is a worthless thing. It really taught me a lot of worthy things but at the same time I also felt that it restrains me and prevents from moving ahead. So, I opened a real account with the broker and as I intended earlier the first thing that I began to trade was cross pairs. I traded AUD/CHF.
I adore this pair. That’s one of my favorite crosses. I trade it very often. I see that you used a non-standard setting for Stochastic. Why did you use 28 for %K?
Of course, I don’t have a lot of experience in trading crosses but I hope I will gain it soon. At least, I already like to trade cross pairs.
As you see on the screen below, I was lucky to enter the market on this asset at the right time or it wasn’t pure luck but I owe to indicators, in particular, Stochastic and Bollinger Bands.
As for the %K setting, I simply heard about an optimal number 28-30. I chose 28 because I like the number 8. It seems to me that with this setting Stochastic gives less false signals but instead gives better prompts - the very possibility to earn on the whole wave on H1.
Stochastic is rather a questionable thing, although it’s true for all oscillators. They often mislead people and are unable to give a good prompt when a new trend emerges. When you work in the flat market, you have an illusion that Stochastic always works but it’s not so. You’d better rely on price levels and breakouts.
As far as I concerned and according to my personal experience olymp trade is considered to be a trustworty broker, everything because I also aked myself such a question in the past and had to check everything. I checked the licenses, certifications and regulations. Also, I checked the work of customer support and the methods of withdrawing and depositing money. All of them seemed to me pretty okay, because customer support ansered all my questions quite fast, while there were no issues with withdrawing and depositing money. I guess you can trust but remember that earning on binary option requires enough skills.
I’d say the broker is far from being a binary brokerage. It allows forex trading and even trading stocks long-term.
I was just bored last week and since I had no idea what to do, I mean what to do in trading, I occasionally kicked in S&P 500 tumble on January 5. So, luckily I earned money on that dive. I closed my deal on January 7. Of course, I could have held it more but my indicies experience is zero, so I hurried to exit.
Perhaps, you did right. I’m still a nub but as I know S&P 500 as well as other indices always go up. If they tumble, it’s always a temporary correction. Take a look at the higher timeframes of this asset. It’s a never-ending ascend.