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SoloTrader introduces the charting solution for the online trade analysis needs of webmasters: the Solotrader webchart. This marketing tool is incorporated to websites to enable instant access to a simple-to-use forex chart that carries powerful charting tools. Webmasters get to integrate this prog…Read More
SoloTrader offers the ready-to-use solution for Bitcoin Exchanges with that trades bitcoins instantly and securely. SoloTrader has developed the bitcoin technology that provides a trading software that is affordable, reliable, and manageable. The SoloTrader software supports Bitcoin Exchanges that allows the facilitation of instant buy-sell orders for BTC/USD pairs. It also carries developer tools and advanced trading systems for instant processing, convenient access, and better control. SoloTrader has also implemented complete system integration with full software maintenance that guarantees optimized trading opportunities for the broker’s clients. SoloTrader has created the full bitcoin technology package that offers excellent service, comprehensive technology, and minimized fees. SoloTrader brokers can take full advantage of this hassle-free offering to setup a Bitcoin Exchange where and whenever it is desired. Get your own Bitcoin Exchange at SoloTrader and start trading bitcoins today.
SoloTrader introduces the economical trading technology for forex startup businesses: The SoloTrader Start-Up Program. Aspiring brokers are guided every step of the way in putting up their own forex brokerages. From identifying the business structure, to determining the forex technology of the trading platforms and back office systems, to website design and development, to finding the best banking and regulation system, to integrating the most competitive payment service provider, and to supplying the regular maintenance and updates, SoloTrader is there to make the process of owning a forex startup company simple and easy. In addition, the SoloTrader Start-Up Program is flexible, meaning it is customizable to suit the broker’s preferences. SoloTrader created the complete and economical solution for forex startups where profit opportunities are maximized while expenses are minimized. Start your forex brokerage with SoloTrader and begin your building business now.
Go anywhere crowded in the city and you’ll see people enthralled in their smartphones. Commuters in the subway station are browsing articles, shoppers are comparing prices in malls and online stores, teenagers and adults alike are making connections on dating sites, mother and daughter are sending…Read More
In all honesty, most new traders will agree with me when I say forex charts make my head hurt. It looks so complicated with all the numbers and constant changing data. There are also all of these buttons and commands that many of us don’t know what it’s for. Well, worry not because this article will teach you what you need to know so you can start reading forex charts today. So for all the new traders out there, the veteran investors who wants to refresh their charting knowledge, and even for the simple web surfer that wants to know how to read forex charts, this article is for you. To shed some background, the forex market is one of the most popular and most lucrative markets in the world. Everywhere, people are trading on their laptops, tablets, and smartphones. They are analyzing market trends, researching economic indicators, and reading market news. However, one of the most widely used method to analyze the constant movement of the currencies is by using forex charts. Forex charts are financial tools that show different kinds of currency movement forecast based on various market theories. There are three main chart types namely Line Charts, Bar Charts, and Candlestick Chart. There are also other charts such as Line Break, Point and Figure, Kagi, Renko, etc. [See: The 7 Must-Know Chart Types of Forex] However, before we go on the technical terms and the complex processes, you must understand the basics. Here’s what you need to do: 1. Get access to updated and legitimate forex charts. The SoloTrader platform is equipped with charting capabilities that includes multiple chart viewing, real-time data updates, and various charting functions. A lot of traders such as small investors and even firms get their charts directly from brokerage services like ours. It is easy to get these charts. You only have to make sure that your provider is a legitimate source and that the forex charts and tools are easy to control and understand. This way, clients can maximize the navigation and the usage of the platform to be able understand the forex charts well. 2. Select the currency pair and set the timeframe. Currency selection and timeframe setting will specify your forex charts. This means you’ll be able to predict and interpret accurately the next currency movement. SoloTrader offers the widest currency pair selection and timeframe settings. Clients have a choice among almost 40 pairs while timeframe selection ranges from 1 minute up to 1 year. 3. Look for specific chart structure and other indications of possible future price movements. In the forex chart, you’ll see the x-axis and y-axis. The x-axis or the horizontal line represents the time frame or the time component while the y-axis or the vertical line shows the currency pricing or comparative asset price. The charts will show either a line chart, a bar chart, or a candlestick chart which will fluctuate over a period of time according to the currency price movement. All of these are the same chart indicators. They only differ in appearance. Observe the chart and the movement of the currency price. 4. Draw your own assumptions and conclusions. Veteran traders can easily identify different patterns and visuals. New traders can also do this by doing their research, studying the different fundamental and technical analyses, and through trading experience. Now that you know the general things to do, the next step now is learning about the specifics: chart objects, indicators, visual tools, and other chart properties. In the SoloTrader platform, all kinds of traders can identify these structures using the various chart indicators available. Clients can make use of fibonacci numbers, stochastic oscillators, bollinger bands, moving averages, and gann fans. Read the patterns, predict the next movement, and make trades accordingly. Reading forex charts is easy if you have the patience and the passion to learn. Practice and keep on learning. Now, you’re all set.
A good trader knows that knowledge is indeed power. Having awareness about upcoming market events and having the appropriate research to know what to do with such data are the key to making informed decisions. With everything that’s happening and the constant fluctuation of the market, it is crucial that traders are able to get the information they need when they need it. So, how do traders keep up with all that’s happening all around the world? They keep track of it using an economic calendar. What is an Economic Calendar? An economic calendar is a calendar of market events that allows traders to anticipate possible market movements by rating the event’s importance and indicating related statistics. It lists down indicators that gauge, mostly, a country’s performance. Some significant indicators are a country's Gross Domestic Product (GDP), the Purchasing Manager’s Index (PMI), and Consumer Price Index (CPI). Other important events include interest rate adjustments, political events, earnings reports, and speeches of relevant personalities of the financial industry such as Fed Reserve Chairwoman, Janet Yellen. It is updated real-time with an array of customizable features for the trader’s convenience. How do you use an Economic Calendar? Track key indicators using the economic calendar. Information about an upcoming event is presented in a compact table. Clicking on the event title will show the further information about the event. Other information such as the importance, forecast, previous, actual, and notes are shown as well. As a trader, you can customize the economic calendar. Filter it according to country or currency, list the events down according to importance, change the timezone, copy the information to a document, and choose a time period. The key is to take only what you need. Know the different weights of the market events and how they can potentially impact the symbol you are trading. [See: The Major Symbols of Forex That You Need to Know] Once done, you act accordingly and take advantage of the big market events who cause predictable market movements. How can it change your trading career? If you tune in to an economic calendar in addition to keeping up with the news, you are already ahead of the pack. Having extensive knowledge about the symbol you are trading and the market events that have a potential impact on them helps you make an informed trading decision that increases your opportunity for profit. An effective trader is ready in the sense that he or she has a general understanding of the involved economic and political factors that affect the forex market and the information the move currency prices. The economic calendar supplies the data that traders needs to prepare for all these market events. All traders should use it because making the right trading decisions are maximized by absorbing the right information.
The Forex market is the biggest market in the financial industry making it one of the busiest as well. It trades a daily average volume of $5 trillion with currencies being traded as fast as you can say “Forex.” The reason for its boost in growth is due to the fact that currency prices are constantly fluctuating. Traders take advantage of this fluctuations to profit. The basic trade in Forex is the simultaneous buying and selling of currencies. That’s why currencies are always quoted in pairs which we also call symbols. The major currencies are the US Dollar (USD), the Euro, (EUR), the Japanese Yen (JPY), the British Pound (GBP), the Swiss Franc (CHF), the Australian Dollar (AUD), the Canadian Dollar (CAD), and the New Zealand Dollar (NZD). Pairing each major currency with the USD creates the major pairs and the commodity pairs. [See: The Commodity Pairs of Forex That You Need to Know] In this article, we will be tackling the major pairs. The major symbols are named as such because they all carry the dollar and they trade in huge volumes on the forex market. The dollar is the standard currency of the world with all currencies being matched against $1. EUR/USD The EUR/USD pair is perhaps the most popular and the most liquid among the major pairs as it contains two of the most powerful economies in the world: the European Union and the United States of America. The US dollar takes the first place as the most heavily traded currency while the euro takes second. The EUR/USD pair is directly affected by the performance of the respective economies, the political stability of all the countries in the European Union, and the level of interest rates. It is the usual choice of beginners of the forex market. USD/JPY While Europe is the second most-powerful economy, Japan takes the second spot for the biggest national economy. And despite its small land area, it is the most powerful economy in Asia. Japan’s currency is the yen. When you partner it with the US dollar, you get one of the most active and most liquid currency pairs in the market that features low bid-ask spread and enjoys worldwide popularity. The USD/JPY pair appeals to both beginners and expert traders. GBP/USD The British pound is the official currency of one of the most powerful nations in history. The United Kingdom was once the reserve currency of the world before the United States took that title after the end of World War I and II. With its past, the GBP retained its prestige and remained as one of the most significant currencies of the world. Paired with the USD, the symbol becomes a major currency pair favored by all kinds of traders for its high liquidity, low bid-ask spreads, and high trading volume. USD/CHF Switzerland is known to the world over as a safe haven due to its economic stability, political neutrality, and discreet financial management. Its currency, the Swiss franc, when partnered with the US dollar, becomes the safe haven that traders turn to in times of political instability and economic crisis of other powerful nations. The USD/CHF currency pair is a historical symbol that is most popular among experts. The major currency pairs are the pillars of the forex market that everyone looks on to. If you’re not trading them, knowing their movements is a helpful guide in making your bets because what happens to them trickles down to the rest of the world’s economies and that will definitely affect you as a trader.