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SoloTrader has been releasing continuous updates on the SoloTrader Forex Chart. The latest to be upgraded is the Forex Channel, Gann, and Text Visual Tools of SoloTrader. Forex Channel The Forex Channel is a visual tool which is drawn using parallel lines. The channel created indicates areas of sup…Read More
SoloTrader announces the launch out its very own partnership program. Following the unveiling of new products such as the Bitcoin Exchange and the SoloTrader Subscription Service, SoloTrader is expanding by enlisting the help of partners. The Offers for Partners is a partnership program that lets partners have a share of the profit when they refer or enlist a new client to SoloTrader. SoloTrader provides the partner with the necessary marketing tools and tracking system for them to manage referrals efficiently. According to SoloTrader, the main goal behind the partnership program is to provide “anyone who wants the opportunity to grow with us” and to “ share SoloTrader’s technology and knowledge to those who need it.” SoloTrader’s partnership program lets partners profit through the use of the company’s marketing materials and recognizable brand. SoloTrader gives clients a percentage of the profit, depending on the quantity of members enlisted. Get to know more about SoloTrader’s partnership program by contacting the SoloTrader team.
Following the successful launch of the SoloTrader Bitcoin Exchange, SoloTrader has now released a new tool for bitcoin traders: the Bitcoin Chart. This analysis tool allows users to have a premium access to relevant market data involving bitcoin and dynamic charting functions to analyze bitcoins effectively. SoloTrader incorporated over 70 indicators, tools, and features for traders and brokers. The launch of the SoloTrader Bitcoin Chart was met with positive reviews from webmasters who have already integrated this charting tool into their own websites. There are options for people who want to use this chart and personalize it according to their preferences. SoloTrader offers free trials and customizable features. Check out the SoloTrader Bitcoin Chart at http://www.solotrader.com/bitcoin-chart to avail of our new product.
SoloTrader has released an updated OnBars indicator listing, adding more function and options to the feature. Both the SoloTrader trading terminal and trading platform offer a wide array of indicators. The OnBars indicators can be located on the main menu bar of the forex chart labeled ‘Indicators.’ The OnBars indicator in the trading platform are currently listing the following. Alligator Named after an alligator’s mouth, the alligator uses three lines (blue for the jaw, red for the teeth, and green for the lips) to mark trends and identify wave formation. Bollinger Bands Famous technical trader John Bollinger developed this indicator to gauge the highs and lows of prices by combining moving averages and standard deviations. Donchian Channel The Donchian comes from Richard Donchian who wanted to show the relation of prices through the use of the highest high and the lowest low to create a channel. Exponential Moving Average A commonly used indicator along with the Simple Moving Average to gauge price fluctuations. What differentiates it is it uses the latest price data in terms of age weight which decreases exponentially. Envelope Moving Average The envelope moving average used to identify price breakouts and determine whether the price is overbought or oversold. It combines a moving average and a positive or negative percentage deviation depending on the trader. Fractal Chaos Bands This indicator identifies trends using fractal geometry. Slopes present a trend and flat bands means there are none. Fractals Determine the reversal points using fractals. This indicator uses five successive bars to do this. High and Low Bands The high and low bands are indicators that use underlying prices to compute triangular moving average in order to determine relative price levels and volatility. Ichimoku Kinko Hyo A japanese indicator that utilizes five lines namely tenkan-sen, kijun-sen, senkou span A, senkou span B, and chikou span to gauge momentum and evaluate trends. Keltner Channels The Keltner channels make use of moving average bands to determine overbought or oversold conditions and identify price breakouts. Linear Regression Forecast From its name, this indicator is used to forecast possible price changes with the help of past quotes using the least squares fit method. Linear Regression Intercept This indicator is used to pinpoint the price at a particular time series when one is unknown. Median The Median simply determines the numerical mean of a particular trading range using the high and lows and then averaging them. Parabolic SAR This indicator shows the directional momentum and identifies possible points of direction changes using successive dots. Prime Number Bands By using the highest and lowest prime numbers, the Prime Number Bands are able to determine market trend turn. Rainbow Chart Using a two-period simple moving average combined with recursive smoothing, the Rainbow chart is able to produce a 9-lined moving average indicator that looks like a rainbow. Simple Moving Average This basic indicator forecasts price direction using closing prices averaged with the number of time periods. Smoothed Moving Average Combining the the latest price data and the historic price data, the Smoothed Moving Average is able to present a general picture of how the price of that asset is moving. Triangular Moving Average The Triangular Moving average computes the mean price of an asset over a specified period of time by using the weighted average of its latest prices and double smoothing them. Time Series Moving Average This indicator uses the least squares fit regression technique to reduce noise in price movements. Typical Price By adding the high, low, and close data and then averaging them, the Typical Price indicator can act as filters for moving average systems. Variable Moving Average A more sensitive moving average indicator, the Variable Moving Average uses the Market Volatility and other market conditions data to adjust smoothing constants. Weighted Close The Weighted Close indicator simply averages prices throughout one trading day with the closing price with the most weight. Weighted Moving Average This indicator is the same as the Exponential Moving Average except that the age weight does not decrease exponentially. Welles Wilder Smoothing Developed by Welles Wilder, this indicator can be used with Average True Range, Relative Strength Index, and Directional Movement System to create multi-functional indicator. These OnBars indicators are available to be used in the SoloTrader trading terminal and trading terminal.
Currency shapes the basic components of economic activity in countries. Developments in the economic sector of any nation will have a direct impact on the currency value as well as the direction that the currency market takes. It is possible to follow the direction using factors like prevailing inte…Read More
Volatility refers to the variation in a trading price over time. The wider the scope of the price variation, the higher the volatility. For instance, a security with subsequent closing prices of 5, 20, 13, 7 and 17, would be more volatile compared to a similar security with a subsequent closing prices of 7, 9, 6, 8, and 10. A security with higher volatility is considered riskier since the price movement is bigger. Having knowledge of a security's volatility is important because different levels of volatility is better for certain strategies. It would be best for a forex trader who aims to steadily grow his capital to select a currency pair with lower volatility. In addition, a risk-seeking trader will opt for a currency pair with higher volatility so they can cash in on the larger price differentials that volatile pairs offer. Factors that affect volatility of currency pairs Economic and market related events are usually the source of volatility in forex. The shift in the interest rate of a country or a decline in commodity prices have a direct effect on volatility. The degree of volatility will depend on the situation of the paired currencies and their economies. A pair of currencies will likely become more volatile due to the fundamental difference in each nation’s economic drivers. For example, an economy can either be primarily commodity-dependent or one that relies more on services. Different interest rate levels can also cause a currency pair to become more volatile compared to pairs from similar interest rates. Crosses, which are pairs that don’t include the US dollar, and ‘exotic’ crosses, pairs with a non-major currency, are likely more volatile and carry larger ask/bid spreads. Other drivers of volatility are government debt, inflation and existing account deficits. The economic and political stability of a particular country is also a huge influence on market volatility. Furthermore, currencies that are not regulated by a central bank are considered as more volatile since they are naturally speculative.
Trade execution at its best should not be done when a person is stressed. A trader who is under a lot of pressure will likely ignore their trading strategy. Forcing yourself to trade during a stressful period can cause unfavorable results. A poorly executed position may turn into a loss in your account balance. When you are away from your trading desk, you can help lessen the stress by reducing the amount of work through the use of these certain trading tools. Here are some techniques to help you reduce stress in trading while keeping your account balance thriving. Automated Trading Automated trading comes in several forms like simply setting automated results to setting automated stop loss and taking profit levels. Traders can also take an additional route by setting automated solutions where they can upload an algorithm which will automatically place trades. Once the automated trading takes place, the trader will only have to log in once in awhile and monitor the activity. Copy or Social Trading This method of trading involves choosing an expert to execute a trade on your behalf. This form of social trading will allow users to ‘diversify’ amongst themselves as they set limits on their position size and exposure. Traders will also be able to follow and copy expert traders that use different strategies and trade various instruments in order to acquire different exposure. Set Trading Times/Strategies Stress from trading can get overwhelming when you don't have access to the market. One of the best methods to handle this is to set strict limits for what you can trade and when to trade. This will allow you to relax while you are not trading and will help ease the pressure of having to constantly think about the market and positions to take. It is best to focus on the instrument with the optimal trading potential at your own selected time. Mobile trading Mobile trading is one of the most convenient ways to trade. It requires a less hands-on approach and also offers a good structure. The best part about it is that it addresses particular issues like using your time effectively while you are away from the computer. It utilizes time wasted by using mobile trading. With mobile trading, you can carry out work conveniently because you can do this any time at any place.
Selecting a time frame will depend on your personality type and personal preference. A long-term approach will not be suitable for someone who has lacks patience since they can opt out at the wrong time. The standard conventional choices when selecting a time frame will go from long term, middle term, day trading or short-term trading. Forex trading is usually based on multiple time frames since it helps the trader check other time frames for a broader picture. The best way to determine the time frame would be to analyze the charts. Long-Term Time Frames This time frame can last for weeks and even a year which means that it involves a long extended period of monitoring. It is one of the best ways to start in forex trading since it is easy to manage by examining the grade trends through the weekly chart. The trader will be able to view daily charts and make dynamic adjustments in order to manage risk. A trader will benefit from this time frame by getting the “big picture”. Medium-Length Time Frames Swing traders tend to choose medium-length time frames for deals held for a short period of time. After one month, the trader tends to leave the position. A particular entry point is selected after looking at hourly and daily charts. Traders who work with medium time frames have likely made more trade compared to a person working with a long-term time frame. Day Trading Traders who choose to be in and out of a position the day itself tend to go for day trading. The trader can start looking at the hourly and daily trends, as well as make multiple trades all throughout the day. Entry point for this type of trade are likely based on 5-15 minute charts, 30 minute charts or hourly charts. Short-term Trading Scalpers are traders who prefer an extremely short period of trading. These positions can go from 30 seconds to a few minutes. The high quantity of trades per day is what makes it appealing for traders. This choice is based on short-term or click charts. However, transaction costs are higher since there are more positions held.