Real-Time Pattern Trading: What is it?
A method of buying and selling based on a security’s price movement is known as real-time pattern trading. It entails spotting particular patterns in the price chart, then placing trades when those patterns show signs of recurrence. This one involves a forex pattern scanner.
The advantages of this strategy include:
- Speed – Since you don’t have to wait for fundamental or news data to be released before making decisions about your trades, you can enter and leave positions quickly. Instead, you may respond quickly based on what’s going on in the market right now (and not just at certain times throughout the day).
- Flexibility – You have more freedom with this strategy than with other types because there are no strict guidelines for where to place orders or how much risk exposure to take on each trade; rather, these decisions are based on real-time analysis of market conditions at any given time during execution time periods (a few minutes up until several hours).
What is the Forex Pattern Scanner from Tickeron?
Users can recognize patterns in real-time with Tickeron’s Forex Pattern Scanner tool. Both bullish and bearish patterns can be detected with it, and these patterns are then shown as arrows on your chart. Trading decisions can be made in advance thanks to these arrows, which show potential future price movements.
The program itself includes a number of features that make it simple for both novice and seasoned traders:
- Filtering away irrelevant data from your charts so that only relevant data shows up on them (this function is especially helpful if you’re using many monitors)
- An opportunity to generate notifications when a certain asset meets certain criteria
Using the Scanner Has Several Advantages
The Forex Pattern Scanner from Tickeron is a useful tool that can assist traders in spotting potential possibilities. The scanner offers time savings and revenue growth by:
- recognizing significant pricing trends in real-time
- Giving warnings when these trends appear
- providing guidelines for profitable trades
How to Use the Scanner from Tickeron
The steps below explain how to utilize Tickeron’s Forex Pattern Scanner.
- Create a Tickeron account by filling out the form. You can do this by selecting “Sign Up” at the top of this page and then according to the on-screen instructions.
- You can access your dashboard by clicking “Dashboard” in the top right corner of your screen after you’ve joined up and logged in. When you click this, a page displaying all of your active trades will appear.
- To access our pattern scanning toolbox, select “Pattern Scanner” from this menu bar. Click “Scan” after choosing one or more currencies to search for patterns in. As soon as the scan results are ready, which is generally just a few seconds, they will show up below!
Ways for Using Tickeron’s Forex Pattern Scanner to Increase Earnings
The Forex Pattern Scanner from Tickeron is an effective tool that enables traders to spot winning opportunities in real time. Yet, there are a few strategies that will help you use it most profitably:
- Recognize the market situation. The most crucial thing to keep in mind while employing any trading system or technique is that before you start trading, you need to have a solid understanding of the market’s dynamics, particularly its trends and cycles. Your efforts will be useless if you don’t understand how the market functions because they won’t result in anything!
- Where feasible, use risk management methods like stop losses and take profits so that at least some of your money isn’t gone forever if things go wrong with one or more trades. This way, if anything unforeseen occurs while a trade is open, like as a news announcement that causes prices to move abruptly against us, we’ll still have some money left over after closing our losing trades promptly enough to prevent things from getting worse.
Use XM Brokers for this strategy
