Thanks to the constant development of the Internet, millions of people have been able to work in the stock and foreign exchange markets without leaving their homes. In order to make a profit, a variety of strategies are used. One of the most reliable methods is volume trading.
Instructions
Step 1
Most beginners who want to make money on the exchange rate difference turn their attention to the FOREX market. To get started, it is enough to open an account in a dealing center, download a trading terminal (usually mt4 or mt5), put a certain amount on the account - at least $ 10 - and you can start trading. But for the vast majority of traders - up to 95-97% - trading ends in the loss of money. How to work in Forex without losing?
Step 2
To know in which direction the rate will swing, you need to understand the actions of the bidders. In the stock market, you can use information on the volume of transactions for this, it very well reflects the essence of the situation. There are volume indicators on Forex, but their incorrigible drawback is that they show not the volume of transactions as such, but their number - the tick volume. At the same time, there is no information about which lots and in which direction the trading participants enter the market. This is why volume indicators in Forex are not very useful.
Step 3
You can make a difference by taking volume data from the stock market and applying it to Forex. Download the Thinkorswim PaperMoney trading platform from this link: https://fxmail.ru/soft/thinkorswim-papermoney/#download Then go through the registration procedure at this address: https://papermoney.thinkorswim.com/tos/myAccounts/paperMoneyInterface/paperMoney. jsp Nickname must be alphanumeric, in Latin, start with a capital letter. Indicate a real-life mailbox, all other information can be anything. If registration was successful, you will see a corresponding message. The registered account is valid for 60 days, then you need to register again.
Step 4
Install and launch the downloaded trading platform. Enter your nickname and password, confirm the program update. After the update is completed, a terminal window will appear in front of you. Read about setting it up here:
Step 5
Select the Charts tab from the menu. Open the drop-down list at the top left of the window and select / 6E. You will see a data window for trading euro futures. Select the desired time interval from the drop-down list in the upper right part of the window. By default, there is D - display by day.
Step 6
Open the Studies menu in the upper right part of the window, then go to: Quick Study - All Studies - V-Z - VolumeProfile. A chart will appear on the right side of the window displaying volumes versus price levels. That is, looking at this chart, you can see what volumes were invested at certain levels. At the bottom there is a chart showing volumes by bars.
Step 7
Set a time interval of 5 minutes in the trading platform. Pressing "+" or "-" in the lower left part of the window, set the required graph display size. Then open the EURUSD pair chart in the mt4 terminal and set a five-minute timeframe as well. Notice how exactly the graphs match. Look at the VolumeProfile chart, paying attention to the peaks (maximum volume) and troughs (minimum volume). Now mark the prices corresponding to the peaks and troughs on the Eurodollar mt4 chart.
Step 8
Remember that peaks and troughs are obstacles to price movement. Seeing these levels, you will be able to fairly confidently judge where the course will stop. Pay attention to the volumes in the lower window - they allow you to judge the current mood of market participants. Trace through history how volume correlates with a trend change or breakout of support / resistance levels. Having identified the characteristic patterns, you can successfully trade in Forex using volume data from the stock market.
