Results 1 to 5 of 5
  1. #1
    Senior Member Mick's Avatar

    Strategies in bots school help!!!!! !!!

    Hi guys. I'm a bit confused with this.
    Go to bots school college- the heading is "what should I look for in a binary option strategy- now, the picture shows where to enter the trade......
    First of all it explains the opening and closing of the candle! What is an open candle and what is a closed candle???? Is it still open when it's still going up or down and when the next candle appears does that mean the previous candle is now closed??????
    The other thing I don't understand is the pic explains a call entry..... if u go down the the explanation of a call entry it says..... number 3 " a bullish fractal must be locked in etc etc etc..... now the diagram shows the candle which is red.... doesn't a red candle indicate the price going down (bearish) and the arrow is pointing down, doesn't that also mean bearish????????? But is says bullish at number 3???? Sorry but a bit confused😳😳😳😳
    Hope that makes sense!!!!

  2. #2
    Legendry Member Michael Hodges's Avatar
    yes a closed candle is when it stops moving and the next one starts. You don't want to trade on open candles.

    a red candle is down, a red arrow may mean this candle and not neccesarily down, just that this is where the signal was taken

  3. #3
    Legendry Member milos's Avatar
    Quote Originally Posted by Mick View Post
    Hi guys. I'm a bit confused with this.
    Go to bots school college- the heading is "what should I look for in a binary option strategy- now, the picture shows where to enter the trade......
    First of all it explains the opening and closing of the candle! What is an open candle and what is a closed candle???? Is it still open when it's still going up or down and when the next candle appears does that mean the previous candle is now closed??????
    The other thing I don't understand is the pic explains a call entry..... if u go down the the explanation of a call entry it says..... number 3 " a bullish fractal must be locked in etc etc etc..... now the diagram shows the candle which is red.... doesn't a red candle indicate the price going down (bearish) and the arrow is pointing down, doesn't that also mean bearish????????? But is says bullish at number 3???? Sorry but a bit confused��������
    Hope that makes sense!!!!
    Can you post link or screen shoot? It needs to be seen why you was confused by charts?

  4. #4
    Senior Member Mick's Avatar
    Quote Originally Posted by milos View Post
    Can you post link or screen shoot? It needs to be seen why you was confused by charts?
    Hi milos. I can't screenshot as I'm using my iPhone for this and have not purchased a laptop yet. The link is where I have described it at the beginning of the oringinal post. It's in the college section of bots school,
    And thanku michael for your reply.
    Last edited by Mick; 02-11-2017 at 11:39 AM.

  5. #5
    Moderator Kolyo's Avatar
    You are right Mick in your thinking. There is nothing confusing on open/closed candles. The last candle in the chart is open, all previous candles are closed. Why it is important to trade based only on closed candles? Because only this way you can rely on something that won't change anymore. Last candle is actually where the price action is still moving and you can enter into bullish open candle and than suddenly it can become bearish. There is a kind of a problem when you analyse charts produced with different software that use different time zones. Most common practice is to use charts which are set to start their daily candle at New York market close time which depending in on/off daylight saving time is at GMT+3 (summer) or GMT+2 winter time. Very often broker charts use local time, or server time and may differ from this but it can be checked, and there are many mt4 brokers where it is set automatically. Hope this helps
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
3