In the previous article we’ve analysed the main tools used particularly in trading and crypto trading. We\u0027ve explained such important element as a chart. Keep in mind that charts can be different, and each trader can use different charts and time frames. For example S#.Data (Hydra) program may build charts of various trading elements and time frames such as ticks, candles with various periods and volume charts. All of this give you a wide look to analyse the market, assess risks and its perspectives.🤓 trade-build-charts.png A pair may have different charts which can be distinguished by time frames. So for instance, the chart can be of 5 or fifteen minutes period. These periods named are Time Frame.😄 trading-periods-timeframe.png charts-timeframes.png Let\u0027s look at the basic elements of Japanese candle. The rectangles on the chart is the body of a candle. The body of candle is formed based on the values of beginning and the end of the chosen time frame. charts-candle-body.png A candlestick is a type of price chart, and its candlestick can have bullish pattern if the opening price is lower the closed price, or in the opposite direction is bear candlestick. In the S#.Data (Hydra) program candles adopted green and red colour therefore we can determine the rise or fall of selected exchange tool. Also, a shadow is a line found on a candlestick chart which indicates the maximum and minimum price during the forming process. In the case of the absence of the upper shadow is considered that candle\u0027s top being cut off or the opposite is the base is cut off. 🥷 A Doji is a candlestick with no real body, where the open price is equal to the closed price. If the body of the candle is small, then it is called a spinning top. S# programs allows traders to read candles as much as possible. A friendly interface and advanced analyses tools make them crucial for traders because the ability to read the candles it reduces the risks, especially in crypto currency market.😉
Speculative trading is widely spread type of trading on most well-known exchanges nowadays. Without any doubts the crypto exchange is not an exception. Buying cheap and then selling it for a higher price is the basic principle of classic trading.😉 From now onwards it should be said that for a trader who trades foreign exchange or securities market the move to the sphere of crypto trading going to be enough clear and simple to understand. 😄 Besides it, we need to mention that the crypto trading becoming a very popular among beginners. This is due to ease access and loads of trading platforms along with name of tokens (cryptocurrencies). Let\u0027s review the crucial tools for traders for a quick introduction of the base principles of crypto exchanges.🤓 ***- Graphs An order to buy or sell History of executed orders, trading volume (market data)*** Let\u0027s look at these components one by one. 🤓 ***Our first financial tool is a graph or chart. ***Most of the best trading software programs give the building graphs a high priority. So, for example, all software from S# have function to build graphs to capture the whole information of a current trade. Moreover, our free trading terminal S#.Terminal make it possible to trade right from the graph. ❤️ cryptocurrency-trading.png So what do we mean by repeatedly saying the word graph? The chart(graph) - is a history of quotations of a crypto pair, the ratio of the rate of one crypto pair to another including the ratio of fiat money (dollar, euro, and others). The most popular chart is Japanese candlesticks, they provide maximum needed information and provide the ratio spread (the difference between the best sell (ask) and the bid (buy) that are relevant now on, the smaller the spread, the greater the liquidity of the given security)🥷 A Japanese candlestick is a type of price chart that\u0027s main because of its very informative and the view of price movement for the chosen period of time. It makes it simple to do technical analyse of trading strategies, adjust, and correct the trading robots were built by it. More detailed explanations about candles we will tell in new article.😉