Saturday, March 28, 2020

How To Trade Using Candle Colors In IQ Option

Regarding options trading in IQ Option, the platform only allows you to bet HIGHER or LOWER. You can trade at any time as long as it meets your expectations. For the investment to be simpler and easier to identify, you should create good habits for the trading process. This article will guide you on how to trade using candle colors (green or red) to identify the results quickly.

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How to trade with candlestick colors within 4 steps

Determine the candle time period

I choose the 5-minute Japanese candlestick chart. So the closing time will be within the following fixed minutes: 5, 10, 15, 20, 25, 30, 35, 40, 45, 50, 55, 00.

Set the candle time period to 5 minutes in IQ Option - How to trade with candle colors
Set the candle time period to 5 minutes in IQ Option

Set the expiration time for each option equal to the candle time period

Reset your expiration time equal to the candle time period.

For example, the current candle closing time is 19:30. If you want to trade using the colors of the candle, adjust the expiration time to be closed at 19:35.

Notes: You can only set up the correct expiration time when the time is 19:29:31s. Remember to readjust the time when the 30th second passes. If not, the system will shift to the 15-minute expiration time.

Re-adjust the expiration time

Choose HIGHER or LOWER

Once you have adjusted the expiration time to coincide with the candle time period, it’s time for you to predict the direction of the exchange rate. If you predict the price to go up when the current candle closes, select “HIGHER” (green candle betting). Conversely, if you expect that the price continues to fall after the candle closes, then choose “LOWER” (red candle betting).

Choose HIGHER or LOWER

Open options as soon as the current candle closes

Get ready to open options when the current candlestick is about to close. The standard time for this operation is just 1 second right before the candle closes.

The standard entry point to open options using candle colors - How to trade
The standard entry point to open options using candle colors

When you have completed the 4 steps above, you have chosen to trade using candlestick colors. If the following candle is green, then “HIGHER” options will win. Otherwise, the red candle appears, the “LOWER” options will win. Simply follow the color of the candle to easily confirm the correctness during trading.

I have bet that the next candle is a green (bullish) one as shown below.

Trading with candlestick colors in IQ Option

Advantages and disadvantages when learning how to trade with candle colors in IQ Option

Advantages:

– Simplify the transaction process (Green or Red).

– Easily recognize the winning or losing status of an option.

– No need to care about asset rates.

Disadvantages:

– Needed a lot of practice to open options correctly because the entry point is at the end of the current candle.

Simplify other trading issues so that your long-term vision is not obscured by the so-called indicators. We choose simply but by no means inefficient.

I wish you success after learning how to trade with candle colors in IQ Option.

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The post How To Trade Using Candle Colors In IQ Option appeared first on How To Trade Blog.



source https://howtotradeblog.com/how-to-trade-candle-colors/

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