In the vast financial world, to make money you need to have knowledge. From there, develop an effective trading strategy with your own set of principles. In the long run, profits will flow into your account steadily. There is no need to spend time and money to join a signal room. Because you can find the perfect trading signal with Marubozu candlestick and SMA30.
I have a friend who was tricked into a fake signal room with a sky-high fee. So I’m going to show you the signs of fake or scam signal rooms. But don’t assume that all signal rooms are bad when you haven’t met the quality one!
How to identify a “fake” signal room
Groups or rooms that always boast about profits earned on IQ Option are not reliable. Only the money entering their bank accounts is real. Otherwise it is just fake. Because you can lose again as soon as you take a picture to post on facebook/twitter to show the world.
So you need to be careful with those ones. Their common behaviors are:
– Taking profits continuously with a larger volume.
– Often showing off their wealth.
– To join the group, they make you pay a very high fee.
– Always commit 100% profit to members.
If there is any one that acts like one of those bullet points above, you need to be careful. Because there are very few people who really make money from the forex market.
Why does the signal room appear a lot these days?
If there is no supply, then there is no demand. Before blaming those people for creating rooms and groups just to scam, you must also look at yourself. Some newcomers just joining the market think that there will be someone who will help them make money when they join a certain signal room. They belive this is a simple way to make profits and not require any effort at all. That is the wrong thinking of newbies when entering the forex market.
Remember in life there will be no easy job, especially trading. If you don’t have knowledge, you will always be a failure or good prey to target for bad guys.
So if you want to make sustainable money at IQ Option, you need to have 3 factors for yourself
– Trading strategy
– Capital mangement
– Trading psychology
You can forge the above elements in the best way with the extremely detailed lessons at this blog. It will bring real profits, not the frivolous things that the bad guys paint. Ok! Now it’s time to review the trading strategy with Marubozu candlestick and SMA30.
Review the Marubozu candlestick and SMA30 trading strategy
Currency pair: EUR/USD
Balanced capital management, each order 100$
Note: You observe 1-minute chart but will open an order with a 5-minute expiration time.
Order 1: On May 24, the EUR/USD currency pair cut the SMA30 from below with the Bullish Marubozu candlestick. Opened a HIGHER order as soon as the breakout candletick closes above the SMA30.
Order 2: Also at the EUR/USD pair, the price cut the SMA30 line from above with the Bearish Marubozu candlestick. Placed a LOWER trade order right after that.
Order 3: When the price of the EUR/USD currency pair crossed the SMA30 with the Bullish Maruzobu candlestick, it was a signal to enter a HIGHER order.
Order 4: At the EUR/USD currency pair, the price cut the SMA30 from above with the Bearish Marubozu candle. Opened a LOWER trade order.
In short, with 4 trading orders 3 winning 1 losing, the winning rate is 75%. This is the provisional statistic of one trading day. To have clear and accurate numbers, you can count over 50 orders. But I am sure that if you follow the trading rules, the win rate is not less than 70%.
Summary of Marubozu and SMA30 strategy
Breakout trading is a strategy used by experienced traders. It gives an unsurpassedly high win rate. And the method of entering orders with Marubozu candlestick and SMA30 fully meets that safety criterion as described in the review above.
If you feel it’s right for you, let’s test it out on a Demo account thoroughly before trading on Real account.