BINARY & FOREX TOOLS – PIVOT CALCULATORPivot points are major support and resistance levels where there is likely to be a retracement of price. As such pivot points can serve as fairly accurate entry and exit indicators. The way pivot points are traded and what strategies suit you depends on what kind of trader you are. When trading pivot points it is best to trade currency pairs that trend. Probably the best currency pair’s exchanges for pivot point trading are the EUR/USD, the GBP/USD, the USD/CHF, the USD/JPY and the NZD/USD.
How to use the Pivot Point Calculator?
To use this calculator please type in the high, low and closing value of the commodity, currency or asset of your choice and the calculator will give you the important pivot point levels. The main purpose for pivot points is to alert the trader as to key support and resistance levels that other market participants around the globe are also looking at. They are mainly based on the previous day’s price action. This usually means that significant price action should take place at or around this level. The other pivot levels are also important and can serve as support and resistance but less so than the pivot itself.
BINARY & FOREX TOOLS – FIBONACCI CALCULATORUse the Fibonacci calculator to generate retracement and extension levels in up and down trends. Fibonacci levels are used by traders to indicate potential significant support, resistance, and extension price points.
How to use the Pivot Fibonacci Calculator?
Enter the high and low price for the stock, future, currency or commodity from the previous day into the input boxes above labeled High and Low. If you want to change the number of decimal places shown after the period you can change the value in the Decimal Points input box. When you’re ready to calculate the Fibonacci ratios for your high and low prices click Calculate the calculate button.
FOREX TOOLS – DEAL SIZE CALCULATORIf there is one thing we repeat ourselves about, it is risk management your trading edge. It is key, and without it, you will just join the rest of the crowd, losing more than you should, which eventually can lead to ruin. By taking a second to simply input the values in the deal size calculator, you will never be confused as to how many units of a particular asset to buy or sell.
How to use the Deal Size Calculator?
Using the Deal Size Calculator is straightforward, type the total amount of your account in the top box, type the desired amount of risk in percentage, followed by the amount of pips before your stop gets triggered. Once all 3 fields have been updated, clicks calculate, you will now see the total amount at risk and the amount of units you need to buy or sell. Knowing in advance the amount of units you need to buy or sell in a particular asset is paramount, with numbers crawling all over your screen, it is often confusing to work out risk, pips and deal size all at once, while concentrating on so many other things at the same time
FOREX TOOLS – PIP CALCULATORUse the Pip Calculator to determine the pip value of several major currency pairs in several lot sizes, and based on your trading account base currency. The Pip Calculator supports over eight base currencies and over 15 currency pairs. The values are based on real-time currency exchange rates.
How to use the pip Calculator?
Always be sure to know what each pip is worth. To use the pip calculator, type in the amount of lots you wish to trade, and then choose the currency pair and the currency your trading is conducted in. Once you click calculate, you will see what each pip is worth and if it’s in accordance to your risk management rules.