If you are just starting out in foreign exchange, futures trading, or the stock market, it makes perfect sense to give everything you have a shot at accomplishing your goals. However, if you try to trade on your own without any guidance or experience, you can end yourself on a path that will result in losses. On the other hand, finding a skilled trader who is willing to hold your hand through the process is not always straightforward.
In point of fact, those individuals who provide such services charge costs that are absurdly high. The good news is that there are websites such as TradeMiner that may offer you the assistance you require in order to get off to a strong start.
What You Should Know About TradeMiner is the Subject of This Review
This is a platform that offers you insights that can assist you in making practical, investment decisions based on past data, and it does so by providing you with these insights. In point of fact, the website is predicated primarily on a historical data scanning software. This software combs through historical data and uses it to advise users on the choices that are most advantageous to make at any particular moment.
Trade Miner operates under the presumption that historical data has an influence on future patterns because of the way it operates. And despite the fact that this isn’t always the case, we can speak to the fact that it is always possible to anticipate what the future might look like by analyzing the performance of various markets in the past.
Trade Miner is a platform that seeks to boost your chances of completing successful trades, thus it would only be fair to assume that its primary objective is to do so. Previous research indicates that the accuracy of historical data trading is at an average of 80%.
The Delivery Items
There are four distinct packages available for TraderMiner to purchase. Because it mixes all three previous packages together into one tier, the first offer is considered a composite offer. The comprehensive package includes information on Stocks, Futures, and Forex, and it can be purchased for the initial price of $194; after that, the price drops to $129 each year.
But what if you have already decided to specialize in a certain field and you are solely interested in the patterns and cycles associated with it? In that scenario, the trustworthy individuals at TradeMiner provide you with the ability to select one of several options.
Retail customers can purchase individual packages for stocks, futures, and FX at a cost of $97 for the first year and $79 for each year thereafter.
And that’s not all: if you buy two of these standalone packages, you’ll automatically receive a third one at no additional cost. In addition to this, you will have the opportunity to request a refund within the first thirty days after making your purchase.
The Workings of It
If you are interested in using this platform, the very first thing you need to do is download it. In order to have access to the download link, you will first be needed to pay an upfront cost of $194 (or $97 for the standalone programs).
The good news is that this program is suitable for use with all of the major computer operating systems, such as Windows, Mac OS X, and Linux.
Therefore, in a nutshell, the software will automatically begin scanning the markets for you and presenting you with in-depth insights on patterns and trends when it finds something interesting. As a result, you will have additional time on your hands, which you can use to concentrate on developing an effective plan or to engage in currency trading forums and stay up with the most recent conversation.
We can affirm that the purpose of this software is to assist in reducing the amount of work you need to do by at least 80%. This is due to the fact that it monitors the markets and provides you with reports that have already been prepared.
1. A Brief Analysis of the Market
In order to accomplish this goal, you will need to make use of the specialized search engine made available on this site in order to look for trends or certain symbols. A unique ranking algorithm will be used to determine the order in which the historical data are ranked by the system automatically. The aforementioned system selects the stocks that have accumulated the most gains over time and places them in ascending order on the list.
The findings are accompanied by a number that ranges from 0 to 5, indicating how well they performed. In addition to the score, you will also see a button with a color-coded indicator for the strength of the particular signal.
So, for example, everything with a score of 4 or higher is often accompanied by a green button verifying that it is, in fact, a strong signal. This serves as confirmation that the signal is not weak.
A red button will appear next to everything with a rating of less than one star. Clearly, this demonstrates that you should abstain from participating in that market.
2. An Extensive Selection of Charts
The platform offers you a choice between four different kinds of charts. The first and most well-known of these is called the Historical Equity graph, and it illustrates how the market as a whole has behaved over the course of time. Then there is the comparison of the market performance from one year to the next, which gives you an overall picture of how the market is doing.
The historical risk vs. reward chart is another useful tool to have at your disposal when you are faced with the necessity of making judgments on the spot. And finally, there is the year-by-year trade, which records all the specifics of the trade that are necessary for you to make judgments that may be put into action.
Therefore, there is always a chart that you can utilize to enhance your financial situation, regardless of the trading style that you choose. And maybe most crucially, the charts are designed to be user-friendly, which means that one does not need to be an expert in order to comprehend how to make use of them.
3. Enhanced Filtering System
This technique, which is also known as the custom search optimization tool, does an excellent job of filtering the information, so assisting you in concentrating on the particulars that are significant. A wide number of filters, such as Margin per Contract, Price Range, Volume, P/E, Pip or Tic Value, Industries, and Sectors, are contained inside it.
Therefore, regardless of whether you trade in penny stocks or are a big shot investor, you can simply separate the signal from the noise. After you have done that, the results of your searches will begin to provide you with a list of suggestions that are tailored to your interests.
By logical extension, this will assist you save time that you would normally need to spend sorting through various results, which is a time-consuming process.
How You Can Benefit from Using TradeMiner in Various Ways
This helpful piece of software can be put to work for your benefit in a number of different ways. As was made clear, this technology might not be as advanced as some of the more expensive alternatives. Therefore, you will still be responsible for contributing at least 20% of the effort while the platform will take care of the other 80% on its own. Here is a straightforward approach to achieving that specific goal.
– Searching for Technical Information
This technique makes it simple for you to search for potential transactions before selecting the most promising possible options. The vast majority of individuals act in this manner on the basis of the score and the historical average returns. In addition to this, you can easily identify the stocks that have the finest technical setups by just looking at the charts that you have been provided with.
– Patiently awaiting the opportune moment to launch an attack
You are probably well aware that the stock market is notorious for its rapid rate of change. Therefore, if you want to trade as a seasonal trader, you may always rely on TradeMiner. You will then be able to observe the markets over a period of time before making an appropriate move. You may lose out on the possible profit you’d make if you constantly traded, but in exchange, you receive an additional layer of protection from the risk.
– Buying and Selling Options
When it comes to trading stocks, the most frequent approach for people to make money is by simply buying low and selling high when the stock prices are low and high and low and high respectively. Unfortuitously, there is always the possibility that you will acquire something at a high price and then wind up disposing of it at a lower one, resulting in a loss. This is a risk that you take whenever you make a purchase. The potential of TradeMiner’s options trading becomes clear at this point.
You may now limit the amount of risk you take on while yet maintaining an endless potential profit with the help of options trading. Using information from the past, the TradeMiner algorithm guides you in selecting the type of options that are most suitable for trading.
– Trading Pullbacks
There are instances when waiting for the downward trend to begin is the most effective method to benefit from a trade. Sadly, it is very difficult to identify when a pullback trend is about to take over using standard tactics. This is due to the fact that pullback trends are so unpredictable. However, if you use the TradeMiner system, you will be able to keep track of seasonal tendencies and be prepared to capitalize as soon as prices begin to move in the same direction as their long-term historical trend.
– Doing a Double Check on Everything
You can sign up for Trade Miner as a backup system even if you are already a member of another stocks and forex trading site that supplies you with trade settings. If this is the case, you can sign up for Trade Miner. On this basis, you will always be able to double-check the various callouts to determine whether or not they conform to the anticipated historical pattern and market cycles. And by doing so, you can protect yourself from being misled by misleading signals.
– Transactions Conducted While Traveling
You always have the option to have the Trade Miner system give you individualized alerts through the medium of email. That eliminates the requirement that you spend the entire day glued to your computer screen in anticipation of signals and call outs. That, of course, gives you more leeway to spend your time doing the things in life that bring you the most joy.
And in this way, you can rest assured that you won’t end up placing trades that go against historical trends – because doing so would be analogous to trying to walk up an elevator that’s going down. And this way, you can rest assured that you won’t end up placing trades that go against historical trends.
Which Kind of Trader Would Benefit Most from Utilizing the TradeMiner?
It appears that inexperienced traders are the primary target audience for this Trade Miner. You will gain the self-assurance you require to begin making decisions that will lead to increased profits through their thriving instruction center, which is available to you. Therefore, we believe that this is an excellent platform for anyone who would like to gain an understanding of the fundamentals while also making some money.
If you are an experienced trader, there is a good probability that you will not find Trade Miner to be of much use to you. This historical scanning tool, on the other hand, would be of utmost significance for you if your goal is to strengthen your approach and increase your level of self-assurance. This is especially true in situations in which you need to double examine your moves only to make sure that they are in keeping with important historical trends.
Why Is It Important to Use Backtesting Tools, Such as Trade Miner?
It has been demonstrated time and again that cyclical behavior is characteristic of currency pairs, futures, and stock prices. That is, they tend to stick to a routine that is nearly identical from year to year. Now, the obstacle that needs to be overcome is figuring out how to keep up with those cycles.
Traders have gained even more power and confidence as a result of the introduction of backtesting tools such as Trade Miner onto the market. They are now able to find and comprehend various patterns. And in this approach, one can trade sensibly even without having to keep tabs with a big number of past data. [Citation needed]
In instance, TradeMiner contains more than 40 years’ worth of historical data relating to trading. This indicates that, during the course of its existence, the system has evolved into one of the greatest libraries available to dealers.
Pros
• You only need to pay a one-time yearly fee, and there are no additional monthly fees to be concerned about
• The software is pretty easy and straightforward to install
• You only need to pay a one-time yearly fee, and there are no additional monthly fees to be concerned about
• The system is fairly simple to operate
This is solely an analytics system that is driven by data.
Cons
• They don’t appear to place a lot of importance on the requirement for one-on-one mentorship • Historical data isn’t often accurate to the hundredth of a percent
Conclusion
Even while TradeMiner is far from flawless, it is without a doubt something that should be investigated further. We would suggest it to novices who are working with a very limited spending plan and don’t mind taking things at a more leisurely pace in the beginning. In a similar vein, we would recommend it to expert traders who are searching for a method to complement their existing trading tactics.
In any light in which you choose to examine it, using this historical scanning program is an excellent approach to keep your money safe. In addition, given that it is a method that is supported by evidence, it would be an excellent asset to the toolkit of any astute investor.
