crypto mining

The process of mining is done in order to accomplish these things:

  • Mining is done in order to provide a bookkeeping service to the network of coins. This is a 24/7 accounting done on the computer which is called verifying transactions.
  • You are paid in the form of fractions of coins which is basically a reward that is awarded to you for your work
  • Keeping your personal costs like hardware and electricity down

What do you need to mine the cryptocurrencies

If you are looking to start mining cryptocurrencies then you would need these ten things to start:

  • A private database for free. This is called the coin wallet. The container is completely password protected and it stores your earnings. It also keeps the ledger of the network-wire transactions
  • A software package that lets you do free mining. This could be made up of stratum or cgminer
  • A mining pool online membership. This is a membership to the miner’s community. They combine computers to increase stability as well as profitability.
  • An online currency exchange membership. Here you will be able to exchange the virtual coins for the traditional cash and the other way round too
  • Reliable and a full-time internet connection. It should be at least 2 megabytes per second ideally or speed that is faster
  • A setup location for your hardware which should be in an air-conditioned or a cool place
  • A custom built computer or a desktop that is designed for mining. You can start off with the computer that you use currently but this will not let you use the computer when the miner starts to run. You should thus keep a separate computer that is used solely for mining. Make sure that you do not use a gaming console, a laptop or a handheld device to mine the cryptocurrency. These cannot generate the desired income for you since they are not very effective
  • A GPU or ATI graphics processing unit or an ASIC chip which is a specialized device for processing. These provide the accounting services and do the mining work
  • A fan that will continuously blow on your computer that is mining. This is because a lot of heat is generated when mining and thus you need to make sure that the hardware is kept cool
  • A curiosity to learn and keep updated. You should want to read and learn the changes in technology and learn new techniques that help to optimize the mining of cryptocurrencies. You should be able to dedicate many hours each week to adjust and improve the performance of mining coins.

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Why Trading Platforms Emphasis On Testing?

The trading world with its Forex trading, Bitcoin, cryptocurrency mining and all other such avenues has gained immense popularity in the recent past. This has intrigued many people who have no earlier experience of trading but would like to try their hand at it.

Because of an increase in the demands, there has also been a significant rise in the number of automated trading robots.

What are automated trading robots?

Automated trading robots are software that assists users in carrying out trades related to Bitcoin, Forex trading, cryptocurrency and much more. This software has been designed with years’ worth of hard work and experience. They have been enabled to function in the ‘autopilot’ mode. This means the system has been designed to carry out trades right from looking out for lucrative deals to even executing them on its own.

This is why it facilitates the users who are new to the field or possess little or no knowledge about the trading world. In fact, the system requires practically no assistance from the user, so it can even be an amazing secondary income. People can continue their full-time jobs and still earn using automated trading robots.

Can automated trading robots be trusted?

With a rise in the demand, invariably there was a hike in the number of automated trading robots. Unfortunately, not all these platforms are genuine. There are many websites that seem honest but are in fact scams or bogus websites that put your personal information as well as funds at risk.

What are the signs of a genuine automated trading robot?

Since it is difficult to tell the difference between an authentic automated trading robot and a fake one, it can often get confusing for an inexperienced user. Fake websites will make some huge and unbelievable promises and most often not deliver at all.

A genuine website has many signs that ensure a user they are investing with a good trading platform. Firstly, all the test results conducted on the system will come back with positive results. Any and every kind of detailed review will have only positive reviews with no signs of any red flags or suspicious activities going on. Other than that, a good automated trading robot will take the effort of keeping all personal data of their users will be protected in an encrypted form. QProfit System is one of the recent examples of a fully automated and reliable trading robot.

And finally, the most important proof is the feedback from past users. When users have been happy and written positive testimonials about the website, it ensures a user that it is a safe platform to invest in.

A good automated trading robot will also have a fully functional customer support staff to provide anytime assistance.

We’re happy to announce that ActionBinary and the QProfit System by Jerry Douglas have teamed up as the automated trading software will provide data to our analysts.

Although being relatively new to the market, the QProfit System has already proven its’ reliability with a success rate of up to 95%.

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Boss Capital also gives out bonuses to first time depositors. Depending on what kind of account you open, you can get a reward which will go directly to your trading account. You can even go as high as doubling your initial deposit. This gives you twice the money you have invested to place any kind of trades you like.

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Technical Analysis – EUR/USD

 

EUR-USD-28-10-2013

 

EUR / USD: Current level of the currency pair is 1.37975

 

Today’s expectations for the price are for upward movement. It is possible shallow correction towards the level at 1.3770 and then to resume  its upward movement with target the level at 1.3880.

 

Intraday resistance: 1.3880
Intraday support: 1.3747

 

Technical Analysis – USD/JPY

 

USD-JPY-28-10-2013

 

USD / JPY: Current level of the currency pair is 97.689

 

Currently pair is trading near the resistance level at 97.90. Forecast for the pair is still negative with target the level of support at 97.196.

 

Intraday resistance: 97.90
Intraday support: 97.196

 

Technical Analysis – XAU/USD

 

XAU-USD-28-10-2013

 

Current level is 1348.91

 

Gold is trading steadily above the support level at 1330.00. Upward trend remains and expectations are for  bullish momentum towards 1375.18-1400 dollars.

 

Intraday resistance: 1375.18
Intraday support: 1330.00

 

 

This Technical Analysis is provided by Dimitar Petkov

 

The charts and analyses in this article do not comprise any form of advice or recommendations by ActionBinary.com to buy, sell (or refrain from making) any trade or investment. It is recommended that you seek independent advice before entering into transactions.

 

“Triangle” formation of Candlestick chart

The next formation, which I will discuss is called the “triangle.” Triangles are trend confirming as well as trend reversal figures. Triangles are one of the most common pricing models on the market, they come in three types – symmetrical, ascending, descending.

The first triangle discussed here is symmetrical – in Figure 11.

  

Fig. 11 symmetrical triangle

The shape (symmetrical triangle) is formed, when the subsequent highs are lower than the previous ones and the subsequent lows are higher than their previous ones. Drawing trend lines through the respective lows and highs leads to a triangle shape (symmetric in this case). The height “H” which can be observed on the wide side of the triangle is equal to the target price after the breakthrough, whether in ascending or descending direction. Price does not always reach the full height “H”, but in most cases gets up to 85% of the height (H). This in particular may be used as a base for performing the Take profit action. The next triangle figure we will observe is the ascending one. This triangle is almost identical to the symmetrical one with one difference – the upper line (line of resistance) is horizontal. This triangle is called “ascending ” because after a breakthrough in the Strong level – the line of resistance – the price continues to move upwards. Figure 12 shows an ascending triangle.

 Triangle

Fig. 12 Ascending Triangle.

The symmetrical and ascending triangle both use the same strategy as follows. The height “H”, which is equal to the wide side of the triangle is equal to the target price after breakthrough in the ascending direction. The price in this case also does not always reach the full height “H”, but in most cases gets up to 85% of the height (H). And again, this may be used as a base for performing the Take profit action.

The last triangle we will discuss is the descending triangle. Its structure and construction method are not different from the previous models with the only difference that it is used in a descending direction.

Triangle

Fig. 13 Descending Triangle.

Similar to the symmetrical and ascending triangles, the descending triangle uses the following strategy. The height “H”, which is equal to the wide side of the triangle is equal to the target price after breakthrough in the ascending direction. The price in this case also does not always reach the full height “H”, but in most cases gets up to 85% of the height (H). And again, this may be used as a base for performing the Take profit action.

Levels of support and levels of resistance.

When do we observe levels of support and levels of resistance?

The financial market does not ever stop in one state, the prices of financial instruments constantly move either upwards or downwards. When the price of a financial instrument rises, this is called a bull market (dominated by buyers). And when the price of an instrument goes down, this is called a bear market (dominated by sellers). Levels of support and resistance are determined depending on the market trends. The price reaches a certain level, then bounces back or breaks the level. This is called a “level of support” if an descending price changes into an ascending price, and a “level of resistance” – if the price changes into a descending price after reaching the level. Figure 14 shows the levels of support and levels of resistance. When the price is above a specific level, then we say that level is a level of support, but when the price is below that level, then the level is a level of resistance.

Head and shoulders

Trend cannot last forever and sooner or later it ends. Signs of its slow down or turn usually are typical pricing models – shapes and formations formed by the graph. The first formation that I will discuss is called “head and shoulders”, it belongs to a trend reversal figures (Figure 8).

Head and Shouders

Figure 8 shows how after an uptrend we obtaine figure “head and shoulders”. The elements of the formation are as follows:

LS – left shoulder.

HEAD – head.

RS – right shoulder.

Neckline – through the door.

H – height of the head to the neckline (neckline).

H – height, a new target in the middle of the neckline.

Price behavior after breakthrough the neckline is the following: It reaches a certain distance above the neck, and set up (left shoulder-LS), and then fall to the neckline (closes above it). After that there is a new uptrend, the price reaches over the left shoulder, where forming head (HEAD) of the figure. The next move is again descending, the neck reaches line (neckline) reflects from it and sweep upward by forming the right shoulder (RS). Upon the lowering of the price it breaks the line of the neck (neckline) and close below it. Next target price is the height H in the opposite direction of the head. After reaching the target price, follows the neck line test (test-neckline). The price is unable to break the neck line and the trend goes in a downward direction. That formation is considered the large frames (time frame) from four hours up (daily, weekly, monthly).

Depending on the formation of Candlestick chart we observe three types of trend (direction-the direction of the price). They are:

Uptrend – also known as “bullish trend»

Downtrend – known among investors as “bearish trend»

Horizontal trend– range , side trend (price moves sideways in a narrow range)

Uptrend (bullish trend) – we can see where the market is dominated by buyers and observe when Lay trend line through the bottom of the timing and direction of the trend is upwards, as on the chart here:

 

Trend

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Downtrend (bearish trend) – we can see where the market is dominated by sellers. Downward trend is observed when though the picks of the chart we make a trend line and it goes in a downward direction as shown in Figure 6.

 

Trend

 

 

 

 

 

 

 

 

 

 

 

 

 

Horizontal trend (Range – side trend) – We observe it, when the price goes at one side and reaches the same price levels, without  any clear upward or downward trend. Figure 7 shows a horizontal trend.

 

Trend

 

 

 

 

 

 

 

 

 

 

 

 

After looking at different trends, we now look at the formations and shapes which form the candlesticks. They could be trend confirming  and trend reversal patterns.

 

The next and most frequent schedule of technical analysis is a “Candlestick chart”. The reason for using this type of chart is that it gives very full and clear visual information about the price change. Candlestick chart are widely used in making technical analysis. I will pay special attention to this type of charts, intensify in the description of the graph, the information given and the formations built.

They often show trend confirming figures or trend reversal formation, formed by series of candlesticks.

The structure of the graph type “Candlestick chart” is shown in Figure 3 and expresses the following:

Candlestick Chart

Open – Open Price

Closed – Closing price

Peak – The highest price

Bottom – The lowest price

Wick (shadow) – Is a shadow of the candle, the price for that period of time.

Depending on whether the candle is bullish (rising – the closing price is higher than the closing price) or the sword (lowering – the closing price is lower than the opening price) Candlestick chart changes the color. Rising candle fills and stays white while lowering candle is filled in black.