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How to withdraw the money you earned with FBS?
The procedure is very straightforward. Go to the Withdrawal page on the website or the Finances section of the FBS Personal Area and access Withdrawal. You can get the earned money via the same payment system that you used for depositing. In case you funded the account via various methods, withdraw your profit via the same methods in the ratio according to the deposited sums.
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How to open an FBS account?
Click the ‘Open account’ button on our website and proceed to the Personal Area. Before you can start trading, pass a profile verification. Confirm your email and phone number, get your ID verified. This procedure guarantees the safety of your funds and identity. Once you are done with all the checks, go to the preferred trading platform, and start trading.
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How to start trading?
If you are 18+ years old, you can join FBS and begin your FX journey. To trade, you need a brokerage account and sufficient knowledge on how assets behave in the financial markets. Start with studying the basics with our free educational materials and creating an FBS account. You may want to test the environment with virtual money with a Demo account. Once you are ready, enter the real market and trade to succeed.
Bulls Power and Bears Power
The Bull Power and Bear Power are the oscillators developed by Dr Alexander Elder. They measure the power of buyers (bulls) and sellers (bears) to push the price in their favor, i.e. above or below a baseline. The two indicators combined are known as Elder-Ray Index. The function of a baseline is often performed by a 13-period Exponential Moving Average (EMA) of closing prices.
The logic is simple: the market situation is constantly changing as bears turn into bulls and vice versa. The indicators help to track this conversion and trade on it.
How to implement
The Bull Power and the Bear Power belong to the default set of MetaTrader. You can add them to the chart by clicking “Insert” – “Indicators” – “Oscillators” and then choosing “Bull Power”/“Bear Power”.
You can use the indicators individually but there’s much more sense to use them together as was planned by Elder. In addition to both indicators, plot the 13 EMA itself on the chart as well. This way you will combine the oscillators with a trend-following tool and increase the quality of the entry signals. The exponential moving average acts as a filter: it shows a trend, so that a trader could pick only those signals which are in the direction of this trend.
How to interpret indicators of Bulls Power and Bears Power
All 3 indicators form a kind of basis for a trading strategy.
A setup for a buy trade occurs when the following conditions are met:
- EMA is increasing.
- Bears Power is negative but increases.
There are also other optional cut desirable conditions:
- The last peak of the Bulls Power oscillator is higher than the previous one.
- There’s a bullish divergence between the Bears Power and the price (the price is setting lower lows, but the Bears Power fails to do so).
It is better not to go long if the Bears Power is positive.
A setup for a sell occurs when the following conditions are met:
- EMA is decreasing.
- Bulls Power is positive but decreases.
There are also other optional cut desirable conditions:
- The last low of the Bears Power oscillator is lower than the previous one.
- There’s a bearish divergence between the Bulls Power and the price (the price is setting higher highs, but the Bulls Power only manages to form only lower highs).
It is better not to go short if the Bulls Power is negative.
All in all, the Bulls/Bears Power indicator allows seeing the forces that are driving the market and suggest a simple but efficient basis for a trading strategy.
2023-05-25 • Updated
Other articles in this section
- McClellan Oscillator
- Aroon Indicator Trading Strategy
- Currency strength
- Moving Averages Ribbon: How to Find Entry Point
- Timeframes
- Renko charts Japanese candlestick chart
- Types of charts
- How to Use a Heikin-Ashi Chart?
- Quantitative Easing Policy (QE)
- Pivot Points
- ZigZag
- Moving Average
- Williams’ Percent Range (%R)
- Relative Vigor Index (RVI indicator)
- Momentum
- Force index
- Envelopes
- Average True Range
- How to trade on central bank decisions?
- CCI (Commodity Channel Index)
- Standard deviation
- Parabolic SAR
- Trading with Stochastic Oscillator
- Relative Strength Index
- MACD (Moving Average Convergence/Divergence)
- Oscillators
- ADX indicator
- Bollinger bands
- Trend indicators
- Introduction to technical indicators
- Support and resistance
- Trend
- Technical analysis
- Central Banks: policy and effects
- Fundamental factors
- Fundamental Analysis in Forex and stock trading
- Fundamental vs technical analysis
