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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.
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How to open an FBS account?
Click the 'Open account' button on our website and proceed to the Trader 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 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 Trader 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.
Fibonacci tools
Fibonacci tools are constantly used by Forex traders. To apply them to your charts in MetaTrader, you need to click “Insert” button of the menu and then choose “Fibonacci”. You can find several Fibonacci tools in your trading terminal: retracement, expansion, fan, arcs and time zones. All of these tools are based on Fibo ratios.
Let’s study the logic behind the Fibonacci instruments.
In the 13th century, mathematician Leonardo Fibonacci researched a series of numbers (0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, etc.). Every number in this sequence is the sum of the two preceding ones. It turned out that the ratios of these numbers correspond to the natural proportions of the things in the universe. For example, tree branches form or split in line with Fibo numbers, seed pods on a pinecone are arranged in a Fibonacci spiral pattern, etc.
Financial markets are no exception: different movements of the market are often consistent with Fibonacci ratios as well.
Fibonacci sequence has some constant ratios. The most important Fibo ratios are:
- 161.8%, the “golden ratio” (the ratio between any number of the sequence and the preceding one, ex.: 89/55 = 1.618).
- 61.8% (the ratio between any number of the sequence and the following one, ex.: 55/89 = 0.618).
- 38.2% (the ratio derived from skipping 1 sequence in division e.g. 55/144 = 0.382).
Among the Fibonacci tools, we have mentioned the most useful for traders are Fibo retracement levels and Fibo expansions, but fan, arcs and time zones and also be quite helpful.
Fibonacci ratios also play an important part in the Elliott wave theory and harmonic patterns.
2023-05-09 • Updated
Other articles in this section
- Fibonacci fan
- Fibonacci expansion
- How to Use Fibonacci Retracements
- Reversal candlestick patterns
- Continuation candlestick patterns
- How to deal with market noise?
- How to backtest a trading strategy
- Gator Oscillator
- Market Facilitation Index
- Accelerator Oscillator
- Awesome Oscillator
- Ranges
- Alligator indicator
- Bill Williams theory
- Fractals
- Chart patterns
- Uncovering Gann indicators
- How to create your own trading strategy?
- Candlestick patterns
- Trend trading
- Carry trade
- Swing trading
- Position trading
- Day trading
- Scalping
- Trader's psychology
- How to identify market reversal
- Japanese Candlesticks
- Trends
