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Best Practice - Bourstrak

Best Practice

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The Bourstrak alerts are designed using technical indicators running on live market data. We do not filter the signals coming in from our tracking systems. Its possible then to receive bullish signals in bearish market conditions and bearish signals in bullish market conditions. We advise users to watch out our “How to” to get a

Bourstrak is a FREE application available on playstore. There are, however, in-app advertisements. Users get notifications credit on signup, referral to friends and by watching the in-app reward ads. These notification credits are debited upon each notification viewed by the user.

To best use these alerts, we recommend the following best practices 

 

  1. Complement these signals with others forms of technical analysis. (e.g. basic chart patterns, Fibonacci levels, pivot points etc.)
  2. Use medium-term moving average ( 60min, 120 min or a longer MA) to make a better sense of the market. Any bullish alert when the prices are above the medium-term MA or bearish alert when prices are below the MA is more credible then vice versa.
  3. There are no invalidation levels communicated with alerts. However, since we don’t filter out the signals any bullish alerts after a bearish alert and vice versa could and should be treated as an exit call (if the user so decides to initiate a position)
  4. For markets which are open 24/5 like the Forex markets the ideal time would be between 7:00CET and 21:00 CET when the liquidity is high. We strongly recommend avoiding time periods when the liquidity is thin and markets are choppy.

Below are the chart timeframes used for various assets

  1. Stock indices: 1-minute chart
  2. Forex (EURUSD, USDJPY): 1-minute chart
  3. EUROUSD Digital/Binary: 1-minute chart (ideal for 3 to 5 min trades)