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Learning All About Forex Charts Before You Start Trading

By Orlando Elliott Thompson
Expert Author Orlando Elliott Thompson

Forex Charts are based on the forex market action involving price. Charts are a major tool in forex trading. There are many kinds of charts, each will help to visually analyze the forex market conditions, assess and create better forecasting, and identify forex market patterns and behavior.

Forex charts and spreads weigh heavily on the return on your trading strategy (this can have a huge affect on your profit or loss). As a trader, you are solely interested in buying low and selling high (like futures and commodities trading on Wall Street). Wider Forex charts and spreads means buying higher and having to sell lower.

A half-pip lower spread does not necessarily sound like much, but it can easily mean the difference between a profitable trade and one that losses money. The tighter the spread is the better things are going to be for you (Happy Days).

Nevertheless, tight Forex charts and spreads are only meaningful when they pair up with good execution of a well laid out trading strategy. A good example of this is, as you analyze your forex chart it shows a tight spread, but your trade shows it has filled, or mysteriously rejected.

When this occurs repeatedly, it means that your broker is showing tight Forex charts and spreads but is effectively delivering wider Forex charts and spreads. Rejected forex trades, delayed execution, slipping, and stop-hunting are strategies that some brokers use to get rid of the promise of tight Forex charts and spreads (so be on the look out for this type of activity and run fast if you notice it).

Both the technical and fundamental forex analyst uses Forex charts. The technical analyst analyzes the "micro" movements, trying to match the actual occurrence with known patterns. The fundamental analyst on the other hand tries to find correlation between the trend seen on the chart and "macro" events occurring parallel to that like (political and other events).

As you can imagine, reading and understanding forex charts can get confusing for the inexperienced trader. You can get most charts now online, as part of a subscription service, and they most often include frequent updates. Because technical analysis is such a popular method of forecasting and predicting movements in the forex market, there are many services available online.

If you would like to become more proficient in Forex chart techniques (and I highly recommend you do), joining a service that provides charts via the Internet, and assistance in reading and analyzing the chart information, this can be very helpful and profitable in the end.

So let us not talk a little about the different types of Forex Charts Line Charts The simplest form, based upon the closing rates (in each time unit), forming a homogeneous line. (Such charts, on the 5 minutes scale, will show a line connecting all the actual rates every 5 minutes).

This forex chart does not show what happened during the time unit selected by the viewer, only closing rates for such a time. Line Charts are the best simple way to chart for support and resistance levels.

Point and figure charts

Point and Figure Charts are charts based on price without time. Unlike most investment charts, point and figure charts do not present a linear representation of time. Instead, they show trends in price. A rising stack of Xs represents increases, and a declining stack of Os represents decreases.

This type of chart used to filter out non-significant price movements, and enable you (the trader) to determine critical support and resistance levels quickly.

Bar Chart

This chart shows three rates for each time unit selected: the high, the low, the closing (HLC). There are also bar charts including four rates (OHLC, which includes the opening rate for the period). This chart provides clearly visible information about trading prices range during the time period (per unit) selected (very valuable information).

Candlestick Chart

Kind of chart based on an ancient Japanese method. The chart represents prices at their opening, high, low, and closing rates, in a form of candles, for each time unit selected. The empty (transparent) candles show increase, while the dark (full) candles represent decrease.

The length of the body shows the range between opening and closing, while the whole candle (including top and bottom wicks) show the whole range of trading prices for the selected time unit. Pattern recognition is a field within the area of "machine learning".

Alternatively defined as the act of take in raw data and taking an action based on the category of that data. As such, it is a collection of methods for "supervised learning".

A complete pattern recognition system consist of a sensor that gathers the observations to be classified or described; a feature extraction mechanism that computes numeric or symbolic information from the observations; and a classification or description scheme that does the actual job of classifying or describing observations, relying on the extracted features.

In general, the forex market uses the following patterns in candlestick forex charts:

Bullish Patterns - hammer, inverted hammer, engulfing, harami, harami cross, doji start, piercing line, morning star, morning doji star.

Bearish Patterns - shooting star, hanging man, engulfing, harami, harami cross, doji star, dark cloud cover, evening star, evening doji.

Note: Keep in mind these are just general and not all-inclusive as the forex market is huge and are so with the charts and techniques.

Let us now look at the 5 top errors made where forex charts are concerned and why you should stay away from them.

1. Predicting with Forex Charts

A common mistake made by inexperienced forex traders (and some more seasoned),is thinking they need to predict to get profitable results - but of course this is simply hoping or guessing and is destined to see you lose. If you use charts the correct way, you will trade using the price changes and trends, you will not need to predict.

There is a big industry in forex trading that says prices move to a scientific theory and you know what will happen next - but of course, if prices did move to science, we would all know the price in advance and there would be no market.

Do not set yourself up and believe the prediction nonsense - make all your trades using reality of price change i.e. if a price comes to support, don't predict support will hold, wait for it to move the other way and trade based on the fact it has held.

Another great way to trade is to trade now breakouts to new highs or lows - it is a proven fact that most big moves start from these breakouts, so you should make breakouts a consistent part of your forex trading strategy.

2. The More Inputs the Better

You may think five or six indicators must be better than one or two - very wrong!



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Timing in Forex Charts - Gann's Mysterious Little Angles & the Secret to Timing in Forex Charts

By Nigel Banks

When W.D. Gann died in 1955 he had amassed over $50 million USD directly from trading profits, which was a very considerable sum for the time. And his charts and methods are still helping Forex traders make critical timing decisions.

His methods for market timing came to be nicknamed Gann angles, which are simply geometric angles that allow you to predict good entry and exit levels for market timing.

The strength of these angles was based on Gann's belief that by studying the past we can predict the future." based his investment strategy on the fact that by "studying the Past, We Can Predict the Future."

And he observed that the only factors that are important for predicting markets are price, time and range. And he also observed that the markets are cyclical in nature, and that these cycles have a geometric component to their structure because they are based on human nature which is fairly predictable over time.

Gann And His Angles

Based on those premises Gann developed 3 methods to predict where the markets would turn.

Method #1. Price study - The use of support and resistance lines and predictive angles.

Method #2. Time study - The use of historically reoccurring dates for developing predictive market turns.

Method #3. Pattern study - The use of classical charting patterns to fine-tune the entry and exit times of the markets.

The Little Understood Angles

Gann's angles are probably one of the most mysterious and alluring trading methods around. They work by using Fibonacci levels, which are a larger topic than we have time for here.

Gann used these Fibonacci levels or pivot points as a starting point for his angles. He would decipher the correct price swings based on the Fibonacci sequence for the markets and then would apply his angles.

The most common angles Gann used on charts were the 1x1, the 1x2, and the 2x1. Which are all simply ways of expressing the slope of the lines coming from the price swing points. For instance the 1x2 angle is half the slope of the 1x1 angle. The numbers simply indicate the number of units and the slope.

These angles are projected out bases on market trend. So a Forex chart that was dropping or bearish would be projected downward and to the right from a high point and vice versa for a bull market.


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Candlestick Charting Getting Hot in Forex

By B.M. Davis

Forex trading is getting hot and there is no end to the online traders making their way over to forex trading in sight! Just as hot are the new methods of candlestick charting the forex market that until recently have remained a mystery, if not completely unknown to the forex trader. As a matter of fact, many seasoned forex traders say candlestick charting doesn't work while trading forex! Nothing could be farther from the truth. As a matter of fact, I believe that candlestick charting is the best method for the forex trader for a variety of reasons.

The forex markets are possibly the most volatile market one can trade in. On one hand, this is what appeals to the currency trader due to the frequent large quick moves. On the other hand, many traditional methods of technical analysis are left failing the new forex trader due to these same conditions. What the trader needs to concentrate on in any highly traded currency pair is the strength and psychology of the buyers and sellers. Candlestick charting fits this requirement perfectly. Analyzing a forex chart with candlesticks can quickly identify changes in both power and psychology between buyers and sellers and can immediately alert the forex trader of trading opportunities.

Many new traders in forex come from the world of stock trading and along with them come the indicators common in Western technical analysis. These indicators are quickly dispatched as useless in such a volatile market as currency trading. To make matters worse, those traders who bring their knowledge of candlestick charting as it pertains to the stock market are also quickly disappointed due to the difference in the technique as it applies to forex. Make no mistake; candlestick charting forex is different than any other market. Mostly because the forex market is open twenty-four hours a day and traditional candlestick patterns don't form as they do in a market that has a daily open and close. But that doesn't mean that candlesticks won't work with forex!

Candlesticks as they apply to forex are indeed different, especially in the daily chart. The patterns form differently but the meanings are the same. Candlestick reversal patterns are universal in their meaning and the payoff can be great! Especially in forex! Once the trader understands the psychological implications that candlestick patterns can convey, forex trading becomes much more simple.


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Forex Trading Strategies - Divining the Mysteries of Candlestick Charts and Patterns

By Andrew G. Bond

If you're using technical analysis as one of your forex trading strategies you probably use candlestick charts. Candlestick charts are one of the three options (along with bar and line charts) and are the most popular with modern traders as they give the most vivid picture of what's happening in the market. But are you using them to their full advantage?

By studying candlestick charts you can get an immediate picture of the opening, closing, low and high prices for the period he has chosen. But that's not all the candles can reveal.

A skilled candlestick reader can gain much insight into the sentiment, strength and momentum of the market just by studying the shapes and patterns of the candles. Some successful traders spurn all indicators and just focus on what the candlesticks reveal about price action.

Candlestick charting dates back centuries to 18th century Osaka when legendary rice trader Homma Munehisa used them to corner the market. Japan's long isolation meant that candlestick techniques remained hidden from the rest of the world.

But then trader Steve Nison researched the candlestick charting method in the 1990s via old Japanese documents. Nison was quick to appreciate the Zen-like beauty of the candlestick trading method and went on to champion the system in a series of popular books.

Nison's books are extremely comprehensive detailing a host of candlestick formations including dark-cloud over, hanging man, morning and evening stars, and the celebrated doji, with its various incarnations such as dragonfly doji and gravestone doji.

You might be overwhelmed by reading through such books but actually you just need a small group of candlestick patterns to use with confidence and clarity on a daily basis. You just need to know which patterns to focus on and how to properly interpret what they tell you.

Candles never lie but divining their message is not always straightforward. You need to devote some time to understanding just what they're telling you. Make candlestick reading one of your forex trading strategies and get ready for currency trading success.


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Forex Trading Secrets to Help the Average Forex Trader Actually Make Some Money

By John Jakobson

You always see these professional forex traders on TV, websites, or writing their own books, and you might think, "Wouldn't it be great to have all of the insider secrets like they have? If I only knew the forex trading secrets they know, then I could make the money they make."

There is no denying that rubbing elbows with and getting the scoop from people in the know would be great, but don't be duped into thinking that you cannot make money in the forex without this special knowledge.

So many beginning traders look at the foreign exchange as some mysterious market that could never be profitable. In fact, some people believe that the foreign exchange is nothing but a scam. This just isn't the case!

Anyone can make money in the forex, even everyday people like me and you. All you have to do is follow some basic principles or "secrets". Let's look at one of the main forex trading secrets that every profitable forex trader uses to make money.

Look at the big picture before trading. What do I mean by this?

Well, there are basically two trading styles - fundamental trading and technical trading. Fundamental trading focuses on why the market is doing what it is doing.

Are interest rates going up or down? Is a particular country's economy doing better or worse than others? Is a country's trade balance going too far in one direction? Fundamental traders use this information to predict where the country's currency will go next - after all, a country's currency is a direct reflection of a country's economy.

Another type of trading is technical trading. Technical traders don't really care about the fundamental reasons moving the markets. They merely look for patterns in the price itself and use those patterns to predict the currency's next move. Technical traders generally trade on a much smaller timeframe (minutes, hours, or days) than fundamental traders (weeks, months, or years).

You will be a consistently profitable trader when you meld these two types of trading together to see the big picture. You need to generally know the pulse of the world economy and its major countries. After all, every time you enter a forex trade, you are betting that one country's currency will do better than another country's. The only way to be confident in your trade is to know at least the basics of the world economy.

Once you understand economic basics, then you can use technical trading to identify the best time to enter the trade.

Don't rely only on fundamental trading. You might be correct in your assumption as to where the currency is going next, but you won't have any idea when it will move. And don't rely only on technical trading or you may be trading against the overall trend of the currency. Either way - you lose.

Don't risk it. Meld the two trading types together, see the big picture, and make tons of money in the foreign exchange. By following these simple forex trading secrets you will have more "winning" trades than losers. Success doesn't need to be complicated.


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Forex Courses - The Truth About Them

By Ephraim Archibong
Expert Author Ephraim Archibong

A "Forex Course" is a knowledge based course with the sole aim of educating and informing a would be Forex trader or newbie of how the Forex market works with a purpose to fully educate a new trader to become proficient in making good trading decisions. Thing is most of our Forex courses have fallen short of these expectations and continue to push new traders along the path of confusion in some cases.

Have you ever wondered how it is possible that even after you have spent your hard earned money on an expensive Forex course that is (pending on whether you even went to the right place for your course) you still end up being unable to make consistent profits from the market despite all of your "text book knowledge" of what the market is supposed to do. So you go on to search for courses that would lead or steer you in the right direction, hence you end up spending more money on courses after courses. Only to find that the previous place you got your first Forex course did not offer all that they know about the Forex market but the basics and that you were meant to pay extra for an additional course that is for an advance level course that would "probably" give you the edge or full inside knowledge you so require. Off course, only to find again that there is still yet a more advance level course that you still require to gain the knowledge you so desire.

Hence leading you on a barrage of Forex courses that only end up confusing you the more and leaving you at the mercy of the market.Truth is we have all been there, maybe not all of us but those who never had a friend, or an uncle, or a brother, or anyone for that matter who is close to him/her and already familiar with the Forex market to help shed more light into the mysterious patterns of the market. So you are left on your own to find the truth and maybe, who knows "The Holy Grail"! Which brings to mind another truth you must know, as much as this may disappoint you all (there is no "Holy Grail") to cracking the Forex market. The sooner you accept this truth the better chance you have at succeeding in this game. As pathetic as this may seem, the instructors who offer these courses do not concern themselves with your pain but rather are more concerned about how much they will make when you pay for your course. Leaving the newbie trader(new trader) in the dark and alone so that they keep coming to the same instructor to learn a supposedly new and advanced system of trading. That would seem to be like the only way these instructors are assured of a consistent stream of income. They fail to learn that once you teach truthfully and honestly that there is a certain measure of good karma that comes with such noble acts. Without mentioning names so as not to discredit anyone,-as this is not meant to tarnish anyone's name or business- many of our big names in the Forex industries are guilty of this act and they need to put the perspective of the would be trader into consideration to be able to really help all newbie traders.

A WAY OUT OF THE DARK

In order not digress from our main discussion it would be clear that most of what we learn from these courses whether beginner stages or the complete guide would always remain what they are, "Text Book Versions". Indeed they are the very guide for knowledge everyone needs to be able to get a grasp of what the market is all about and therefore serves as a pivotal necessity which every trader cannot do without; but left on its' own it continues to remain what it is, a "Text Book Version".

What every newbie trader needs is consistency and a strong will to applying all of the knowledge gained from all courses put together. This would enable a newbie or new trader have adequate experience with the market and become more familiar with the movements of the market. In a nut shell "EXPERIENCE" would become the best teacher a student would ever have as it would open ones' eyes to the actual behaviour of every partaker of the market. That is why every newbie trader should never be in a hurry to throw in hard earned money into the market without effectively practicing and honing ones' skills. You should be ready and willing to take your time to practice what you have learned and understand certain patterns to further develop your own strategy to succeed in this ever growing market. It would be a shame that after just a couple of weeks of taking a Forex course you find a student or newbie jumping into the market head first and eventually finding that the market was by far hotter than what was envisaged.

DO YOUR HOMEWORK

My advice would be for you to do your home work, before you take a Forex course. Do well to ask your instructor how much it would cost and how long it should take before you are certified as good enough to enter the market with real money. There are a good number of excellent instructors out there, you only need to do your home work properly. According to my knowledge and experience a good instructor would spend close to two or three months preparing a newbie for the market and even at that the student may not be fully ready until a large measure of practice and consistent results has been achieved. The provision of demo accounts by almost all Forex brokers in the market today is a big helping hand to all traders who intend to hone their skills before risking hard-earned money. So the next time you hear or see a jingle offering Forex courses, make sure to find out if the said organisation or company as the case may be is a credible one; in other words is fully registered and well known by Forex traders community. You may ask past students of such organisations or simply go online, insert the name or the company or organisation to find out if they are what they claim to be.

If they are not online, then knowing your instructor or instructors one on one would help tell you whether or not you are on the right track. With that said I sincerely hope that your eyes have been opened and I would also hope that you feel much better knowing that you are not alone. Wish you a successful trading experience.


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Price Pattern Based Forex Trading System

By Harry D.

Forex market has seen it's share of mechanical trading systems being touted on the Internet. These range from systems developed through the use of immense computing power to the ones using the mysterious techniques of WD Gann himself and the list goes on and on.

Most traditional systems use one or more of the technical indicators like MACD, RSI, CCI etc. to generate buy/sell signals. The problem however is that all these indicators are derived from the raw price but don't do such a good job predicting the future. Just because a particular RSI or MACD value cross has led to good buy signals in the past is no guarantee that it will work in the future. Using the optimization features of most popular trading platforms it is relatively easy to let the computer find you a "good" system.

The systems that hold their own in good times and bad are based upon simple yet robust market dynamics. Price patterns are one such example of a robust market concept that has worked in the past, works today and will most likely work in the future. The fractal nature of price patterns increases their effectiveness in projecting future price moves.

If you want to become a successful trader you will need the following
A methodology with a quantifiable edge
A clear understanding of when the edge does NOT reveal itself
A money management strategy to maximize the edge
The Discipline to act decisively


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Forex Trading Insights, Breakthroughs and AHAS!

By Scott Shubert
Expert Author Scott Shubert

Since most of the trading world is clearly barking up the wrong tree and chasing their tails getting nowhere, it is evident that in order to consistently win we need to see the market in a different way from the rest of the herd. I remember the first Forex training course that I took charged me $1000 for the beginner's section and another $1000 for the advanced section. In the beginner's course I was taught to open up a one minute chart and divide it up into three sections and if the price was in the bottom section I should buy and if it was in the top section I should sell. It didn't take me long to ask the question, "If the market is trending won't it breakthrough all these lines and keep on going for days? I guess the instructors were not prepared for this question since this method was based on the totally false assumption that the market always channels on a 1 minute time frame. I often illustrate how this method is much like buying a car and then painting over all the windows and windshield. Then cutting a hole in the floorboard and attempting to drive by looking through that hole. The fact is you just can't see where you are going by looking through that hole.

Later I learned other methods including using pivot points with trend lines, MACD and candlestick patterns. It didn't take me long to figure out that if the price approached a pivot point one of two things could happen. It could hesitate or stop or it could keep on going. And soon I realized that looking at these lines was completely irrelevant to the natural forces that could reveal what the market was really doing. Basing a trading decision on a daily pivot soon became a useless concept to me.

I also noticed that all the managed Forex funds and automated Forex trading systems published results that were quite unimpressive. Sometimes they would win, then there were large draw downs and losses and it seemed as if even professionals were pretty much guessing and were totally at the mercy of the market's unpredictability. Meanwhile I could see that there were clear signals and patterns in the markets that seemed to indicate that there is a way to easily get profits consistently. But others were somehow not seeing this. For instance one of the first things I realized is that most trading methods work well in a trending market and then they produce losses during a choppy, corrective or sideways market. So I immediately came to a revolutionary conclusion that no one else seemed to be noticing. Why not only trade in trending markets and avoid trading in choppy markets? What would that do to the results over the long term? Uhhh... It doesn't take an Einstein or a rocket scientist to come to this conclusion does it?

In my quest for more Forex trading knowledge I went on to immerse myself in Elliott Wave Theory and Fibonacci. I delved into some of the mysteries of Gann. I saw many people doing many different things and I saw very few people consistently winning. In fact many seasoned professional traders seemed quite negative and pessimistic about the whole trading business. Meanwhile I was harvesting large profits consistently using a fairly simple method and wondering why people thought this is so difficult and why success seemed to elude most people.

Eventually a few acquaintances kept asking me about what I was doing which ultimately led to my authoring a training program that covers all of the insights, breakthroughs and "AHA"S that I have had over several years. The important message is that anyone can consistently get outstanding results in Forex trading with a little motivation and the right approach. Having experienced the challenge and the frustration of trying to learn to master the art of trading in a world where finding what works can be a lifetime pursuit, I now derive a lot of satisfaction in seeing others who have been through the struggle to learn Forex trading suddenly having amazing breakthroughs as they develop a lifetime skill that will continue to create financial freedom for themselves and their families.

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Japanese Candlestick Charting - Mysteries Solved - Truth Revealed

By William Kurtz
Expert Author William Kurtz

Cancel "Mystery Night at the Bijou." There is nothing mysterious about the Candlesticks, or about Japanese Candlestick Charting. Actually, they are almost self-defining, because Candlestick patterns are pictures, and the eye is designed to recognize pictures.

Candlestick charting begins with the old familiar bar chart, the format which has been in use for hundreds of years. Nearly everyone who invests or trades understands the bar chart, which reports prices in the form of a vertical line the top and bottom of which represents the high and the low price of the day and in which the opening price is shown by a little tab on the left side of the line and the closing price by a little tab on the right side. Japanese Candlestick Charting price presentation builds on that by "fattening-out" that part of the vertical line which represents the price area between the open and the close. The result appears to be a cylinder within a portion of the total price bar. If the closing price (or the current price, if the market is then trading) is higher than the opening price, then the cylinder is left blank, or white; if the closing (or current) price is lower than the opening price, then the cylinder is filled in black.

There is nothing at all in Japanese Candlestick Charting which conflicts with the old bar chart or with anything else that you may have learned along the way. On the contrary: it builds upon all of that knowledge.

One of the most important attributes of the Candlesticks is that they reveal the underlying psychology of the traders as a group. The computer operator can see in an instant what the traders were thinking and worrying about on that particular day, or what they are thinking about at this very moment if price action is being shown in real time. Price display is truly a "movie" when it is shown in real time.

Japanese Candlestick Charting is most useful in scouting out reversals of trend within candlestick chart patterns, whether as reversals are happening or are soon to emerge. Candlestick analysis works equally well on all financial vehicles across all time frames- whether the Indexes, or individual stocks, or the commodities, or Forex. The basic principles are the same throughout. It can be immensely gratifying to spot an incipient reversal even before it takes final shape and then to see it come to fruition and produce the result that it foretold.

You may have heard that you must memorize a hundred or more Japanese Candlestick patterns. That is simply not so. There are only 15 or so that appear the most frequently and have the best record of accuracy in their inherent predictions. Included among the Magic 15 are the Dark Cloud Cover, the Doji, the Shooting Star, the Evening Star, the Morning Star, the Hammer, the Bullish Engulfing and the Bearish Engulfing, and the Piercing pattern. My own favorite is the Shooting Star, because it looks so like the phenomenon for which it is named. You will learn these very quickly; it's very intuitive, helped along of course because the patterns and their names fit so well together. You will find that you can learn them in an evening's reading; and once learned, the knowledge and the ability to spot them on sight will never leave you

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Forex Trading Signals - How Useful Are the Multiple Signals?

By John M. McAdams
Expert Author John M. McAdams

While people always focus on the effectiveness of Forex robots, fewer people seem to be interested in looking for Forex signals with a nice quality. More often they do not know what to look for and why they are so important. Very often the Forex signals become the extra value-added materials that needs either extra payment or extra attentions from the customers.

Forex trading signals are still very useful because they make manual trades feasible, at the same time to make automated trading more identifiable. Some currency trading robots like IvyBot and FAP Turbo, they do not have the same Artificial intelligent program like that of the MegaDroid, while the latter claims that it can adapt to the always changing currency market conditions. In many situations, the robot would present you basic information, but some extra features may take you more cost.

Forex trading signals are not just for the knowledge of the investment professionals. By making good use of trading signals, new traders can compare their currency choices and investment strategies with signals given by other professionals. This can be a good comparison and time of learning. Now readers please be reminded that, the mystery of whatever year of supercycle currency window may not be all that revealing, but the historical record of the implications of trading signals do have accumulate effect on interpretation of the current market trend. That is why even though subscribing numerous Forex signals can cost the trader a little bit of money, the advantages can be many and long-lasting, mainly for referencing and explaining chaotic moments.

Multiple signals do always occur in these software. When several technical indicators operate at nearly the same time, or when the chart patterns started to trigger simultaneously, the multiple signals reach basic agreements. If these trading signals are generally in agreement with one another, traders need to pay special attention and start to make prompt market decisions right away, besides having things explained by the robot as the baseline is met. Professional investors usually believe that such a setup is more important and reliable than any mechanism that just involves only one signal.

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How To Find the Best Forex Trading System for Beginners

By Jackson Golde

Only the very advanced, (or very backwards) Forex trader works without real-time software that "reads" the market, offers buy and sell alerts and monitors currency values for profitable opportunities. Today, we have the best tools in history to assist traders of all levels. The data available to the average investor now was unimaginable only 10 years ago.

Artificial intelligence systems that predict winning market patterns now influence millions of dollars in trade, every day. They are a reality. These advanced tools are not reserved for banks and massive trading houses, they're available to consumer investors as well. With access to this kind of analysis and software, it's never been easier for a beginner to start and profit as a Forex trader.

You need a budget

You can test a number of Forex trading systems for free, using demo or trial software to learn about the market. But, the truth is, the best services cost money and you need a budget to get started. A new trader needs to be careful where they place that first few hundred dollars. So how do you choose your system, program or Forex software?

Some systems win, and some lose.

Surprisingly, there isn't a lot of mystery in the Forex system world. The best Forex trading systems are known and are talked about by national media. When it comes to Forex programs, successful ones have an easy time making friends. How do you tell the duds from the winners? Get rich quick schemes are easy to rule out because no actual person will talk about them "on the record." Find winners by looking for newspaper articles, media coverage and business blog reviews. Credible Forex trading systems get attention and "insiders" will gladly talk and write about them.

Who is the new darling?

Heavy hitters like the Wall Street Journal and Business Week have been talking about expert-led services like Forex Ambush 2.0, a rising-star Forex trading system that uses advanced artificial intelligence, mobile phone alerts and emails to offer daily, profitable trade picks. For new traders with a budget to get started, Forex Ambush 2.0 is a strong option. To date, they claim a 99.9% success rate with their alerts and recommendations.

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Forex Trading - To Win You Must Understand This Simple Equation!

By Kelly Price

If you are new to Forex trading if you don't understand the simple equation we will outline in this article you will join the 95% of traders who lose. The equation is simple but its implications for your currency trading success are huge.

Here is the equation and below are some points you need to take into account when implementing your forex trading strategy.

The equation is

Fundamentals ( immediately discounted) + Investor Perception ( logic greed and fear) = Price Movement

Simple?

Yes - but these are the critical points you need to understand in relation to the above:

1. Trading News Will Not Help You

We live in a world of instant communications and the fundamentals are immediately discounted by the market so you cannot trade them for profit.

2. Prices Do Not Move Logically

If they did we would all make money prices move away from the fundamentals and the price direction can be the exact opposite of what logic tells you. Why?

Because traders all have the same facts to look at but draw their own conclusions about what they mean and when greed and fear come into play prices move in mysterious ways.

3. Markets Do Not Move Scientifically

Ever read about being able to predict markets in advance? You cant! You cannot predict what a broad mass of emotion will do to the markets in advance - trading is a game of odds not science.

If markets were scientific, we would all know the price in advance and there would be no market!

The above points are true, yet most traders simply do not take them into account when developing a forex trading strategy - but unless you understand the above you will never win.

So How Do You Win?

The best way is to let the market tell you which way prices are going - this means simply following price action and using forex charts.

Forex charts take into account the fundamentals (they simply assume they are discounted instantly) but they do something more:

They give you the big picture i.e how the investors perceive them.

While human nature cannot be reduced to science, human nature is constant and price spikes away from the long term fundamentals NEVER last long and these are easy to spot and trade for profit.

Forex technical analysis simply postulates that you should act on the reality of price and the price is right - no matter what you or I think.

By trading the price as it is, you are trading the truth without imposing your opinion.

Most traders try and impose their opinions or try and predict in advance where prices may go - but this is doomed to failure and that's why 95% of forex traders lose.

TRADE THE ODDS!

There are no certainties when you trade only probabilities and it is these you need to look at and trade when the odds are in your favour - you won't win every trade just as a successful poker or blackjack player doesn't win every hand - but by trading the odds, you will win more than you lose over time enjoy currency trading success.

Today, many traders buy rubbish courses and e-books that tell them they can win consistently, because markets move to a set pattern, so they can predict in advance what will happen - they don't work.

If you want to win, you need to forget the idea that trading is easy, its not - that's why the rewards are so high.

However, forex trading can be learned by anyone with the desire to get the right forex education and learn to trade the odds.

Currency trading success involves looking at price and calculating the odds of success and you can do this via forex charts - over time if you can spot and trade the high odds set ups and make a lot of money - it really is that simple.

FREE! TRADER PDF'S HOW AND WHY THE MARKETS REALLY MOVE AND HOW TO MAKE PROFITS !

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