Over the long period of years, many professional traders have contributed their efforts in trying to research and develop several profitable trading strategies.
Their method perfectly works for them but there is no guarantee that it will also work for you. Searching the internet will provide you with various types of trading systems.
Most of them are based on a technical analysis where it involves the use of indicator tools. The accuracy of these trading systems varies between 30 to 70 percent.
Understanding the behavior of the forex market through the chart can minimize the risk of losing a trade.
Understanding the behavior of the forex market through the chart can minimize the risk of losing a trade.
By using charts along with the Candle Stick Pattern and technical indicators, there is a higher accuracy of predicting the trend direction of the market.
You have to know that there is no strategy that will always successfully work on every time that it shows a positive signal.
You have to know that there is no strategy that will always successfully work on every time that it shows a positive signal.
If such trading system exists then that’s probably the Holy Grail that everybody is trying to look for.
There are two types of technical tools which are the Lagging and Leading indicators.
There are two types of technical tools which are the Lagging and Leading indicators.
Most tools that are available on most trading platforms are the lagging indicators where it simply shows the previous data of the price action in another form.
The leading indicators can provide you a future prediction of the market’s trend direction and a good example of this type of tools is the Candle Stick Pattern.
They say that trading the forex market involves 20 percent technical and the rest 80 percent are purely psychological.
They say that trading the forex market involves 20 percent technical and the rest 80 percent are purely psychological.
Your emotions do play the most important part when trading because it can affect your decision to be changed.
The only method to overcome the psychological side of trading is to understand how the market behaves and to have a good Money Management skill.
It’s too sad to say that this part can never be taught but only gained through hard work and experience.
The aim of this “Forex Trading Training Strategy” blog is to provide basic tutorial guide and to share you some of my trading experiences and knowledge in the hope that it can lead you into your own success.
Moreover, the best part to start your lesson is to learn about Candle Sticks.
The aim of this “Forex Trading Training Strategy” blog is to provide basic tutorial guide and to share you some of my trading experiences and knowledge in the hope that it can lead you into your own success.
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| Candlestick Chart |
Moreover, the best part to start your lesson is to learn about Candle Sticks.
Many traders prefer to use this Candle Stick chart over the conventional bars because they are easier to read and provide more information on the future direction of the market trend.
Combining the Candle Stick chart pattern with the western analysis will add higher probability on predicting the future price movement.
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