Japanese candlesticks, including forex candlestick patterns, are a form of charting analysis used by traders to identify potential trading opportunities based on historical price data. Forex candlestick patterns, are fairly visual compared to other forms of technical analysis and offer information on open, high, low and close prices for the financial instrument you wish to trade. Japanese candlesticks are especially useful in offering insight into the short-term price movements of the markets – a valuable tool for day trading...
Forex trading is essentially the buying of one currency and the simultaneous selling of another. Therefore when trading currencies we will always see them quoted in pairs. Forex markets usually classify currencies in three groups: major, minor and exotic currencies. Exotic currency is the term given to thinly traded currencies which are low liquid, lack popularity in terms of consistent market activity, and trade with high markup fees at select markets or dealers. Exotic currencies don’t necessarily mean weak or undervalued...
Thankfully the (foreign exchange) forex market is the most accessible financial market, only requiring a small amount of capital to open an account. Unlike the stock market, there is no legal minimum you need to start trading forex. Research shows that the amount of capital in your trading account can affect your profitability. How much money you will need to trade forex is one of the first issues you have to address if you want to become a forex trader. Which broker you choose, trading platform or strategy you employ...
One of the most crucial skills in forex trading is the process of finding support and resistance levels. This is so because knowing the basics of support and resistance would improve upon any trading method. Support and resistance are specific levels or zones on the trading chart, where the price of a forex pair is likely to find opposition. The reason for this is that these are psychological levels showing the different attitudes of the market players. The reason that support and resistance work and that the price will keep on...
Trading foreign exchange on the currency market, also called trading forex, can be a thrilling hobby and a great source of income. To put it into perspective, the securities market trades about $22.4 billion per day and the forex market trades about $5 trillion per day. If you have looked into trading forex online and you have seen all the opportunity to make money, you are probably wondering what is the right way to start forex trading. Because the forex market is highly leveraged, it can have the same appeal as buying a lottery...
