Technical Analysis An Introduction to Chart Reading

The markets represent the struggle between two opposing force – the bulls, who want to push the price higher, and the bears, who wish to push it lower. As each side tries to overpower the other, they leave footprints behind. The advantage with technical analysis is that patterns often repeat themselves. Therefore, this can be very useful in predicting future price movements in the forex market.

Technical analysis is the art and science of reading a price chart to determine who is stronger, and who may win the struggle in the future.

Chart Types

There are three types of charts commonly used for the technical analysis of the forex market: (Inserted from website)

How to Trade Forex

In the dynamic world of forex trading, there is always something new to learn. Whether you are a beginner, intermediate or experienced trader – expanding your forex knowledge and keeping up to date with current global forex events is essential to successful trading. bforex understands the importance of enhancing your fx knowledge and offers you access to multiple tools. These consist of a number of diverse forex lessons that will give you the confidence you need to confidently trade in the forex market.

Forex Academy: Learn Forex

At bforex, we know that is knowledge is power. We understand the importance of educating our traders about trading forex on the forex market. Our goal is to enable traders to trade forex with confidence, while at the same time understanding the key characteristics of the forex market. This includes both potential risks and gains.

The Best Forex Trading Platforms

Broco Trader

What

Perfect trading terminal is the half of your success. Broco Trader was constructed on the basis of the most popular Meta Trader 4 terminal.

Due to the universal Broco Trader platform you obtain unrestrained freedom of action because the terminal includes an extensive array of trading opportunities — any financial markets, over 500 of diverse financial tools — from Forex to indexes and futures CFDs and stocks.

Sign up and get forex demo account Metatrader and become a global forex trader (forex currency trader). Our demo forex trading platform (based on forex metatrader 4) can improve your skills and make you one of the best forex traders.

The Best Forex Trading Platforms

Selecting the best forex broker is of equal importance as your skill in trading the market. It’s possible that you might select a broker that does not provide you with the right tools or for whom you never receive your hard earned money from upon withdrawal of your funds. There are many good forex brokers out there so there is no excuse for selecting a bad one. Consider the following aspects and perhaps create a checklist of things you must see in a broker before you even try to open an account with them.

The Best Online Brokers

The Best Online Brokers: Revealed!
A Daily Reckoning Special Report
By Greg Guenthner Penny Sleuth

Dear Penny Sleuth Reader,

Six months ago, Susan and John (neighbors who invest together) bought a $1 penny stock. They each spent $500. And their orders were filled at the exact same price.

After trading even for months, the company came out with a strong quarterly earnings announcement a few days ago. Afterward, the penny stock rose to $2 in a hurry – doubling John and Susan’s money. As you might expect, the two decided to sell their penny shares. They immediately called their brokers and exited the trade – at the exact same price.

At the end of the day, John and Susan met at Starbucks to revel in their success. They pulled up their account summaries as they sipped on a skim latte. And to John’s surprise, Susan had more money in her account!

Forex trading without any investment

Almost every novice trader, sooner or later comes to think that making the market is not so simple. After earning professionals only, that is, those who have a profitable trading system and sells strictly by the rules. But what about beginners? After all, profitable strategy yet, and it is not clear how to create it. All attempts to capitalize on intuition, as well as with the predictions of analysts known or trading other people's signals - quickly fail and do not bring any profit. And if so, what's the point in the trade market?

Fundamental analysis of Forex market

Fundamental analysis - this analysis, the direction of price movement which is determined by political and economic factors.
To carry out and learn fundamental analysis as a basis to take current political and economic developments of individual countries as the world community as a whole.
Fundamental analysis is used primarily traders, investors who work with long-term deposits.
Fundamental analysis is one of the most complex types of analysis, because the same political and economic factors do not always have the same impact on stock market trading.
The key factors in fundamental analysis in forex are: political, economic, expectations and rumors, force majeure situation.
For example impact of political events on currency market Forex is possible to take a scandal that occurred in 1998 with the participation of U.S. President Bill Clinton and Monica Lewinsky. After this situation, "published in Society" by means of mass media, that fall in the dollar against most currencies have dropped significantly.
In order to conduct fundamental analysis to monitor political and economic news, listen to the opinions and statements of influential people in politics and economics.It is also necessary to consider any kind of force majeure situation, such as catastrophes, natural disasters, etc.
In order for the trader to be more confident in pinpointing the moment when you need to properly buy or sell on the stock exchange forex, we recommend using technical analysis.

How to become a successful currency trader

Before you open your first account, some doubt for a long time - but not if they lose all the money? Other open the account quickly and for those swell and swell it.Become a foreign exchange trader today is incredibly easy. You only need to open an account online and transfer money. Just from your sofa. But only after the lapse of time, we wonder - how to become a successful trader?
First question - is the broker. Argued that the broker has no interest in a successful trader. Maybe so, but trading for five years with the well-known broker, I did not notice. Not to say that I am a very successful trader, but I do not lose money. And sometimes increase them. Maybe my experience will be useful to you.
And so. Determined with a broker, find out whether he has trained. We strongly recommend to pass a training course. "Self" will cost much more. During training, you will open a demo account. All theoretical calculations oprobuete on it. Of course training course will not make you successful. But it will give you the basics of craft.The foundation on which you will grow.
The second stage of formation is the development of their trading views. Their individual shopping preferences. And on which you build your trading strategy. It will take time. Take your time. For the establishment of your strategy will take time. In training and searches. All it is desirable to conduct a training run. Trading regularly, study the statistics of your transactions. One more thing. The size of the school accounts must match your original real investment. And the first money to be small.Let it be 100 or 200 dollars.
In the process of testing your demo account, learn the specialized literature. Best-known essays traders. In them you will gather invaluable experience of people who have already achieved positive results in the market. And here comes the moment of opening the first trading account.
Open it easily. Make the amount that is not afraid to lose. By now you you have a specific trading approach. You ask me the difference between trading with real money from virtual? Psychology! It is a science that you need to know with real money. And not only learn, but often quite fundamentally change themselves. But if you decide to be successful - go for it. Do not hurry. And if you're ready for this - the success of your visit.