We all know that if we want to get good at something, you can't beat experience. Just like an elite athlete, you can have the best coach and training in the world, but it's on the playing pitch where you learn the most. The trader is forged in the fire of battle, and that is where you need to be if you want to gain mastery.
Risk management is a phrase traders love to hate. It's the first thing new Forex traders are taught, and it's the first thing they ignore. No matter how much the pros emphasise risk management, the new trader is too easily distracted by the lure of their charts. There's no stopping the train.
Using a forex signals provider can be exciting for some. For others, having used a forex signals service already and having met with some disappointments, one can get skeptical about using such a service already. This brings the question whether one should use a forex signals service. It also prompts the question whether a forex signals provider can generate profits or equity growth for you.
Using oscillators is very prominent in the world of trading, whether you are just beginning or have been trading professionally for years. Oscillators are based on math formulas and are categorized as inductive statistics. In forex, they make up a vital part of technical analysis since they are used to confirm market trends, signal when a trade is being overbought or oversold under extreme conditions, and also inform the trader when the market's movement is about to reverse due to loss of momentum.
Support and resistance levels or supply and demand levels are the backbones of technical trading. Regardless of the type of technical analysis methods used, be it an indicator based trading system or a price action based trading system, support and resistance levels plays a crucial role.
Have you ever found that your trading system works great one day but fails miserably the next? Your problem is quite possibly market type identification. Too many Forex traders will trade the same way no matter what the market is doing. Instead look to identify the market type first, and then devise a strategy appropriate to that market type.
Technical indicators are often used by traders for a number of reasons, but primarily to detect the changes in the markets. Technical indicators are relied upon for signs of any change in direction, or the momentum in the price of the underlying security as well as volatility in the markets.
ActionForex.com was set up back in 2004 with the aim to provide insight analysis to forex traders, serving the trading community over a decade. Empowering the individual traders was, is, and will always be our motto going forward.