Current forex books
And many other things Forex traders should know about. Forex Trend Line book covers rules, purposes and advantages of using current forex books lines in Forex charts.
Trend line is our guide that helps to identify main price direction during a certain period of time. If placed correctly it will provide answers to: Where to enter the market? What direction to enter: up or down? When to exit or be prepared to exit? To start our learning journey, at first let’s take a look at the bigger picture of the market using Forex charts.
To obtain this bigger market picture, traders would need to simply zoom out their charts a little bit or switch to a larger time frame. Once done it should become obvious where the market is going: it is either heading up or down. Find big enough picture to visualize current market move. Draw a trend line through A and C points. The more A, C and following additional points the line will touch — the more accurately it will work. Forex trading is a high risk investment.
All materials are published for educational purposes only. How To Double The Account In 1 Day? You can help thousands improve their trading! Who’s online There are currently 18 users online. Submitted by Edward Revy on February 28, 2007 – 13:07. Trading systems based on fast moving averages are quite easy to follow.
Let’s take a look at this simple system. Time frame chart: 1 hour or 15 minute chart. Indicators: 10 EMA, 25 EMA, 50 EMA. SELL in the direction of 10 EMA once it clearly makes it through 50 EMA. Just wait for the current price bar to close on the opposite site of 50 EMA. Exit rules: option1: exit when 10 EMA crosses 25 EMA again.
Advantages: it is easy to use, and it gives very good results when the market is trending, during big price break-outs and big price moves. Disadvantages: Fast moving average indicator is a follow-up indicator or it is also called a lagging indicator, which means it does not predict future market directions, but rather reflects current situation on the market. Submitted by Edward Revy on November 30, 2009 – 13:48. Comments for this strategy are now closed.
To continue discussion, please use our Forex Forum, where you can create a new discussion topic. Submitted by Edward Revy on November 30, 2009 – 02:08. You can add Bill Williams fractals indicator to help you with tops and bottoms. We should not move our initial stop loss till we see the “checkpoint” level being surpassed by the price. Once the checkpoint is passed, move SL to the latest fractal. Submitted by Buddy on November 17, 2009 – 21:41.