| You have traded in the Forex exchange market for | | | | them difficult to predict. Not all pairs would create |
| quite a while now. You have read hundreds of Forex | | | | head and shoulders, double top or bottom to signal |
| guides and ebooks or Forex trading advice widely | | | | the potential major movement. Some of them will |
| available on the internet. Those gave you basic | | | | but that may mean nothing. Another combination |
| knowledge about forex. Now you know the | | | | would not necessarily bounce back from 55 or 200 |
| terminology, rules, currency movement trends and | | | | hours moving average or follow pivot points. Others |
| the other factors influencing the Forex market. | | | | will not create hammers to indicate diversion. All |
| There is a lot to take at once. But let me tell you | | | | above rules would apply to successful technical |
| something here, Forex is something people continue | | | | analysis trading. |
| to learn throughout their lives and still there is | | | | We strongly advise you to do your homework and |
| something left. You have probably wondered many | | | | research. Before you select certain rules for certain |
| times before which tactic to take. Will I rely on | | | | pairs make sure that there is a pattern to follow. |
| technical analysis? Should I look at the bigger picture | | | | Adjust moving averages, play with a few values and |
| and consider all economic conditions? Will I trade | | | | backtrack to see where there is a rule that you |
| news for quick profits or maybe invest long term. I | | | | could use in a future forex trade. |
| believe you went through many demo trading | | | | There are many examples to learn from. If you |
| accounts to try them out. | | | | study eurjpy and euraud pairs you will see how |
| If you picked up your strategy and you decided to | | | | different they are. Euraud seems to have a strong |
| go and trade technical chart analysis here is so much | | | | trend on daily charts where eurjpy has not got one. |
| else left to consider. At this stage your knowledge | | | | Take also eurusd and we will see that there was |
| should include terminology such as: support, resistance | | | | strong head and shoulder with the bottom formed on |
| and chart names. You should know about moving | | | | 22 Jan 2008 and instead moving significantly up it did |
| averages, Bollinger band, Fibonacci or Elliot wave | | | | not. Compare the daily chart of eurchf which on the |
| theory and Pivot points. Now all you have to do is | | | | other hand follows nicely its double top and bottom |
| apply all the above rules to your chart and happy | | | | pattern. We encourage all beginner traders to |
| pips. Well it is not as easy as it seems to be! There is | | | | consider those factors before trading real money. |
| one piece of advice that we would like to give you. | | | | Select your indicators to your pairs in the way they |
| Not all the rules apply to all the currencies. That is | | | | are most suitable for each one of them. Make sure it |
| right. If you have had enough experience and spent | | | | is backtracked and there is evidence for such a |
| thousands of hours watching charts moving you have | | | | selection. Remember: plan your trade and trade your |
| probably noticed that almost every single combination | | | | plan. |
| of currencies have their own flings and this makes | | | | |