| Many traders believe live Forex charts are the life | | | | completely different action on the exact same |
| blood of their trading systems. If fact, some will tell | | | | charting pattern. I caught this about 6 times in this |
| you that if you can master charting techniques, you | | | | course. |
| will be able to predict the future price of a currency | | | | The point is, having trading tools that require the |
| pair. Is this really true? | | | | interpretation of the individual trader should be |
| I agree that live Forex charts can be beneficial to | | | | avoided. I mean run away from this approach and |
| your trades. However, you need more than this to | | | | fast. This is not how you become a proficient trader. |
| become a profitable trader. | | | | I think there are a few people that can use charting |
| I don't agree with the idea that you can use charts | | | | and some other indicators to make profits. For most |
| to predict the outcome of price action. I think | | | | people, this is not the way to go. I think people who |
| charting information is a part of many factors that | | | | want to have a black and white way to make |
| will help you make an educated guess on where price | | | | money with Forex or any type of trading should not |
| is going. | | | | rely on charting patterns. |
| You can find lots of information about charting | | | | Charts definitely have their place. I like to use charts |
| patterns. You may have heard of a few. Some | | | | to determine the trends of the main currency pairs. |
| common ones are double bottoms, triple bottoms, | | | | This is simple yet probably the most important |
| head and shoulders, and triangles. Finding these | | | | information you can get off a chart. |
| formations is very subjective. In my opinion, they are | | | | If you are doing short term trading, the best way to |
| not reliable enough to make trade decisions. | | | | trade is to buy and sell with the trend. Never trade |
| Over the years, I've taken many Forex courses. One | | | | against it. |
| of the course was from a well know technical trader. | | | | I use the weekly chart to see if a currency pair is |
| The course took me a few weeks to go through. It | | | | trending up or down. Then, I look to see which pair is |
| had a couple of manuals and a lot of videos. It was | | | | trending in the same direction on its hourly chart. I will |
| funny to see the course creator suggest actions on | | | | only trade a currency pair if these two trends match |
| a chart pattern and later on in the course suggest a | | | | up. |