Let’s quickly recap the different types of market. Forex markets tend to be either range bound, where a currency pairs trades between two specific points of support and resistance with no sign of breaking these points, or...
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Forex Lesson 6: Technical Analysis Revisited (2)
Noteworthy Points when Trading Currencies Every currency pair trades in different ways and patterns depending on the currency pair involved. As such there are no hard or fast rules regarding currency trade patterns but there are...
Forex Lesson 7: Key Market Influences
The Forex market is considered to be the largest market in the world with huge numbers of buyers and sellers. The volume of trade in the Forex market is difficult to monitor because the number of buyers and sellers isn’t...
Forex Lesson 8: Fundamental Analysis
Fundamental analysis is an extra tool that a trader can add to their toolbox to use in conjunction with technical analysis. It would never be recommended to use fundamental analysis by itself without any further information but...
Forex Lesson 9: Trade Management
Now that we are coming to the end of our Forex modules there are a few key points that it are worthwhile mentioning. It can be tempting at this stage to rush out and begin trading without remember some of the fundamental golden...
Forex Lesson 10: Trading Psychology
Emotions are the trader’s worse enemy. As mentioned in module 9 to be a successful trader it is best to make decisions that are totally devoid of emotion. However emotions can be hard to overcome for the new or inexperienced...
Trading Strategy: Buy Support and Sell Resistance
This is an alternate trading strategy that you use when a market is not trending clearly, but moving sideways. It is short-term, with the price going between the support and resistance, and you need a sufficient difference...
Trading Strategy: Sell Relative Weakness
Another opposite strategy, this one is similar to the buy relative strength. We do not wait for a rally in a downtrend, but choose the strongest downtrending security by a process of refinement. If you remember, one of the...
Trading Strategy: Selling Rallies
This strategy is the opposite of buying dips, and applies in a bear market. It involves taking a short position, selling on temporary strength, an upward retracement or consolidation, in an otherwise downtrending market. Here are...
Trading Strategy: Buy Relative Strength
In contrast to the previous strategy, where we waited until there was a consolidation or retracement in the trend to be sure that we traded at a suitable low point, an alternative way to profit from an uptrend is to buy into the...