Category Archives: General Forex

General Forex

Learning Forex Trading The eToro Way

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The eToro platform was founded with the notion that forex-trading is not as complicated as it may seem. With the ingenious use of visual trade representations, eToro gives traders the chance to learn forex trading as they trade. The visual animations show novice forex traders how the forex market works and how their positions react to market movements in a creative and educational way. By practicing with eToro’s demo platforms, novices can learn forex trading from experience without having to pay for expensive and extensive forex trading courses.

That however is not all. In order to complement their educational forex trading platform, eToro puts a wide array of educational tools at their clients’ disposal. The eToro forex trading guide, for example, teaches traders the basics of the forex market using simple terminology that requires no previous forex knowledge. The guide explains the basic concepts of forex trading, lays out useful facts about the forex market, and lays out common trading strategies and market analysis techniques.

Recently, eToro has developed a more advanced learning tool in the shape of the eToro forex e-course. The eToro Forex Matador course is built in the shape of individual weekly lessons that tackle forex trading from the ground up. The lessons are designed to help novice traders evolve their trading skills from the basic beginner level to more a more advanced stage of trading and market analysis. Like the eToro forex guide, the eToro e-course explains all trading concepts with clarity and simplicity so as to make sure that are traders are able to understand the most advanced theories without any prior forex education. The eToro Forex Matador e-course is available for free to new eToro real trading account holders. For specific terms and conditions please contact the eToro support team.

Finally, to complement their structured educational tools, eToro also invites traders to participate in forum discussions and live chats with other members of eToro’s diverse and fast growing community. The knowledge of other traders is a priceless informational resource that traders can easily tap into by using eToro’s community tools. With this large array of educational opportunities, the eToro platform eliminates the need for any external aid in learning forex trading, which can be both costly and time consuming. The eToro platform is an open invitation to anyone who’s interested in financial trading and would like to learn the ropes quickly and painlessly.

General Forex

Forex Technical Analysis – Importance Of Trend Lines And Resistance Levels In Forex Technical Analysis

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Forex Technical Analysis

Forex trend lines are important components used in chart analysis. Though the market goes in a direction which is present in zig zag lines, the placement of lower and upper portion of a zig zag allows us for plotting lines which connect the important lows also called troughs and the important highs also called peaks present in a corresponding zig zag by making use of software algorithms in a computer.

For drawing trendlines, 2 points will be necessary and 3rd will be confirmation of contact point. A trend chart must be drawn when using troughs with peaks. The trend line must be parallel and should be drawn in opposite side with trade channels. All the lines are the borders of the channel. These trendlines are very much essential for analysis of the current data of the forex market and they can provide the exact price variations which can help us to determine the right currency to invest. Forex Technical Analysis

The bottom and upper trade channel borders are called as resistance and support lines. Each of the peaks will represent the price levels that exceed the buying and selling pressure. They are also called resistance levels. The troughs represent different selling pressure levels and the buying pressure. The support levels and resistance level help in determining the correct price variation and time to sell the currencies. The consecutive resistance and support levels should exceed the other data in uptrend market. The reverse will be called as downtrend. Though smaller exceptions can be accepted, failures must be considered as the signals which warn for change in trends.

Trend significance will be varied with volume and time. The price if longer can bounce off the resistance and support levels, which is very important when the trend gets higher. The volume of forex trading is also equally significant, particularly when the resistance and support levels are critical. When level of currency bounces under certain volume, the trend significance can increase. The important of resistance and support level shall go beyond the actual functions.

If the levels get penetrated convincingly, there can be variation in opposite. A very good support level, which can be penetrated with heavy volume, shall become strong resistance level. But in other case, a very high resistance shall change into very high support once it gets penetrated. Generally the borders of trade channel which help in making decisions for saving or closing an already existing position must be based on certain rules. The first rule is that channel will be highly reliable if it exists for a longer time. When the channel is very reliable, the width will be high and steep channels will be less reliable. Support levels could be broken and are not dependent on volume level. Forex Technical Analysis

General Forex

Learn To Trade Forex – Advice From A Group Of Traders Who Made Millions

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Learn To Trade Forex

If you are looking for the best way to trade Forex, you should start by looking at the group of traders enclosed, these traders learned to trade in just two weeks and made hundreds of millions of dollars! It’s an interesting story and one which can lead you to success so let’s look at it.

If you want the best way to learn to trade Forex, ignore all the people who tell you that there is a way to beat the market, there isn’t. All the people trying to sell you Forex Robots and other get rich quick systems – should be ignored, you need to make some effort but the rewards can be staggering, as we are about to find out. The group of traders we are going to look at in this article, learned the basics and you must to but the good news is they learned to trade in two weeks and became legends; if you are thinking maybe these traders were nerds, think again.

The people who learned to trade in two weeks consisted of an actor, a security guard, a kid out of high school and a lady auditor, to name just a few. This diverse group were picked by trading legend Richard Dennis, to prove anyone could win at trading and learn quickly. He was proved right, as his group of traders made over $200 million in 4 years. They were called the “turtles” and the system they were taught is now free online and if you look at the system you will see how simple it was. The system is less effective today, as market volatility has increased ( the experiment was 25 years ago) but it still makes good profits and has all the elements a good system should: Learn To Trade Forex

It was easy to understand, was based on trading the reality of price change via breakouts, it focused on the big long term trends and had strict money management parameters.

Many of the traders in interviews stated the system was easy to understand but hard to follow with discipline. Discipline is hard for most traders, as they simply can’t take losses, so they run them and when they have profits they cut them too soon! What you need to do to win is to cut losses and run profits, the above system had far more losers than winners but made huge gains.

Discipline comes from a solid education and confidence in your systems ability to perform long term; if you have confidence and you accept and take your losses and have the courage to milk the big trends for all there worth, you can make a lot of money.

So when anyone tells you, you need to work hard or have a college education to win, don’t believe them you don’t. Many of the top traders in the world, are high school drop outs and use simple systems but they all have one thing in common which you have probably already guessed – A humble attitude, respect for the market and the discipline and courage to follow their plan.

If you have understood this article you will now know the best way to learn to trade Forex and also understand that if you adopt the right mindset it’s the key to a huge regular income. Learn To Trade Forex