Reader Comments

Forex Millennium

by Ssregina Regina (2019-06-14)


I can't believe I am writing about this again but the Forex Millennium Reviewrecent fall in the dollar has highlighted the need for proper money management and to trade with stops. My focus is the forex market so I can only speak from this perspective but what I say is applicable to not only forex trading but all trading. If you want to stay in the game, trade with stops. I cannot say it any clearer. The aim of this article is to use the current forex market trends as an example of why a trader needs discipline and use stops Comparison of Candlestick and Bar Charts Relationship between opening and closing prices Bar charts lay emphasis on tracking the movement of the current day's closing price from that of the previous trading day's closing levels. Analysts using candlestick FX charts concentrate on identifying relationship between the same trading day's closing and opening prices.Change in body color Both these FX charts basically indicate the overall trend of the currency price. However by looking at the change in body color of the candlestick chart it is much easier to interpret the day to day market sentiment. Thus although both bar chart and candlestick chart indicate the same information, the latter is very easy to visually interpret and understand.Forex day trading involves buying and selling of currencies within a single trading day. There is no scope for the transaction being carried forward to the next trading day. Currency trading is one of the most popular methods of trading forex.Traders engaged in trading forex currency are highly skilled and have sufficient capital at their disposal. They make use of high leverage and well planned day trading strategies to make quick profits even on the smallest of price movements in highly liquid currencies.

 

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