Forex Basics

Basics of Chart Patterns

Triangle The “classical” triangle has at least 5 waves, and the breakthrough happens at about 2/3 of the horizontal size of a triangle. It is not enough for the price to touch the side of a triangle, the price bar must close outside the triangle, otherwice we might have a...

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18 Simple Tading Rules

Buy high -> Sell higher – Sell Low -> Buy Lower. Do not try to bottom fish or pick tops. When you think you know the trend then follow it. Think big picture but trade like a technical analyst. You must understand the fundamentals behind your investment ideas but you...

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The different types of FOREX orders

Below is a “visual” reference of where orders need to be placed with respect to the current market price: Buy STOP LIMIT Buy STOP Sell LIMIT MARKET PRICE Buy LIMIT Sell STOP Sell STOP LIMIT Market Order With this type of order you agree to enter or exit the market...

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Currency symbols, names and codes

World Currencies listed by Country name. This is a list of global currencies and the three-character currency codes that we have found are generally used to represent them. Often, but not always, this code is the same as the ISO 4217 standard. ISO 4217 is the international standard describing three-letter...

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What is a Trading System?

Here are some key factors to keep in mind when using trading systems in the FOREX. Any forex trading system should encompass these functions: a trend filter to identify developing trends (short, intermediate, long) and their direction (upwards, downwards, sideways). an entry system to generate signals based on various technical...

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Choosing a Forex Broker

What to look for when choosing a Forex broker? Here are some things to consider: Spreads The spread, calculated in “pips,” is the difference between the price at which a currency can be purchased and the price at which it can be sold at any given point in time. Because...

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