With the volatility found in the forex market, it is critical that a successful investor have a way of helping them decide on the best trades to make. Using established and current forex trading charts are a good way to minimize the risk with a particular trade and ensure consistent profits over time. These forex trading charts are one of the many technical indicators that investors will use to make their forex trades and they are typically combined with other data about a currency to make the final determination. Basically an investor should consider a combination of volume, current price and immediate market indicators to help them identify trends in a particular currency pair. These forex trading charts can help illustrate these trends and allow for better trades as a result.
Most forex trading charts are based on a variable timeframe of data. These forex trading charts can be adjusted to show a give timeframe of focus and will allow a trader to see the historical behavior of a particular currency over the chosen period. This trending data on price will help the investor pick the right time to establish a position for a currency that shows promise of movement. The data in the forex trading charts can be organized in a variety of ways to help better illustrate the price trends relative to other criteria.
One of the very popular forex trading charts is the candlestick charts. These show a very clear picture of how a currency did over a period of time relative to price. Many investors use these candlestick charts as their primary investment tool and feel that they provide all the information they need for a trade. Other investment strategies also include additional technical indicators to help provide a fuller picture of a currency value. The basic candlestick charts will show the opening and closing price for a currency over a given period. These two values form a box and if the currency closes at a higher price than the box is considered to be open. If the currency closes at a lower price than what it opened at, the box is filled in and is called closed.
In addition to the basic box arrangement, there are other lines called shadows that extend from the ends of the box to indicate additional details about the currency. These shadows help establish trending for a currency and can indicate a bullish condition for a currency pair. By analyzing the various combinations of boxes and shadows a trader can determine the best time to establish a position on a currency. Even though the basic mechanism of the candlestick charts seem simple at first glance, they reveal a very complex analysis that can help you make better forex investments.
Over time, patterns begin to emerge from these candlestick charts and are characterized by the way the boxes and shadows appear relative to each other. Terms like “long day” and “short day” enable investors to gauge the health and price of a currency and make predictions on its future value. More advanced patterns like “raindrops” and “stars” are powerful indicators for investors on what type of position to take on a currency.
Average user rating: 10/10
Reviewer: Christopher Leyton
Website: Forex Megadroid
The Forex Megadroid is a robot trading program that was developed using the 38 combined years of experience of its two founders. They were both involved with forex trading for most of their career and employ the techniques that Forex Megadroid is based on in their own trading strategies.
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Average user rating: 9,5/10
Reviewer: Christopher Leyton
Website: Fap Turbo
Automated forex trading programs are abundant on the web and every one of them uses a slightly different method to trigger the trades it makes. The FAP Turbo program is a slightly more sophisticated program for forex trading and is actually based on an older program known as forex autopilot, hence the name FAP turbo.
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Average user rating: 9,5/10
Reviewer: Christopher Leyton
Website: Forex Bling
Forex Bling (by Yohanes R. Gagahlin) is a forex trading system that can be used by any investor to increase their trading averages and help them build a profitable forex account. The system is based on years of trading experience and includes several different types of forex trading strategies.
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Average user rating: 9,5/10
Reviewer: Christopher Leyton
Website: LMT Forex Formula
The LMT Forex Formula is a unique system for forex trading that allows you to place trades that have a high probability of generating huge profits. The system concentrates on specific forex trades that have the potential of strong trending and allows you to take a position on these currencies and capture the profit.
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Average user rating: 9,5/10
Reviewer: Christopher Leyton
Website: Forex Rebellion
The Forex Rebellion trading system is a very effective way to help the average trader improve their trading accuracy and increase their profits substantially. Unlike many of the automated robot trading systems, the Forex Rebellion trading solution is a trade advisor that allows you to make your own trades based on the details the system provides.
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