What you need to do other than avoid the noise of price action is to isolate the trend in order to profit from the forex market. Here is beneficial information for this particular trade. Trading forex can be profitable if you know what you are doing. Trillions of dollar's worth of currencies is traded almost daily, and traders can take advantage of huge leverage, subject to new regulations. In this case, big profits begin with a low cost of...more
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Think about the numbers 1, 2, 3, 4, 5, 6 forming a series. Can you guess the next number? The number 7. Although the solution made its apparent so easily in the above, the true fact is that predicting numbers in the forex market are not so different. Your brain has to be super good with numbers and also to memorize them all if you want to hit upon the right answer here. Let's look at another example: 1, 2, 3, 5, 8, 13, 21. It will be obvious to most people that the next number in line is 34. You have to recognize that each number is given by the sum of the two numbers coming before it. As a trader, you should remember the above series as the Fibonacci series that is primary to a lot of things in nature , including forex price movements. These cases simply tell you how tough it is for a forex trader to predict the numbers in the price movement of the markets. The value of the Forex Trading Intelligence Quotient, or your FX IQ is decided by your abilities in this field. To try and get an idea of how high your FX IQ is, try and study a string of happenings that are uncorrelated on the surface, for example the hurricanes that devastated the coast of Florida some time back. ...more
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