Currency Technical Analysis – How to Make Huge Profits Using FX Charts!

Posted on July 7, 2010, 3:56 pm, by admin, under FOREX Charts.

Currency Technical Analysis – How to Make Huge Profits Using FX Charts!

When you use charts, all you need to do is spot repetitive chart patterns and trade them for profit and there are several reliable ones which continually repeat and the reason they do is because people make markets and human nature never changes and is repeated in these chart patterns.

On any currency chart, you will see trends which see a currency move up or down for many weeks or longer at a time and its your aim, to lock into these trends and hold them. When you are doing this you are trading the price as it is and your not interested in news or opinions – You are not concerned with why markets are trending, you just want to get into them and hold them for profit.

You need to learn the high odds chart formations and become familiar with support and resistance; once you have learned the visual patterns you can learn some indicators to help you time your trading signals. Indicators are visual to and the ones you are interested in are the ones that measure momentum of price to see how strong or weak a trend is, good ones to use are the MACD, RSI and the stochastic, there are numerous indicators you can choose from but always keep your system simple and only use a few to confirm your moves.

Never try and make your system to complex, because if you do, it simply won’t work because it will have to many parameters to break. Simple systems work well, so don’t work harder than you have to on building your strategy.

When deciding on the time frame to trade stick to the bog trends, you will make more money with these than trying to scalp or day trade and you will also not need to spend so much time on your trading. When following big long term trends you need only work 30 minutes a day, to make a triple digit income.

If you want to learn charting you can and all you need to do is – to be able to spot visual set ups and anyone can learn to do this – so if you want to become a successful Forex trader from home, learn currency trading analysis and get on the road to a great second income.

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In this video you can learn how to add, customize, remove technical indicators in Marketiva’s trading platform, Streamster. Free charting software! eu-forex.eu
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3 Comments

  1. Luke Jackson says:
    October 1, 2010 at 5:44 am

    Forex rates these days are quite low, i would not invest in forex this month;”:

  2. Wood Shelf  says:
    October 18, 2010 at 12:12 pm

    forex rates are fluctuating wildly these days:-`

  3. Can Crusher · says:
    November 8, 2010 at 4:40 am

    Forex rates do fluctuate a lot so you should be careful with your forex investments ‘

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