Author: admin | Filed under: Forex Analysis | No Comments »
There are two types of forex market analysis: fundamental analysis, which considers economic, social and political forces and how they influence the currency markets, and technical analysis which uses charts to identify trends and patterns in the movement of prices.
So which one is better? If you check out forums and websites you will find many traders strongly supporting one or the other. Those who like to rely on charts will tell you that the only way to make money with forex trading is to identify trends and jump onto them as early as possible.
At the same time the advocates of fundamental analysis will argue that it is the economic factors that drive the changes in currency prices and this is undoubtedly true, at least most of the time. From that position they will reason that any patterns you might find on a chart are nothing more than coincidental.
But logically this does not necessarily follow. Even though economic changes have a huge impact on the currency markets, it may still be possible to identify patterns in the way that the markets react after an announcement or in times when there are no major announcements.
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Author: admin | Filed under: Products Review | No Comments »
The following FAP Turbo review looks at the expert advisor that burst onto the market late in 2008 and has been taking the forex scene by storm. Is it truly as great as the sales page makes out? Following are the positive and negative points of FAP Turbo in our humble opinion.
User Results and Feedback
This is always the most crucial thing to consider for any forex robot. Obviously, the outcomes that the product developers claim on the sales page are remarkable, but how things go about when you purchased it? How exactly does it actually perform for people just like you?
FAPTurbo performs fairly well here. It surpasses most of the other automated systems on the market. Just like all robots it has its bad moments when the market doesn’t work in the manner it is set up to expect, and (once again like all robots) some people just have a bad moment with it for one reason or another, usually because they lose interest while trying to set it up.
Do not anticipate to double your money in a week. The risk you’ll have to take to do that would be huge. The unbiased feedback in the forums is typically positive, that is if you ignore total newbies who were aiming to get rich overnight. The majority of people are reporting around 10% to 30% profit per month which is actually a nice steady outcome.
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Author: admin | Filed under: Forex Tips | 1 Comment »
A forex trading forum is a popular place for beginners to go when they are just getting into forex trading. There are many internet forums and you can discuss any aspect of currency trading there. But should you trust the answers that you get? Are these online discussion sites really a valuable source of information, or just a drain on your time?
Forums began in the time of the Roman empire. At that time they were a physical space in the middle of the city a little like a market place but without a market. The men of the city would meet there to hear and debate matters of importance such as politics and the law.
Since then the word has come to mean any location or group in which discussion takes place and opinions can be aired. On the internet, it has gradually taken over from the term ‘bulletin board’ which was used for the old style of sites where members could post messages. The new format of forums is much easier to navigate and people can more easily get involved in discussions than they could on bulletin boards.
This means that it is very easy to either start or join in a discussion. If you have a question you can post it and you are almost certain to see replies. For some aspects of foreign exchange trading this can be very useful.
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Author: admin | Filed under: Forex Analysis | No Comments »
Among the many types of technical analysis available to forex traders, the single most useful and popular are probably candlestick charts. These were originally developed in Japan during the 18th century by a prominent commodity trader who used them to chart the fluctuations in the price of rice. For this reason they are often known as Japanese candlestick charts, and many of the patterns that they form have Japanese names.
Simple line graphs plotting the price of a commodity at regular intervals in time had been used for centuries, but traders were in need of something that could plot more variables within a two dimensional graph. The bar chart showing the opening, high, low and closing prices of a commodity was useful and helped traders to predict future price movements in a more reliable way than line charts, but candlestick charts were even better.
They were introduced to the American stock market and from there to the worldwide financial markets by Charles Dow at the beginning of the 20th century. Dow was the founder of the Wall Street Journal and co-founder of the Dow Jones company.
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