Forex for Dummies
Forex Basics
If you ' ve already read the " What is Forex? " high-rise thus you should know what Forex market is and what is all about it. If not, please you do it. There are five essential aspects of foreign currency market a beginner trader ( and an old one as well ) should be aware of:
Forex Fundamental Analysis
Forex Technical Analysis
Money Management
Forex Trading Psychology
Forex Brokerage
Understanding and mastering these sides of trading are formidable to organize your Forex trading experience.
Forex Fundamental Analysis
Fundamental analysis is the fashion of market analysis which is done regarding only " real " events and macroeconomic data which is related to the traded currencies. Fundamental analysis is used not only for Forex but can be a part of at all financial planning or forecasting. Concepts that are part of Forex elementary analysis: overnight interest rates, central banks meetings and decisions, any macroeconomic news, international industrial, economical, all political and latest weather news. Fundamental analysis is the mainly natural way of making Forex marke forecasts. In theory, it alone should work basically, but in practice it is often used in pair with technical analysis. Recommended e - books on Forex fundamental analysis:
Reminiscences of a Stock Operator
What Moves the Currency Market?
Forex Technical Analysis
Technical analysis is the process of market analysis that relies only on market data numbers - quotes, charts, simple and complex indicators, volume of endow and demand, past market data, etc. The main idea behind Forex technical analysis is the regard of functional dependence of the future market technical data on the past market technical data. As well as with fundamental analysis, technical analysis is believed to be self - cogent and you can convenience only it to successfully trade Forex. In exposure, both analysis methods are used. Recommended e - books on Forex fundamental analysis are:
The Law Of Charts
Candlesticks For Support And Resistance
Trend Determination
