LOOKING SINCERE ADVICE

[ANSARI]

HELLO,

I WANT TO GET IN TRADE OF FOREX
WHAT ARE THE FUNDAMENTAL WHICH I MUST KNOW BEFORE TO START TRADING IN FOREX AS NEW .

WHAT IS PIVOT POINT I.E.,

IN A FORMULA OF PIVOT

RESISTANCE 3 = HIGH + 2*(PIVOT-LOW)

WHAT IS 2 IN FORMULA KINDLY EXPLAIN WITH EXAMPLE AND
EXPLAIN WHOLE FORMULA AS WELL

kindly reply to me at my following email address

LOOKING FORWARD,

REGARDS,

SOHAIL

e_sohail77@yahoo.com

 

[Enivid]

First, don't write in all caps.

Second, if you talk about floor pivot points then the Pivot in formula is:
Pivot (P) = (High + Low + Close) / 3

Third, "2" in your formula is the number 2.

Example:
EUR/USD
High: 1.3600
Low: 1.3500
Close: 1.3570

Pivot = 1.3557

Resistance 3 = 1.3713

You can find all formulas here:
http://www.earnforex.com/pivot-points-calculator

 

[Amna Joseph]

Thats nice explanation Admin.

I would suggest this newbie to get himself well educated by all the forex terms and formulas before he jump into forex. I think you should know all the economic and social factors that effect forex and ways how you can use them in your trades.

 

[FXexpert]

I definitely think learning more about the Forex market & Forex terms in general. Get one of the many free ebooks online which explain Forex trading in simple terms, read up & down great forums like this one to gain free knowledge & practice on a demo or micro account to gain valuable experience.

 

[Sofia]

Initially i would suggest that you get acquainted yourself with all the basic terminologies used at the Forex Market. Make sure you read the Technical and Fundamental Analysis well and incorporate the habit of analyzing these analysis from time to time. They will certainly help you in making positive trades at the market.