Posts Tagged ‘Foreign Exchange Market’

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Lesson 18 — Trend Indicators

This is lesson 18 of the series. Do you still have difficulties in finding out which direction the market is going. You can find a variety of trend indicators which would in a upward or downward market but not so much in a flat market condition, however there are other indicators which are more suitable for that. Following trend indicators in trending markets can help you gain large […]

Lesson 17 — Flat Condition and How to Define It

This is lesson 17 of the series. As this has happened to you already, you opened a trade because you thought the market was trading upwards or downwards and then it turns and you have closed it. And you find out tht that the market continue changing direction again and again, the market might have been in a flat situation, which is just moving sideways and is neither bullish or nor bearish. […]

Lesson 16 — Support and Resistance Levels

This is lesson 16 of the series. Support and resistance levels are the major help for the technical analysis of the Forex markets with its ups and downs of the prices. Any time when the price reverses at a point in chart, the horizontal line can be drawn through it to mark the support or resistance level. The levels are called support levels if they stop the downward movement from continuing and they are called resistance level […]

Lesson 15 — Types of Trend

This is lesson 15 of the series. There are three types of trend — upwards, downwards and sideways. It is very important for you to know because it tells you when you should buy or sell or you should better wait to enter. Your trading success is determined by right timing. So better don't forget the well known saying "trend is your friend". How can you […]

Lesson 13 — Making Charts

This is lesson 13 of the series. To open a new chart we click on the File, new chart on the menu bar. We then choose the currency pair. We can choose whether we want bar chart, line chart or candlestick chart. Changes in price movements can better be seen in a Candlestick chart.

Lesson 12 — How to Open and Close Buy Sell Order

This is lesson 12 of the series. If you want to place a trade, you need to make a Market order. You can do that easily by clicking the New order button in the standard tool bar. Alternatively you can double click on the Market watch window or by right clicking on the chart. In the Order window you can select lot size, stoploss, take profit, type of order, buy and sell orders. To close a trade, […]

Lesson 11 — Currency Pairs

This is lesson 11 of the series. The most traded currencies in the Forex market are Euro, US Dollar and Japanese Yen, also the British Pound, Canadian Dollar, the Australian dollar and the Swiss Franc. The EUR/USD has the highest trading volume with almost 1/3 of the world's turnover. There are lots of other pairs of currencies that are not so often traded and hence they are more expensive to trade and their spreads […]

Lesson 10 — The Functions of Toolbar and Main Windows

This is lesson 10 of the series. The terminal is one of the main windows of the MetaTrader software. You can do many basic actions there. You have a survey of your orders and pending orders. You can see various information about a trade like Trade number, date, time, size, symbol, price at which the trade is opened, stoploss, take profit, current price, commission, swap and the profit your trade […]

Lesson 9 — The Functions of Toolbar and Main Windows

This is lesson 9 of the series. In this video we will learn about toolbar, its functions and other windows. There are 4 types of tool bars — Standard, Charts, Line studies and Periodicity. The Market watch window gives you a list of currency pairs and shows you the bid and ask price. The Data window shows you valuable information on the prices. In the Navigator window you can find your trading […]

Lesson 8 — Opening of Demo Account

This is Lesson 8 of the series. You can open your demo account from your MetaTrader 4 platform before trading with real money. It is recommended if you are at the beginning of your Forex trading career. This way you don't risk losing your real money before you know enough trading with real money. You can check out the demo version […]

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