Forex Trade Signals
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Transcript of Forex Trade Signals
History repeats itself and so does the Forex market.
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Forex trade signals are technical analysis tools that evolved from the Candlestick
analysis of hundreds of years ago.
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Japanese rice traders realized that there were patterns to trading and that they
repeated.
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Thus Candlestick charting techniques and Candlestick chart analysis gave the practitioner a decided advantage in rice
commodity trading.
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The same principles that let the market tell us what the market will do next are
applicable today in the foreign exchange market.
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Forex trade signals such as a reverse head and shoulders pattern told traders recently that the PIIGS driven plunge of
the Euro was about to halt.
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Technical analysis in the form of Forex trade signals is what helps traders sort the wheat from the chaff in daily Forex
trading.
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Thomas Jefferson said that those who don’t know history are doomed to
repeat it.
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Avid practitioner of Candlestick basics will say that knowing market history allows you to profit from it again and
again.
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Trading software can easily have as many as thirty years of market
experience in its database.
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This fact lets you run simulations of many difference trading scenarios and
trading strategies.
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When trading Forex online your online trading software will give you signals for when to buy and when to sell; namely
where to put your stops.
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Forex trade signals are not perfect. Candlestick pattern practitioners have known for centuries that these signals
are extremely useful but that investment risk still exists.
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Commercially available trading programs talk of up to 86% accuracy looking one
to three days out.
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However, these programs are typically most accurate where the data is best,
the volume highest,
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and the liquidity at the maximum, namely the major currency pairs.
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If you are looking to trade minor currency pairs you may well experience a lower lever of accuracy in predicting
market movements.
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The hype that goes with selling trading software can get extreme.
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One ad says that you can bypass 30 years of experience by using their
software.
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Experts will tell you that using trading techniques you do not understand is
asking for trouble.
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Forex day trading it is wise to learn the signals, practice the signals and only use
the signals that you know.
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A good place to start is with Candlestick basics. Learn the basic Candlestick
signals.
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These are applicable in Forex trading, the commodities markets, stock trading,
trading options, and trading futures.
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The Doji and Morningstar have guided successful traders for centuries.
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They can help you find success in Forex trading.
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Creating a Candlestick chart is easy. You simply enter the opening price, high,
low, and closing price.
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Because these numbers are illustrated as a rectangle placed on end, with lines
coming out of each end,
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a candlestick with two wicks comes to mind, thus Japanese Candlesticks.
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Candlestick chart analysis takes little time, once you know the signals.
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What is important is to do it routinely and analyze your results frequently.
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Because no system is perfect you will learn which signals serve you the best in
trading Forex.
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Then you will be able to let the lessons of history serve you instead of doom
you.
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Online Stock Market Reviews presented live via the internet by Stephen Bigalow
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