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Forex Lessons

How to enter a trade in forex - Fibonacci Retracements

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To apply the Fibonacci ratio, the first step is to measure the length of the price action, or the wave. This is often accomplished by identifying a major high and a major low, or vice versa. Once the high and low are identified, traders then use the Fibonacci retracement tool to measure this wave.

How to trade overbought and oversold levels - RSI

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With due practice, traders can hone their skills and use the RSI indicator to trade forex. However, trading a range market can be very risky as price often tends to move into the accumulation phase. Traders can often end up getting trapped due to fake breakouts, which are a common occurrence with the RSI indicator.

How to trade ranges - Stochastic Oscillator

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The Stochastic oscillator is a very versatile technical indicator that is easy to understand. However, traders should note that there are high risks when trading the ranging markets and simply using signals from the Stochastic oscillator is not good enough. To decide on your entry, you always need to consider the price action and upcoming events.

What is forex and why do we trade forex?

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Although trading forex looks easy and quite accessible, traders should remember one can easily lose all his or her investment due to the risky nature of the forex markets. Furthermore, the volatility in the currency markets is not suited to all investment profiles. Therefore, it is always in a trader’s best interest to consult with his or her personal financial advisor.

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