Whatever forex software you use, it must be able to plot currency prices in “candlestick” format. We can honestly say that having attended several of these from various companies we’ve never yet met anyone who walked away from one of these sessions having learnt very much at all. If you have a knack for examining charts, or you just like to do it, that’s great. The Forex market is a very dynamic and demanding investment arena which requires a true understanding of the workings and complexities of the Forex market in order to profit from it.
In a transaction, a trader buys a currency from one country, and sells the currency from another country. This is true in theory but not in practice. A number of companies also provide specialist services in less frequently traded currency pairs
Now, which approach is better for Forex traders? The one that fits better your personality. puts you in unwanted scenarios, you are also better off trading mechanical systems, because you only need to follow what your system is telling you, go short, go long, close a trade. Believe me, nothing beats that first feeling when you wake up and see you made a profit overnight. Once you reach a point where 15 out of 20 consecutive trades make a profit, your are ready to trade with real money. Some guru’s latest flash in the pan trading strategy
With a forex broker by your side, you can now get some hands-on experience yourself with the charting software plus some valuable trading know-hows which you might never get to read up on books or elsewhere. The Forex currency market is the world’s largest financial market where the currency of one country is exchanged with another through an exchange rate system. The free-floating of currencies in the market turn over at a given time are determined by the supply and demand