Steps On Learning Technical Analysis

[moonchild]

Learning technical analysis is very important in Forex Trading because it enables to predict the market and carryout well thought out trades that can make you profits, before starting to learn technical analysis it is advisable to learn the fundamentals behind them, let's get started.

1. Learn Candlesticks Pattern; By Learning candlestick patterns you will understand how the market moves and the story behind any candlestick on the charts, there are different books available for free on the internet where you can learn this, but the most recommended one is the 'Candlestick Bible'.

2. Start With The Higher Time Frame; On higher timeframes, the data is more condensed and the chart moves with distinct patterns that you can understand easily, you will support patterns easily on higher time frame than on lower, where it is usually choppy and lot of noise, but after studying higher time frame you can move to lower time frame and look for an entry.

3. Keep On Improving Your Skills; Always stay refreshed by reading more books and watching videos, this can help you to solidify your knowledge, but also do this with caution, remember to always keep trading simple because it really is.

Hope you enjoy these tips, if you do, leave a feedback.

 

[Sotherefore]

Technical analysis is what is needed to trade the forex market successfully and anyone with the interest to learn technical analysis must understand that it is not something that can be learnt and understanding within a short period of time , it requires consistent learning, practice to master it completely.

It is also a wide area because you need to understand every market structure and what it stands for. If you are dedicated the possibility of succeeding in learning the analysis within a period of five months is possible and with that you can start predicting market movement based on your analysis..

However , it is also advised that for you to increase your chance of learning and understanding more better , it is advised that you get yourself connected with expert. They are able to guide you through on how to get started. This is what every learners must understand. .

 

[Forse]

Thank you for your tips. I recommend myself to read the book "Trading for a Living: Psychology, Trading Tactics, Money Management" by Alexander Elder.

 

[Asahi]

Broker’s regulation has become white elephant nowadays. A regulated broker allows traders with numerous trading advantages that ultimately increase traders’ return. There are several brokers on the market so you should select one of those with a very caution. Eurotrader is a regulated broker for traders.

 

[Ivo Zetticci]

Maximum newbie traders bring up the practice of buying signals but this approach isn’t effective at all. Until a trader doesn’t develop his own signal-making skill, he is not a good trader. Besides earning skill, applying those earned lessons on demo account as a trial is a part of learning. Eurotrader provides signals on and off to help traders earn profit.

 

[Jack Reacher]

Trading in multiple pairs will be difficult for a trader because it confuses traders. You should rather pick only one or two pairs because of easy analysis. In all cases, use a regulated broker because it’s a mounting support for you. Eurotrader offers more than 50 trading pairs to traders to trade.

 

[ShyCube]

Thank you for these tips! They were very helpful and great pointers for beginners here to go through. I would like to add that traders need to spend time learning both types of analysis ; technical and fundamental as it will help them understand the kind of trader they wish to be.