Technical analysis is the study of historical prices in an attempt to "predict" or know with greater probability where future prices may be. This is accomplished through the application of mathematical equations to forex prices and the use of other techniques. In forex trading, technical analysis is the key.
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| Forex Technical Analysis Training |
Consequently, an understanding of technical analysis is essential to trade currencies. This training section will build upon the knowledge obtained in the charting and basic sections of the forex trading.
While it seems that the goal of many technical analysis courses and seminars is to inundate (and confuse) traders with hundreds of different technical indicators and endless theory, our sole purpose is to teach traders something practical. Strong emphasis is made on the practical use of technical analysis in forex trading. In this section of our free training, we will cover:
The importance of proper charting techniques
Technical analysis concepts
Using currency charts with technical indicators
When to buy and sell a given currency pair
Candlestick charting
Practical technical analysis in the forex market
At this point we would like to warn new forex traders to beware of the countless number of technical analysis books written. Many of these books are filled with complex mathematical technical analysis indicators, but lack information on the practical use of these indicators.
These books serve only as a reference to technical analysis concepts, not as a practical trading guide. This does new forex traders more harm than good in the initial learning stage of forex trading. Stay away from technical analysis books in the initial stages of trading.
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