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Thread: Read the forex chart- Keep the profit

  1. #1
    Trader Ruhul Amin's Avatar
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    Read the forex chart- Keep the profit

    When we take some advantage of trading, we must analysis the market. But there are a lot of analysis. So we take advantage of technical analysis. You believe it or not. There is everything on technical analysis is read the chart and make the decision depend on price.

    So if you want to success here easily make a trading system that involve chart reading. But how we can read the chart in order to make profit here. If we take some indicator , then we can read it easily with the help of support and resistance. The step I give below.

    Support and Resistance:
    First of all, try to find out support and resistance of a chart/ Currency pair. In different time frame it would be defer but you have to believe , the original price will stay with a support and resistance zone.

    Open and Close:
    It is very important that, we keep our eyes on open and close price. It will increase the ability of trading in forex market. Also a open and close price will help to calculate the pivot point or other important indicators.

    Indicator:
    There are different kind of indicators. It is easy to use and make a simple strategy. So if we work out, we can make good strategy with forex easily. Most popular indicators are included on mt4 software. I think, that’s are enough for a trader to read chart data.

    Timeframe:
    This is most important thing we should mark on our decision that, focus on the time frame we use. It must relevant with our strategy also.

    Finally, In the view of reading chart, and trade with it is focus on price. However also fundamental analysis is very important before we read the chart data technically.

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  2. #61
    Trader lawners1791's Avatar
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    the decision as working with the analytics concerning the intrinsic value of commodity as having with the good access to information that those to gives with the helps on examining use of data as initializing aspects with the economics, industry and more with the major company analytics on referring forecast of options.

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  3. #62
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    Charst have a way they bring in the past and there is the right way that they work well for all of us so we have to run the right paths of all of those who. charts can help you learn the history of a currency pair and also know where exactly the trade will be and so its the right one when we are trading and making it right there so charts are friends and work to the benefit of any one trader

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  4. #63
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    Quote Originally Posted by Khimi234 View Post
    Well I have a lot of time to spend in forex market, I am a full time trader personally I spend time only Monday to Friday on forex charts, I am working upon short term and long term trading both now days. So I take rest for Saturday and Sunday, some time I read books and try to learn more from them, but most of time I take rest on Saturday and Sunday.
    as a full time trader, so have much time to learn forex trading, remember, when spend the time from monday to friday then means we learn forex at the same time too , and will give us more understanding about the market situation , this is good to take a rest on saturday and sunday, let us get fresh mind to start trading on next monday

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  5. #64
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    Quote Originally Posted by newentry View Post
    as a full time trader, so have much time to learn forex trading, remember, when spend the time from monday to friday then means we learn forex at the same time too , and will give us more understanding about the market situation , this is good to take a rest on saturday and sunday, let us get fresh mind to start trading on next monday
    i do not have challenges with my trading, the forex business is favorably spread for me and i am making my money with the time i spend with the market. you can not be spending every time with the forex, there are times to lean or rest and try to moderate things.

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  6. #65
    Trader lawners1791's Avatar
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    as the decision on trader to work of the good action to defines of one with the option as return of the good moderation with the good evaluation of data and records of information that those to focus with the customs of qwork with the monitoring.

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  7. #66
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    Quote Originally Posted by silverlady View Post
    i do not have challenges with my trading, the forex business is favorably spread for me and i am making my money with the time i spend with the market. you can not be spending every time with the forex, there are times to lean or rest and try to moderate things.
    Proper rest is helpful for us, this is good thing to do rest on Saturday and Sunday and there is no need to look your forex charts again and again, long term trader's don't have to that continuously but short term trader can look their chart for few hours, after getting their daily target its better to focus on tomorrow, over trading or a long hour use of forex charts would give us a lot of emotion in trading.

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  8. #67
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    Quote Originally Posted by forexlearner View Post
    Proper rest is helpful for us, this is good thing to do rest on Saturday and Sunday and there is no need to look your forex charts again and again, long term trader's don't have to that continuously but short term trader can look their chart for few hours, after getting their daily target its better to focus on tomorrow, over trading or a long hour use of forex charts would give us a lot of emotion in trading.
    [lang=id]it is good for traders to take a time for take a rest, sunday and saturday may become good days for this, traders need to get refreshing and helpful for them to refresh the mind and body, then can enter at monday with good fit, and also because forex trading is the place where everyone will get the pressure for all the time to enter the market,[/lang]

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  9. #68
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    Quote Originally Posted by Ruhul Amin View Post
    Support and Resistance:
    First of all, try to find out support and resistance of a chart/ Currency pair. In different time frame it would be defer but you have to believe , the original price will stay with a support and resistance zone.
    Using the support and resistance in forex trading is very good to determine the level of the demand and the supply, Trader even to use the support and resistance level but can not use the best trading strategy into it. I know the price moves rapidly with the level of the support and resistance level.

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  10. #69
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    elying on luck in running trade could happen in once or twice, could not forever. luck will not see us throughout life, not a lucky person in the long term.
    loss sure we get because it is part of the process of running a trade and as a logical consequence of trading. we can do is reduce the level of risk so that with the skills will decrease loss and hope to always achieve good profits.

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  11. #70
    Trader Hukam's Avatar
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    Quote Originally Posted by madhujella View Post
    elying on luck in running trade could happen in once or twice, could not forever. luck will not see us throughout life, not a lucky person in the long term.
    loss sure we get because it is part of the process of running a trade and as a logical consequence of trading. we can do is reduce the level of risk so that with the skills will decrease loss and hope to always achieve good profits.
    You can't make money always with the help of your luck, so better to forget about it. Lucky person is no more than a gambler in forex market, gambling trading could lead to indigence in this business. Its realistic for trader's to do trade with proper trading analysis, and support and resistance trading analysis would be a good option for trader's. Gambling can put us in baffle so better to stay away from it.

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