Read the forex chart- Keep the profit
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  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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    Well, you have said this well, traders need to be working with their trading chart with the indicators and systems they know will give them the best trading supports. No matter what a trader thinks of the market, all I use is my own system of trading. Price action is never part of my system, but of course the support and resistance trading is full of mine as well.

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    Quote Originally Posted by cozard007 View Post
    Well, you have said this well, traders need to be working with their trading chart with the indicators and systems they know will give them the best trading supports. No matter what a trader thinks of the market, all I use is my own system of trading. Price action is never part of my system, but of course the support and resistance trading is full of mine as well.
    If we know how to analyze, how to use indicators and follow money management and overall how to trade we can change our life. The lots of things we learn from Forex at the same time we can earn money too. We become able to analysis. We become self employed. We become confident ourself. So i think It can do.

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    Quote Originally Posted by AmitChallenger View Post
    If we know how to analyze, how to use indicators and follow money management and overall how to trade we can change our life. The lots of things we learn from Forex at the same time we can earn money too. We become able to analysis. We become self employed. We become confident ourself. So i think It can do.
    Yes that all needed for success. I once read about an ad that described a successeful strategy, i trust it and i use it directly but it leads me to losses. I get angry from myself becuase the lack of experience make me beleive anything on the net about forex, the lesson was don't follow others blindly, and test all strategy or tips on demo accounts first.

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    Quote Originally Posted by cozard007 View Post
    Well, you have said this well, traders need to be working with their trading chart with the indicators and systems they know will give them the best trading supports. No matter what a trader thinks of the market, all I use is my own system of trading. Price action is never part of my system, but of course the support and resistance trading is full of mine as well.
    Oh nice, and yes we should follow our own trading system, its very important for us that how we are learning and observing in the market. Trader's should work with their own system and should use their own indicators, tools, analysis, etc. Our own trading knowledge can help us to do trade in better way I have also my own trading system and I like it very much too

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    Quote Originally Posted by Khimi234 View Post
    Oh nice, and yes we should follow our own trading system, its very important for us that how we are learning and observing in the market. Trader's should work with their own system and should use their own indicators, tools, analysis, etc. Our own trading knowledge can help us to do trade in better way I have also my own trading system and I like it very much too
    We have to work in Forex the manner it is best here. All business are not online business. The system of all business are not the same. Forex is a currency exchange but all business are not currency exchange. So we should not compare Forex with other . But somethings are helpful which has done in Forex .

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    Quote Originally Posted by AmitChallenger View Post
    We have to work in Forex the manner it is best here. All business are not online business. The system of all business are not the same. Forex is a currency exchange but all business are not currency exchange. So we should not compare Forex with other . But somethings are helpful which has done in Forex .
    Yes, since the forex trading requires the traders to work on the trading chart and online, there is no issue with that as long as I am concerned. What is really important is how traders takes the trading, minding the facts of the risk in the market, and making things done with good trading skills and common sense and management as well.

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    yes the different option with the available offers of the choice with the indy system those gives of the wider on options as trader to defines of ones with the best on work to help on delivering returns along with the level on risks and target as given with the initial preference with the trading terms.

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    Trader lawners1791's Avatar
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    the decision on working with the customs of the TF on earning with the better precision; those to had with the focus as trader spent of the proper on preparedness as qualifying the series of technical evaluation on defining the use with the indy system to work with the analytics.

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  10. #10
    Trader Ruhul Amin's Avatar
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    Quote Originally Posted by Hukam View Post
    I love to use support and resistance points analysis in the market. Mate the main thing is price action, and no matter we are following many indicator's or following a naked chart system without knowing about price action we can't make profit consistently. Technical analysis can help us to do trade without indicator's and its my favorite analysis
    Indicator are nothing to trade. I like the support and resistance also. It is the raw of forex trading and we get based data from it. So many successful trader only base on price action trading.

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