Forex charts and money

Types of forex analyisis

Konichiwa again traders,

Welcome back to another post on learning Forex. We looked at how to open a Forex trading account and created what is known as a demo account. We looked at the procedure to create such an account and the necessary things needed to create such an account. Again if you don’t know these steps refer back to OPENING A FOREX ACCOUNT. If you remember (and are still fresh to death) we are now going to demystify what it takes to read or use that Forex account you’ve just opened. Think of the next posts as owners manual to your Forex trading account. If you don’t know how to get the best of that account or even use it…what use is it.

Forex Analysis types

By now you’ve learnt Forex history and you’ve come this far. At this point you have reached the real meat of it all. This now requires real commitment to create true Forex success. Once you go down this path you must go all the way. Now is the time to turn back and be mediocre. Remember its easy to be mediocre but the path to greatness is much harder. So decide now.

If your reading this you’ve decided to be awesome…good for you, persist always with your thirst for knowledge and tools. When you open that trading account and first login in (hopefully its a demo account) you will see various charts and colors.

Well before you can understand this charts and colors you need to learn how to analyze them. This is to make sense of them all and plan your trades how to make the real money. The three analysis types/ways are;

  1. Technical analysis
  2. Fundamental analysis
  3. Sentimental analysis

These three analysis types are what is used by most traders. There is constant debate about which is the best among the three but most people think its important to learn all three. Its like a three legged stool you cant do without one leg or the other. Like the legs of such a stool if one is weak or poorly made you will fall on your butt hard. This is the same as your analysis in a chart to make a trade. Failure to use this three analysis types well will lead to you losing a trade which is the equivalent of you falling flat on your face not even your butt.

Now we start with the TECHNICAL ANALYSIS…

 

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