For online transactions on financial markets, the NordFX brokerage company offers its clients the world's most popular trading terminal - MetaTrader 4 (MT4). After downloading it, the trader will see three possible options for the graphical display of quotes for trading instruments in the "Properties" section - these are bars, a line and Japanese candlesticks.
Agree that candlesticks, and even Japanese ones, are difficult to recognize as a tool of technical analysis. But this is only at first glance.
Traders can use not only their knowledge in their work, but also various computer programs: auxiliary scripts, as well as algorithms that can give recommendations and even open and close transactions on their own. These automated trading systems are called Forex robots. This article will discuss them in detail, as well as talk about the types and how to use them.
It is possible to make money on currency fluctuations not only by trading. Forex PAMM services allow even those who have no previous trading experience to profit from changes in prices of foreign currency assets. On the other hand, for a professional trader, the Forex PAMM service is an opportunity to increase the size of their trading capital.
Price is the most unpredictable variable that can surprise many with its bursts, reversals, figures and pirouettes. Despite the fact that there are a huge number of stories of earnings based on intuition, all of them logically end after some time in the same thing: the loss of the deposit.
Actually, the currency market and adrenaline are two incompatible things. Only curbed emotions and a systemic approach can bring stability to trade. This cannot be achieved without understanding the market, the ability to predict it and use these skills in your trading strategy. A trading plan and a clear algorithm of actions is what every trader should start with. Forex indicators and technical analysis can help you along the way. They will be discussed in this article.
Finding patterns, repeatability and historical cyclicality is one of the main tasks of a trader. Some use graphic patterns to look for the silhouettes of geometric shapes. Some study the characteristic price movements: acceleration, braking, and interaction with graphic objects. However, there is a huge category of traders who are engaged in technical analysis of Forex using indicators. They allow you to predict the market, study its various characteristics and use these patterns in your own trading. Even beginners who have just heard about the existence of technical analysis will be able to analyze the market with their help.