subject: Learning The Spot Forex Market [print this page] Forex traders need to learn charting and technical analysis, most active traders use indicators. Many FX traders have often beat up the indicators instead of using them properly to make trades. The problem is that new traders tend to take every buy and sell signal an indicator shows, and this is the last thing you want to be doing. You need to incorporate chart settings and watch the trend. The key for the trader is to use them in conjunction with proper trend analysis. One of the benefits in learning indicators and oscillators the correct way is that the charts help you to trade with less risk.
FX spot traders need to realize that the indicators are not doing anything wrong. chart indicators do what they are programmed to do. try to learn and use a single moving average and CCI, or Stochastic, you should try to use indicators in your strategy to find the consistently to trade with. When prices are trending down, we want to find a shorting opportunity when prices are high, and the reverse is true when going long on a trade. make sure to have a stop system created for use on daily or longer term charts, but can easily be used for intraday trading as well. you should always use stops.
Traders need to the use of technicals, and lastly reading and interpreting the forex spot charts. You will make money trading the spot markets but need to be prepared before you enter a trade. The main thing you must remember is that whenever you are trading, you must prepare for an adverse move and protect your capital. The use of stops and understanding fundamental data, such as the currency pairs and allocation of interest in the different spot forex pairs.Trading spot forex
