7/26/2008

Forex Step by Step

1- First of all, you should know what is Forex, Margin, Spread and leverage, and the idea of buying and selling thus to know Forex as profession.
2. After you recognize all these concepts and programs of trading companies and chart you may wanna know, you must know the best programs and learn how to manage them.
Don't move to the second stage of technical analysis unless you learn how to handle two types of programs: exchange program of at least one company - I advise you with fxcm, because it is easier, the other is the chart program and how to put pointers and indicators on, here I advise you with the stronger MetaTrader.




3- After learning how to deal with such programs, move to the stage of technical analysis, this kind of analysis is divided into two kinds:
-- Technical indicators:
These learned one by one, don't leave indicator to another until you have some training on it, and know entry and exits signals, it's settings and it's classifications - for example, stochastic indicator fluctuation and selling points at the top and a plot line and the 80 census, also its used in meta entry in the event of fluctuation … etc.
The indicators in Forex are these:
The Japanese candles, MACD, stochastic, the ADx, the RSI, Momentum, trend lines, lines of support, resistance, Fibonacci, models and models reflective, Bollinger bands, and moving averages of all kinds.
-- Strategies:
It is the science of merge two or more indicators in substantive way to determine the best entry and exit points and Stop,you will get into this stage after you have a good background of the entire indicators on Forex.


4- After the step of strategies, begin to experience and work with demo for a while not less than the 7 months at the earliest strategies you chose to begin trading, do not get into real trading until your trading behaves has been confiscated.


5- Draw a plan for managing your goods, risk management and committ strictly in both of Demo and real states.


6- Selecting a company to trade through, here I can tell you that after all these steps you will not find it difficult to determine the appropriate company.

7- In this step, you can go ahead with real rational account, that is not all of your wealth, but a extra calculated amount for a start.

1 comment:

Anonymous said...

thanx for this article.