Wednesday, May 17, 2006
Online Forex Trading - Learn Forex trading and how to analyze market to place trade
During yesterday's session to learn forex trading, we went throgh 2 terms -
1. Fundamental Analysis
2. Technical analysis
Fundamental analysis in the world of online forex trading refers to government and world happennings like banking policy, government decisions, Non farm payrolls etc. For. e.g. if US government decides that they will import more oil from Canada, the value of USD will decrease and Canadian dollar will strengthen.
Technical analysis in the world of online forex trading is where your market charts come into picture. This is the place where you need to be aware of various indicators to understand which direct is market heading and which direction will it be gheading from here on. During this analysis, a person uses a combination of parameters. We shall go in details of these indicators in subsequent sessions to learn forex trading.
My experience has been that you need to combine technical analysis and fundamental analysis before placing a trade in world of online forex trading. Because it may happen that you did a technical analysis and are dead sure that the market will go in the direction you have predicted. As soon as you placed the trade, you found that market in the other direction because a just announced government policy made the currency pair move in different direction.
So, always combine fundamental and technical analysis before you place a trade.
Now let me tell you a resource for free charts -
Click here to access free charts for online forex trading
Also, on that site you can find schedule when key announcements will be made.
So thats today's session to learn forex trading in the world of online forex trading
1. Fundamental Analysis
2. Technical analysis
Fundamental analysis in the world of online forex trading refers to government and world happennings like banking policy, government decisions, Non farm payrolls etc. For. e.g. if US government decides that they will import more oil from Canada, the value of USD will decrease and Canadian dollar will strengthen.
Technical analysis in the world of online forex trading is where your market charts come into picture. This is the place where you need to be aware of various indicators to understand which direct is market heading and which direction will it be gheading from here on. During this analysis, a person uses a combination of parameters. We shall go in details of these indicators in subsequent sessions to learn forex trading.
My experience has been that you need to combine technical analysis and fundamental analysis before placing a trade in world of online forex trading. Because it may happen that you did a technical analysis and are dead sure that the market will go in the direction you have predicted. As soon as you placed the trade, you found that market in the other direction because a just announced government policy made the currency pair move in different direction.
So, always combine fundamental and technical analysis before you place a trade.
Now let me tell you a resource for free charts -
Click here to access free charts for online forex trading
Also, on that site you can find schedule when key announcements will be made.
So thats today's session to learn forex trading in the world of online forex trading
