For many of us, making money on the FOREX market would be a dream come true, providing both financially independence and a truly flexible schedule.
Consistent gains are possible once you learn the ropes, but only if you actually invest in your FOREX education. So what exactly do you need to learn? Read on to discover the 7 best ways to do exactly that.
7 Must-Know Forex Trading Concepts For Beginners That Will Take You To The Next Level
Find your trading style
When you start trading, the 1st thing to do is to choose a trading style that suits your trading profile. Who you are will determine which kind of method will suit you best. Read on to discover the different kinds of trading styles.
Market Analysis Types
Once you know more about your trading profile, you need to know which type of analysis will best suit your trading personality and time horizon.
Support and Resistance trading strategy
Support/Resistance levels are essential in trading, as they reflect where prices are likely to follow. Check out the resources below to find out everything you need to know about support and resistance levels.
RSI trading strategy
RSI, or Relative Strength Index, is a powerful momentum oscillator that tells you whether a security is “overbought”, or “oversold”. Learn all about the inner workings of this popular indicator with the links below:
Divergences trading strategy
In trading, a divergence appears anytime you see a difference between the price’s evolution and the evolution of the indicator you’re using, thus indicating that a reversal may be soon coming. Learn all about divergences and how to profit from them below:
Ichimoku trading strategy
Ichimoku is a complete trading toolbox, wrapped up in just one indicator! Ichimoku is composed of 5 lines describing an equilibrium situation, it also highlights possible reversals and breakouts. Learn more about below:
Bollinger Bands trading strategy
The Bollinger Band is a highly popular technical analysis technique using volatility to spot overbought and oversold market situations. You can sell when prices touch the upper band and buy when it hits the lower band. Discover everything you need to know about Bollinger Bands below:
Well there you have it, the 7 most essential trading concepts/tools that will take your FOREX trading to the next level. What other trading concepts have been essential to your trading education? Let us know in the comments, and don’t forget to share on FB, Twitter and Linkedin.
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