Tuesday, 26 July 2011
How to Make Money Forex Trends
Identifying and taking advantage of changes in foreign exchange and models is the way most forex traders make money. Your main goal when you are trading on the forex market will be to identify a trend as it is formed and jump so you can benefit from it.
Trends are easy to see with hindsight when you look at a painting. A candlestick chart shows them as clearly, but you can see on any chart type.
If you draw a line above the low points of the candlestick out of the shadows while prices are generally rising, you will see the slope of the trend. Similarly, if you draw a line above the strengths of the shadows while prices are generally falling, you will see the slope of the trend.
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