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Expert:
John Roman
Hosted by:
LegacyFX
Registered Users: 0
- Forex
- CFD
- Technical Analysis
- Intermediate
- Advanced
There are some building blocks that every trader needs to understand. These are your foundation to success. These concepts are important to understand and interpret price action. These key elements help you build a roadmap so that you do not get lost and just like a roadmap the more details you add the more successful your trip will be. These concepts have been divided into 3 classes ranging from charts to trendlines and support and resistance.
To achieve success in today's forex, CFD and trading arenas, one must be proficient in reading and more importantly understanding chart patterns and basic technical indicators. In this class, we will learn just a few basic points to help your understanding of technical analysis and chart reading. If you think of your chart as a roadmap to success. The more detail and the better your read the charts the less likely you are to get lost.
Price reflect the perceptions and action taken by the global speculators. It is the tug of war between buyers and sellers in the trading pit that creates price movement. Meaning that all fundamental factors are quickly discounted in price. By studying the price charts, you are indirectly seeing the fundamental and market psychology all at once - after all the market is feed by two emotions - Greed and Fear and once you understand that, then you begin to understand the psychology of the market and how it relates to the chart patterns.
Be aware trading carries risk and not all strategies or rules work the same every time or have the same results for each trader. You should always understand your risks.
John Roman John is an active trader and educator at Investors Trading Academy with an MBA in Finance from New York University. He began trading in 1995 focusing mainly on commodities and options, then transformed into forex investment. His current specialization covers all aspects of forex trading utilizing fundamental and technical analysis, namely chart pattern analysis. Mr. Roman has conducted training seminars on all over the world from novice to innovative strategies. He provides a solid, collaborative and extremely encouraging training atmosphere to assist Forex traders in locating and trading momentum moves, using confirmed patterns and methods.
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