The Best Forex Trading techniques for Beginners

Education, Forex Trading, the best forex trading

For anyone who is just starting forex trading, it is important that he or she conducts adequate research  prior to entering the market. It is a known fact that there are no rights or wrongs in the forex market, hence one cannot boast about mastering the best Forex trading techniques. A beginner needs to develop his own unique strategy to approach trading dynamics in the market. This approach should be in synchronization with your Forex trading behavior and your personality. It is also safe to say that the best forex trading techniques are developed over time with experience, as a trader does not learn about the ups and downs of this business unless he is a part of it. But there are a few things that new Forex traders should know which are being highlighted in this article.

Macroeconomic overview

Researching about the macroeconomic trends of the country helps a great deal in developing a good Forex

Technical Trading Update Jan 5 2011

Technical Trading

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The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.

Looking forward to the end of the week, there are some significant news events that could dramatically change the technical trading outlook.

EUR/USD – Current 1.3145

4 hour View – As noted in the last update, a break of the 1.3300 area gave way to the next leg lower and now finding support in the mid 1.3100’s. Significant congestion between

A few Forex trading tips for your consideration

Education, forex trading tips

In a recent survey of about 25,000 Forex traders, who have been involved in this lucrative market for quite some time, some interesting facts came to the surface. It was found that more than  95% of these traders have been constantly losing money on their transactions. To make matters worse, they try to jump from one Forex system to another in an attempt to trade on their gut feelings or they follow some intricate tactic that is not needed. There are a meager 4% of people who consistently make steady profits each day. For them, the days of losses are near to none.

The key to their success lies in following some disciplined tips, keeping their emotions out of it.. These are the few people who sleep well at night, and know that tomorrow will be as profitable as today. A happy life and long vacations are their reality. So, how do you get yourself in this category of traders?

A Few Handy Forex Trading Tips

It is not impossible to join the league of successful traders – the winners’ club. All you need to do is

Derek Frey's Weekly Forex Outlook

Forex Market Updates

Derek
Happy NEW YEAR!  I have to start off by saying how excited I am about 2011.  The first day of the year was 1/1/11 which I find to be very fitting for new beginnings.  I know I have personally committed myself to making not only this next year an incredible one, but the next decade and beyond!

I will continue to post my outlook for the Forex Majors each week here at Forextradersdaily.com.  I sincerely appreciate feedback and or questions about any of my posts so please do not be shy.

The first week of the New Year is starting out a bit slowly which is to be expected.  It will be Wednesday before we see the markets back to “normal” levels of liquidity.  Look for the markets to begin to start to

Daily Trader Outlook

Technical Trading

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EUR/USD – Current 1.3315

4 hour View – Major resistance at 1.3410 area. A break heads back to 1.3500. 4 hour trend has been up but seeing some downside pressure.

Resistance – 1.3360 / 1.3385 / 1.3410 / 1.3470 / 1.3500

Support – 1.3341 / 1.3322 / 1.3303 / 1.3282 / 1.3264

Intraday Opportunities – Next leg lower begins with a break of 1.3300. Above 1.3350 could challenge 1.3385 and 1.3400

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GBP/USD – Current 1.5480

4 hour View – Bears took over after market open on Sunday however