As you would know, foreign exchange is the largest market in the world, and the amount traded between the different currencies each day exceeds by far the largest stock market exchanges put together!
Though the concept of forex trading was developed unofficially hundreds of years ago, it is only with the advent of technology that the real forex trade began in the world.
To aid people to trade between currencies, there are several forex theories in existence. For instance,
· Technical Analysis
· Indicators like Relative strength index
· Elliott wave theory
· Numbers sequences like Fibonacci
· Gaps – High-Low and Open-Closing
· Following moving average trends
· Japanese Candlesticks, Triangles, and other chart formations
· And so on…
Depending on your forex broker (or if you learn on your own, depending on your own study), you will use one of these forex theories to trade; and the mistake that a lot of novice traders do is that they use multiple forex theories simultaneously without proper knowledge.
When you are trading online, you need a lot of patience and need a lot of time to learn the ropes. Unless you do that, none of these forex theories can help you make a steady source of income. Or what you can do is you can shift to an online platform to trade. With an online platform or well known software like Fapturbo, you are assured of these forex theories being put into real use by your computer. That is the right decision for a newcomer into the markets to take, as you practically cannot use all these theories in conjunction at the same time. If you try to do that, you will only create frustration for yourself, and lose a bunch of money!
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