Forex encyclopedia

It is an open secret that the most part of freshmen coming to the Forex lose their deposit in their first trading year. Some statistics shows that in percentage terms it is up to 95% from all beginning traders. A bunch of material on technical analysis and recommendations on preservation capital are in circulation and novices primarily focus on studying these works. Forex psychology in their education program is considered an afterthought and fades in the insignificance. In practice, having a good knowledge of Money Management, excellent trading system and serious capital, novices get to lose all their capital.
By technical analysis we should basically understand employment of price chart (and results of its math interpretation) for further market and price forecast. Technical analysis rests upon repeated nature of market and implies that ups and downs of currency quotations on charts are rotated according to certain time periods. An advantage of technical analysis is its universal application: with its help one can research any financial contract for any period of time. The market accounts for everything. That means that any event, which could affect price behavior is already accounted by market and is reflected on the price chart. This proposition means that all factors impacting the price will be definitely reflected in its behavior, therefore, it is required to monitor quote graph.
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Forex encyclopedia
Forex encyclopedia “Clever FX” is the unique service created by FreshForex to introduce world of Forex to traders. The main purpose is to share knowledge of experienced traders with novice traders in simple and convenient form. Every trader will be able to learn something new here. If you are a professional trader, we invite you to write an article for “Clever FX” and get reward. Let's write Forex history together!
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