Wednesday, October 7, 2009

Understanding Forex Statistics

Once you become somewhat familiar with how the forex market works, and you understand to a point what is involved in trading on the Foreign Exchange Market, you would want to start to gauge market trends in order to profit from your bausiness ventures on the open market.

The name of the game is statistics, and the first rule is that you must be aware there is no such thing as a sure thing on the forex market. While you can never be 100% sure at any given time of the next move that will be made on the market as a whole, being able to read statistics and interpret them will place you ahead of the pack in regards to “guessing” what will happen next.

Forex trading is a lot like gambling. If you can keep track of the cards that have already been played, you are more informed, statistically, regarding what is likely to be dealt next, meaning you can place a bet with greater insight than someone who has no clue what has already been played. With the forex market, if you have information as to what has already occurred over the past few days, months, or even years, you are again placed in a better position to more logically conclude what will happen next. You simply learn the pattern and follow it to the end, reaping the financial rewards.

Charts And Chartists

Wait, did you think you were going to have to research and map out the market’s past all by yourself? Of course not! There are people who get paid to do that sort of work. They monitor the market hourly, daily, weekly, monthly, and yearly so that they can provide big-time traders with the same knowledge mentioned before. The more a trading company knows about the market, the more money they can make.

The best part of this is that you have access to the same information as these VIP clients. Chartists, who are essentially market analysts that publish their findings in easy to read charts, produce what is referred to as a candlestick charts. These charts are basically a combination of a line graph and a bar graph that show the trend of various stocks, indexes, or other interests over a specified period of time. Therefore, you can easily determine if the currency is on an uptrend or if it is taking a downturn, when the last major change occurred, and how long it is predicted that the currency pair will continue on the current path.

If your broker does not supply you with these charts, then you should easily be able to draw them yourself with the modern day charting software or trading platform that you get from your broker. These software platforms can draw most charts for you by entering a couple of parameters and viewing the result.

It is recommended however that you learn at least the basics of charting and statistics before you start trading live.


by:http://www.forextipsandtricks.com

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19 comments:

Ocim on October 8, 2009 at 11:21 PM said...

thanks for info, i dont understand about this

netmild on October 8, 2009 at 11:26 PM said...

nah ini dia gw penegn belajar forex tapi koneksi internet masih pake dial up..

sebenernya mantaf nich maen forex

mas doyok on October 8, 2009 at 11:42 PM said...

semangat yah mas.. gue juga dial up :D

tubir on October 9, 2009 at 12:15 AM said...

@ocim sama saya juga masih beljar.. foorex..
Netmild@ ... iya ane rasa juga gitu.... ente punya sahabat yand dah jago forex gak? kasih inponya ya

Masdoyok@ ane pake internet kantor... hehehehhe.. jadi bloem berani kalau main forex.. thank semangat nya

Dwi on October 13, 2009 at 7:45 PM said...

info bagus sobat, asik juga maen forek

Rihar Diana(dhana) on October 13, 2009 at 11:49 PM said...

salam sahabat
makasih dah kunjung ya..oh iya biar lebih dekat n saling athu dhana dah follow blog kamu..thnxs..

adsense on October 15, 2009 at 9:24 PM said...

There is no "genius" in these rules. They are common sense and nothing else, but as Voltaire said, "Common sense is uncommon." Trading is a common-sense business. When we trade contrary to common sense, we will lose. Perhaps not always, but enormously and eventually....
http://indiannstockmarket.blogspot.com/

akhatam on November 13, 2009 at 11:44 PM said...

Good Info.. But I was not yet can use this system...

Ardiawan on November 15, 2009 at 11:37 PM said...

Hi! Tubir. I like your blog. Visit my blog. Thanks.

Firex Santos on November 15, 2009 at 11:41 PM said...

thanks for many information bro...

Cici on November 15, 2009 at 11:45 PM said...

Forex trading is the real online business!! Like this!

secangkir teh dan sekerat roti on November 16, 2009 at 6:30 PM said...

belajar forex ah!
dari pada ketinggalan!

belajar ngenet on November 18, 2009 at 1:21 AM said...

weks....... aq belum mampu nih kalo soal forex memforex

Kang marno on November 22, 2009 at 10:53 PM said...

Forex kaya perdagangan bursa berjangka . jual beli dolar. apa bukan ?

kunizzul on December 6, 2009 at 9:38 PM said...

bagus gak main forex ni...^^

Metalda on February 5, 2010 at 9:50 PM said...

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

Lucy

http://forextradin-g.net

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