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5 Tips for Successful Forex Trading from Rayner Teo

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The many forex trading tips that have been delivered at various seminars make beginner traders have little trouble following which trading lessons are the best. Plus, the various types of indicators make traders confused which one to use, starting from RSI, Fibonacci, MACD, and many more. They then wonder which of the many tips that have proven successful to be applied in starting trading. This then made Rayner Teo, a successful trader and founder of Singapore-based TradingwithRayner, share tips on forex trading that have been proven to be "effective" to implement. Consider the following tips: 1. The longer the range of the market, the harder the price to break. When markets are ranging, note that the longer Support and Resistance that fortifies price movements, the more valid these limits are. From this, you can be more sure to make the Resistance Support as an open position reference, or determine the Stop Loss and Take Profit targets. 2. Sideways conditions can be traded i

The Fast Way to Learn Forex for Beginners from Zero to Hero

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How to quickly learn Forex for beginners Broadly speaking, forex trading is a way to benefit from buying and selling currencies that are done online. By depositing a number of funds to a forex company (forex broker) you can trade currencies using the metatrader (MT4) application. In this forex trading you can use two analyzes to determine the direction of currency price movements, namely to analyze technically and fundamentally. Well, in this article there are 19 important points that will be divided into two subject matter namely the basic theory of forex trading followed by trading practice. Keep in mind, you don't need to spend funds to do this forex trading simulation. No capital, no money, all free! How to quickly learn Forex for beginners The easiest way to learn Forex BASIC THEORY OF FOREX TRADING BASICS. 1. Definition of forex, forex traders and Forex trading. Forex is the exchange of one currency with another. In Indonesian forex is also referred to as Foreign Exchange (Fo

Learn about Candlesticks on forex trading

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Still confused about how to read candlesticks? Let's learn candlestick forex again so that our trading results are better. Candlestick is a type of chart that is widely used by traders because in addition to displaying a form that is pleasing to the eye also because the information displayed by the candlestick is quite clear and complete. For beginner traders, usually passionate even busy memorizing the shape and name of the candlestick and its function to determine the direction of the next graph, information that requires you to know the name and shape of the candlestick is indeed not wrong. But also not too true, because with the many forms and names of candlesticks, of course memorizing will be very difficult. Especially for prospective traders whose age is quite advanced, it is certainly not easy to do that. So, what is the best way to understand candlesticks? key candlestick How to understand the candlestick is to read the shape of the candle to find out what power is masteri

Elliot Wave Theory

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Instantly Elliot Wave is a theory created by Nelson Elliot's Ralp which states that chaotic market behavior can still be predicted, the market moves in the formation of a wave that occurs repeatedly. This is because every trader almost always responds in the same way to the same event. During trend conditions, market movements will form 5 waves and 3 corrections. Example of a rising trend: Wave 1: Prices start moving up, this happens because some traders feel it's time to buy, or it's time to return prices. Wave 2: The market starts to saturate and some traders take profit taking so that the price has dropped, but it does not reach the lowest point. Wave 3: Price moves long, because other traders begin to realize that there is a trend, so that they are riding the trend. 4th Wave: Prices are back down because some traders are taking profit taking actions because they think the price is too high and will reverse direction. 5th Wave: Prices go up again because some traders see

History of The Forex Trading Market

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Did you know that the first currency exchange rate trend is a flat trend? This refers to the history of currency exchange rates governed by the Bretton Woods agreement in 1944 which was attended by 92 countries on British and American initiatives. In essence, the Bretton Woods agreement introduced a fixed exchange rate system and the formation of financial institutions that regulate the stability of the world economy, one of which is the IMF. Where one of the provisions of the law stipulates that each member of the IMF must comply with: - Hard currency or strong currency must be associated with a certain amount of gold. In other words the issuance of hard currency must be guaranteed with gold reserves. For example, US dollars, to create $ 35 worth of Federal Reserve Bank (Central Bank of America) must back up with gold worth 1 ounce or 28,3496 grams. Currencies that include hard currency are US dollars, Euros, Pounds Sterling, Swiss francs and Japanese yen. - Soft currency or weak curr

Bitcoin Trading VS Forex Trading

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Bitcoin Trading VS Forex Trading What is bitcoin? Bitcoin is a cripto type of currency (cryptocurrency) which when it is started is widely used for online transactions and trading. The history of bitcoin (from several sources), was discovered by Satoshi Nakamoto in 2009 but it seems that it has only begun to be widely used and traded since 2011. At first Bitcoin emerged as a payment tool to cover the weaknesses of the existing electric payment instruments, where Bitcoin offers advantages in the form of: - transaction costs are very small, almost none - faster delivery process - Anonymous (no need for owner's identity) - High security Why is Bitcoin attractive? 1. Modernization of payment methods Before the presence of bitcoin, if we want to have an online currency we have to do several stages of account verification, so it seems complicated. Whereas having Bitcoin is not necessary. Bitcoin is considered easier and shorter to use for payment. With this "anonymous" nature,

Support and Resistance in Trading Forex

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SUPPORT & RESISTANCE Support is a price level where there is usually a selling pressure that is offset by a purchase, so the price reverses direction. Support is formed by describing a line connecting at least 2 (two) parallel lows. Resistance is a price level where usually buying pressure is offset by an increase in sales, so that price increases can be restrained, even turning backwards. Resistance is formed by describing a minimum of 2 (two highs that are parallel). support A support line that changes function into a resistance line is called the base line or a foothold line. Likewise, the opposite line of resistance that switches functions so support is called the base line. This base line serves as a platform for the market to move further. the limit of 3M the next forex learning material is Elliot Wave