Two Forex Indicator: Forex Analysis and Forex Hours
It is essential that a forex beginner become adept in forex indicator analysis before he even start thinking of trading for real. Without the ability to predict forex trends and currency movements consistently, most trades will be costly failures. However, there are still things equally important that a beginner should know and consider. These are how to set-up the best trade parameters and identifying the most profitable forex hours.
Forex analysis helps a neophyte trader develop effective trading strategies. It is essential that he has a good idea what events will prod currencies to move and where the prices will end up in the succeeding minutes, hours and days. Being familiar with fundamental and technical analysis just about completes his forex education. It provides him with the most important tool necessary to set-up the trades that will result in decent profits. However, his strategy will not be complete without knowing how scalping forex leverage works or how he can use the stop gain/loss feature of his software to his advantage. He might be good at forex analysis but he cannot always be 100% accurate. There will be times when the market will move against his position and it will be good to be able to adjust trade parameters in a hurry.
When to trade may not seem very important but it is actually one of the first things a new trader must know about. The reason is simple. There are three forex markets: the European, American and Asian markets. Both European and American markets are characterized by big volume trades and currency fluctuations are frequent while the Asian market is generally considered cold which means that compared to the other markets, not much is going on. The best forex hours, however, will be the period between 8AM – 12 PM EST when the European market is about to close and the American market is just beginning. The biggest volume currency traded usually happens during this period. It is also the best opportunities to earn in forex trading.
Forex analysis helps a neophyte trader develop effective trading strategies. It is essential that he has a good idea what events will prod currencies to move and where the prices will end up in the succeeding minutes, hours and days. Being familiar with fundamental and technical analysis just about completes his forex education. It provides him with the most important tool necessary to set-up the trades that will result in decent profits. However, his strategy will not be complete without knowing how scalping forex leverage works or how he can use the stop gain/loss feature of his software to his advantage. He might be good at forex analysis but he cannot always be 100% accurate. There will be times when the market will move against his position and it will be good to be able to adjust trade parameters in a hurry.
When to trade may not seem very important but it is actually one of the first things a new trader must know about. The reason is simple. There are three forex markets: the European, American and Asian markets. Both European and American markets are characterized by big volume trades and currency fluctuations are frequent while the Asian market is generally considered cold which means that compared to the other markets, not much is going on. The best forex hours, however, will be the period between 8AM – 12 PM EST when the European market is about to close and the American market is just beginning. The biggest volume currency traded usually happens during this period. It is also the best opportunities to earn in forex trading.
