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Beginning Forex - How Are Lots Traded & What The Heck is a PIP?
If you are new to Forex, no doubt you are confused by all of the
strange and unfamiliar terminology. For example, what is a pip?
Also, you are probably already aware that Forex trading can be
risky. How can you limit your loss and best protect...
Forex broker involvement optional
To trade on the forex market, the largest financial market on the planet, one must use a forex broker. Not unlike a stock broker, a forex broker can also makes suggestions about which moves to make when exchanging foreign currency. Some forex...
Forex Day Trading
Are you ready for some excitement? With Forex day trading you'll be in for a fun ride with lightning-fast trades, super-quick results and huge returns possible. The Forex market is open 24 hours giving an investor unprecedented opportunities to...
Three Reasons Why Forex Trading Is Great.
As a Forex trader you will always be attempting to make more
profits than losses from the fluctuations of exchange rates
between currencies in the forex market; in short, this is what
is called forex trading. The good news is that nobody is...
What's Fibonacci Forex Trading?
Fibonacci forex trading is the basis of many forex trading systems used by a great number of professional forex brokers around the globe, and many billions of dollars are profitable traded every year based on these trading techniques.
Fibonacci...
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Forex Trading And The Characteristics Of Bar And Candlestick Charts.
There is a very important factor that you should consider with
great care if you are willing to become a successful and
profitable Forex trader. This always important tool; in other
words knowledge, that should be always present in your trader's
portfolio, is the ability to read the charts.
There are two charts that are the most common types of price
charts used in Forex trading, these are the Bar Chart and the
Candlestick chart.
Here are the main characteristics of each of them:
Bars Charts - Price bars are a linear representation of a period
of time, and this period will depend on the intervals of time
you are interested on viewing and analyzing in the chart. This
enables the viewer to see a graphic representation summarizing
the activity of a specific time frame. For example they can be
one minute or five-minute time intervals depending on the system
you are using. Each bar has similar characteristics no matter
the time interval and tells the viewer several important pieces
of information about how a particular currency pair is behaving.
First, the highest point of the bar represents the highest price
that was achieved during that time period. The lowest point of
the bar represents the lowest price during the same period.
Regular bars display a small dot on the left side of the bar
which represents
the opening price of the period and the small
dot on the right side represents the closing price of the period.
Candlesticks - Japanese Candlesticks, or simply Candlesticks as
they are most widely known now, are used to represent the same
information as Price bars. But they differ in how the gap
between the open and close form are represented. These two
prices form a body of a box which is displayed with a color
inside. A red color means that the close was lower than the
open, and the blue color represents that the close was higher
than the open. If the box has a line going up from the box it
represents the high and is called the wick. If the box has a
line going down from the box, it represents the low and is
called the tail of the candle. Many interpretations can be made
from these "candlesticks" and many books have been written on
the art of interpreting these bars. Many experienced traders
highly recommend this kind of chart over the bar charts for the
great amount of information they give with a single view.
About the author:
Adrian Pablo is a freelance writer with articles published in a
number of places. Get a free report on Fibonacci Trading and learn
more about the world of trading, visit the website: http://www.1-forex.com
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