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Providing a bird's eye view of the constantly shifting foreign exchange market, foreign exchange market charts (also known as Forex charts) are essential to traders looking to optimize their profits by viewing the hottest currency pairs. With hundreds of websites to choose from, it is easy to start navigating through the fluctuating foreign exchange market and to obtain the information necessary to make shrewd Forex market decisions. There are several different types of charts, and the key to beginning a venture into the foreign exchange market is to know which chart will work best for each investor's unique situation. Some of the different types of charts are line charts (the most basic of all foreign exchange market charts), candlestick charts (graphically appealing line charts), and bar charts (also known as OHLC charts). Line and candlestick charts are a great place for beginners to start getting a feel for the Forex market, but they often leave out important information that is available on more intricate bar charts. While there are a variety of free line, candlestick, and bar charts available on various different websites, several of them lack the complex toolsets vital to the serious Forex market investor's needs. Many websites offer professional foreign exchange market charts that provide numerous features for both the novice and experienced trader, such as customizable market alerts, hot lists, enhanced data hibernation, charting and technical analysis, and composite prediction techniques. These features are unavailable in most basic charts, and can provide that extra edge necessary to not only turn a profit, but also feel secure in the fast-paced world of the Forex market. Some charts even have embedded buy and sell buttons, so the savvy financier can make quick trades based on the information they receive through their foreign exchange charts. A common misconception about these charts is that they work based solely on predictive technology; however, this simply is not true. While Forex charting does allow for investors to make predictions based on current trends, it is up to the individual to combine investor psychology with the fundamentals of supply and demand to interpret the charts and make sound financial decisions. Even with an advanced chart utilizing the most complicated algorithms, investors' successes depend on their ability to comprehend the intricacies of the Forex market and to see how those intricacies are reflected through foreign exchange market charts. After all, the market is set by humans, not by any logical scientific method, so an understanding of investor psychology is paramount to interpreting trends displayed by foreign exchange charts. While Forex charts do depend on the investor's understanding of the foreign exchange market, they are vital tools for any entrepreneur looking to begin trading on the Forex market. Without them, an investor simply will not have the up-to-date information necessary to make smart Forex decisions. With a plethora of websites offering everything from a basic chart to a complex graph, getting started with a Forex chart that fits even the most novice trader is an easy and necessary
step to begin navigating the fluid Forex market.
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