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I have traded the foreign exchange for more than five years now, and I have boiled down all the indicators that I have tried into my top three foreign exchange indicators. Real quickly before I get into the indicators, I want to give newbie investors some advice. There are all kinds of tricks and gadgets out there in the Forex market. There are more indicators than you could ever try in a lifetime, and you will be tempted to jump from indicator to indicator. My words of advice are this-don't do it. Don't be looking for the next best thing. Don't jump from indicator to indicator hoping to find the perfect one that will make you money 100% of the time. These three indicators will give you the basis for everything that you need to make money if you want to manually trade the foreignexchange. Indicator #1: support and resistance Support and resistance are price levels that have been reached in the past where the market turned around. There is a reason that the market turned around at that price level. Perhaps the price was going up, reached a resistance level, and then fell back down, or maybe the market was going down, reached a support level and went back up. In either case, a level was reached at which the market turned around. The next time the market reaches this level, there is a great possibility that the market will turn around again. Or if the market completely blows through these levels, then that is an indication that there is extreme momentum in the market and that the price will continue to move in the direction that it broke through the level. Indicator #2: moving averages Moving averages visually smooth out the price so that you can easily and quickly recognize trends. Trends are your friend, and you will see extreme trends in the Forex market. You want to follow the trends, but to follow them you have to know which way they are going. Most of the time the market does not move in only one direction. Instead, it jumps up and down to get to its destination. Moving averages are great to eliminate this jumpiness, and allows your eyes in your brain to quickly recognize trends so that you can follow them and make very good money. Indicator #3: Fibonacci levels Fibonacci levels are another method used to identify support and resistance in the market. Again, if you can determine where the market is going to turn around, then that is all you need to know to
make huge amounts of money. I won't go into a lot of detail on Fibonacci levels because that would be a whole article in itself. But suffice it to say that just about any trading platform will simplify Fibonacci levels so that you can draw them in just a matter of seconds.
Click here now to learn how to make money in the forex without learning about these 3 indicators. These three indicators are all that you need to make money in the foreign exchange if you have several months to watch the market and learn the market. But if you need to make money in the foreign exchange now, you should invest in a foreign exchange trading robot. These robots are professionally created and monitored by Forex traders, and they monitor and can even trade the market without you being around. They are great for newbie investors and experienced investors alike.
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