Financial Trend Blog

In an article a week ago “US Dollar Outlook - Dollar to Strengthen Further” we postulated that the dollar would have a good week and so it has proved. Our logic was purely based upon trader psychology NOT the fundamentals or news. This week’s action shows graphically how important trader psychology is.

Always remember this is the equation for market movement:

Fundamentals + Trader psychology = Price

The fundamentals are actually not as important as how investors perceive them.

Every forex currency trader must know how to accurately interpret technical indicators in order to be a successful trader. Being able to consistently interpret currency trading technical indicators is the difference between forex trading success and failure. Moving averages are one of the technical indicators frequently used by forex trading pros. Let’s discover what moving averages are and how they are useful for forex traders.

If you want learn forex trading, you need to get the right Forex education and work smart and you will be able to join the elite 5% who make big profits and avoid joining the losing majority. Let’s look at how to learn Forex trading the right way.

1. You are Responsible

If you think that someone can sell you an e-book or forex trading system and make you rich think again. While you can get good forex education from some sources you can’t follow it blindly.

The turtle story is perhaps one of the most inspiring trading stories ever and if you want to learn forex trading, then you should study how they did it.

Let’s look at it in more detail.

The Experiment

Legendary trader Richard Dennis set out to prove over 20 years ago, that successful trading could be learned by anyone and set out to prove his point.

He took 23 people all with no trading experience:

Male, female, young, old and from a variety of jobs - many of them blue collar and set out to teach these people a method they could use to make big profits.

Using Forex charts is like being a ships captain at sea: Your charts can help you navigate successfully to port or you can hit the rocks and drown - the choice is yours.
It’s the same with forex charts 95% of users drown – Let’s look at common errors that novice traders make and how to avoid them.