Anonymous
Anonymous asked in Business & FinanceInvesting · 1 decade ago

How can I design a forex trading system based on price action?

I HAVE NOT COME ACROSS AN ARTICLE WHICH DEFINES AND EXPLAINS PRICE ACTION.

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  • 1 decade ago
    Favorite Answer

    I'm not too sure what you mean but here I go...

    Price action in forex is basically governed by supply and demand theory - if there is demand for the currency it goes up. If there isn't price goes down. If there is too much supply, currency goes down and if there isn't enough, currency goes up. That's the simplest explanation - you might want to search around for supply and demand theory.

    Most forex systems are based on price action because most traders use charts - technical analysis which depends on price action.

    Source(s): Forex Trading Log http://www.forextradinglog.com/
  • 1 decade ago

    Price action is based on your experience and choices in trading If you are wanting to trade currencies {Forex} I suggest practise first and follow your own picks or if you have funds to invest and want a good return write to me for more information

    bill67co@yahoo.com

  • Anonymous
    1 decade ago

    Check out Japanese Candlestick.....Want to improve your Trading Strategy ? Dont just improve your technique. Improve also your Trading Strategy. Read more about it as taught by Dr Alexander Elder. Check out this compilation of Forex books. http://www.geocities.com/lcming/Forexbooks

  • Anonymous
    6 years ago

    the best trading software http://tradingsolution.info/

    i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.

    if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.

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  • Anonymous
    7 years ago

    The secret word of trading success is "organized". You can't be successful without a strategy, a plan and some kind of technological support. I use a software called "autobinary signals" that is helping me a lot. There are plenty of them on the market. I recommend this one because it's very easy to use (you don't have to be an expert or have special skills to make money with it).

    Check it out here. It's worth it: http://tradingsignal.toptips.org/

  • Anonymous
    1 decade ago

    Check the website link below for the top Forex trading guides that will take you step-by-step through the intricacies of foreign exchange trading to make huge profits.

    http://money-review-site.com/investment.html

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