Advanced Technical Analysis - are you getting the most from your e-FX toolbox?

First Published: e-Forex Magazine 23 / Traders Workshop / April, 2006

There is a mindset that permeates my personal forex trading. It is recognize, react, and repeat. These goals are only achievable through chart study and flexible order execution. The common fallacy is that there needs to be some “new” study or “new” order execution capabilities to accomplish this specifically in the forex market. Trading the forex market is not unlike trading stocks or futures; however there are the challenges that can only be presented by a market that trades 24 hours a day.Almost any technical analysis tools can be an asset to trade set up if it is used in the proper market environment. Failing to do this is often why so many traders fail in their pursuit and continued use of technical analysis. There are plenty of charting providers that offer both entry-level and advanced charting and technical analysis.The trend however seems to be to access these services from execution platforms. This can be problematic as some brokerages, certainly well equipped to...continued

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