Forex For Beginners – My Favorite 3 Indicators and How To Use Them

Click Link for forex for beginners the first steps http://www.theticketstream.com/forex7 Trading the forex is so much fun. I have been trading for years, and that time has allowed me to really grow comfortable with my trading indicators. Believe me, I have tried scores of indicators, and I want to share with you the ones that make me the most money.CandlesticksIf you have never traded with a candlestick chart, I really suggest that you do. You can get so much more information from a candlestick chart that you can from a line or bar chart.Candlesticks show you the open, close, high, and low of each time period. You instantly see the large bodies, short bodies, long wicks, and short wicks. Each of these provide a clue to what the market will do next.Support and resistanceSupport and resistance are probably my second favorite indicator. I like them because they don’t lag. Instead, they show you what the market is doing right now.If the price reaches a high or low that the market couldn’t penetrate earlier, then chances are pretty good that the market won’t be able to pass it the next time it reaches that price.I truly believe that if you master support and resistance and combine them with candlestick patterns, then you have everything you need to make money consistently in the forex.Moving averagesJust to help me out a little in identifying trends and market direction, I also like to use moving averages. If the market isn’t trending, then I don’t want to be trading, and moving averages help keep me out of ranging market. My favorite strategies are trending strategies, but they lose a ton of money in ranging markets. I use moving averages to show me the difference.

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