Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true. Traders often feel that a complex trading strategy with many moving parts must be better when they should focus on keeping things as simple as possible. This is because a simple strategy allows for quick reactions and less stress.
If you’re just getting started, you should seek the most effective and simple strategies for identifying trades and stick with that approach.
One way to simplify your trading is through a trading plan that includes chart indicators and a few rules as to how you should use those indicators. In keeping with the idea that simple is best, there are four easy indicators you should become familiar with using one or two at a time to identify trading entry and exit points: Read more…..
Chart of the Day
Gold’s reaction to bad economic data continues to be weakness; the precious metal is down almost 1% on Friday. Peter Hug, global trading director of Kitco Metals said that it is only a matter of time before the metal reverts course.