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21 Candlesticks Every Trader Should Know by Melvin Pasternak
21 Candlesticks Every Trader Should Know by Melvin Pasternak
Forex Trading – Foreign Exchange Course
You want to learn about Forex?
Foreign exchange, or forex, is the conversion of one country’s currency into another.
In a free economy, a country’s currency is valued according to the laws of supply and demand.
In other words, a currency’s value can be pegged to another country’s currency, such as the U.S. dollar, or even to a basket of currencies.
A country’s currency value may also be set by the country’s government.
However, most countries float their currencies freely against those of other countries, which keeps them in constant fluctuation.
Learn the 21 crucial candles, and regardless of whether your time frame is many weeks or several hours, you should see an improvement in your trading success. Why do candlesticks continue to have such strength in the market is an easy question to ask. The simplicity and clarity of the candlesticks themselves—which give traders the capacity to perceive the wider picture—provide the solution. Other charting techniques just can’t compete with the manner that bottom and tops, developing trends, reversal patterns, and continuation patterns all materialize. And Dr. Pasternak has selected the 21 most significant charts from a collection of about 100 charts.
What is forex?
Quite simply, it’s the global market that allows one to trade two currencies against each other.
If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit.
If you’ve ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet into the currency of the country you are visiting.
Foreign Exchange
You go up to the counter and notice a screen displaying different exchange rates for different currencies.
An exchange rate is the relative price of two currencies from two different countries.
You find “Japanese yen” and think to yourself, “WOW! My one dollar is worth 100 yen?! And I have ten dollars! I’m going to be rich!!!”
When you do this, you’ve essentially participated in the forex market!
You’ve exchanged one currency for another.
Or in forex trading terms, assuming you’re an American visiting Japan, you’ve sold dollars and bought yen.
Currency Exchange
Before you fly back home, you stop by the currency exchange booth to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed.
It’s these changes in the exchange rates that allow you to make money in the foreign exchange market.
Salepage : 21 Candlesticks Every Trader Should Know by Melvin Pasternak
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