There are two primary ways to become a more successful Forex trader - to practice, and to learn about the industry. At DailyForex, our goal is to simplify your trading so that you can trade easily and smartly. To this end, we offer you a collection practical articles written by our Forex experts to help maximize your trading success.
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J. Welles Wilder’s Relative Strength Index (RSI) measures the strength of the currency pair against its history of price change by comparing the number of days the pair is up in price to the number of days it is down. Values range from 0 to 100.
In this week's DailyForex blog review, I will be reviewing a Forex blog that is really more like a full fledged website if I am judging by its professional level. The OANDA Forex blog is upated frequently with relevant content, the site is designed professionally, and the writing itself is on a very high level.
Did you ever buy during a breakout or a pullback in a solid uptrend only to see price reverse on you, taking out your stop? Or sell when you were sure the price was ready to move down from a resistance level only to then watch as it reached new highs?
Yesterday’s Asian open although almost a distant memory for most FX punters may be worth a secondary review, not least because the price action demonstrates how volatile FX can be at any given time but also serves to remind us of the importance of retaining discipline in our trading no matter what the reason or excuse behind validation of seemingly inexplicable gyrations.
In this week's Forex blog review, I will be reviewing Forextradingblog.com. The site is maintained by Mike Conlon, who also writes and maintains the MyWealth.com/blog website, both very informative, professional, and relevant Forex resources.
One of the many advantages of trading Forex as opposed to other markets is the lack of necessary prerequisites. You do not need any sort of license, expertise, or even a large bank account to get started.
The Relative Strength Index (RSI) is a momentum oscillator, which is used for technical analysis in the forex market. Momentum oscillators such as RSI are usually used in a ‘sideways’ or ‘ranging’ market, where the price moves progressively between the support and resistance levels.