The Unrivaled Power of FX Com in Forex Trading

Fx com, known to many as an essential tool for those who trade in foreign exchange markets, has become increasingly popular due to its efficiency and user-friendly interface. As a leading provider of forex trading solutions, FX com offers an array of features and tools that helps users to make informed decisions.

The company prides itself on providing an intuitive interface that is easily navigable, irrespective of the trader’s level of experience. It offers a comprehensive platform that optimizes trading by providing live data feeds, market analysis tools, and trading automation.

One tool of FX com that universally appeals to users is the availability of various indicators. These indicators are integral in predicting future market behavior, and thereby, assisting traders in making prudent trading decisions. Out of myriad indicators provided by the platform, most traders are in constant search for the ‘best day trading indicator’.

The phrase ‘best day trading indicator’ implies the most effective gauge that determines the probable trajectory of forex values over the short duration of a day. These indicators often incorporate aspects such as price trends, volumes, and historical data. However, it’s important to note that there’s no ‘one-size-fits-all’ indicator and its selection is primarily dependent on the user’s trading strategy.

Some of the popular indicators used in day trading on FX com include the Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), and Bollinger Bands. Their use and effectiveness vary according to the current market conditions and the asset being traded.

MACD helps in identifying changing trends enabling the trader to either buy or sell. Whereas, RSI measures the speed and change of price movements, helping the trader get an idea about overbought or oversold conditions. Bollinger Bands, on the other hand, provide volatility bands positioned above and below the moving average of an asset, enabling the trader to identify the volatility of the market. Depending upon the user’s approach towards risk-taking, they may choose the indicator that aligns the best with their trading preferences.

Despite the named indicators, sighting a single one as the ‘best day trading indicator’ might not be entirely right. The market trends are variable, and they differ from day to day. It’s essential for a trader to understand the working of each of these indicators and choose the one that fits their strategy and the ongoing market trends. As pointed out earlier, some indicators do well in a volatile market while others work best in a market that is less volatile.

In addition to these features, FX com comprises a well-versed customer support to assist users with any issue they may deal with while trading. The company believes in promoting an environment of growth and knowledge, thereby running regular webinars and courses to enhance the users’ trading skills.

To conclude, FX com is a versatile platform that appeals to both novices and seasoned day traders alike, owing to its all-inclusive features and tools. The question of the ‘best day trading indicator’ is subjective, and the traders must endeavor to comprehend their functioning to be able to leverage it successfully. Evidently, FX com, with its seamless user experience and superior service, is an exceptional choice for Forex traders worldwide.

The Forex market is the world’s leading financial asset which contributes around $3bn per day. Along with this, the market is open 24 hours with traders taking part from all corners of the globe. This is why the rapid growth of the Forex market cannot be ignored. With advances in technology and hardly any limitations to web access, it is now also a lot easier to trade Forex from home and if it is traded correctly, it can be very lucrative.

As with anything however, there is always going to be a selection of individuals who will try to run before they can walk and try to make as much money as possible through this channel. Unfortunately, if individuals wish to make a living from trading Forex they must include a Forex training schedule which will help them to achieve their goal. There is a huge number of Forex trading strategies available for people to learn and once these trading strategies are adapted to the way each individual prefers to trade, those goals become a lot easier to achieve.

Trading can be very difficult but the key is that it is available to everyone. There are such a large number of trader types out there; ranging from ‘2 hour per day’ traders to those that place around 200 trades per day. They all have their own Forex trading strategies which they acquired through Forex training and they also have their own success rates moulded to their lifestyle. The point is that trading is not something to joke about. It should be treated with respect and considered as a real term of employment. If any trader starts things differently, it is likely they will fail in the long-run because the market cannot wait to eat up their capital.

Forex training comes in various shapes and sizes. The common misconception is that all you need to do is read a book and you are ready to trade. The truth is completely opposite. Whilst books can be a fantastic tool, Forex training should include real access to live markets where a student can analyse market behaviour. Seeing your own Forex trading strategies at work will teach a student so much more rather than simply reading from a book.

Despite the difficulty level of becoming a successful trader the point to bear in mind is that trading and Forex training is accessible to everybody. All you really need to get started is a computer and access to the internet. The required software and trading platforms required for trading are all supplied by the broker that traders sign up with.

In simple terms, the mistake of thinking you are good enough after reading a few books or looking at the market for a few hours should be totally avoided. Almost every person that does this fails and those that don’t are simply lucky. Relying on luck is not the way to trade. It is Forex training and the execution of proven Forex trading strategies that are the driving force behind success. They are there to be used by all so there is nothing to lose by trying them out.

Submitted by: Dragan Lukic

In this

Forex trading course

segment we will focus on a candlesticks which Forex traders see on a daily basis; the hammer. Throughout your

Forex training

you will also come across this type of candle line so an understanding of its characteristics and how they can be used in your Forex trading strategy is essential.

The Hammer

Due to its shape that consists of a head and a handle, the hammer has logically acquired this name. Simply put, a hammer is a candlestick with a long lower shadow and a close near the session’s high. The session can be in any time frame such as 1 minute, 2 minutes, 1 day etc. The real body makes up the upper part (with the close near the session’s high). The actual colour of the real body does not matter. However, some Forex traders do consider a hammer to be more bullish if the real body colour is white.

In your Forex trading course you will learn that the hammer’s long shadow also plays an important role when analysing the state of the market. The long shadows mirrors the fact that the market experienced a sell-off or a decline during the day but then the bulls gained control and closed the session off near the session’s high. Note that unless the shadow is double the height of the real body, the candle you are looking at is not a hammer. At the same time, if the candle has a long upper shadow the Forex market is telling you that the session has closed well of its highs and therefore that candle is not a hammer. This is a concept that you must focus on during your Forex training.

Also note that a hammer only appears at the end of a market down-trend, not an up-trend. For example, if you are analysing the Forex on a daily chart and spot a candle with features as described above, you have found a hammer. This is the point where the bulls start to gain control. When we think about it, the fact that the bulls have gained control and closed the session of near its high, we logically assume that the market is prone to changing; and rightly so. However, do not make the mistake of investing your money just because you have seen a hammer. Other chart characteristics are necessary to do this but spotting the hammer is the first step. A hammer does not mean that the trend will change direction, it means that the trend is prone to change. The trend may even pause for a few sessions while it builds up more power and continue in the original direction. If you have invested your money into the trend reversing upwards, this is the point where you need to exit the trade straight away.

Throughout your Forex trading course you should really pay close attention to this symbol but do not take it for granted. Whilst the correct analysis of the hammer, coupled with other Forex trading techniques can deliver fantastic results, equally a lack of attention, focus, analysis or even respect for the hammer can lead to substantial losses. If your analysis proves to be incorrect, you must ensure that you exit your trade to protect your investment. Simply, analyse more charts, try to spot the hammer and paper trade the Forex i.e. pretend to trade with money.

About the Author: Forex Training Worldwide train people around the world how to trade the Forex through our online

Forex trading course

. If you want to know how our

Forex training

can help you make money from the markets please visit the Forex Training Worldwide website.

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