গুরুত্বপূর্ণ সম্ভাব্য ধারণা

Forex Training - Probably the Most Important Lesson of All

By Michael A. Jones - May 2, 2007
Many beginners start out their Forex training by gradually building up a plethora of indicators with charts obliterated with every signal imaginable. No wonder such new traders often freeze with indecision as one signal seems to contradict another.
There is however a very simple indicator, that when fully understood, forms the backbone of all future Forex training and trading! What is it? Before revealing it, guard against a typical reaction such as: “Is that it? I know all about that!” This indicator, due to its simplicity, is often under-valued and insufficient time is spent by new traders in their Forex training sessions really getting to grips with it.

Probably The Most Powerful Indicator Of All
Now, what is it? Support and Resistance! To state it clearly, your Forex training will only start to really move ahead when you fully understand the impact that support and resistance have on market action. Here is a key principle to understand:
Support becomes resistance. Resistance becomes support.
Why is understanding this so crucial? Because the thousands of traders in the global market place, handling billions of dollars for the big institutions, are constantly monitoring where price has been before. If price reached a peak some days ago and has since retraced, that level that was reached becomes a key level of resistance. If you enter a trade anywhere near that level, understand that it will take major buying pressure to get price above that level. Conversely, if price fell to a deep low within the last week or few days, for price to continue on down there is going to have to be intense selling pressure to pass that level which has now become support.

An Interesting Market Behavior Pattern
But now here is an interesting market behavior pattern you must drill into your brain as part of your Forex training: Once price does break through that key level of resistance, it now becomes a level of support. If it is a key level of resistance that is broken, once price has moved on through by 20, 30 or 40 pips, it can become major support. What does that mean for the trader?
It is often possible to enter a trade at an optimal point by simply waiting for price to come back to test that strategic level that was broken. So rather than chasing price and hastily putting a trade in once the market has started to move in a certain direction, wait for price to pull back to that key level that was broken. Put an entry order in at the level and wait for price to pull you into the trade. It may continue in the direction for 5-10 pips putting you in deficit but if you have done your research properly and identified this as a key level using other indicators such as Fibonacci or pivot levels, you need not fear. Price will quickly pull back, cover your dealing spread, and from there on you can enjoy the satisfaction of seeing price move toward your price target.
Time and time and time again the market behaves in this pattern. Exercising patience while you undergo your Forex training and looking out for this particular market pattern can yield huge results. Understanding support and resistance will give you an unbelievable edge on understanding how the market works. This in turn will help you enter and manage your trades to a highly accurate degree with minimal stops and reasonable, reachable targets. Rather than trying to hit the home run by looking at the next key level of support or resistance where price is likely to stall, you can walk away with a reasonable profit by setting your price target accordingly.

Look Under Your Feet
Rather than searching for some complicated, ‘advanced’ trading system, why not concentrate on what is right under your feet. Get to grips with support and resistance. Learn to quickly identify these levels once you open a chart. Draw lines where you can see major support and resistance, especially on the higher time frames, and everything else you learn during your Forex training will fall into place.

Forex Training: What to Look for in a Forex Training Program

By Raul Lopez - October 31, 2005
Should new Forex traders take Forex trading courses or join a Forex training program? Definitely yes; by now you have probably heard that only 5% of traders achieve consistent profitable results when trading the Forex market. The main reason for this is the lack of education. Don’t get me wrong here. Taking a Forex training program or a Forex trading course won’t guarantee profitable results, nothing can, but choosing the right Forex training program or Forex trading course will definitely put the odds in your favor.
Before spending any amount of money on any Forex trading course or Forex training program there are some important aspects you need to take in consideration. There are many training programs available, but not every one of them suits the needs of every trader. The first thing you should be looking at in a Forex training program is the content of the material. Unfortunately, most courses or training programs focus or spend most of the time on basic concepts. Though these basic concepts are important, spending most of the course on them won’t help the trader to make consistent results. The following subjects are what I consider the most important aspects of trading that every training program or trading course should address:

Forex trading basics
Review basic concepts such as: margin, type of orders, a little background, bid/ask, rollover, etc. You need to make sure you understand every single concept to perfection.
Main drawbacks of Forex traders
Being aware of the common mistakes made by Forex traders and knowing how to handle them will prevent new traders from making those mistakes.
Technical and fundamental analysis
These are the two main approaches adopted by Forex traders. Knowing how to properly apply each concept will definitely put the odds in your favor.
The three pillars of Forex trading - I believe these three subjects have the most impact on every trader’s trading account.
Forex trading system development
Having the right system is a must if you want to have consistent profitable results. Having a system that doesn’t fit you will cause a series of problems that will make your trading account vanish away (second guessing the system, not following your system, etc.)

Money management
This is considered by many successful traders to be the most important single aspect of trading. Money management helps to increase your profits geometrically and at the same time limit your losses (i.e. a good risk reward ratio of about 2:1 will make you money in a Forex trading system that is right only 38% of the time.)

Trading psychology
Being aware and knowing hot to handle the psychological barriers that affect every trader decision will put the odds in your favor.
Other important aspects every training program should include are developing habits for success (such as discipline, patience, taking responsibility of every action, commitment, etc.,), treating our trading as a business and risk and trade management.
Another important aspect you should take into consideration when choosing a Forex training program is the mechanics of it, getting to know how the training program works. A good course will have the following:

1. A live conference room, where you can apply everything learned under live market conditions.
2. One-on-one feedback - every trader has different needs and requires special attention. For instance a trader wanting to improve the system and requires individual feedback from the instructor about it.
3. Online trading course - a course that could be accessible through internet. A plus is a course where you are able to access the course at the convenient time for you, so you don’t have to change your lifestyle.
4. A forum, where members can just talk about everything related to the Forex market and the Forex training program.
Trading the Forex market is no easy task. It requires a lot of hard work. Making the right decision on training will definitely put the odds in your favor. Take your time doing your due diligence because it is a big and important step in a trader’s trading career.