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On the technical side of Forex trading, the first thing to do is to find out the trend in one?s trading time frame and the proper trading strategy for that trend. Some ride positions for months, while some ride positions for less than an hour or a day and their views of the trend obviously differ. For a trader who is running a position for months, a daily fluctuation may be just a meaningless noise while for a daytrader or an hour trader, a daily fluctuation could be a monstrous tsunami. Having a precise definition and a technique of identifying a trend and the turn of a trend in a trader?s time frame, and adopting the right strategies for that trend is the first elementary step in a hard school of trading. Imho.
I keep my technical side on any pair as simple as possible largely relying on other?s moves to see how I can take advantage of the situation. So for me the strategy is to "range trade". Please always give stop order per your risk profile when you open any new position. Medium-term reversals can be confirmed only in monthly, weekly and daily charts. Chart reading is not to predict the tops or bottoms of any move, but to confirm the change of trend as soon as they are made and adopt right strategies in that new trend. Good trades.

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Any broad-based economic conditions can cause a sudden and dramatic currency price swing if such conditions are seen to be changing. This is a key concept because what drives the currency market in many cases is the anticipation of an economic condition rather than the condition itself.

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If you take the time time to learn the art of forex trading you can potentially earn $3,000 or more per month by working about 4 hours per day. Forex trading can be the best home based business you can dream of.
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Forex money management is where most traders go wrong in almost all cases leaving only a few as the winner at the end of the day. Money management and discipline of mind is what makes or brakes a trader at the end of the day, not the elementary entry and exit method.

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