Some Experience about successful trading methods
Over the last 7 years we have put in thousands of hours of research and development to refine our trading methods. Our trading methods have been tried and are functioning successfully. They work for us but we cannot guarantee they will work for you. There are many trading systems available in the market, most of them are mechanical and are based only on a combination of indicators, and although they make money for traders, the number of successful trades varies between 35 and 75 percent.
By understanding the market sentiment and by using chart and candlestick patterns, losses can be minimized. What we attempt to do in this book is to take trading methodologies to a higher level by using a combination of chart and candlestick patterns with technical indicators. There is no single strategy that works successfully every time.
You need to use the strategy appropriate for the market conditions. The majority of the technical indicators tell traders what has happened and are considered lagging indicators while chart and candlestick patterns predict what will happen in the immediate future and can be considered as leading indicators.
Trading is approximately 20% technical and 80% psychological. With the psychological side of trading, it is important that you understand the sentiment of the market and have good money management skills. To teach this would take hundreds of hours, this can only be successfully gained by hard work on your part.
The main aim of this website is to go through the basics of Forex trading and to share with you our trading experience and knowledge in the hope that you can use it for your own success. We cover the “Big Picture” and go through the building blocks, finally putting it all together.
In this website we focus mainly on the use of candlesticks as the trend is towards the use of candlesticks over the use of conventional bars. More and more chart are moving over to using candlestick charts as they are easier to read and candlesticks in combinations provide critical information on what the market is going to do. When the traditional candlestick patterns are combined with Western analysis, they add an extra dimension to conventional chart analysis. So hope you will understand what you do now. Be with pipschart.com topics as well as video tutorials.