Can I trade from home? | ForexGen

Trade With ForexGen

from anywhere If you like to travel, this is a dream business.

Take your laptop with you

and you can trade the FOREX and make money anywhere in the world where you have an internet connection.

You can be on the white-sand beaches of Guadeloupe (My country).

You have total freedom of location.

FX Trading is not bound to any one trading floor and is not centralized on an exchange, as with the stock and futures markets.

The FX market is considered

an Over-the-Counter (OTC) or 'Interbank' market, due to the fact that the entire market is run electronically, within a network of banks, continuously over a 24-hour period.

Protect Your Self

Before we go any further we are going to be 100% honest with you and tell you the following before you consider trading currencies:
All forex traders traders LOSE money on trades
Ninety percent of traders lose money, largely due to lack of planning and training and having poor money management rules.
Trading forex is not for the unemployed, those on low incomes, or who can’t afford to pay their electricity bill or afford to eat.
The Forex market is one of the most popular markets for speculation, due to its enormous size, liquidity and tendency for currencies to move in strong trends.
Many traders come with the misguided hope of making a gazillion bucks, but in reality, lack the discipline required for trading. Most people usually lack the discipline to stick to a diet or to go to the gym three times a week.

Types of Trading Analysis

There are 2 types of analysis you can take when approaching the forex: Fundamental analysis and Technical analysis. There has always been a constant debate as to which analysis is better, but to tell you the truth, you need to know a little bit of both.
Fundamental analysis:
Fundamental analysis is a method used to evaluate the worth of a security by studying the financial data of the issuer. It scrutinizes the issuer’s income and expenses, assets and liabilities, management, and position in its industry. In other words, it focuses on the “basics” of the business.

Technical analysis

Technical analysis is a method used to evaluate the worth of a security by studying market statistics. Unlike fundamental analysis, technical analysis disregards an issuer’s financial statements. Instead, it relies upon market trends to ascertain investor sentiment to predict how a security will perform.If you want to use technical analysis to help you make an investment decision, you will refer to financial charts, tables and ratios found in the financial press.
Technical analysis can be conditionally divided into some main parts such as:
Types of charts.
Graphical methods.
Analytical methods.
Technical indicators.

What is a Candlestick?

While we briefly covered candlestick charts in the previous lesson, we’ll now dig in a little and discuss them more in detail.
Back in the day when Godzilla was still a cute little lizard, the Japanese created their own old school version of technical analysis to trade rice. A westerner by the name of Steve Nison “discovered” this secret technique on how to read charts from a fellow Japanese broker and Japanese candlesticks lived happily ever after. Steve researched, studied, lived, breathed, ate candlesticks, began writing about it and slowly grew in popularity in 90.
Candlesticks are formed using the open, high, low and close.
If the close is above the open, then a hollow candlestick (usually displayed as white) is drawn.
If the close is below the open, then a filled candlestick (usually displayed as black) is drawn.
The hollow or filled section of the candlestick is called the “real body” or body.
The thin lines poking above and below the body display the high/low range and are called shadows.
The top of the upper shadow is the “high”.
The bottom of the lower shadow is the “low”.

Candlestick Chart Terms

Candlestick chart patterns are very popular in forex trading because they are the main part of technical analysis. On all chart modules, users can toggle between line, bar and candlestick chart view.
The candle consists of two parts: the body and the shadows. The body reflects the open and closing price for the certain period. The candle body is black if the close price below the open, and white if the close was higher than the open for the period. The candlestick shadow reflects the intra-period high and low prices. (Note: In candlestick charting the following periods are often used; 5 min, 15 min, 1 hour, daily and weekly). Long shadows, show that the trading extended well beyond the opening and/or closing price, while short shadows, show that trading was confined closely to the open and/or closing price.

ForexGen Putting It All Together

In a perfect world, we could take just one of these indicators and trade strictly by what that indicator told us. The problem is that we DON’T live in a perfect world, and each of these indicators has imperfections. That is why many traders combine different indicators together so that they can “screen” each other.
We urge you to study each indicator on its own until you know EXACTLY how it reacts to price movement, and then come up with your own combination that fits your trading style. Later on in the course, we will show you a system that combines different indicators to give you an idea of how they can compliment each other.