Knowing Your Forex Charts of Forex Trading Money

The best way to make money? That’s the age old question everybody’s been searching the answer for, but you know the ultimate best way to make money? It’s to inherit a billion dollar from your parents or win the lottery. That would be nice, but unfortunately the probability of that happening is a hundred million to one.

There is a sure way to make money without putting your hope in winning the unsure lottery or even the unsure money from your parents and that way is trading in the exchange, whether it’s stock or currency. Currency exchange or in the business community they’re called Foreign exchange is nice way to make money without even getting out of bed.

All you need to do if you want to get in Forex is a deposit of a large amount of money, preferably around $1000 to $5000, that’s to kick off the exchange. Next, is to find a good and trustworthy broker to bring you the gain and/or profit that you so desirably need. If you’re the type of people who likes to monitor your own money and find out how much you’re making, then the logical next step for you is to get a good capacity PC, a bunch of monitors and a solid connection.

When you learn the basic teaching of Foreign exchange, you have to know and this is serious, you have to actually know what you’re looking, that means learning the charts in the trading.

Candlestick Chart

That’s the little graphic that looks like a vertical bar, filling the chart, now in the candlestick chart there are this colors that signal the gain or the loss, for instance, if the inside of the candlestick shows a red color, that means that the closing point is so much lower than the opening point and that goes the same as the blue or green in some charts, which means that the closing point of the chart is so much higher than the closing point. 

Now, on the top of this candlestick, there are these line called, wick and tail. Wick is on the top of the candle bar which exemplify how high the exchange and visa versa with the tail which is on the bottom of the candlestick.

Price Bars

It’s very weird for a name, because in reality, it’s more of a line than a bar. This line of the charts which happens periodically, for those who doesn’t know what periodically means, it means that this bars or lines or whatever it is happens every 5 minutes, 10 minutes, 15 minutes, depending on each computer system, cause this line and the chart for that matter, is streaming live (well, duh). The meaning of this line is so simple, when the line goes up, that means the point and the gain goes higher when it plunges means it’s in the low point, it’s that simple. 

Now in this price bars, there are these dots, left dot means that’s the opening point of the market and right dot is the closing port of the market and that means it’s quitting time and go get some beer to celebrate your profit.

Incoming Forex terms:

forex chart what are the line means

forex charts

Knowing chart

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