How to know when a currency pair like EUR/USD is bearish

Forex Trading Nigeria

Home | Live trading | ( 2 ) | Subscribe

Posted by on Thursday March 1, 2012 16:48:36:

One of the good things about Forex trading is that even new Traders tend to get better after making mistakes. There are certain mistakes which people make when trading and after they have experienced it, they tend to get better. There is something is business terms called Learning curve. Meaning that people who are regularly undergoing a process tend to make lots of flaws at the early stage but over time, they get better at the latter stage.
If you are new to trading, it is normal to lose much money but as you continue to trade, making use of what happened in your past, you could improve on it even if it is just for the sake of avoiding future losses.
Things like best times for trading, getting a good entry pt, following a strict trading strategy or knowing how to manage your leverage will tend to stick to you easily as you advance.
The worst type of trader is one who doesn't learn from his mistake. He is like a man who keeps trading up even after 3 consecutive losses and when the market is going down and vice versa.

One thing more, following the trend is good to last longer and always set an exit stop loss. Minimize your loss and maximize your profit if you want to last long in this business

Re: How to know when a currency pair like EUR/USD is bearish Reply by Felix Okoli on Sunday March 11, 2012 at 23:38:58:

3 things you can take a look at to quickly tell whether it is bearish are:
- The chart: It falls from left to right
- The Change index under price column. If it is in reds, then it is bearish
- Bollinger bands are constantly being touched on the bottom side