Forex charts analysis on the Forex market can be overwhelming at times, if only you have a few favorite technical analysis tools at your disposal. Tool: TrendBiter is a great choice for its familiarity and ease of use.
TrendBiter is a great choice for its familiarity and ease of use. TrendBiter can be used to measure the trend of a market, or break it down into smaller trend segments.
TrendBiter also has built-in support and guidance, which can be useful in identifying areas of high and low demand.
Forex charts analysis should only be used on high volume stocks, as low volume stocks are too volatile.
If you are using this analysis on small cap stocks, only use the low-volume section. If you are using it on large cap stocks, and using a technical analysis tool, only use the high-volume section. If you are using it on penny stocks, and using a technical analysis tool, only use the low-volume section. TrendBiter is a great choice for its familiarity with the high frequency trading market.
TrendBiter is a great choice for its familiarity with the high frequency trading market.
With TrendBiter, you can monitor the health of a market segment by entering the ticker symbol. With many other popular forex trading tools, it is important to establish a solid base in order to gain proficiency in the trading. A good base is essential to gain an edge over your competition.
A solid base is also essential to establish a customer?s loyalty and support.
Building an edge in the short term is difficult and unrealistic.
Most traders settle for a good base, or even a great one.
A bad base does not go away easily. A bad base remains the same no matter what happens to the stock. Trying to gain an edge through low volume stocks is not advisable.
An edge is earned through your own actions and decisions. This is not to say that you cannot gain an edge through high volume stocks, it is simply not feasible for you to gain an edge over your competitors. Trading with low volumes is difficult and tiresome.
A good base will help you establish patience and focus. You must be patient while your base grows. You will gain an edge in the short term, but the long term gains are difficult to predict.
Trying to gain an edge in this environment is like trying to climb a mountain by climbing a sinking ship. You can taste salt in the air, yet you keep coming. You cannot climb the mountain by purchasing low and selling high. You must purchase low and sell high to gain an edge.
The ideal combination for this analysis is shown in the figure. The vertical line represents the purchase price, the horizontal line the asking price.
(Source: Barron St. Martin Trading System, Inc.) The analyst has two ways of building a line across the width of the chart. He can either draw a straight line across the entire width of the chart, or he can draw a partial straight line along the x-axis.
The analyst can easily determine the trend of the stock by this method.