You ever hear how some traders say that they need the market to be more volatile to be able to tell when they should trade? There is a good reason for that. The more volatile the market, the easier it is to spot key support and resistance areas in the market. This can be done through the use of price action. And if there is one thing that price action traders hate more than anything else, its a slow market.
Speak your client’s language (don’t make them try to speak yours). If you are an accountant or attorney, you may be especially guilty of this! Get to know your client’s business or industry and learn their buzz words. It doesn’t take too many buzz words for you to sound like an insider.
Let’s say that the past five lows that mark the support line are at $5.00, $5.50, $6.00, $6.50, $7.00 and that the past five highs that establish the resistance line are at $6.00, $6.50, $7.00, $7.50, $8.00. By drawing the support and resistance line at the aforementioned price points you can see that the distance between support and resistance as the stock trends up is about $1.00. That tells you that if you get in at support and got out at resistance you have the chance to make $1.00 per share.
A fake forex trade account is designed to combat that. With it, you will have access to all of the latest forex information, but you will invest pretend money. That way, if you make a mistake, you will not suffer financially because of it.
If you can trace a nice, neat support line that follows the lows that have been hitting at higher and higher points and a resistance line that has highs that have also been hitting at higher and higher points then you can be assured that the stock is in an uptrend. How do we know how much money we’re possibly going to make in this uptrending stock?
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Learning how to trade the currency markets is not that difficult at all. There are a ton of exceptional Forex courses online that will teach you everything from the basic fundamentals to the most advanced sophisticated trading and investing techniques. A few courses you might want to check out are Price Action Forex Program, Forex Power Strategy or Forex Books and Video Program.
Going through this exercise will help you engage totally in the penny stock investment process with no exposure to risk while judging each “guru’s picks.