Introduction to Japanese Candle Charts
These candles are not as “seasonal” like Christmas candles. Japanese Candles happily ignite every second of every day all year and every year on the charts, thanks to ever-improving computer technology. With the information avalanche on this subject it is very easy today to become well-informed and develop good trading habits. However, there are still many misconceptions and misinterpretations due to the number of “cowboys” in this industry – many are self-taught, like the pop musicians I met in the 60′s and 70′s : they couldn’t read, but were excellent musos displaying amazing skills. And, mind you, some of them even call themselves ‘professionals’ and worse, they charge you money! Oh the pain! Only to find out when it is too late! Been there, done that! – over the last ten years.
I did mention somewhere before that I have been lucky enough to meet also some great teachers, both, for free and for fee, worth every cent and every minute spent. Those are the people I want to share with you in this blog.
Those teachers who avail themselves to affiliation I am proud to take this opportunity, indeed, privilege. In this spirit I want to recommend Steve Nison and his expertise on Japanese candlesticks. He is ‘THE” original expert on the subject and has produced many books and lectures. He simply is a ‘must have’ teacher to ensure success in playing the forex market. If you are not sure what “candles” are, then watch this short and very basic video.
ps. nearly forgot: Do check out his Pre-launch Special: “Profiting in Forex DVD Workshop”
” ONE MINUTE CANDLES ”
- and introduction to Japanese Candle Charts
3 Easy Steps To Get Started In Forex Trading
(A) BASIC REQUIREMENTS for your road to success are:
- a PC and fast internet / ADSL connection
- some Spare Time to learn and practice
- Patience and Self Discipline
- know where to find the best Information and use it
The first two are already under control as you are reading this, the third will be an ongoing theme and exercise as you develop into a successful trader, and the fourth I will be helping you with here.
(B) SETTING-UP FACILITIES
- INFORMATION: There are many sites that offer brilliant and comprehensive facilities and information. Two of my favorite sites are Forex Street and fxFactory. You will find on both sites an abundance of useful information and tuition. This can be very time consuming, especially when you get side-tracked with discussions in forums, &c. You will find there is an absolute flood of info, and, if not careful, you may succumb to information overload, getting you down rather than propelling you forward. I recommend to click on those two sites and bookmark them as you will become a regular visitor. (NB. 10 years ago one had to pay for this quality content ! )
- TRADING: I used several sites over the last ten years, but my two favorites are fxSolutions and FXCM. Both sites offer FREE DEMO Accounts, CHARTING software and EDUCATION. FXCM I find more vibrant and comprehensive, fxSol low key with great service, reliable and great charting software, intuitive and very easy to use. I am using their Accucharts for all my analytical studies. Again, click on their respective links to log in and download their free wares – absolutely FREE ! no charges! Silch! And you can start “trading” within the next 5 minutes . . . and demolish thousands of dollars without pain! When you have killed and account, you can start another one. However, I want to impress on you now that it would be much better to take your demo account very serious, as if it was your real money you put up front. Do treat it with respect and utmost caution. You still will demolish a few, but the more mistakes you can make without actually paying for it the more you will learn, the better your experience. So, what are you waiting for? Go for it! Choose one to start and keep it simple. Here are the links again: fxSolutions and FXCM.
- FIRST ACTIONS: Now you have downloaded a free DEMO ACCOUNT and CHARTING Software. Do some background reading, explore and click your way through anything that arouses your curiosity. I will try to create a short video to explain these steps again, before moving on to charting and the info we gain from there. CONGRATULATIONS! You’ve taken the first step.
To see a visual demonstration of the above view this 9min video
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