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Step 1 - Maximize Your Tools
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| FXCM provides multiple tools to help you become a better currency trader including free market news, and real time charts. The most valuable tool, however, is the FXCM Asia Demo account, which allows you to test out strategies and learn from your mistakes without risking real money. |
Step 2 - Manage Your Risk
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| Every successful trader should know how much risk he is willing to take, and what profits should result from the trade. This is the basis of every realistic trading strategy. |
Step 3 - Two ways to Trade
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| There are two types of traders, technical and fundamental. Both have a radically different approach to making trading decisions. Click here to find out which camp you belong to. |
Step 4 - The Basics of Technical Analysis
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| All technical analysis starts with a few basic building blocks. With these as a foundation, you can start to make sound trading decisions. |
| Charts |
| 1. What is Market Trend? |
8. Trendlines II |
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| 2. Type of Trends |
9. Trendlines III |
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| 3. Trend Classifications |
10. Channel Lines |
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| 4. Information about Trendlines |
11. Find Price Support Levels |
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| 5. Trend Analysis and Timing |
12. Find Price Resistance Levels |
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| 6. Drawing Trendlines |
13. 50% Retracements |
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| 7. Trendlines |
14. 33% and 66% Retracements |
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Step 5 - Applying Technical Analysis
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| FXCM Asia provides tools for basic technical analysis. Click Here to test your knowledge of technical analysis. |
Step 6 - Fundamental Everyone Should Know
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| All Traders should understand why economic releases, interest rates, and international trade are important to movements in the currency market. |
Step 7 - Psychology of Trading
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| The biggest enemy to most traders is not the market, but themselves. Learn four basic trading principals that will help you to avoid the four biggest mistakes that traders make. |
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