This article continues our forex education in technical analysis, looking at charts and indicators. Here we will focus on the indicator known as the Parabolic SAR (Stop And Reversal), developed by Welles Wilder.
Most indicators involve identifying a trend in price movements, which of course is a very important skill to have. The trend is your friend as they say, and traders need to be able to place orders as accurately as possible at the start of a new trend. But at the same time it is important to know when a trend is ending, so that you can close your trade. If you do not do this, you could easily see the market wiping out all of your profits and turning a winning trade into a loser.
This FAP Turbo review looks at the expert advisor that burst onto the market late in 2008 and has been taking the forex scene by storm. Is it really as good as the sales page makes out? Here are the good and bad points of FAP Turbo in our humble opinion.
User Results And Feedback
This is always the most important consideration for any forex robot. The results that the product developers claim on the sales page are amazing of course, but what happens when you get it home? How does it actually perform for people like you?
When you go to a bookstore either offline or online you will see a whole range of forex book choices. There are some printed books that have almost become classics in the three decades that forex trading has been a recognized form of speculative investment. However, many of these may seem outdated now that we have online trading that anybody can do from home. Something that was written in the days when currency trading was all undertaken by the big banks might still be helpful, but it takes some work for the small time home based trader to apply it to our modern situation.
One of the most important things you can learn in any forex trading education is how to keep to your chosen system or systems in a consistent way.
Hopping from one thing to another will kill any chance you have of making profits, but we are all tempted from time to time. If you find it hard to keep to one trading system, here are some techniques that may help you to learn to be consistent.
