Some important message for new Forex traders

LEARNING IS FIRST STEP FOR FOREX TRADING.
SO WORK WITH HEART AND PASSION SO.
success in the forex business
AVOIDE GREED
WAIT LEARNING
PRACTICE
THESE ARE THE THINGS BY WHICH WE CAN FIND SUCCESS IN FOREX MARKET SO KEEP IN MIND THESE POINTS

In the following lessons, you will learn how to calculate forex pivot points, the different types of pivot points and most importantly, how you can add pivot points to your forex trading toolbox!

Back in the old school days of the 1920-30s, there was this mad genius and professional accountant named Ralph Nelson Elliott.


According to him

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By analyzing closely 75 years worth of stock data, Elliott discovered that stock markets, thought to behave in a somewhat chaotic manner, actually didn’t.

When he hit 66 years old, he finally gathered enough evidence (and confidence) to share his discovery with the worldHe published his theory in the book entitled The Wave Principle.

were the emotions of investors caused by outside influences (ahem, CNBC, Bloomberg, ESPN) or the predominant psychology of the masses at the time.

Elliott explained that the upward and downward swings in price caused by the collective psychology always showed up in the same repetitive patterns.

He called these upward and downward swings “waves”.He believes that, if you can correctly identify the repeating patterns in prices, you can predict where price will go (or not go) next.

This is what makes Elliott waves so appealing to traders. It gives them a way to identify precise points where price is most likely to reverse. In other words, Elliott came up with a system that enables traders to catch tops and bottoms.

So, amidst all the chaos in prices, Elliott found order. Awesome, huh? Of course, like all mad geniuses, forex trader,

he needed to claim this observation and so he came up with a super original name: The Elliott Wave Theory.

But before we delve into the Elliott waves, you need to first understand what fractals arBasically, fractals are structures that can be split into parts,

each of which is a very similar copy of the whole. Mathematicians like to call this property “self-similarity”.You don’t need to go far to find examples of fractals. They can found all over nature!

A sea shell is a fractal. A snow flake is a fractal. A cloud is a fractal. Heck, a lightning bolt is a fractal.So why are fractals important?