Forex Candlestick Trading Strategies

Trading the forex market with candlestick trading strategies is one of the most effective, clear, and logical ways that you can trade. Gaining a solid understanding of forex candlestick trading strategies is important to the overall success and refinement of any serious forex trader, because learning to interpret and trade from candlestick patterns means that you learn how to interpret and trade “raw” price dynamics. Many beginning traders overlook the significance and benefits of obtaining a solid education in forex candlestick trading strategies, mainly because it seems too simple, but as all professional traders know, it is the simplest forex trading strategies that are typically the most effective.

Candlestick trading strategies have been used for hundreds of years, they date back to the 1700s when Japanese rice traders invented the candlestick in order to make predictions about the direction of rice prices over time. These candlestick patterns have been refined and improved upon over the years, and now forex candlestick charts as well as forex Japanese candlestick patterns are considered by most traders to be essential tools in their forex trading toolbox.

The primary reason that forex candlesticks are superior to standard forex price bars is because they give a more dynamic and forceful illustration of price action. Due to the way candlesticks represent price data (open, close, high, low), they provide an easier to interpret and utilize picture of exactly what price did for any given period of time. By learning to trade off some obvious and repeating forex Japanese candlestick patterns, you can develop an entire trading strategy that only requires a plain vanilla price chart with candlesticks.

Another big advantage of learning forex candlestick trading strategies is that they give you the most accurate and up to date method of entering the market. There are specific candlestick trade setups that occur at the exact top or bottom of market turning points, and once you learn to recognize these setups you can join an existing market trend at the most favorable entry point, rather than entering a move late and “chasing” it, which is what ends up happening when trying to use lagging indicators as your main entry tool.

It is very important to get a solid education in forex candlestick trading from someone who actually trades with forex candlestick patterns successfully. Too many beginning traders think they can teach themselves how to trade profitably, but what usually ends up happening is that they end up on a never-ending hunt for some “holy-grail” trading strategy that simply does not exist. So, it is very important that you learn an effective forex trading strategy from someone who actually knows what they are talking about and that has already found the forex trading success you desire to obtain. One of the most effective and easiest to use forex trading strategies is forex candlestick pattern trading, learning this strategy from a trusted and reputable forex trader and mentor like Nial Fuller is one of the quickest and most effective ways to learn how to trade forex.

Leave a Reply