Champion FX Trade

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WHY TRADE CURRENCIES?

Easy to understand

Exchanging currencies is as old as money itself. You are simply buying one and selling another because you believe the exchange rate will rise or fall.

Largest Market

The forex market is the largest financial market in the world, with an average daily trading volume of $6.6 trillion in April 2019.

Highly liquid

Due tohigh liquidity, this market can absorb substantial trades without significant movement, which is an advantage over a relatively illiquid asset class like penny stocks.

Cheaper to trade

The forex market offers affordability with tight spreads and often no commissions, making it advantageous for active traders and those increasing transaction sizes.

Available 24 hrs a day

The forex market operates continuously from Sunday to Friday, ensuring there's always an active session globally, unlike stock markets with shorter daily sessions.

Leverage

Forex trading offers leverage, enabling traders to control larger positions with a relatively small amount of capital, amplifying potential gains (but also risks).

About Champion FX Trade About Champion FX Trade

Find all Forex Brokers Reviews on our website with Ratings and Trust Scores. Our mission is to fact the Broker’s offering points that will help you to choose the best suitable Broker for own trading needs. Our Forex broker list is updated on a regular basis and includes Regulated Forex Brokers and Brokers to Avoid. Fund security is always first in Forex trading, that’s why we recommend opening an account with well-regulated brokers and avoid unregulated brokers at all cost.

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Ways to read the main types of Forex Charts

Ways to read the main types of Forex Charts

1. Tick Charts

 If you are just learning forex trading, this list should give you a good overview of how to read primary forex charts. You will find that certain forex charts give you more useful information than others. One trader might achieve soaring success using a tick chart while another hates reading tick charts and makes good money using candlestick charts.
While you may get recommendations from your friends or
colleagues, you should try all these charts until you find one that you feel works best. You should not feel you are attached to one chart that worked in the past if it is not longer functional. Remaining loyal to a singular form of investment is not a wise long-term investment strategy. Plus, you can mix these charts during your studies as you
search for the best indicators.

Read More Read Less

1. Tick Charts

 If you are just learning forex trading, this list should give you a good overview of how to read primary forex charts. You will find that certain forex charts give you more useful information than others. One trader might achieve soaring success using a tick chart while another hates reading tick charts and makes good money using candlestick charts.
While you may get recommendations from your friends or
colleagues, you should try all these charts until you find one that you feel works best. You should not feel you are attached to one chart that worked in the past if it is not longer functional. Remaining loyal to a singular form of investment is not a wise long-term investment strategy. Plus, you can mix these charts during your studies as you
search for the best indicators.

Read More Read Less

2. Point and Figure Charts

One of the most popular types of charts used by professional forex traders is the point and figure chart. This allows them to filter exchange rate moves, identify clear support and resistance levels, and even trade-specific patterns. Like the tick chart, this type of chart does not have consistent time intervals on the x-axis, so it also allows a trader to focus purely on the exchange rate action. Point and figure charts are typically constructed on graph paper by using an X to fill a rising column of boxes and an O to fill a fallin column of boxes. Each box represents a specified value that the exchange rate has to attain to justify marking an X or an O on the graph. These charts also have a parameter called a reversal, which is usually set at three boxes. This means at least a three-box move is required to switch the present column from using the X to using the O, or vice versa. Whenever a reversal occurs, the graph also
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3. Line Charts

• Line charts connect a set of single exchange rate observations taken per time period with a straight line. These charts most often use closing prices, although they could be drawn through high, low or opening prices instead. • Since line charts offer a relatively simplified picture of exchange rate movements, they can be used to identify overall trends and other large-scale patterns on charts. Unlike the tick chart, a line chart has an x-axis with fixed time intervals. • A line chart also helps you see short-term trends that can affect any asset. For example, you may see a steep decline related to a selloff, and you will see the stock’s recovery shortly thereafter. You can also use line charts to track the performance of a stock over long periods of time. It is easy to see, for example, that a stock dipped for a year due to negative press only to recover in conjunction with positive press.
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3. Line Charts

• Line charts connect a set of single exchange rate observations taken per time period with a straight line. These charts most often use closing prices, although they could be drawn through high, low or opening prices instead. • Since line charts offer a relatively simplified picture of exchange rate movements, they can be used to identify overall trends and other large-scale patterns on charts. Unlike the tick chart, a line chart has an x-axis with fixed time intervals. • A line chart also helps you see short-term trends that can affect any asset. For example, you may see a steep decline related to a selloff, and you will see the stock’s recovery shortly thereafter. You can also use line charts to track the performance of a stock over long periods of time. It is easy to see, for example, that a stock dipped for a year due to negative press only to recover in conjunction with positive press.
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4. Bar Charts

• Bar charts show the high, low, open, and close for each time period which together form a bar. The high and the low are connected with a vertical line, while a small horizontal dash is shown at the open level protruding to the left. The closing level is shown by a horizontal dash to the left. These bars are not connected to each other like the data points that make up line and tick charts are, but they do give much more information. Like line charts, bar charts also have fixed intervals on the x-axis. Bar charts are particularly useful for identifying exchange rate gaps where the range of the first time period does not overlap that of the subsequent period. They can also be useful for ascertaining whether the market has closed above a key level in a chart pattern, which might signal a breakout. While bar charts can reveal long-term trends, the spreads on each bar may be more difficult to interpret. If you track just one price on a bar chart, you could generate a line chart that helps you gather insight into the performance of the stock.
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5. Candlestick Charts

• Candlesticks chart are a Japanese invention that offers even more information than a bar chart because the color of the candle’s body signifies whether the market rose or fell
during the particular time period.
For example, a white body can be used to show a rising or
bullish candle, while a black body shows a falling (bearish)
candle. The vertical lines between the low and the open and between the close and the high are called wicks. Some candles have long wicks, others have short wicks and this can be significant when it comes to predicting subsequent market
behavior. In fact, an entire technical analysis science has evolved regarding specific combinations of candlesticks that have predictive value and can be considered char patterns in their own right. Many of them have colorful names like the hammer, doji, hanging man and shooting star.

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5. Candlestick Charts

• Candlesticks chart are a Japanese invention that offers even more information than a bar chart because the color of the candle’s body signifies whether the market rose or fell
during the particular time period.
For example, a white body can be used to show a rising or
bullish candle, while a black body shows a falling (bearish)
candle. The vertical lines between the low and the open and between the close and the high are called wicks. Some candles have long wicks, others have short wicks and this can be significant when it comes to predicting subsequent market
behavior. In fact, an entire technical analysis science has evolved regarding specific combinations of candlesticks that have predictive value and can be considered char patterns in their own right. Many of them have colorful names like the hammer, doji, hanging man and shooting star.

Read More Read Less

ONE MARKET TO RULE THEM ALL ONE MARKET TO RULE THEM ALL

• Often overlooked by retail traders, the massive forex market has become very accessible to just about anyone. All you need to start trading currencies is a relatively modern Internet-connected device and a modest deposit to use as margin. Once you achieve consistent profitability trading forex, even while operating in a small trading account, your strategy can scale up to produce even more profits in a much larger trading account. Yet, this sounds easier in theory than it is in practice. The forex market requires patience, planning and discipline. You will have to resist the temptation of entering a trade for the sake of simply being in the market. While the forex market is typically slower-paced than some other asset classes, like stocks or commodities, currency trading is not without perils. Violent movements (like the Swiss franc shock in January 2015) do happen, and you must remain vigilant when trading currencies. Using a regulated broker is the first step in the right direction, but ultimately, success in forex trading comes down to knowledge, discipline and dedication.
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