Quote:
Originally Posted by Phoenix
i have been pointed towards forex a few times.
i will read more about it...i just dont know enough to jump in right now.
Stocks i like to investigate read up on...check historical prices...i have a sound understanding of tech analysis based on my math degree. However it is still a gamble  |
Technical analysis is a key on FOREX, especially for USD/JPY, EUR/JPY pairs.
It's impossible to track all factors that affects currencies, so people are using technical analysis. Because many people are using it, it is very effective.
The key things of technical analysis which you *must* learn, are price support lines, price channels, formations (especially candlestick formations). Book "forex for dummies" explains these very good. You can try also "Technical Analysis - Introduction" book from Reuters.
There is also good to know about such things like Elliot Waves, Fibonacci levels, but it's a more advanced thing.