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Article » Day Trading Chart
Day Trading Chart
Aug 23 2007, 07:24
Day Trading Chart
As you may already know, there are a number of different aspects that you are going to have to learn about day trading one of the things that you are going to have to learn about is the day trading chart. One day trading chart that I would like to tell you about is the candlestick chart, however you should keep in mind that there are several different day trading charts that are also available to you as well. The reason that I choose to tell you about this particular day trading chart is because of the fact that this is a day trading chart that is highly recommended by the other traders. One thing that you need to make sure that you know is that there are two different approaches that you take when you are trying to analyze the actual individual price of a stock. The first way that you are able to analyze the price of a stock is by a fundamental analysis and the second way that you are able to analyze the price is by a technical analysis. When it comes to the fundamental analysis you will see that it is often referred to as a tool that is used to actually gauge the price of an individual stock which is based upon the fundamental attributes of that individual stock. You are able to refer to the fundamental attributes as the actual price of the earnings ratio to the actual return on the investment as well as the statistics of the economy.
Candlestick Day Trading Chart

In relationship to the technical analysis you will more than likely find out that the actual fundamental analysis that deals with the psychological component that relates to the event of trading a particular stock and it can also be influenced by the term emotionalism. You will also learn that a technical analyst is going to be the one asking the question of what others are thinking about the stock and how what others feel about the stock will actually affect the price of that individual stock in the near future. If you are interested in learning about the earlier history of the candlestick day trading chart you are going to find that the Japanese were actually the first ones that used the day trading chart known as the candlestick and they used the candlestick day trading chart so that they were actually able to trade in the rice futures market which was actually the first one to ever be created which took place in the sixteen hundreds which was a long time ago but that doesn’t matter because of the fact that the candlestick chart is still helping others trade today. If this proves anything it should prove that this is really a truly unique type of trading chart that really works.
Overview of the Candlestick Day Trading Chart

In the seventeen hundreds it was a Japanese man that went by the name Homma that actually traded in the futures market and he was also the one that discovered that there was indeed a link between the supply as well as the demand of rice that was traded in the markets, it was also found that the markets were affected by the emotions of the individual traders which influenced the prices that were associated with the actual trades. Homma was soon able to realize that he could personally benefit from knowing how those emotions affected the actual prices in relationship to those trades, he knew that there was a big difference in the actual value of rice and the actual price in which the rice was being traded for. In the markets today you will find that the difference among the value as well as the price is just as valid with the trading of stocks as it was years ago with the trading of rice.
The Fear of Using a Day Trading Chart

If you are going to be using this particular type of chart, it is very important that you take the time to recognize the fear as well as the greed that is represented in the chart. In the long run, if you know the signs of fear and greed you will be able to benefit from them. However, you should keep in mind that being able to recognize the signs of fear and greed are a rather hard job and it could be referred to as the hardest part of trading as well.
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Interview
with Matthew Sheppard
Senior Forex
Advisor at XForex


1. What is your name and position?
Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

2. What is your experience and professional background?
In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

3. What type of clients you deal with?
We deal with clients on all levels from the beginning stages to the more advanced trading levels.

4. Does most of your business activity come from the online or offline world?
Because of our high presence on the web, most of our business comes from the online world.

5. Why should a trader pick XForex from all forex brokers?
Aside from all the benefits that XForex offer like commission-free trading, 24/7 online support, high leverage (200:1), XForex offers educational and learning trading experience that you won’t find anywhere else..
Our team of experts and financial trainers provide personal assistance and guide clients to financial success. We provide daily analysis and market reviews to our clients giving them a better understanding of the market and helping them trade profitably.

6. From your experience, what advice would you give a person who wants to enter the forex world?
My advice to the beginning trader entering the Forex world is as follows:
• Learn the market and understand what you’re getting into.
• Research and find the broker that suits your needs and wants. Look for a good offering but more importantly customer service, don’t go for the low rates offer without being certain they have a good customer service department. From my extensive experience in the Forex world your key to success will be your client-broker relationship. I can honestly say that at XForex they put an emphasis on servicing clients, which is so important.
• Invest smartly and calculate your risks
• Always know when to get out of a trade

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