ForEx Resources

Online Currency Trading System Section

• Home
• Videos
• Podcasts
• Sitemap

Custom Search

Online Currency Trading System Article

This is a selection made from among articles on Online Currency Trading System. For a permanent link to this article, or to bookmark it for future reading, click here.

An Introduction to Forex and Elliot Wave Degrees

As a Forex trader you will always be attempting to make more
profits than losses from the fluctuations of exchange rates
between currencies in the forex market; in short, this is what
is called forex trading.



And if you want to become a profitable forex trader you will
need a good technique to forecast the market behavior with time;
i.e., how the currencies value will fluctuate in the next period
of time you are interested on trading.



One of the best techniques you can use to forecast the Forex
markets is by using the Elliot Wave Theory.



Ralph Nelson Elliot also observed that the market has strong
trends that seem to follow a repetitive pattern in all the
different time frames; and after analyzing a great number of
charts he discovered in the late 1920's that the markets move in
a repetitive manner that is far away from being a totally
chaotic behavior.



And this was not all Elliot discovered; he also realized that
this patterns had a fractal nature. This means that the patterns
not only repeated with time but that in a given period of time
the characteristic wave pattern would repeat at different scales
(days, hours, minutes).



This is the most basic concept in Elliot's theory; i.e., the
largest wave structures are composed of smaller sub waves, and
these in turn are composed of even smaller sub waves, and in
principle this goes on to infinity.



Elliot gave a name to these wave structures calling them "wave
degrees", depending on the time frame you are looking at. The
range of these degrees goes from centuries to hours.



Elliot distinguished Nine Wave Degrees in his studies, they are
known as:



- Grand Supercycle - Supercycle - Cycle - Primary - Intermediate
- Minor - Minute - Minuette - Sub Minute



In principle these degrees can go to infinity and they clearly
show you can choose the time frame you like better, according to
your trading objectives, and the patterns you will see will be
the same in any of these time frames.



About the author:


Adrian Pablo is a Forex freelance writer with articles published
in a number of places. Get a free report on Fibonacci Trading
and learn more about the world of trading , visit:



http://www.1-forex.com

Leave A Comment!

Close Your Name Email Address Add Your URL Your Comments Enter Captcha Code Shown To Left

Show All CommentsHide Most Comments | Post Your CommentsHide Comment Form

Additional Sponsors

Other Online Currency Trading System Related Articles

Getting A Forex Trading Education
The Meaning Of Forex Price Charts And How To Use Them
Impress Your Date With Forex Trading Lingo
Forex Trading Strategies
Forex Trading Online 7 Reasons Why You Should

Do you want to contribute to our site: Submit your articles - HERE

Online Currency Trading System News

IMPORTANT: Bing News RSS feed has moved!

FlexTrade Connects to Dubai Gold & Commodities Exchange (DGCX)

GREAT NECK, N.Y.--(EON: Enhanced Online News)--FlexTrade Systems, a global leader in broker-neutral multi-asset algorithmic trading systems ... It is an electronic commodity and currency derivatives exchange with 230 members from across the globe, offering ...

Stern Advice: 5 reasons to start day trading now

Schmitt has been moving his own retirement account money in and out of the market on a daily ... plans do limit the frequency with which you can trade. Here's Schmitt's system: "Near the end of each day, if the market is lower, I'm buying.

Simply Support and Resistance – Part 2: Price Points & Levels

Subscribe to the Weekly Newsletter published by Online Trading Academy. Receive the full newsletter ... approach either strategy with separate rules and guidelines. Both systems do work, but require discipline and rules to achieve any kind ...

BUYINS.NET: FXE, SLV, VRTB, DOO, ROMA, IDSY Are Seasonally Ripe To Go Down In the Next Five Weeks

ID SYSTEMS INC (NASDAQ ... commodities and currencies. The data has then been integrated into an automated trading platform which can be used to connect to a live online broker and automate your trading of each of the strategies highlighted.