Daniel Lindsay - Daniel is a full time private forex trader and blogger, mainly adopting a scalping / day trading strategy.

Following graduation in 2001, Daniel has steadily developed his experience and knowledge in the forex arena, and in the wider financial sphere.

He has a developing interest in the growing role of fringe currencies in the forex market.
Daniel Lindsay
Daniel is a full time private forex trader and blogger, mainly adopting a scalping / day trading strategy. Following graduation in 2001, Daniel has steadily developed his experience and knowledge in the forex arena, and in the wider financial sphere. He has a developing interest in the growing role of fringe currencies in the forex market.
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The Technical Trader – What Forex Style Suits You?

Practitioners of technical analysis utilise trading rules and models based on analysis of past price and volume information in order to define a more profitable route trading markets. Technical analysis is based on the premise that prices move in trends and that history often tends to repeat itself. It is an excellent tool for traders and can greatly enhance returns especially when used in conjunction with other research such as fundamental analysis.

Successful technical traders develop clearly defined rules to manage their risk, rules where the preservation of capital is paramount to success. The concept of capital preservation is an integral component in the results enjoyed by some of the world’s most successful market traders.

Famous Technical Trader: Paul Tudor Jones

“I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have”

- Paul Tudor Jones

Few people have done this as well as Paul Tudor Jones. He operates a hedge fund management company that charges investors higher fees than average due to it’s success. Jones’ greatest success was his 1987 prediction of Black Monday in which he tripled his funds by running large short positions. In 1987 it was reported that Paul Tudor Jones made close to US$100million. In 1987 he returned 200% on his hedge fund and 90% in 1990.

He has never had a losing year. In 2006 it was reported that he made $750 million. As of March 2011, he was estimated to have a net worth of USD 3.3 billion by Forbes Magazine and ranked as 336th richest in the world.

5 Facts About Position Trading

1) Tools of The Trade

A primary tool of the Technical Trader is the price chart which depicts price movements.

2) Candlestick Charts

Candlestick Charts were originally developed by Japanese rice traders in the 16th century.

3) Support & Resistance

Support and Resistance are important areas on the price chart which form barriers where traders expect a congestion of market orders.

4) Indicators

Technical traders utilize technical indicators to help them see through the market noise and more effectively time their trades.

5) No wrong or right

There is no right or wrong between Technical and Fundamental trading. Traders will utilise both to improve their results.

Technical Trading On MahiFX

The MahiFX platform is tailored for this style of trading. We offer a very innovative and intuitive charting facility that is extremely easy to navigate.

Charting and the technical trader

To enable successful analysis of the market technical traders will draw upon many tools to help them determine the underlying characteristics of the market. It is perhaps more widely used in the foreign exchange market than any other market.

Charting, whilst certainly not the only tool at the disposal of the technical trader is integral to the analysis of the markets behaviors and predicting future price movements.

Features of the MahiFX Charting Function

At MahiFX, we offer the ability to chart multiple instruments simultaneously allowing users to compare the performance of instruments amongst their peers. This concept of relative strength/weakness is a favored indicator amongst technicians.

Chart Styles/Technical Indicators And Overlays

We offer users the choice of many technical indicators to help them trade.

Our present offering includes a variety of indicators to help users analyze markets trends and momentum. Presently we offer a choice of six Moving Average types which can be studied simultaneously and tailored to a users preference, helping users to determine underlying trends and changes in those trends to more successfully time their entry and exit points in the market. Our offering also includes many momentum indicators such as the Rate of Change (ROC), Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), Stochastics, and the Directional Movement System indicators amongst others which help users study the underlying direction and momentum of the market.

We look forward in the future to bringing an ever expanding package of technical tools over coming months to help you trade the market and enjoy even more success at MahiFX.

Sign up to our demo account now to test out your trading skills with $100K of demo money! The content of this blog post can be seen on our interactive infographic What Forex Trading Style Suits You?

For more information on using our charting check out our charting video

Thanks for reading and make sure you don’t miss the next installment of What Forex Trading Style Suits You.

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