MOZANFOREX is a Nigerian based forex trading company. In the past four years, we have trained over three thousands forex traders. Over the years, we have come to  understand that to be a successful forex trader, your experience and careful understanding of the forex market is very important.

To start with, Online forex trading is not a get-rich quick market. If you have this notion, its better you know this right now. However, there is a good news here that you can earn a living, being in this market and over the time, as you learn more and more, we can assure you that this is a dependable source of lively-hood if you can follow the instructions to the letter.

You are welcome to our world.

TECHNICAL ANALYSIS

Technical analysis is another way of analyzing the forex market. As it names implies, these are techniques by which you analyze the market. It involves the use of indicators which suggest where the market is heading to. There are lot of these technical indicators that are freely available based on your brokers platform. Some of these indicators are as old as Methuselah. What we have discovered is that they work, when properly when properly applied.

It is not possible for you to say you are a technical analyst while you totally ignore the fundamental news that could affect your indicators performance when they are being released. That is why we say in the market that the fundamental news sometimes override your technical analysis.

These indicators measures the performance of the market reaction. They are classified as trend measuring indicators, the oscillators, some measures the volumes of the market. Below are lists of some good numbers of them.

(1) Commodity Channel Index  (2) Bollinger Band  (3) Average directional Index   (4) Moving average  (5)Parabolic Sar   (6) Standard deviation

Oscillators

1. MACD (Moving Average Convergence & Divergence)  (2) Stochastic Oscillators  (3) Relative Strength Index (RSI)    (4) Average True range           (5) Bears Power   (6) Bulls power   (7) Momentum

Volumes

(1) On balance volume  (2) Money Flow Index   (3) Money flow Index

It is not compulsory you use all of these indicators. We have heard and read from a lot of books and 'trainers' that it is advisable that you use just 2 or 3 of them. All these could be good. However, what we advise is that since the motive of these indicators is to suggest the direction of the market, we would advise that you use good combination of them, as many as possible that will suggest a convincing direction of the market and will enable you to form a good decision of the market.

With our experience of training, we do teach a good numbers of these indicators, in our trading, sometimes we may have to switch over the combination of these indicators, sometimes we use just a few, sometimes we may have to add more so as to form an unbiased opinion of the market.

I like the forex trading market for one unique purpose. Upon learning of the art of the trading, you will have to sit down and work on your trading experience, practicals and decide what really works for you, - trading strategy. It could be possible that what really works for you may not really work for another person under same condition.

For example, I started with fundamental analysis and move on to technical analysis which I found more interesting. After training a student of ours, he told me of his wonderful experience on fundamental analysis with proof, I was surprised to see the result. There are lot of things that determines your trading success. Your personality, your traits, your passion, your psychology, your thinking etc. All these may not be the same in every individual.

Forex trading market is very unique and dynamic. That is why you have to be dynamic too as a trader.

There are some of these resource website which you can refer to in the course of your technical analysis for some day to day of the forex market analysis. These are:  www.alpari.co.uk    www.actionforex.com    www.babypips.com   

What we should understand is that what happens in the forex market is just a graphical reaction of the force of demand and supply as a result of buying and selling of these currencies by you and me. Its not just a kind of picture from the moon. That is why the market is purely a human being.  Having tried some Forex trading robots in the past, we have been able to form a consensual opinion to this market that the best result in this market is the overall understanding of the market with the application of relevant rules and regulations. Forex market is not a get-rich-quickly place. It takes the right discipline, dedication, patience and obedience to rules to become a successful forex trader.

FOREX TRADING ESSENTIALS

1. A computer

2. Internet Connection

3. A bank Account

4. Form of Identity

5. Good Training (Mentorship)

6. Ability to read and write

7. Control of Emotion

8. Good analytical skill

9. Patience

Warning:  Forex trading involves substantial risk of loss and is not suitable for all investors