Before we go any further, we want you to be absolutely clear about the following points.:

• Every FOREX trader, and by that we really all mean, sometimes lose when trading. Most beginners lose their money, due to poor planning and practice, or because there are no personal rules for use and risk.
• Never trade with money whose loss you can't take away: Do not take money that you absolutely need to pay the next electricity bill or what to buy to eat to top up your FOREX account. The risk is simply too great, that you will be left empty-handed afterwards.

Welcome to the primary school. We are looking forward to, that you attend primary school and are ready, acquire extensive knowledge of FOREX trading. The Forex Primary School consists of a total of 81 Topics, which you should work through attentively and occasionally repeat in order to become saddle-proof in all areas.

There are three different types of charts:

• Line Charts (Line chart)
• Bar Charts (Bar graph)
• Candelstick Charts (Candlestick chart)

Let's take a look at the charts in detail now….

In the previous chapter, we briefly addressed the topic of candlesticks, now we will take a closer look at what candlesticks are and how you can use them for your activity as a FOREX trader. Candlesticks are originally from Japan, Steve Nison then discovered this technique for use in trade statistics.. Now let's take a look, what candlesticks are, what they tell us and what they are made of.

In the previous chapter, we briefly addressed the topic of candlesticks, now we will take a closer look at what candlesticks are and how you can use them for your activity as a FOREX trader. Candlesticks are originally from Japan, Steve Nison then discovered this technique for use in trade statistics..

As a trader, recognizing a trend early is one of the most important tasks. The sooner we recognize a trend, the sooner we can jump on the bandwagon and the longer we can take advantage of the trend.

Support (Support) and Resistance (Resistance) is one of the most widely used concepts of FOREX chart analysis. The stranger it seems, that everyone has a different idea of it, when support or resistance occurs. Let's look at a diagram in which both situations are drawn.

In this chart we see that the price is basically in an upward trend (Bull market) is located, but there is also a tick – Zack patterns to recognize. When the price rises and then is pulled down, then we refer to the highest point previously reached as Resistance.

A Moving Average, on German moving average, is a method of smoothing price movements in a certain period of time. The Moving Average calculates an average of the last closing prices of a certain number of trading sections.

Like any other indicator, we also use the moving average to help anticipate future price movements. If you look at the slope of the mean, then they can take a picture of it, where the price will continue to move.