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The foreign exchange market (forex, FX (pronounced "fix"), or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.
[6] [7] These orders are not shown on candlesticks charts and can only be seen on Order Books, once these orders have been executed they turn to Market orders which are then displayed on the chart. [8] Order Book/ Depth of Market. Order Flow Traders can see levels of support and resistance by the size of buy and sell orders.
An hourly candlestick shown with order book depth on a currency exchange. A candlestick chart (also called Japanese candlestick chart or K-line ) is a style of financial chart used to describe price movements of a security , derivative , or currency .
The aspects of a candlestick pattern. A candlestick chart (also called Japanese candlestick chart or K-line [7]) is a style of financial chart used to describe price movements of a security, derivative, or currency.
The trading strategy is developed by the following methods: Automated trading; by programming or by visual development. Trading Plan Creation; by creating a detailed and defined set of rules that guide the trader into and through the trading process with entry and exit techniques clearly outlined and risk, reward parameters established from the outset.
Forex brokers that offer mirror trading typically review, verify, and validate the trading results of strategies they add to their platform, which aids in identifying and eliminating losing trades. Before accepting a new strategy, a broker may require it to have a 12-month track record of profitability and a certain maximum drawdown limit.