In today faq, we have several questions from one of our fellow readers in my blog.
Below are the questions
Q1. What is the best time to trade?
Q2. How can I recognize Japanese candles?
Q3. What are the best technical analysis of news?
Q4. How many lines are Moving average?
Answer to Question 1:
Frankly speaking there is no best time to trade. Actually for my BTB strategy, I use it on the Asian, London and New York session.
My advice for you is to trade anytime you are free and available so that you are not stress and have better judgement
Answer to Question 2:
For Japanese candlesticks, you can simply get a book on it but please note that you can never be profitable simply with candlesticks. You will need to make use of other indicators and trading conditions to formulate an effective strategy.
Answer to Question 3:
For news trading, there is no technical analysis that is effective. This is because news trading is simply movement due to human sentiment. For me, I do not trade the news as it requires luck to make it.
Therefore I will recommend that you stick to full technical analysis instead
Answer to Question 4:
For moving average, it is one line per moving average. For me, I usually use the exponential moving average as it is more responsive and useful.
All you need to do is to plot one EMA at a time and then set the period differently to get multiple EMA
I hope that I have answered your question and do feel free to email me at [email protected] if you have any questions