Many forex traders will use both the fundamental and the technical analysis. They do chart the historical trends but still pay close attention to cultural, political and economic indicators of a region. They at times use charts and other techniques in checking the relation between currency fluctuations and political climate. However, even the most erudite technical analysis software has limitations. Any trader must get ready to take the risks involved and invest their money for a long term basis.
Primarily, there are two approaches – net based and client based. The former serves best experienced traders. Inexperienced traders are better off using client based approach, as that ensures having an advisor handy.
Individuals that use technical analysis follow the concept that both short- and long-term trends can be determined and exploited to assist in making decisions for the entry and exit points.
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