The entire forex trading market is one that is decentralized as there is no central place that handles it. Various currencies have relative values that are determined thanks to this market. There are different factors that make it unique. The most common ones are high liquidity, leverage use and geographical dispersion. There is also a continuous operation that makes up for another crucial factor. The forex market will operate every single day but not on the weekends.
Benefits Gained Through Weekend Forex Currency Trading Analysis
It is always a good idea to plan ahead and a good forex trading weekend analysis allows you to do just that. Here are the main benefits that you gain when you perform this analysis.
Establishing a Big Picture – Through weekend analysis you can create a very accurate picture of one market that you want to trade in. This is the period when the market is no longer influenced by dynamic flux. You can think more clearly without being drawn in by emotion.
Setting up Trading Plans – After your analysis is over you can see what you want to do in the week that comes. You will be able to see what to implement and you can basically prepare. During the weekends traders are studying weekly charts and see the patterns that will affect future trade. You will be able to see experts or news that will indicate market reversal when there are double topping patterns. By looking at all that has happened you can prepare for what is about to happen in a rational manner.
Routine Preparation Method – A lot of the big traders will go through weekend analysis so that routine preparation methods are established. Thanks to this a trading plan is created in the special area where they focus.
See one good Weekend Forex Analysis example from youtube :
We can say that all traders need to use weekend analysis because this is when the market is closed and they can think better. In fact, we can say that in order to properly understand current circumstances we do need to use this method of looking at all that happened. Unfortunately a lot of beginners do not do this. This is because of a lack of experience and the fact that they do not understand the importance of weekend analysis. Do not be one of them! Look at everything that happened during the week and analyze all the other economical factors as well as every trade that is connected with currency pairs that you are trading. If you do this you will be successful for sure.