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When it comes to using technical analysis to trade forex, a wide variety of options are readily available that could suit either the novice or more advanced trader. Some of the more popular of these technical trading choices appear below in approximate order of the complexity involved in implementing them.
Read a Technical Newsletter
Perhaps the easiest way that a novice trader could start using technical analysis to trade forex would be to start reading a technical analysis newsletter. This way, they would receive the ongoing directional advice of professional technical analysts. Then, as they read the newsletter over time, they can gradually attempt to replicate the analytical results that the technical pros provided.
Subscribe to a Trade Signal Generating Service
A relatively modern development in forex trading involves using technical trading signal services. These companies generally provide forex trade signals based on trade plans developed by experts who offer them to the public as commercial products for either a one-time fee or on an ongoing payment basis.
You can simply subscribe to one of these services by paying their fees, and they will provide you with technical trading signals. Subscribers generally then have the choice as to whether to take the signals or not and about how much to place at risk on each trade.
Educate Yourself about Technical Analysis Methods
Many good books have been written about technical analysis, including John Murphy
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