Of the many market sayings thrown around by traders, perhaps none is more overused and less understood than the old adage 'the trend is your friend'. All too often, the phrase is used after a trader has taken a counter-trend position and subsequently been stopped out at a loss. Remorse sets in at this point and most traders kick themselves not only for having lost on a counter-trend trade, but also for not having caught the latest move in the trend itself.

Introduction
This is a guide that tells you, in simple understandable language, how to choose the right charts, read them correctly, and act effectively in the market from what you see on them. Probably most of you have taken a course or studied the use of charts in the past. This should add to that knowledge.

John Murphy, is a very popular author, columnist, and speaker on the subject of Technical Analysis. John's "Ten Laws of Technical Trading" is the best guide available anywhere for people who are new to the field of charting. I urge you to print out this page and refer to it often. If you find this information useful, consider subscribing to John's Market Message Service.

1. What is your approach to trading in periods between news releases?
2. Do you trade in these times of more gradual market activity, and if so, what are your rules for entry and exit?
3. Which charts (1 min through monthly) do you refer to for entry and exit in these periods and the relevance of each?

Examples of U.S. economic indicators that are clearly tradable, resulting in immediate price adjustment and trading position profits:

I believe it is fair to say that the great majority of those who enter into trading the markets do so to make money. Regardless of their overall goals, whether it be to make a living from trading or to simply increase their wealth, a trader enters this business for one main reason; to succeed at it.

The stock market has traditionally received the lion’s share of attention in the trading industry, but foreign currency (Forex) trading has surged in recent years. Inter-bank forex market, also called Over the Counter Forex – OTC market and Spot market, is world’s largest market, its daily turnover is over 1.5 trillion US Dollars daily, even greater than all other trading markets put together.

Want to do it like the professionals and profit from the stock market? Here are the secrets of the world's legendary investors.

The European Union (EU) was developed as an institutional framework for the construction of a united Europe. The EU consists of 15 member countries; Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, The Netherlands, Portugal, Spain, Sweden, and the United Kingdom.

Interbank Forex Market is world's largest market with a daily turnover of nearly 2 $ trillion. It offers great advantages as compared to other trading markets, as outlined below: