Review of Strategic Tips on Milking the Major Currency Pairs in Live Forex Trading - page 8
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Hello guys,
I wanna say great job my strategy is very much like yours
But actually i don't watch the trades i just put the safe buy/sell STOP orders and targeting
10 pips .
I put my buy stop for up-trend when i get the confirmation of the 1,2,3 pattern at fibo
level 0.0 and only take 10 pips profit
the opposite for the sell but it's the same and i always lay those pips no loss
But after reading all your posts i might consider sitting in front of the screen and make
bigger profits .
My profits are big because i increase the lot size when my analysis gives higher probability
and i lay $200+ a day using it .
best of luck and again great job
but why aren't you drawing your fibo levels on the charts or you don't want it to look complicated ? :blink:Helloo moneyadd, thanks for reading all my posts...trying to make the time to read them myself..lol..fibonacci are great support and resistance levels that can be used in trading to ascertain price movement..but even with the knowledge of 'fibo'' levels, many traders still make losses..prefer the 60% windows which are more simpler and accurate in my personal opinion..remember KISS? Keep it simple,Smarty..so its about applying the right tools for the right markets...not all size fits all in trading..
If you check out our chart below,we used the TRIANGLE PATTERN, more specifically, the SYMMETRICAL TRIANGLE PATTERN. but why is it called a triangle? Because it looks like one..Triangles usually form part way through a strongly trending move and represents a congestive phase in the marketplace. These patterns are important because they are typically followed by sharp increases or declines in price. An established triangle pattern is a valuable signal prior to a relatively predictable price change.
Yesterday, we made more than 200 pips from our symmetrical triangle which was part of our live practical trading.
1.4770-1.4576=0.0194
1.4651-0.0194=1.4457(target point)
Symmetrical triangles,which are lines connecting peaks and troughs tend to converge at the apex which is at the centre of the pattern.When price breaks outside of the pattern, there is a high probability that the price will trend in the direction of the breakout.Once price hit our target for more than 200 pips, it now retraced upwards,. Our buy stop @ 14507 caught the bullish correction for 75 pips..
Price then retraced downward again to our previous short target of 14457, hitting it twice..
Before we knew it, price knocked 3 times and slipped downwards where our sell stop was on hand to take the move...''come to papa''..
So moneyadd, hope you now understand...actually, my clients dont really want to know the process or method in which trading takes place...all they are concerned with is whether we make money at the end of the month,recession or not..thats the primary objective..making money.
Can any one here tell why do clients trading this market online face
problems. I have been trading online with AVAFX and facing problems like not receiving proper mails from them on time, downloading problem, customer support is not responding etc.
I have also heard from other persons trading this market online facing the same problems.
After threatening the customer support people they are now responding on time.
But still i have not come to know why online clients face such problems.sorry about that, jeff...try and look for a better and more honest broker...Even if you got the best strategy in the world, the choice of brokers is pertinent for the realization of your trading goals.
[11:53:40 30/12/08] Stalion : no need to be confused....we put a buy stop on gbpusd @
14550...1st target @ 14575..2nd target @ 14615..3rd target @ 14655
[11:53:44 30/12/08] Stalion : sl 50 pip away
Dear All, Just a novice question. I keep hearing/reading the word 'intervene' by apex banks to control their currencies. When BoJ says it would intervene to maintain a strong USD, will there be any impact on EURUSD pair to maintain the correlation?
Helloo needinfo,central bank intervention is the buying and selling of currency, foreign or domestic, by central banks in order to influence market conditions or exchange rate movement for fiscal or monetary policy purposes.
Why should the Bank of Japan intervene for a strong dollar? Because it is to their best interests. Japan, as we all know, is an export driven economy and if the Japanese yen is stronger than the dollar, it hurt their exports and consequently their economy. Why import 15000 dollar cars from Japan when you can get it cheaper right there in America? Why import expensive electronics, computers,due to a strong yen, when you can get it cheaper from America itself, or even China or India?
But wait..Japan is also a savings oriented economy, in which, majority of the US international papers or debt are held by it...So the Japanese are not thrilled to watch the value of their investments in the US bond,Treasuries and Capital markets go down the drain as the US dollar weakens..
The USDJPY monthly chart below shows the decline of the currency pair..
Compared to EURUSD(eurodollar), which is on an uptrend,a strong dollar would have a weakening impact on the euro, popularly known in international financial circles, as the ''antidollar''.. Even Trichet, the President of the EU Central Bank(ECB) might likely welcome the gesture of the Japanese with open arms, because a strong dollar would weaken the euro and save them the unsavoury task of slashing interest rates in the nearest future..You could do more research if it affects your personal finance or business objectives, need
info..Did I hear someone say ''Don ichiban''?
[11:53:40 30/12/08] Stalion : no need to be confused....we put a buy stop on gbpusd @
14550...1st target @ 14575..2nd target @ 14615..3rd target @ 14655
[11:53:44 30/12/08] Stalion : sl 50 pip awayLet me whisk you away to the forex charts on the DISSECTION OF A TRADE GONE WRONG. Remember the loss was also important though the LESSONS LEARNT from the loss are MORE IMPORTANT.
Now we are going into the reasons why we took a buy stop at that point..
A 123 bottom formation was observed prior to the alert given out, along with an inverted head and shoulder pattern forming at the bottom...Both are reversal pattern telling us that price is about to reverse from its downtrend to an uptrend.
MACD also made a positive convergence to price which was a buy signal..For the our fib fans out there, a la moneyadd, price made a turnaround on the 30% window, instead of the 60% sell window..which is not that unusual given the strong trend downward in price..
So it was more of a matter of TIMING, rather than STRATEGY. We might be right in taking a trade based on what our strategy is telling us, but if the timing is off bat,we take the loss...In this instance, we lost 50 pips yesterday..the market is always right..quite an humbling experience, isnt it?
So for today, wednesday, price finally came around and rocketed past our 3 targets like a valkyrie..technical analysiswise, our strategy was sound but the timing was off...price then compensated us with more than 105 pips..$105 minilot,$1050 standard lot on GBPUSD.
HAPPY NEW YEAR FOLKS and we give thanks to God for seeing us through a bumpy 2008..WELCOME
2009.
Can someone please tell me why this pair should reverse its down trend any time soon?
Hi radatats, I can see your chart was taken from the GBPUSD daily..The cable have been
staring at its bottomless pit like a deer in front of headlights for months now. Like the
picture suggests, GBPUSD has to break that upper resistance trendline before a reversal can
be said to take place.. And by price closing above the No 2 level of the 123 bottom( where
your 2nd purple arrow was), an uptrend can be said to confirmed in the midterm.MACD positive
divergence to price can also be seen on your chart which foretells a probable bullish run.
But remember, technical analysiswise,the trend is still down and traders are looking to sell
at any good upward correction level. I see no changes..''Buy the dips, Sell the
rallies''..ratatatata..thats just the way it is..
Hello Mystic, I am enjoying your threads and trying hard to understand
it all. I am a realitively new to forex trading and your way of trading fits the style of
trading I would like to master. So again Thank You and keep up the good work.
Since I am a reader of your treads, can you please send me a copy of the e-books listed
below. I would very much appreciate it.
1 The Art Of Creativity
2 Fibonacci Trading - How To Master The Time and Price AdvantageTsk tsk tsk tsk...ur enjoying my threads and still trying hard to understand it all? Nice
paradox, jehunter...believe me, ur not all alone...such is life...lol
If one of your New Year resolutions is to invest in yourself positively and creatively, I'll
be glad to help in that respect, mon ami..Please pm your email address so I can send it to
you,ok..Thanks..
So for today, Friday the 2nd of January 2009, we are looking at GBPUSD 15 minute chart where
TA wise, price is supposed to make a turnaround to the downside..while fundamentally, price
is supposed to go up due to the lower expectations of the US ISM reports coming out 4pm
Nigerian time.. so in less than 10mins from now, news is coming out...To Be Or Not To Be? TA
or FUNDAMENTALS?
we put a sell stop on GBPUSD @ 14515..1ST TARGET @ 14490..2ND TARGET @ 14465..14415...
Also a BUY stop @ 14535..1st target @ 14575..2nd target @ 14515..3rd target @ 14655..50 pip
sl
Thank You. I am definately interested in investing in myself
positively and creatively for the new year. I would like nothing better than to get off to
a good start for the new year. See my pm mail address below to send me the 1 The Art Of
Creativity & 2 Fibonacci Trading - How To Master The Time and Price Advantage.
PM email address
jehunter@cox.net
cool....please check your email box in some few hours,jehunter..And a tip..maybe you could consider WRITING your goals out for the year 2009..10 to 15 goals are okay..might be daily, weekly or monthly..just write it out and go through them regularly so as to keep focused,okay..Brian Tracy taught that strategy.
apa menatang dia ni merepek ni.....
shuo.. if i yarn wafi for you,you go ja..abi no be to gazu the kuza naim be the koko..google
am whether you go understand wetin me yarn
What the name of this system? Is it really good like I see on this graph?
Yes it is,Strategist...The name is the CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY. I dont mean to brag, but its one of the best techniques any dedicated trader could use to be profitable in the markets..I get invited to speak on international traders conferences on this strategy..at least,thats shows how good it is. Though it is not 100% perfect neither is it the ''Holy Grail'',you can be rest assured that your trading performance would get the required EDGE to beat the markets,especially in the long term.
forexgreen, very smart to show only 71% positive trade rate, not an outrageous number
like 90%, but not too low. Now if the statement was audited and certified by an
internationally known firm, I think it might just matter. By the way, where are Mandel and
Reaver????Tradeviper,your venom is simply out of this world, you know..seems you really took the time to go through my performance report over the last 3 months of turbulent trading. Actually, I didnt even know it was up to 71%, so you must be a good statistician. You can manipulate the figures but you cant manipulate the graph of the detailed report.Check the graph below the figures again and see if they match.Even if alien extra terrestians fly down with their UFO to audit the report, there would still be doubting Thomases..so I'm not bothered.
Look at Madoff..Are you trying to tell me that 'internationally known firms' didnt audited his reports over a decade before +$50 billion was ripped off? some say Steven Spielberg, who
was one of the 'casualities', might get sued by Madoff for the rights of the pending
Hollywood blockbuster film chronicling the scandal.
I believe in honesty and ethics in my chosen path..Trading is a vocation where many are
called but few are chosen.I've paid my dues and am still paying my dues in this
industry,tradeviper..easy on the hiss,plzzz
By the way, Who are Mandel and Reaver? Sounds like Beavith n Butthead?
[09:30:38 05/01/09] Stalion : helloo fellas
[09:31:09 05/01/09] Stalion : no news worthy item for Monday so we stick to our friday's
short call
[09:34:59 05/01/09] Learning_pips : hi stal
[09:38:18 05/01/09] Learning_pips : its quite funny though in carolyn's book there is a
mention of a gartley pattern which is a complete opp of the 1-2-3 pattern
[09:40:45 05/01/09] Stalion : hmmmm....havent had time to read it myself
[09:42:19 05/01/09] Learning_pips : its chapter 8, two step pattern..she identifies the
1-2-3 pattern/gartley pattern as a continuation pattern..quite interesting..
[09:42:46 05/01/09] blue : hi
[09:42:55 05/01/09] Stalion : gartley pattern on fibonnacci?
[09:43:05 05/01/09] Learning_pips : just goes to show how many ways patterns can be
interpreted by different people
[09:43:16 05/01/09] Stalion : helloo there blue
[09:43:46 05/01/09] Learning_pips : basically fibs have to applied on the pattern to
identify a cluster
[09:45:03 05/01/09] Learning_pips : "The two-step trade setup is a zigzag pattern that
corrects a prior trend"
[09:45:09 05/01/09] Stalion : range/consolidation pattern? can u identify it on a chart?
[09:45:44 05/01/09] blue : Stalion im new here
[09:46:04 05/01/09] Learning_pips : basically the pattern is exactly the same as a 1-2-3
pattern but she says that its a continuation pattern
[09:46:10 05/01/09] Stalion : cool....howz trading, blue?
[09:46:26 05/01/09] blue : Stalion not so gud
[09:47:18 05/01/09] Stalion : meaning d downtrend would continue? can you give us an example
on a live chart?
[09:47:24 05/01/09] Learning_pips : so according to her once we have points 1 and 2, we can
apply fibs to identify a cluster where 3 would be and the price after it reaches 3 would
continue its decline if we take 1-2-3 as a bottom
[09:47:55 05/01/09] Stalion : how do you mean, blue?
[09:48:35 05/01/09] blue : Stalion im bearing a lot of loss for past few months
[09:48:36 05/01/09] Learning_pips : well there are numerous examples n the book, i am trying
to establish it in the live charts..will keep u posted..any insights on today
[09:50:41 05/01/09] blue : Stalionim so tense now a days
[09:50:49 05/01/09] Stalion : whatabout strategy?
[09:51:48 05/01/09] blue : Stalion actually i was just trading by my own mind and short
trade with the stop but mostly i faced my stop hit
[09:52:48 05/01/09] Stalion : as in, what is ur strategy in which you've been using all
those while?
[09:53:21 05/01/09] blue : Stalion actually i just watch chart with 1 hourly candle and its
spread
[09:59:07 05/01/09] Stalion : hey, dats not a strategy ,blue...just a hourly candle and
spread? did you take any training before going live?
[09:59:07 05/01/09] Maurizio77 : morning all - happy new year
[09:59:13 05/01/09] blue : hi im from pak
[10:00:13 05/01/09] blue : Stalion unfortunately im not trained and thts why im so tense
[10:11:47 05/01/09] realjimmy : such a good day!!! you guys win??
[10:13:13 05/01/09] Learning_pips : no jimmy..missed it
[10:17:03 05/01/09] Stalion : blue, in trading, you have to be trained for you are going
against professionals that have been in the game for years and know what they are
doing...its like a novice trying to play in the Champions League..no chance of winning if
you are not aware of the rules of d game
[10:29:49 05/01/09] Stalion : also using different free signals from different sources on ur
live account is only asking to get blown out on margin call...no accountability or
committment from both sides..
[10:34:59 05/01/09] Maurizio77 : reckon we'll be seeing a breakout on eur/jpy soon
[10:40:46 05/01/09] Stalion : for euroyen, we put a sell stop @ 127.49...1st target @
127.25..2nd target @ 127.08...50 pip sl
[10:45:37 05/01/09] effendy40 : hi stalion
[10:49:50 05/01/09] blue : Stalion wht wil be its buying stop
[10:51:22 05/01/09] Stalion : well, for now, no buying stop since we are looking for eurjpy
to go down in the short term...dats why the sell stop
[10:54:14 05/01/09] Learning_pips : stal the eurjpy entry is 1-2-3 if i am not worng?
[10:57:27 05/01/09] Stalion : 1st target hit on eurjpy..take half profits and move stop loss
to entry
[10:58:52 05/01/09] Stalion : the 123 pattern has already been fulfilled with the high at
128.49...
[10:59:23 05/01/09] Stalion : remember different techniques as price moves
dynamically,pips..
[10:59:45 05/01/09] Stalion : 2nd target hit on eurjpy!
[11:00:19 05/01/09] Stalion : 41 pips made in less than 1 hour on a monday morning
[11:00:27 05/01/09] Learning_pips : right..sorry realised that later
[11:02:16 05/01/09] Learning_pips : i just checked, our entry point was at 60% sell window of the previous swing..nice!
[11:04:55 05/01/09] Stalion : cool...great start to the week...and for the New Year..
[11:11:42 05/01/09] Stalion : dats all for today...tommorrow is another day...41 pips,$41
minilot,$410 standard lot on eurjpy...
Helloo fellow traders, for today Teusday 6th of January,1.00 am, we put a sell stop on GBPUSD @ 1.4635..1st target @ 1.4605..2nd target @ 1.4575..3rd target @ 1.4545...50 pips stop loss..take half profits when +20 pips ahead then shift stop loss to entry point.
The Awakening
[QB] I really don't much about the psychology of stock trading but one that got me is the
"having" or the noobs quest for more money. As novice in this field I try to take a lot of
advice from many sectors and other forums similar to this one but my problem is information
overload.
It's so easy for a novice to get overloaded with information that instead of making a head
way in their quest to make more money, they simply sucks and cannot function as they should.
Don't get me wrong but the original thread is something for a novice like me to really put
into consideration.
Thanks for the tip [/QB]Hi Julie...thanks for your mail...you are right when you mentioned the ''paralysis by
analysis'' factor that disable the functions of majority of the traders due to information
overload.In pursuit of the quest for profits, most of us tend to disregard the knowledge,
patience and determination required to come out on top in any field of endeavour,instead we
only focus on money..''how much can I make daily?''...I deserve a 100 pips dropping like
clockwork each and every day''... Stay with me here,viola, there's a madness to the method
and method to the madness..Its called the LAW OF DETACHMENT...thanks once again for your
comments, julieviola
Hey forexgreenland, we have missed you at NIGERIA BEST FORUM . NBF.
Since its been a while, we thought we would send you a personal invitation to return.
Hello, forexgreenland!
We've noticed that you've not been active on ForexForums.org for quite some time now, and we
miss you!
Could we not tempt you back?
Hmmm.....no need to do that,mon amis...am back....just being occupied by lots of projects
lately...so little or no time to post as much as before...
It seems like one of the most common questions we get, especially
from those new to trading, is something along the lines of "Which is better? Technical
analysis or fundamental analysis?" There's no perfect answer to that question, just like
there is no perfect technical system, nor perfect fundamental criteria. In fact, the best
answer may simply be "It depends on what works for your style of trading".
So if you choose one strategy, then work for it.. But if you want to use the two, then
that's better.. Combination of these two methods could give you too much advantage.Nice observation, dollarfinder...I concur with your findings...There's no 100% perfect
system, whether technical analysis or fundamental news analysis..What matters most is proper
RISK MANAGEMENT in trading.. How long can your equity last if your system is on a losing
streak? How far can you go when the market goes schizophrenic over a period? 5 trades? 20
trades? 50 or a 100 trades before margin call...Hot situation makes a nice one, whatchu
gonna do...call 911?That is what majority of the professional traders focus on when
trading...Even in cooking, recipes of dishes are added proportionally, instead of putting
the ingredients all at the same time.. That proportional blending eventually brings about a
nice savoury dish....yumm yumm..Anyone hungry?
Frank Says:
Hello, thank you for this Posting. I am reading this Blog very often and i like to read this
blog. I hope you writing alot in this Blog. What you have to doo is to write more in this
Blog about everything.
Hi Mistikal,
You responded to my message on 01/06/09 regarding the two e-books listed below: I have not
received them as-of-yet. Please send them to me at your earliest convience, I am anxious to
learn how to trade in this new year. My PM address is...jehunter@cox.net
1 The Art Of Creativity
2 Fibonacci Trading - How To Master The Time and Price Advantage
Thank You and keep up the good work! You're the best.:)I know, I know, jehunter....better to be the hunter than to be the hunted,especially of
pips..lol...wud send it as soon as possible,okay...
Hi Stalion,
I saw some -ve and some +ve comments on your thread. I don't really care about those -ve
comments. It's not fair to judge boobs by its cover
. Personally am impressed with the
strategy you are using and I would like to learn it from you. Can you please tell how I can
join you during trading. Thanks.Darn hayabusat,easy on the boobs fixation,okay...or you want to change the title of ''Sex in
the City'' to Sex in the Trading?not that healthy for clarity of mind..I must say.. Trading
mostly commences during the London Session where you have less range activity and more
stable volatility.
[10:02:58] Stalion : sell gbpusd @ 13920...1st target @ 13840...2nd target @ 13765...50 pip
sl.
sl.
Upload the images to forum, pls.
Hello Stallion,
You have not been posting for some time now. hope all is okay???
Please if you dont mind,i will like to ask you to tell me how you do draw your
trendlines on the price chart and MACD.
what and what do you consider or do before and while drawing them.
Also i want to develop a good entry and exit method while trading so that i will not enter
late or leave too soon on the market. please advise me on how to do this .
Please advise
Onwuka ArisaHelloo there Onwuka, nice to get your mail... We thank God for everything..We should also
know there are times we shouldnt ignore our personal needs in order to satisfy others
needs..A burnt out Stallion is of no good to himself or to the people..just cant give out
from an empty cup whether you see it half filled or empty..so creative silence or quiet time
is essential for each and every human being..Mind you, you dont have to be a hermit
hibernating in a cave or a monk in the Himalayas before you get the centre of balance
within.. seems your questions have been asked before, and the answer was given..most times,
I often had to go back and read through the whole thread so as to get a better perspective
of where we are coming from and where we are
going..
Forex Chart Pattern Recognition technique on the Breakout System - Page 7 - Forex Peace Army Forum
Forex Chart Pattern Recognition technique on the Breakout System - Page 14 - Forex Peace Army Forum
To summarize, trendlines are connected from the current resistance/support high or low to
the previous resistance/support high or low of the candlebars.
It is also connected, if using MACD,between the current peak(highs) to the previous peak or
between the current trough(lows) and previous troughs of the MACD line. When the price
trendline is ascending in an uptrend and MACD trendline is descending in a downtrend, it is
called NEGATIVE DIVERGENCE.. When price trendline is downward and MACD trendline is upward,
it means POSITIVE DIVERGENCE.
Good entries and exits are also strategies that depends mainly on risk management principles
like risk to reward ratios.Most newbie traders/sportsmen wants to know the tricks...instant
gratification without expenditure of responsibilty..Your entries might be good but whatabout
whipsaws?what if you had perfect entry but the timing of the move sucks?How much are you
prepared to risk if the ''perfect entry'' does not manifest? Those are questions we should
ask ourselves before and during trading..
Can anyone recommend a good platform for trading CFDs?
Hi Natalie, to paraphrase annacoulli..
Brokers fall into 3 broad categories: ECN, non dealing and market maker
and from experience I have found there are at least 16 questions you should ask before
opening a forex account and these are as follows:
1. What is the net capital of the company
2. Is the company regulated
3. Is the company a dealer or a broker
4. What are the leverage and margin rules
5. What are the costs of trading
6. Does the company offer telephone support
7. How easy is the platform to use
8. Is the trading platform reliable
9. What is the charting like
10. How long has the company been in business
11. What reputation does it have in the forums
12. Trading style and order types
13. Micro, mini and regular account spreads
14. Interest on the account
15. Hedge trades allowed
16. Rollover
Once you have your answers it is so important to select a broker which matches your trading
style - it is pointless opening an account with a broker which is classified as a market
maker and then expect to be able to scalp - you will not be able to do so because spreads
widen alarmingly when the markets are volatile.So CFDs(Contracts for Difference), are cash settled derivatives that reflect their
underlying markets like stocks, futures or forex contracts.CFDs can easily be traded short,
transaction speeds are usually fast, and they have low margin specifications, like 10% for
shares, 5% for share indices,5% for futures and 2% for currencies.They are also generally
open ended, as in, they have no expiration dates like options, commodities or warrants.
Another thing that makes CFDs stand out is they are available for diverse underlying markets
like the US, UK AND European shares CFDs, sector CFDs like Banks, Real Estate,Oil and Gas,
as well as forex and futures pairs.
hello whats your setting for MACD indicater . Thanks.
Helloo nasir.khan...any relation with genghis or kublai khan? anyways, you can just use the
standard settings on your platform, which is usually 12,26,9.. You could still tweak the
settings and compare the changes on the MACD indicator to price above...whichever one fits
your style is okay...
yeah i know forexgreenland your work speaks for itself.........but can you
tell me why you always summit chats on your maximum post. don't you have anything to
discuss....Hmmm, this sounds like a counterattack from one of the feminine species,not just a welcome
party....Somebody stop me!You want to know why, mami? It is because those chats and charts
mainly represents a reflection of operations in the trading trenches..reflects trading minds
at different levels in which enlightening market themes and principles can be glimpsed and
learnt from..
At the risk of getting my eyes scratched out by our female folks, there are some
observations on the gender aspect to trading.females are less willing to take risk but more
willing to stick to their rules..Alpha male stereotypes tend to do the opposite..too much
machismo, too much ego on the line...brings about stumbling blocks to our trading life..so
if good traders are consistent at abiding to their rules and not taking unnecessary risks,
the ladies should do better in their pyschological makeup to trading. So guys, we got a lot
to learn from our womenfolk..thanks for your constructive criticism, Anne
How to set the graph become like this ?
Hi khairu, the red and blue lines you see on the chart is brought about through putting up a buy or sell order, which reflects on the ''graph''...To write out a text, just click the ''Insert'' tab above, next to ''View'' tab on your MT4 platform.. There, you can also experiment with trendlines, shapes, arrows, fib, gann..etc...just play around with it first and see how it translates on your chart.
So for today, Teusday, we could see a head and shoulder pattern on the GBPUSD 15 min chart,so we are looking for a bearish move down south...wow..
Sell stop on cable @ 14614...1st target @ 14565..2nd target @ 14535..50 pips stop loss...Take half profits when +20 pips ahead, then shift stop loss to sell entry level.
Hmmm the chart is showing breakout for short sell
Cool..Fxcool...if it breaks our triangle to the downside, we are looking at a short sell,
like you said..but if price breaches the ''HEAD''(1.4775) level of the Head and shoulder pattern, then we might be seeing the continuation of a new uptrend..so buy stop at 14775..1st target @ 14825, 2nd target @14865..50 pip stop loss
Marike says, "Hi Sylvester,
I am a south african girl and very interested in learning how to trade forex. Is there
anyone in Johannesburg or website that can teach me the basics in trading because I have NO
experience.
Thanks
Marike.".
Hi Marike, sorry I'm in Lagos,Nigeria and am not yet familiar with anyone in
johannesbourg,SA that could teach you the basics...You can try Forex Trading: Online Currency Trading in the Foreign Exchange Market, and
Forex Factory, where some forex basics are posted.
Thanks once again.
Maximum wrote
Hi Sylvester, I was watching your alpari account that you provide on your site and I was
like very surprise when I saw that the account when from 9500$ to less then 7000$, what
happen, there was a big loss of 1000$ for one trade, could you explain to me please.... thx
Max
Helloo Max,
Thanks for your mail...The drawdowns were brought about by my divided focus lately, for I'm
about completing my new forex book which has a deadline of a couple of weeks. This new
project, which had been postponed so many times earlier,has taken up my time for dedicated
trading...like a tradeoff, I might have to suspend market action for a short period in
order to fully concetrate on the task at hand...which is writing and publishing this
expository manuscript, without much external distractions.
So max, dont worry,once my new project is completed, I;ll pick up from where I left off,
presumably in a month's time...so as to give my usual undivided focus back on real time
trading..
Thanks for your concern, my friend....please ask any questions or comments you might feel
like communicating in the meantime..
Hi When you specify limits or stops, does it always work.
Honest Injun, no padner...nothing always work all the time...remember we are living in an
imperfect world...the only method to mitigate against unnecessary losses from trade entries
and exits, is proper risk/money management and discipline.
Consumer prices dip unexpectedly in March