Trader456's trading ideas - page 30
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Buy AUDUSD at 0.9043Stop level at 0.8976Target level at 0.9250
Stop has triggered at 0.8976, loss is 67 pips.
Bought AUDUSD at 0.8955.
Stop level at 0.8860
Target level at 0.9250
Risk comes from not knowing what you are doing.
There are 3 criteria to determine which currencies to buy:
a) The currency must have relatively higher interest rate than other currencies. Naturally investors want to invest in currencies for their yield.
b) The nation must have budget surplus. Budget surplus means that the nation is earning more than it spends.
c) GDP growth must be healthy and positive. Healthy GDP growth increases confidence to investment community and hence higher probability of capital appreciating.
After determine which currency to buy, we will check out the trend of the currency. The saying that “the trend is your friend” is always true. We will use our trend strategy to determine the medium term trend of the currency pair. It is easy to ride with the trend rather than the go against the trend. Move onto next step if trend shows uptren
Next we need to find out the behaviour of the currency pair that we want to trade. This can be performed using our FX Behavioural Software. After finding out the past behaviour of the currency pair, we can use this information to generate buy / sell signals. We will proceed to next step when the signals show buy.
We will always buy near a support level. If the current price is far from support level, we will wait for better entry level.
Finally we will determine where is our stop loss and target loss. Make sure that we do not risk more than 2% of our capital for each trade. All forecasts are a matter of probabilities, not certainties. Hence all trading decision must come with managing losses. By risking only 2% or less for each trade is our way of managing losses.
This is how we trade and we have been doing well in our trading.
AUDUSD shows weakness, decide to close this trade.
Closed at 0.9007, profit is 52 pips.
Original trade:
Buy AUDUSD at 0.8955
Stop level at 0.8860
Target level at 0.9250
Buy AUDUSD at 0.8960
Stop level at 0.8870
Target level at 0.9200
Stop triggered, loss is 90 pips.
Original trade:
Buy AUDUSD at 0.8960
Stop level at 0.8870
Target level at 0.9200
EURUSD has a 4 year support level at 1.2400. This support level had just been broken during yesterday’s New York session
This is a sign that EURUSD is going to fall further down. We will be interested to short EURUSD next week.
Next support level is at 1.1800. That means there is a potential profit of 500 pips to be made.
Buy USDCHF at 1.1296
Stop level at 1.1176
Target level at 1.1600
Heard of huge offers at 1.2400 for EURUSD.
Sell EURUSD at 1.2345
Stop level at 1.2440
Target level at 1.1800