Archive for September 7th, 2011

Making your Stop is in the Right place – Forex Trading

Making your Stop is in the Right place - Forex Trading

When I trade, I always ensure that I put a stop in for every order.. this is usually 50 pips or points and acts as an emergency stop should anything drastic happen with the markets or if my internet connection dies.. I know my maximum possible loss. However, it is important to ensure that a stop is place in the right place otherwise you'll be hammered by the stop hunters as they seek to take you out. My trade today on the GBPUSD was as below.. I saw a triple stop in the 15minute timeframe

September 7, 2011 No Comments Full Story

Crude Oil – Break up to the upside for almost 200 points

Crude Oil - Break up to the upside for almost 200 points

There was a fantastic move today on the Crude Oil market. I had an order 5 points above the resistance line and when it broke, it just flew. I only managed to take 100 points but the market has shot up to 8922, that's a huge 170 odd points move so far! What you'll find with oil is when you get these sort of moves, they are huge and you can expect a few hundred points. I'm sure the price actionwill take us higher now that the price action is also above the 20 day Moving Average on the Daily Ch

September 7, 2011 2 Comments Full Story