Archive for the Forex trader Category
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
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After last week I was cautious... trading systems in my experience don't work in all market conditions so when you get a poor trading week you know that the market dynamics could have changed. I'm more cautious when this happens and my way of testing the market is to scale down my trading and hence my choice to trade only the GBPUSD forex pair this week to see if we get a positive result.
Anyway, I'm glad to say that the week was positive, if only just! It gives me a bit more confidence to tr
August 29, 2011
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So finally we have a losing week on the DDFX trading system, we've had a spectacular run so I do hope this this is a one off and not the start of a spiral trend which seems to be what happens to a lot of trading systems.
The GBPUSD long at the beginning of the week was a nice trade… a winner and what I expected (probably getting a bit too confident here).. A mere 31 pips which isn’t huge compared with the trades I’ve been getting with the system previously but nonetheless, a good start.
August 25, 2011
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