Archive for the Forex trading Category
Hi all,
Firstly I apologise for the lack of updates to the site, I'm still very much alive but have been away for a long holiday and now back!
Well, I have been watching the markets since I've been away but there has been very poor internet connection which meant that it's not been possible to look at the short term markets as much as I would have liked to.
I have been doing a lot of research also and been looking at playing daily and weekly breakouts.
An example of a trade which I p
October 26, 2011
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I entered long the GBPAUD currency the other evening. I had placed my order 10 pips from the previous high and was expecting quite a big move towards the upside. When my entry came, it went a few pips up and then went down. I had my stop below the last trend reversal pattern. Over the next couple of days, not much happened.. it remained in the range and I thought that since the price action preceding this was up, there was more chance of it moving north.
When markets are stuck in a range, my vi
September 14, 2011
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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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