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Do not over trade.Never Risk More Than 2% per TradeNever risk more than 2% per trade.It is most violated rule by new traders.You must also set your daily loss limit.Some brokers like dukascopy has account protection system where you can set your loss limit.This will close all your open positions once the limit is breached.Once you have lost your daily limit stop trading for rest of the day.Go out …
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► IntroductionThis article is a continuation of "Profit from Trend Lines' Confluence". In the previous article, we talked about how to profit from trend lines' confluence. We learned to draw trend lines and mark an area around two trend lines' confluence point. Then, we just wait for price to test the confluence area and enter a trade.In this article we will take a closer look at trend lines…
This article is the answer to the article “How I Made 1000% in 36 Hours”.Developing of trading skills and attitude can be divided into 3 stages:1. Gambler with Sports attitude.2. Professional trader with Job attitude.3. Master with “market is money making machine” attitude. Sports attitude In sports we have longtime preparation and short-time action. This is how it works. If you want to …
In this article I want to share my 3 trades taken last week on my LIVE account. These trades were taken according my trading approach described In my last article. Because this is not a signal service, article is written after trades. My trading is based more on technical analysis than on fundamental. Everybody who is watching forex market knows what the moves happened last week. For each trade…
The higher the volatility of the market, the higher the potential profits from the transactions. This assumption seems to be true. Higher volatility means higher risk and higher-risk investments generally carry a potentially higher returns. Note, however, that with the higher vola…
Why does the Market Range? The Market is said to range or consolidate 80% of the time during which Price Action does not trend but instead moves within a channel between Major Support and Resistance levels often from the larger time frames.…
Firstly, I am not writing this to show off. My main reasons are: 1) To put my experience into an article, so I can read it later and motivate myself, that if you are lucky enough you can make pretty substantial gains. So basically I am writing this for myself but giving it away for others to see. 2) When I saw big gains I allways wanted to see it trade by trade explained by the author. 3) One of t…
TIME IN FOREXJune 7, 2013 Time time time what an important concept. It’s difficult to really estimate how important time in the Forex market is. Sometimes if you really think about it, it’s everything! So was a good example yesterday in the EURUSD and GBPUSD it was a time to buy!!! GBPUSD EURUSD…
Dear Odradek, I just got your letter and see who is already somewhat familiar with the financial markets especially the Forex and tell me you want to open a real money account. Below I give some recommendations to have present.To open an account with real money to invest in Forex Do not do with the money for the education of their children, nor the money to buy food, not with money from rent and u…
How much time you need to spend, before you jump on trade? This article will help you to find best Forex trading approach, it is “don’t forget to live your life”. Do not listen sentences as “Forex is opened 24 hours, you can trade all the time”. YOU CAN doesn’t mean YOU HAVE, it is different. Main Forex sessions are Asia, Europe (London) and New York. Is possible to cover all sessions…
SituationAs an Australian, I have benefitted from a stronger AUD in recent years. As I am always conscious about my "wealth" in a global context, I am constantly looking at the attractiveness of the AUD relative to other currency pairs and the consequent risks of waning strength. About a month ago, I noticed a significant divergence in bond yields as well as equity returns (total return basis) whi…
Trading High and Low Situations Introduction First of all I would like to say that although this method of trading works for me, it is not necessarily for everyone. Trading is a personal thing, and each and everyone of us approaches it differently, depending on their beliefs and convictions about the market. I believe that getting one green pip is just about the hardest thing possible, and so t…
Entries"Best-trading" involves waiting for really good trades & not being lured in by sub-standard ones. A lot of traders get frustrated when they miss trades, they think "Oh, I could have made so many pips here & so many pips there", & then they get overly aggressive with their entries, which invariably leads to many terrible entries & likely, many losing trades, which lose them enough money to p…
IntroductionOn last article we have done all needed prerequesites steps to be possible to interact with Twitter services with our future strategy. You can read the article here. With the strategy i describe on this article, as example, we will send to o…
After I realized that my lack of success in trading was not down to bad luck or an inability to read charts nor even to faulty strategies but mainly due to psychological shortcomings, my next step was to take Eric Clapton's advice: “Before you accuse me (others), Take a look at yourself”. Having been forced to cast a closer look at myself I had to ask two questions: Do I want to continue t…
