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Introduction One important aspect involved in trading activity is how you decide to protect your equity. Personally I consider this as the most important one, but this is subjective (really?). There is a deep-rooted bug in human psyche: the inability to accept a mistake and to admit it’s time to change your mind and find a solution to the problem you are causing to yourself. This usually happens when it’s too late. With this article I want to (try to) show how many times our minds fail at the very first sign of a problem, because of a wrong approach. Since I don’t want to be considered as the new “captain hindsight”, I will not show any of the current price charts. Supports and resistances We are used to read a price as a line moving between main levels whose in the past were proved as support or resistances. Just like this example: We can see how many times supports and resistances simply… fail! This because price moves up or down based on fundamental reasons. Otherwise we should see a never ending pattern like this:Now, given as true that this can’t happen as an endless event, we have to take in consideration the reality, so meaning we must consider a support or a resistance a…
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OneGoodTrade avatar

Nice title and charts.

doctortyby avatar
doctortyby 28 Feb.

Any professional investor protects his investements... this is the hardest thing to do contrary to general public opinion. Wealthy people and successful people find ways to protect their wealth and the money that they earn. Keep it up Scramble you have my respect.

lkisiov avatar
lkisiov 1 Mar.

Verry good man this is like a good trading plan not just copy and paste from some useless book

lkisiov avatar
lkisiov 1 Mar.

To me from where i stand as a trader this is the best article for February

scramble avatar
scramble 8 Mar.

tks every1 for comments! and yes ilkisiov, not certainly something copy n paste from the web! :)

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24/108
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Frequently released macro figures are good opportunity to show how you can take advantage of this kind of market events. Much is said about it, "do not play when the figures come", but why not take advantage of moves generated by them to open the next position or reconstruction of old? I am not talking about the entrance at the time of publication, but shortly after. Below I present it as a long position rebuilt, which was exited by my trailing stop (set slightly below the low of 7.30 GMT 06/03/11). Case was happened 06/03/11. The default timeframe is M10. From about 12:00 polish time (10:00 GMT), we could see a clear phase of waiting for figures reading and only the necessary foreign exchange is being done. Well illustrated by the GMMA, which took in the period before the publication of a very compact and flat arrangement. I found that market is general uptrend (based on H1 and D1), quite clearly and in accordance with that, I manage opened positions and open only long positions in daytrading. At 14:30 (12:30 GMT), NFP, the unemployment rate and average hourly earnings has been published. All data were clearly negative for the dollar, which caused the initial sh…
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przemyslaw avatar
przemyslaw 11 Oct.

Great job again! That's how every artcile should looks in this contest: many charts and brief explanations. In addition, author shows how easy can be profiting on the forex market.
Good luck in the contest!

ritesh avatar
ritesh 12 Oct.

Nicely written, quite detailed and informative article. Nice one..keep more coming. Best of luck and +1

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